One of the challenges of Solvency II is the reporting of collective investments funds by the look through approach in S.06.03. Obtaining data and reporting according to the specific guidelines for many insurers is a difficult and challenging process.
S0603.eu supports insurers by collecting, reclassifying, and reporting the data underlying investment funds according to the Solvency II guidelines.
Check if we have fund look through available for your funds
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Based on a pilot we did last year and our experiences in the market, we focus on three pillars:
Pillar I: Transparency
Without transparency there is no look through.
In our opinion look through is only possible if you get a full insight in the composition of the investment fund.
The challenge is to get these data. S0603.eu is working together with TPTConnect who offers a low cost service to insurers on their look through data exchange platforms. We can set up the first contact and inform you about this service.
Pillar II: Data quality
Getting look through data is only step one. Our core business focuses on data quality.
Although the data is delivered by the asset managers via the data exchange platforms, the insurer is still responsible for the data they report to the (local) regulators.
We make sure that the data is checked on completeness and accuracy, share our data quality checks with you and can set up direct contact with the asset managers to address our concerns on their data quality.
Pillar III: Consistency
Another important topic is data consistency. We take care of it in two ways.
First of all we compare look through data of the fund itself over a period of time. We don't expect any major differences in the fund composition. If we see any of them we will investigate if there were any recent changes in the strategy of the fund.
The second way of data consistency is on the master data of the underlying assets within all funds the insurer is investing in. We make sure that every classification of a single asset is unique. Even if you're investing in multiple funds that deliver different master data for the same asset. We can also check on data consistency between the S.06.03 and S.06.02 (full asset list).
S0603.eu is a start-up that stands for quality. Investing in advanced systems and a supersonic website is something we may do later. For now, quality is our top priority.
We believe that by the central collection and processing of data the entire chain (insurers, asset managers, fund managers and even national banks and EIOPA) benefits from our transparent and consistent way of working. We just started with a small number of insurers and are very busy setting up contacts and collecting and processing data.
Our ultimate goal is to become the leading provider of S.06.03 data on the European insurers' market.
If you believe in our concept as well, please contact us directly.
We also like to cordially invite asset managers and fund manager for a free consultation.
We are happy to give you more information and answer your questions personally.
Please select one of the options below to contact us.