Presentation given at the 2015 infoline Solvency II Summit on reporting under Solvency II

1. 1Assessing reporting disclosure – XBRL in the Undertaking
Assessing reporting disclosure
XBRL in the Undertaking

2. 2Assessing reporting disclosure – XBRL in the Undertaking
Contents
XBRL basics
How does XBRL fit into the reporting process
Update on available information
Integration challenges - process and governance
Integration challenges - what can your IT do for you
Added value beyond Solvency II
Outline

3. 3Assessing reporting disclosure – XBRL in the Undertaking
XBRL basics
XBRL: eXtensible Business Reporting Language
 DPM: Data Point Model
 Model: A simplified representation of reality
 Language:
 Words (taxonomy): not always strict: “love”, “premium”
 Grammar (validation rules): semantics vs syntax
Definitions

4. 4Assessing reporting disclosure – XBRL in the Undertaking
XBRL in the reporting process
 XBRL to be used to deliver QRTs
 All amounts need to be tagged
 Vendor-supported solutions becoming widely available
 T4U bare-bone implementation from EIOPA
 Excel-based QRT can be used to feed XBRL delivery systems
 Own reporting can benefit also!
When do you have to use XBRL

5. 5Assessing reporting disclosure – XBRL in the Undertaking
Update
 Taxonomy delayed by consistency with EBA requirement
 T4U still not in production, first versions available
 Budget cuts endangering process
 EIOPA “committed” to delivering T4U
 Vendor-supported solutions not finalized, but first versions out
 More and more white papers on implementation
Timelines, information nuggets, open questions

6. 6Assessing reporting disclosure – XBRL in the Undertaking
Integration challenges
 A new reporting layer’s introduction is no easy thing
 XBRL taxonomy needs to be mapped to the undertaking
 Ownership of abstract definitions and mappings unclear
 XBRL has to change with the enterprise
 Regular reviews of the mapping need to be established
 The delivery process itself should not present any challenges
Process and governance

7. 7Assessing reporting disclosure – XBRL in the Undertaking
Integration challenges
 What can your IT do for you?
 Vendor-supported solutions need to be kept up-to-date
 XBRL fed best from database, rather than Excel files
 Connecting XBRL to data dictionary a valuable insight
 Maintaining the mappings technically challenging
 Automating validation rules improved Data Quality
IT is your best (XBRL) friend

8. 8Assessing reporting disclosure – XBRL in the Undertaking
XBRL
 Validation, validation, validation
 Examples
 nr of policies > nr of customers?
 Credit line per trader
 Traded instruments
 Structured and validated data = clean data
 eXtending taxonomy for internal reporting
 Clean data can form the basis for analytics and insight
Added value beyond Solvency II

9. 9Assessing reporting disclosure – XBRL in the Undertaking
Thank you!
Any questions?