Insurance

A major French insurance company and six of its subsidiaries required a system that enabled them to automate their entire production of regulatory statements for the ACAM (French regulatory authority for insurance companies).  As, in the past, related information was stored on a heterogeneous collection of different systems, the required solution had to have the capacity for data mining from all these operational systems (Life, accident, fire and multi-risk).

RimaOne, with its R²Vision solution and the TrackingOne module of the GRC suite package, was selected to handle this requirement.  The RimaOne solution allowed for the automated production of quarterly and annual production of reports for the company and its subsidiaries.  The contribution of RimaOne involved the automatic launch of the periodic data extraction, automatic checking of the data, the launch of the calculations required to generate the necessary aggregates, the generation of the regulatory status documents, the cross-checking between documents and the production of the declarations on magnetic media.

Furthermore, the flexibility of the solutions provided by RimaOne allowed for real management of the regulatory history as well as the retrieval of items from declarations covering previous periods in order to generate statistical data concerning the evolution of company results by period.

  Results of this operation:

Prior to the installation of the RimaOne solution: production of nearly three hundred status reports to cover all the companies:  21 to 28 man-weeks per reporting period.

Following the installation of the RimaOne solution, two man-weeks per reporting period.

Additional advantages:

• Compliance with reporting due date.
• Computerised workflows and check.
• Historical filing and archiving in compliance with regulations with a complete upstream and downstream audit trails. 
• Justificatory proof of results for supervisory authorities. 
• Preparation of internal and external audits.

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