Solvency II compliance

Solvency II Compliance Assessment Tool

Discover how Milliman’s Solvency II Compliance Assessment Tool (S2CAT) can simplify your compliance process. Our cloud-based tool provides up-to-date information on Solvency II regulations, including the latest amendments. With intuitive self-assessment questions and a comprehensive library of regulatory resources, S2CAT is designed to help (re)insurers track, manage, and prove their Solvency II compliance with ease.

The tool is kept updated with the latest Solvency II requirements, and in 2027 will be updated to incorporate the changes for the Solvency II Review applicable from 30 January 2027. From 2027 users will have access to two versions of assessments within the tool – one assessment based on legislation pre Solvency II Review changes and one assessment based on legislation post Solvency II Review changes.

The Solvency II Compliance Assessment Tool enables both life and non-life (re)insurance companies to easily monitor and assess their level of compliance across all three pillars of Solvency II while simultaneously creating an audit trail of completed work and a development plan for future actions.

Key features of the Solvency II Compliance Assessment Tool include:

Latest Solvency II requirements

Includes the Directive, Delegated Acts, Implementing Technical Standards and EIOPA Level 3 Guidelines. The platform is easy to navigate with bookmarked links to all relevant legislation.

Easy to use platform

Facilitates the gathering of all necessary information from staff across the entire organisation, ensuring a streamlined and efficient process.

Reporting functionality

Generates system-built reports that display the level of compliance in each area, providing clear insights and documentation for internal and external reviews.

Audit functionality

Maintains a detailed audit trail of who answered what and when, ensuring accountability. Users can also upload supporting evidence, enhancing the robustness of compliance records.

Workflow functionality

Allows delegation of questions to selected individuals, which can be scheduled in advance. All responses are displayed in a single, user-friendly interface. Email reminders for incomplete questions and follow-up actions can be set up and tracked until completion, ensuring no compliance task is overlooked.