T4U (Tool for Undertakings) is a product created and developed by EIOPA, intended to help small insurance companies prepare their first Solvency II reports. The system is available for free but with no technical support. Unfortunately, due to EIOPA’s budget restrictions the solution will be decommissioned, which means that companies will have to develop the system on their own. In addition to T4U, there is a range of commercial XBRL solutions with different functionalities.
In the table below you may find the main differences between aSISt Solvency II and T4U:
aSISt with the Solvency II module is an advanced, off-the-shelf reporting system which guarantess long-term stability and user support. It has been recognised by over 600 financial entities and national supervisors throughout Europe. Moreover, aSISt has a 30-day demo trial so users can explore the system and prepare XBRL reports before buying the solution.