How to ensure data integrity and safety without T4U support?

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Since the Tool for Undertakings (T4U) has been decommissioned, insurance companies have been urgently looking for an efficient and long-term solution for Solvency II reporting. Is it possible to migrate to a new reporting system without any data loss? How to make sure that the change of the tool will increase and not decrease the quality of report data?

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Reporting solutions for National Supervisors

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Each bank, financial institution or insurance company has to prepare obligatory reports, but the reporting process does not finish with sending the report to the National Supervisor (NCA). The NCA is obligated to validate the received file and send it to the EBA/EIOPA, or send it back if a mistake occurs. This process of verifying reports prepared by filers is very similar in most European countries. Read more…