Invoke has received its third industry award in recognition of their software solution's excellence in regulatory reporting for the insurance industry.
A European leader in regulatory reporting, Invoke is the trusted technology partner to supervisory bodies worldwide, as well as to firms in the financial services sector that fall under the scope of complex regulatory imperatives such as Solvency II.
Already awarded Best Regulatory Solution by the Insurance Risk Magazine in 2014 and Best Data Solution by Insurance ERM in 2016, Invoke Regulatory wins an additional award as Best Regulatory Software at the Insurance ERM 2017 awards.
With more than 20% of the regulated insurance entities in Europe using Invoke software solutions to produce and submit their Solvency II and national specific reporting, Invoke Regulatory was acknowledged once again by a distinguished panel of judges, thus marking the third award received from the insurance industry.
Multi-jurisdiction, up to the last mile of disclosure
An end-to-end solution, it allows for autonomous data collection and cater for every local specificity, ranging from country-specific regulatory requirements to technical filing specificities.
"Invoke can accommodate country-specific reporting obligations such as Irish and French national-specific templates, focused reporting in Luxembourg, Lloyd's core market returns or technical specificities such as electronic signature in France and Romania", explains Chris Cundy, Managing Editor at Insurance ERM.
Bridging the gap with unified reporting
"Having a strategic approach to regulatory reporting means the business source systems have to be linked directly to a unique reporting solution. It is essential to achieve data quality. Our clients use our solution not only to produce improved quantitative reporting, but also for qualitative reporting, thanks to our standard embedded module for collaborative narrative report production", says Antoine Bourdais, Director of the Banking and Insurance Division at Invoke.
Thanks to its unique data modeling capability, Invoke Regulatory allows for unified reporting, beyond mere regulatory reporting, within a single, centralised solution.
"The product makes for unified reporting drawing on a number of sources and frameworks within companies for data, allowing not only for regulatory reporting but also for consistently applied consolidation, budgeting / forecast, and management reporting", says Chris Cundy, Managing Editor at Insurance ERM.