ORSA Forecasting Tool

AnaplanAppHub
Not applicable
Finance needs a more controllable, repeatable, and efficient rolling forecast process in order to bring more strategic business insights to senior management to enhance the business model. The current forecasting process is labour intensive and often spreadsheet based. With increasing information demands, multiple periodic forward-looking assessments and the need for enhanced analytical insights, the current forecasting process and tooling cannot sufficiently support the insurers business goals. Today’s planning is not only P&L based but also driven by the balance sheet and capital position, mainly caused by Solvency II. Therefore strategic capital planning is essential and should be in line with the ORSA (Own-Risk Self-Assessment) strategy.

 

As a result forward looking capabilities are becoming increasingly important for insurers. To be able to forecast, budget and plan with multiple scenarios is key for tomorrow’s insurer. Insurance companies are required to assess its material risks of all assets and liabilities and the accompanied capital requirements at least on an annual basis. Ideally continuously forecasting and planning capabilities are embedded within insurers, where ultimately the assessment links business planning with the insurers overall solvency needs.

 

The ORSA app, which is a projection tool of the Solvency II balance sheet including Own Funds, individual risk components and P&L can help embedding a robust ORSA process in business planning, provide reliable and insightful figures and gain insights in individual risks, own funds and capital needs.

Information

App Last Updated
January 27th, 2017
Size
76 MB
Language
English
Terms & Conditions

App stats

Modules
104
Roles
3
Reports
24
Complexity
Advanced

 

 

Features

Inclusion of risk modules Standard Formula
  • The app projects the Solvency II balance sheet, P&L and Own Funds and SCR based on Standard Formula calculations for a non-life insurance company, including market risk and all its sub components and non-life risk and all its sub risk components.
Scenario capabilities
  • Easy on the fly creation of (stress) scenarios to forecast scenario outcomes and to compare the different scenarios.
Time vs scenario comparisons and analysis
  • Easy switch between comparisons and analysis between time periods and scenarios
Drill down functionalities to key drivers
  • Possibility to drill down to key drivers (of each risk component)
Flexibility of the model
  • The model is built in such a way so it is easy to add and/or replace modules with insurers own modules

Deloitte

Deloitte provides industry-leading audit, consulting, tax, and advisory services to many of the world’s most admired brands, including 70% of the Fortune 500. Our people work across more than 20 industry sectors with one purpose: to deliver measurable, lasting results. We help reinforce public trust in our capital markets, inspire clients to make their most challenging business decisions with confidence, and help lead the way toward a stronger economy and a healthy society. As a member firm of Deloitte Touche Tohmatsu Limited, a network of member firms, we are proud to be part of the largest global professional services network, serving our clients in the markets that are most important to them.

Website
http://www2.deloitte.com/us/en.html
Address

Deloitte United States

30 Rockefeller Plaza

New York, NY 10112-0015

United States

Website: https://www2.deloitte.com/us/en.html

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Deloitte Japan

Marunouchi Building, 2-4-1 Marunouchi

Chiyoda-ku, Tokyo 100-6390

Japan

Website: https://www2.deloitte.com/jp/ja/pages/about-deloitte/articles/dtc/dtc.html

 

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Deloitte Brussels

Gateway, Luchthaven Nationaal 1 J, 1930

Zaventem, Belgium

Website: http://www.deloitte.com

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Deloitte Australia

225 George St

Sydney, New South Wales 2000

Australia

Website: http://www.deloitte.com.au

 

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