“Solvency 2 Directive” makes regulation information readily available on mobile phones and tablets
CIMCON Software, Inc., the recognized Global Market Leader in Spreadsheet Management and Control Solutions that reduce risk in End User Computing (EUC), today announced the launch of the “Solvency 2 Directive”, an innovative application for mobile phones and tablets.
Solvency II is a fundamental review of the capital adequacy regime for the European insurance industry, and will be adopted by all 27 EU Member States and 3 EEA countries.
Recognizing the far reaching impact of the Solvency II regulation on insurance companies’ operations and the critical need for insurers, auditors, regulators, and consultants to quickly and easily access the Directive at any time, CIMCON has developed the “Solvency 2 Directive”. This new app allows users to search the entire Directive by keyword, bookmark pages for faster access, and easily navigate through the regulation. The app is currently free of charge, and available from the App Store for the iPhone and the iPad.
“CIMCON Software is pleased to bring this innovative application to the marketplace,” said Sanjay Agrawal, Director. “We hope that users will find it to be an easy, useful and time-saving reference available at their fingertips on demand. A recent FSA study found that though spreadsheets were commonly used in internal models to support Solvency 2 compliance, most had issues relating to inventory, risk assessment, data lineages, quality and integrity. CIMCON provides enabling technology for automated inventory, risk assessment and dependency mapping; error analysis and documentation; and spreadsheet controls, to ensure data quality and reduce spreadsheet risk.”