Prima Solutions launches Prima Compliance 9.2, its scalable and user-friendly cloud platform for Solvency 2 reporting

Paris, February 18, 2021 – Prima Solutions, the leading French insurtech group for insurance and reinsurance professionals, announces the launch of version 9.2 of Prima Compliance Reporting, its Solvency 2 regulatory compliance solution.

This new 100% cloud-based version features an intuitive, user-friendly interface that streamlines the entire Solvency 2 reporting process and automates technological and regulatory updates. The application also comes with new functionalities, including improved internal reporting with more flexible working environments tailored to internal needs and a new option for directly entering status updates.

“Prima Solutions has been embracing the cloud since 2018, and we’re proud to offer all of our cloud solutions, including Prima Compliance,” explains Julien Victor, CEO of Prima Solutions. “Today, with this cloud version, Prima Compliance gives our customers seamless and ongoing access to new features in their application, as well as regulatory changes.Less than a year after the launch of Prima Compliance in cloud, we are seeing its success with our customer base: almost 1/4 of our customers have already adopted Prima Compliance V9, such as OCIRP, S2C and MF Précaution.”

A user-friendly application available in the cloud since the release of version 9

Unveiled at the Users’ Group event in November 2020, the application’s intuitive interface is now a mainstay of Prima Compliance, and the look and feel has been redesigned for consistency with all solutions offered by Prima Solutions. The intuitiveness of the new version optimizes the user experience with fewer navigation steps and faster response times throughout the entire reporting process, and in particular for XBRL exports to ACPR.

Also, hosting Prima Compliance in the cloud ensures data and operational security, as well as easy functional and regulatory updates. When it comes to Solvency 2 compliance, automating application updates is all the more crucial as regulatory changes happen frequently, with a trend toward more complicated constraints and even more changes. Prima Compliance users have the peace of mind of always having an application that meets regulatory requirements.

Improved internal reporting with greater flexibility

This new version offers additional options for making changes to reports generated for internal purposes, over and above regulatory needs. Users can customize their working environment by selecting only the information needed internally, which is simpler and saves time on each operation.

In addition to this improvement, the interface’s intuitive navigation now lets users perform their own configurations by creating groups for their internal needs, providing better visibility over their reporting.

Flexible data processing

Version 9.2 of Prima Compliance allows data to be adjusted with a new option for inputting status updates directly to correct and/or supplement previously added data. Users can now refine their data to suit their specific needs, throughout the reporting process.

Finally, improvements to the application’s calculation modules allow users to adjust the granularity of their data as needed for regulatory purposes. This finer level of data processing makes it possible to optimize the application’s calculations.