February 2018

Important changes to the aSISt technical requirements

Important, planned changes to the aSISt reporting system, aimed at increasing its efficiency and speed.

In July 2018 we are planning to release an important aSISt update. Planned changes will make it necessary to adapt the Java environment, hardware and operating systems to the new technical requirements.

The new version of aSISt, to be released in July 2018, will require 2 important changes:

Oracle database, version 10 or later

Older versions will no longer be supported, which means that the users with older versions of Oracle (such as Oracle 9) will not be able to use aSISt. It is possible to use a free version of the Oracle Database Express Edition 11g. Our Support Team will support IT system administrators during the database upgrade to the new requirements.

If you use the aSISt application with the Derby database, migration to the Oracle database is not required.

64-bit operating system

Due to Java 9 system requirements, we are planning to terminate aSISt support for 32-bit systems. Changing the system to 64-bit will enable much more efficient and faster work with the aSISt application. Please make sure your system supports 64-bit applications.

New technical requirements in force from July 2018 can be found at: https://support.asist-xbrl.eu/docs

If you already would like to change the aSISt version to a more efficient, 64-bit version, you can see instructions on how to do it at: https://support.asist-xbrl.eu/en/faq/ no. 1
Please make sure your system supports 64-bit applications. Otherwise, you will not be able to use aSISt.

Instructions on how to check the compatibility of Windows with the new system requirements are available at: https://support.microsoft.com/en-us/help/13443/windows-which-operating-system

If you have any questions or concerns, please contact the aSISt Support Team via:

Phone: +48 71 322 99 77 or email: support@asist-xbrl.eu

How to ensure data integrity and safety without T4U support?

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?

Pain-free and safe data migration

It is crucial to store the full history of already prepared reports and have the ability to correct, if necessary, previous reports within one tool. That is why the new reporting solution should allow for import of XBRL files. The data migrated from T4U must also remain unchanged.

Safety

Solvency II reports include detailed information on the insurer’s activity and fields of operation. For this reason the implemented reporting tool must ensure data safety. The system should not require Internet connection, which guarantees that there is no data transfer to or from the application outside the organization. In case of a cloud (Web) based solution, the issue of data safety is even more crucial due to the fact that information is transferred through the Web outside the company.

Data integrity

When changing a reporting solution, correcting reports or providing information to other stakeholders, it is important to make sure that data have predefined processing stages and can be modified only in particular phases. Sometimes, reports already submitted to the supervising authority have to be corrected, so a possibility to amend a submitted report is a must. All changes have to be monitored and should be auditable. Moreover, reports imported to the new solution have to be stored in a database or in backup files for emergency situations.

Data quality – the high-risk parameter

One of the most desired parameters of a reporting tool is the one ensuring high quality data. The data should be repeatedly checked at different stages of the reporting process. It is crucial that the reporting solution has a built-in real-time validator enabling visual presentation and easy access to any inconsistencies, independently from the reporting process flow. Such a reporting system should guarantee that the report has been validated before it enables final report generation.

Solution

The aSISt application handles the full reporting cycle, from data entry to mandatory internal report validation and generation. A user-friendly interface ensures comfortable everyday reporting. And thanks to configurable modules, users can decide which reports or additional functions will be used by the entity.

To find out more about aSISt Solvency II, visit https://solvency.asist-xbrl.eu/en/

Please contact us to receive more information about aSISt Solvency II