Standardized FINMA Reporting on IBCS® Basis

The particularly stringent regulations of the Swiss insurance industry oblige insurers to give detailed account in form of reports – to the public as well as to the FINMA (Swiss Financial Market Supervisory Authority). In this context, the FINMA which is also obliged to report plays a key role as official surveillance instrument.

The strict rules result in respective requirements with regard to External Reporting: The Information Design of the reports (incl. visualization) must meet the highest possible demands.

Simultaneously, external investors/stakeholders request optimally meaningful details about business development as a confidence base. Moreover, the global competition is permanently increasing: Today, companies must use their available information about customers and competitors as efficiently as possible to hold their market positions.

In view of that, the SAC FINMA Panel by s-peers presents itself as an optimum, efficient and up-to-date solution in form of a standardized reporting platform (dashboard). The underlying data and data base model sums up the Annual Financial Statements (Balance Sheet plus Profit/Loss; segments: Life, Non-Life, Health, Reinsurance) of all 148 Swiss insurers which are officially published by the FINMA. The KPI analysis based on identical structure (FINMA) and currency (CHF) can be carried out historically for all business years – combined with the option to generate insight knowledge relevant for success by integration of other data sources.

Together with the high performance of the SAP Cloud platform, the dashboard’s standardized notation concept based on the IBCS® ensures that all requirements regarding FINMA Reporting can be met with maximum accuracy and efficiency – combined with active support of business objectives by using additional functionalities.

Our SAC FINMA Panel offers you a quick and safe start into Analytics plus all advantages of the IBCS® standardization.

Functions and Advantages

The design of our SAC FINMA Panel is oriented at the International Business Communication Standards (IBCS®) which base on the rules of the reference work SUCCESS by Prof. Dr.-Ing. Rolf Hichert. The internationally established IBCS® are conceptional, perceptional and semantic guidelines for visual presentation in reporting and formal business communication.

Thanks to specific use of this standardized notation concept, the dashboard communicates the reporting information in such a way that all factors relevant for success are provided to the respective addressees with maximum precision and transparency – ensured by recipient-specific preparation.

Optimum diagram/chart selection based on the IBCS® significantly increases the meaningfulness of the single reports and thus of the complete dashboard. Simultaneously, the visualization is reduced to the relevant information. This guarantees that the most important aspects can be read and interpreted quickly despite the high complexity.

FINMA Reporting on IBCS® basis therefore offers you a pure, accurate and transparent overview of the current situation by:

  • Reduction to the essentials
  • High information density (incl. opportunities to compare)
  • Systematic standardization via homogeneous visual language
  • Consistent structures and clear messages
  • Quick capture and pattern recognition for the reader

With regard to technology, the SAC FINMA Panel bases on the SAP Analytics Cloud. This new SAP product enables the comprehensive use of Business Intelligence (BI) and of analytical technologies within the complete organization – including functions which permit also the end users in the specialist divisions to carry out their own analyses quickly by Self-Service BI.

The functionalities for analysis and reporting are bundled in one single platform with standardized data base. This allows smooth communication between different organizational roles (incl. functions for teamwork and comments).

SAP ensures operation and support of the Cloud solution. Thanks to the SaaS (Software-as-a-Service) model, the software is purchased as a service with a rental charge per user. This fee respectively includes release upgrades, support by the SAP hotline (year-round 24/7), mobile apps for tablets/smartphones, process documentation, eLearning and WIKI. At the same time, you save all additional costs resp. investments for operation, maintenance and IT infrastructure (hardware, DB).

Ensuring the required reporting quality within the External Reporting of the Swiss insurance industry gets increasingly difficult due to the permanently growing quantity resp. complexity of legal regulations and data volumes. Moreover, business development and real business situation are often still depicted in a too imprecise or confusing way. Generally, the following basic problems can be observed in this context:

  • Use of skewed presentations
  • Use of ineffective diagrams/charts
  • Display formats difficult to understand
  • No standardization

The SAC FINMA Panel by s-peers removes these deficits in External Reporting by analyzing and visualizing the FINMA KPIs of the Swiss insurance industry according to a standardized approach. In the process, the essentials are filtered out of countless data and variables in a recipient-specific way. This also includes individual presentation in visual terms.

Standardization on IBCS® basis therefore plays a key role: Adequate preparation and presentation are absolutely necessary for understanding information as quickly and accurately as possible – and therefore for making better (planning) decisions of the operative or strategical kind.

This is actively supported by the possibility of generating insight knowledge relevant for success by integrating (besides own corporate data) also competition data, geographical data and/or even sociodemographic information. Transactional data for current data can be imported easily and quickly. At the same time, all regulatory requirements of the Swiss insurance industry are met optimally.

The SAC FINMA Panel (based on an SAP Analytics Cloud story) offers insurance companies an effective tool to meet all regulatory requirements accurately and to solve industry-specific problems in External Reporting with a positive impact on success:

The practice-oriented Information Design concept based on the IBCS® notation standard significantly improves the understandability, comparability, completeness, clearness and correctness of report contents.

The specific visualizations with clear structure and high data density considerably increase the relevance of the reporting. This does not only result in better decisions: Especially the trust of external investors/stakeholders in the reports and thus in the company is finally strengthened in a sustained manner.

As a modern Self-Service product, the SAP Analytics Cloud can be handled intuitively and is ready for operation in just a few days. One highlight in the context of the high user-friendliness is the possibility of preparing analyses and IBCS®-compliant presentations also without deeper technological know-how and/or without separate support by the IT department – in very short time and with maximum meaningfulness.

Standard Package
CHF 8.000,- plus VAT

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