Only an integrated system based on a combined data model, making it possible to automate account closing and financial management all the way to reporting processes, can guarantee compliance with current and future regulatory requirements (SOX, LSF, Solvency II, etc.).
Adaptable to all (re)insurers mainframes, the ADDACTIS® Closing solution enables you to preserve the characteristics of all your technical accounting applications. The specificity of its architecture, which allows comprehensive, per-segment or even per-contract/treaty analyses, is a unique asset to provide your organisation with more precise and efficient monitoring. ADDACTIS® Closing enhances a powerful and reliable calculation engine, along with unlimited possibilities to set appropriate algorithms and dynamic calculation formulas. It takes into consideration the specific features of the different accounting standards and includes the latest calculation methods.
The solution is used for account closing by numerous insurance and reinsurance companies, which already benefit from simultaneous reporting under various standards (US GAAP, Swiss GAAP, German GAAP, Solvency II GAAPS, IFRS, etc.). This is very complicated with standard tools.
In addition to its accounting functions, ADDACTIS® Closing generates prospective simulations of technical accounts and immediately usable reports for strategic decision-making. Its speed saves precious time during closing operations and makes it possible to integrate the most up-to-date information, enabling you to make decisions based on comprehensive results before the final closing.