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Igloo Standard Formula

Igloo Standard Formula is a powerful modelling tool used to calculate the Standard Formula under Solvency II and to undertake multi-year Solvency Capital Requirement (SCR) projections for the Own Risk and Solvency Assessment.

Insurers can quickly see how decisions might impact risk performance and use model outputs to promote a wider understanding of risk within the business. This in turn allows for better decision making and enhanced overall business performance.

The key benefits of Igloo Standard Formula include:

  • Quick and easy to implement out-of-the-box solution for undertaking Solvency II compliant Standard Formula calculations
  • Robust, scalable, comprehensive and auditable solution, which avoids spreadsheet type restrictions
  • Optimised process removes the need for multiple runs
  • Ability to undertake sensitivity and scenario testing, and projections of future SCRs
  • Maintained and upgraded by Willis Towers Watson to reflect changing regulation
  • Incorporates aggregation of group structures
  • Population of relevant SCR and Minimum Capital Requirement (MCR) Quantitative Reporting Templates (QRTs)
  • Unrivalled support for upgrading to partial models
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