Frequently asked question on KPMG's Solvency II Vantage Analytics
Would you stratify the market benchmarking, for example between life and general insurance?
We will provide some metrics that will show splits between life and general. In future, we may further stratify, for example, by country.
Do you distinguish between solo and group entities?
For group entities the benchmarking will be against the whole population, in future we might benchmark just against other groups.
Will KPMG provide commentary on our results?
We will not provide any commentary on the results of the analytics as part of this service. However, if you would like to discuss your results with us, we may contract with you separately to provide further analysis and interpretation.
Which companies participate in this service?
The service is open to all British insurance companies and groups. However, we do not reveal any names or company-specific information. We will only share information about the number of companies included in the benchmark population and the location.
How can I be sure that the data I submit is secure?
Our data security policy complies with ISO 27001 standard, which specifies the requirements for establishing, implementing, maintaining and continually improving an information security management systems.
How much will the service cost?
An annual subscription comprising four quarterly reports and one annual report will cost £5,000 + VAT for 2016
In the case of groups, you would pay for each entity included and, if you wish, for your group as a whole. For example, for a group with three regulated insurers, the price for your annual subscription would be £20 000 (£5,000 for the group and £5,000 for each of the three insurance entities). Of course, if you would only like the report for one insurer, the price would be £5,000 per annum.
How does the free trial period work?
For the first hundred expressions of interest we are offering the first annual subscription free of charge. The offer will apply to one insurance company per group only.
What if I would like to subscribe half-way through the year?
It is possible to subscribe at any time. The price will cover the next four quarterly reports and one annual report.
Do you offer any tailored reports?
We do not provide reports tailored to each individual subscriber as part of this service. However, we may consider adding this feature in future.
Can I request a printed copy?
The report is available in an electronic PDF version only. However, it will be printable and editable for your needs.
How do we contract with you for this service?
The service is offered only through our standard contract terms, which will be shared with you if you decide to take up the service.
You will be required to sign the contract with us each year on the payment of the annual fee.
When will we receive the report?
We will aim to send you the report within one week from the end of the submission period specified on our website. For example, after the EIOPA submission deadline you would have one week to submit to us the XBRL file you had filed with thenational regulator and your Q1 2016 report would be available two weeks later, that is nine weeks after quarter ends for solo entities and 12 weeks for groups.
Who do I speak to if I want to know more?
Please contact X (TBD)
© 2017 KPMG LLP, a UK limited liability partnership, and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved.