Insurance — Regulatory Reporting Automation for Compliance Standards

Overview

The purpose of this DAG is to automate the generation of regulatory reports that comply with Solvency II and IFRS 17 standards, which are critical for the insurance industry. The data sources include financial transaction records, operational performance metrics, and compliance checklists. The ingestion pipeline begins with extracting data from these sources, followed by data cleansing and transformation to meet regulatory requirements. Key processing steps involve validating the data against pr

The purpose of this DAG is to automate the generation of regulatory reports that comply with Solvency II and IFRS 17 standards, which are critical for the insurance industry. The data sources include financial transaction records, operational performance metrics, and compliance checklists. The ingestion pipeline begins with extracting data from these sources, followed by data cleansing and transformation to meet regulatory requirements. Key processing steps involve validating the data against predefined compliance rules, aggregating financial metrics, and generating comprehensive reports that highlight compliance status and financial health. Integrated validation and auditing mechanisms ensure data integrity and traceability, which are vital for regulatory scrutiny. The outputs of this DAG include detailed compliance reports, audit trails, and summary dashboards for stakeholders. Monitoring KPIs such as report accuracy, processing time, and compliance adherence rates provide insights into the efficiency of the reporting process. By ensuring timely and accurate reporting, this DAG enhances the organization's ability to meet regulatory obligations, reduces the risk of non-compliance penalties, and supports informed decision-making for business growth.

Part of the Governance & Compliance solution for the Insurance industry.

Use cases

• Reduces manual effort in report generation
• Enhances compliance with regulatory requirements
• Improves accuracy and reliability of financial reporting
• Facilitates timely decision-making for management
• Minimizes risks associated with regulatory non-compliance