About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Ecclesiastical Insurance Group Selects DataFlux for Solvency II Data Management Implementation

Subscribe to our newsletter

DataFlux, a provider of data management solutions, today announced that Ecclesiastical Insurance Group, a commercial insurance specialist, has selected DataFlux technology to support the implementation of its  data management  programme. This initiative will help enable compliance with the Solvency II Directive data requirements and improve operational efficiency.

The DataFlux Data Management Platform will be deployed to help control the integrity of data and will provide Ecclesiastical with the means to comprehensively govern its data. The implementation will enable Ecclesiastical to establish a process for monitoring and reporting on the quality of its business data over time, allowing the company to provide the business and regulators with intuitive, auditable metric-based reports.

As an insurer selected for the UK Financial Services Authority (FSA) Solvency II IMAP pre-application process, Ecclesiastical is keen to demonstrate the high accuracy of its business data. The insurer will use DataFlux technology to help validate the information from across the group within its Solvency II capital adequacy models. By proving robust data processes to the FSA, the project will allow the group to conduct risk assessments according to its internal data models, as agreed with the FSA.

Godfrey Morgan, newly appointed data quality manager at Ecclesiastical commented: “Our industry is fundamentally changing the way it manages and reports on risk. As we are undertaking the FSA Solvency II IMAP pre-application process to implement our own internal models for capital requirement calculations, we need to ensure our data management processes are of the highest standards and the data feeding our risk models is of the highest quality.”

He continued: “We’ve been moving early to comply with the Solvency II mandate that data must be ‘complete, accurate and appropriate’. In the next 24 months, all UK insurers will need to undertake a similar review of their data management practices – so it’s a significant challenge for our industry.”

Colin Rickard, EMEA managing director at DataFlux added: “As we have worked alongside insurance companies over the last few years, we have seen their need for robust, auditable and tailored data management solutions for Solvency II. European insurers are looking to prove the validity of data used by their internal capital adequacy models and demonstrate they are processing claims in the best interest of policy holders. DataFlux helps them to do just that, while accessing other benefits offered by high quality data such as operational efficiency and improved decision making.”

Ecclesiastical’s data management project isn’t solely focused on the FSA’s mandate for capital adequacy. As part of its ongoing business intelligence programme, the ability to profile, monitor and report on core data sets across the group allows Ecclesiastical to improve its data, quickly make more informed decisions and better meet customers’ needs.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: How to simplify and modernize data architecture to unleash data value and innovation

The data needs of financial institutions are growing at pace as new formats and greater volumes of information are integrated into their systems. With this has come greater complexity in managing and governing that data, amplifying pain points along data pipelines. In response, innovative new streamlined and flexible architectures have emerged that can absorb and...

BLOG

EU’s AI Act Loads Data Responsibilities on Institutions but also Offers Opportunities

Financial institutions are under pressure to put their data estates in order as the European Union’s artificial intelligence regulation comes into force this week, threatening huge fines for failures to observe its tough rules on the safe and fair use of the technology. Nevertheless, the introduction of stringent measures that will place new compliance burdens...

EVENT

TradingTech Summit London

Now in its 15th year the TradingTech Summit London brings together the European trading technology capital markets industry and examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions.

GUIDE

Regulatory Data Handbook 2025 – Thirteenth Edition

Welcome to the thirteenth edition of A-Team Group’s Regulatory Data Handbook, a unique and practical guide to capital markets regulation, regulatory change, and the data and data management requirements of compliance across Europe, the UK, US and Asia-Pacific. This year’s edition lands at a moment of accelerating regulatory divergence and intensifying data focused supervision. Inside,...