Igloo Standard Formula (ISF) forms part of a complete solution to calculate the Standard Formula Solvency Capital Requirement (SCR). ISF runs on Igloo, the market leader in capital modelling software. Igloo underpins the capital modelling decisions of many of the world’s leading insurers. With ISF, calculate your SCR with confidence, both today and in the future.
The Standard Formula calculation is complex. You need a robust and auditable solution that can present calculations in a logical manner, and that is not overwhelmed by the vast number of tables of data inputs. Igloo is an incredibly powerful modelling solution.
ISF is a ready-to-go, out-of-the-box tool that is fully maintained. It implements the full Solvency II standard formula calculation including P&C, Life and Health risks for solo and group entities. Users of ISF need only focus on the business problem without requiring a significant or deep knowledge of the tool.
Igloo is a highly flexible and intuitive modelling tool. It is the perfect solution to efficiently and robustly model the large volume of standard formula calculations. The environment is highly scalable, with plenty of spare capacity to cope with any future regulatory developments.
Once the core solvency capital requirement has been calculated, Igloo will allow multiple model runs to be performed with varying data inputs. This allows the user to expand the basic capabilities of ISF to include sensitivity testing, scenario testing and projections.
Our user helpline provides fast and expert advice in the use and deployment of the software.
ISF will automatically populate the relevant Solvency Capital Requirement (SCR) and Minimum Capital Requirement (MCR) Quantitative Reporting Templates (QRTs).
ISF is regularly maintained and upgraded by Willis Towers Watson to reflect changing regulations.
Our insurance professionals have vast expertise in building efficient, auditable processes. We also understand what data is required for the standard formula calculation. We can offer market leading consultancy and advice that is tailored to your own specific requirements.
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