The Central Bank of Ireland (CBI) has introduced a number of reporting templates known as Solvency II Irish NSTs (“National Specific Templates”) which are deemed necessary to address requirements specific to the local market and/or the nature of insurance undertakings supervised in Ireland and which are not catered for in the set of Solvency II harmonised reporting templates produced by the European Insurance and Occupational Pensions Authority (“EIOPA”).
The only acceptable format for submission of National Specific Templates (NSTs) will be XBRL.
A decision was taken to extend the EIOPA Solvency II XBRL Taxonomy as the standard for reporting data submission between the Central Bank of Ireland and regulated insurance undertakings for Solvency II NSTs.
IRISH NST TAXONOMY and DPM.
The following products have been extended by the CBI:
- The Central Bank NST Data Point Model (DPM) is a structured representation of the data, identifying all the business concepts and its relations, as well as validation rules. The DPM contains all the relevant technical specifications necessary for developing an IT reporting solution (independent from the technical format).
- The Central Bank NST XBRL Taxonomy presents data items, business concepts, relations and validation rules described by the CBI NST DPM in the technical format of XBRL
INTERACTIVE VALIDATION RESULTS.
XBRL validation failure messages are typically very difficult to understand and to resolve. DPM authority helps the user by presenting each failure in a number of different ways. Each message is interactive where clicking on a failure will highlight the data points contributing to the issue in the user interface.
DRAG AND DROP ORACLE EPM AUTOMATION.
DPM Authority is the only Solvency II tool that can integrate natively with Oracle EPM (HFM, Planning and Essbase). EPM dimensions and their members are listed in the automation panel and can be dragged and dropped onto individual cells, entire rows, columns or sheets. It couldn’t be simpler.