Simplify complex insurance reporting and compliance in the cloud, from statutory and financial reporting, internal controls, and regulatory compliance
Produce and maintain complex documents with connected data and reports
Workiva provides a connected reporting platform that enables teams to collaborate in real time, leverage insurance data in many forms, and streamline the insurance reporting process.
Connected documents and data
Insurance companies face sophisticated reporting requirements and numerous regulatory disclosures at the state and national level. Workiva combines insurance documents, workbooks, and presentations with convenient dashboards in one easy-to-use cloud solution.
Easily automate the transfer of data, inside and outside your multiple systems of record, to manage complex reporting requirements, such as actuarial memorandum, IFRS 17, and capital and solvency reporting. Compliance, actuarial, and risk teams can reference the most up-to-date numbers from a secure, central location, pull from the same data set for multiple reports, and link data and text across numerous documents and reports.
Streamlined insurance reporting processes
Gain time by eliminating error-prone manual tasks and creating a consistent, repeatable process in the Workiva environment. Linking data or text allows you to connect information across documents. When the source information is updated, any related content automatically updates, keeping your documents in sync.
Multiple individuals and teams can work simultaneously on the same documents from different locations. Commenting threads, tasking, and automatic audit trails keep everyone informed in a single platform.
Automate your internal controls process in a central cloud platform
Give your team a flexible, intuitive solution for Model Audit Rule (MAR), Sarbanes-Oxley (SOX), and broader internal controls requirements.
Connected MAR compliance
Workiva provides a flexible, intuitive solution for MAR and internal controls, designed for insurance firms of all sizes. Manage the entire internal controls process from roll forward through year-end in a central, intuitive solution. Connect data and narratives to update them instantly as changes are made, ensuring confidence in your critical information. Drive efficiency, manage evidence requests, and track responses and approvals across the enterprise.
Save time, improve accuracy
Workiva delivers a complete solution to optimize your Model Audit Rule (MAR) process. With a single platform, collect, aggregate, and report on your controls, and automate manual, repetitive compliance tasks. The comprehensive platform provides support for risk assessment, documentation, evidence management, testing, issue tracking, reports and dashboards, and certification.
Streamline insurance statutory and regulatory reporting
Eliminate the challenges of connecting source data for multiple regulatory and statutory reports. Collaborate across teams, manage version history, and drive data integrity and control in your reporting process.
Statutory and regulatory reporting
The Workiva reporting solution simplifies reporting demands by capturing, consolidating, and reporting the data needed for quantitative, narrative, and composite reporting templates. Increase efficiency and reduce risk for your reports by collaborating and linking data across multiple reports, documents, and presentations. Create a connected and integrated processes to ensure report quality, time after time. The solution supports a range of regulatory disclosure formats including XLS, XBRL®, and TXT.
XBRL® is a trademark of XBRL International, Inc. All rights reserved. The XBRL® standards are open and freely licensed by way of the XBRL International License Agreement.
Use a single strategic platform for the all the data and quantitative reporting aspects of Solvency II and other global insurance regulatory regimes governing risk and capital management.
Gain greater visibility into risk levels and controls
Eliminate time-consuming, error-prone manual tasks. Report collaboration, data linking, version control, and automatic audit trails ensure accuracy and a consistent, repeatable process.
Enterprise risk management
Simplify tracking and manage assessment feedback in real time, enabling a stronger ERM program. Optimize the capture of your most critical ERM risk data, leaving more time for risk analysis and action.
ORSA, RSR, and SFCR
Use a single strategic platform for all the data and quantitative reporting aspects of Solvency II and other global insurance regulatory regimes governing risk and capital management.
Demonstrate process transparency and integrity to key stakeholders with a reporting environment that streamlines document authoring, collaboration, and data management.
Avoid duplication of effort by linking narratives and data, allowing updates to automatically flow through to multiple reports with a single edit.
Leverage a connected cloud environment to more efficiently engage multiple contributors across departments, simplify documentation, and clearly present complex topics with easily understood narration and illustration.
During COVID-19, the corporate finance teams are working from home and the Workiva platform allows us to continue the processes we use the system for rather seamlessly.
For anyone considering Workiva, I’d definitely say 'Go for it'.
Workiva is bliss for those who love the 'team' in the word teamwork.
This was the first year we went live with Workiva, and we immediately saw the difference.
The Workiva Customer Success team is very supportive. I never heard 'this is not possible'.