ASTRA –Solvency II SCR

How do you manage the complexity of the Standard Formula?

ASTRA is an Excel-based Solvency II Standard Formula tool developed in response to the demand for a simple, easy to use and cost-effective solution to completing the Standard Formula calculation.

ASTRA’s suite of insightful management information allows firms to minimise the time spent on the calculation and focus on understanding its commercial impact.

ASTRA also supports scenario calculations required for the ORSA, and all SCR-related quantitative reporting templates (QRTs).

Watch the video to learn more:

The figures contained in this video are for illustrative purposes only.

ASTRA is a simple, transparent and efficient solution to the Solvency II Standard Formula calculation

ORSA modelling

ASTRA’s scenario calculation tool enables users to efficiently support both commercial decision making and the ORSA process. ASTRA provides easy identification and interrogation of the key drivers of the SCR helping risk teams to focus on making informed, risk-based decisions.

ASTRA’s scenario tool allows users to assess the impact of change in key business plan inputs on the overall SCR, including:

Premium growth across lines of business and regions
Change in the size and distribution of claims reserves
Alternative investment strategy
Counterparty rating adjustments

ASTRA includes a SCR comparison tool which allows users to easily compare inputs, outputs, and calculations between different ASTRA models.

Reporting support

The Pillar 3 reporting requirements under Solvency II have created a significant challenge for firms. ASTRA supports organisations by automatically populating the SCR-specific QRT templates. This eliminates the need for re-entering data or re-linking and minimises the potential for operational error.

ASTRA includes functionality to support the production of QRTs in an XBRL format. It is also designed to efficiently support audits, as input and output workbooks can be easily exported and shared with auditors.

Aon UK Limited is authorised by the Financial Conduct Authority (FCA) for insurance distribution activities only. The services described in this document are not regulated by the FCA. FP.AGRC.1387.SECab

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How ASTRA helps

Cuts through the complexity of the calculation, so you can focus on insights from the results
Intuitive Excel interface provides a user-friendly environment and additional flexibility
Dynamically customised interface to match your business profile
Delivers insights enabling business stakeholders to make data-driven decisions
Quickly identifies potential errors in data inputs to support your first line of defence
EIOPA updates are continuously monitored and implemented

Our team

Our Solvency II experts are committed to continuously enhancing ASTRA to meet the needs of our users and the ongoing demand of the SCR calculations. ASTRA is licensed by organisations across Europe and the results have been subject to review by auditors and regulators.

In addition, Aon’s actuaries use ASTRA to support hundreds of SCR calculations for their clients each year. We have a deep understanding of the complexities of the Standard Formula and the requirement for an efficient and robust calculation tool.

Our experience and continuous development of ASTRA helps to deliver usability, simplicity and performance.