Zenith Actuarial has clinched InsuranceERM's Solvency II solution of the year award with its evo-insight solution.

evo-insight has been recognised for its innovative cloud-based platform designed to empower insurers in navigating the hurdles of Solvency II compliance and reporting.

It stood out to the judges as a comprehensive solution for Solvency II, seamlessly combining pre-built and bespoke business applications with advanced analytics.

This blend empowers insurers to eliminate lengthy build and maintain approaches through pre-built applications that swiftly adapt to each insurer's individual requirements.

evo-insight has demonstrably proven its value across various Solvency II-related issues including own risk and solvency assessments, capital management, business planning and year-end Solvency II and financial reporting.

Zenith Actuarial also offers a Solvency II market insights AI Service, powered by evo-insight. This service leverages data from the Prudential Regulation Authority to provide users with an interactive AI experience and a chatbot capability for sourcing and visualising market insights.

All of this allows evo-insight to help insurers overcome key challenges, and its cloud-based system means evo-insight can automatically scale up infrastructure as it's needed, allowing it to flex with insurers' needs and therefore lower costs.

As the continued regulatory changes are made to Solvency II, a spokesperson for Zenth Actuarial tells InsuranceERM the evo-insight solution will adapt as it is a "no-code managed and maintained solution".

Therefore "any changes to the regulatory II regime will be implemented, tested, and documented in the solution by the experienced Zenith Actuarial team", the spokesperson concludes.