"FRS - Lifeline" set Indicator "710-P"

2022: Implementation of the "710-P Indicator"

The Syntegs company (Sintegro Consulting LLC) on October 28, 2022 announced the introduction of the Indicator 710-P product by the VSK - Life Line insurance company. Like other insurers, VSK-Life Line faced the need to comply with the 710-P Regulation. Communication with another vendor was delayed, which forced the insurance company to look for another supplier as soon as possible, before the entry into force of Regulation 710-P.

VSK-Life Line is part of the VSK Group
Photo: yandex.ru

Under these conditions, the insurance company was looking for a "boxed" product, that is, ready for installation, with a set of necessary functions. As a result, VSK-Life Line turned to Syntegs and acquired the 710-P Indicator - at that time one of the few ready-made solutions on the reporting software market. Together with him, they acquired the XBRL Factory in order to form reports according to the 710-P immediately in the format required by the Central Bank.

The project was of a consulting nature: the Syntegs team helped deal with filling out registers and working with the program. As a result, the first reporting was formed correctly, but the work was intense: the requirements, Bank of Russia like the 710-P Indicator itself, were new to users. During the reporting period, the Syntegs team helped VSK-Life Line employees until the reports were uploaded to their personal account. Bank Russia

From the functionality, you can separately mark the upload to the Counterparty Data Indicator from external databases. A big plus was that on the day of the first reporting, Sintegs accompanied the company at all stages. And we are already submitting reports as usual, told Galkina Maria , financial director of VSK - Life Line LLC.