CO "Talisman" moved from 710-P requirements to 781-P without threats to reporting

2023: Moving to 781-P Requirements

CO "Talisman" moved from 710-P requirements to 781-P without threats to reporting. This was announced on April 10, 2023 by Sintegro Consulting (Sintegs).

The 710-P indicator, designed to automate reporting preparation in accordance with Regulation 710-P, is adapted to the requirements of the 781-P. In March 2023, employees of the Talisman CO passed the first reporting to the Central Bank according to the updated rules.

The path to automation of financial stability requirements for CO Talisman turned out to be difficult: the first vendor could not fully fulfill its obligations. In this situation, the insurer needed a team capable of transferring the company to the last Regulation as soon as possible. Sintegs came to the rescue.

We met the Indicator 710-P at the presentation, we liked the presentation of the material: it was immediately clear that professionals were working, "said Elena Chernovets, chief accountant of the Talisman CO.

In order not to jeopardize the deadlines for submitting reports, the Syntegs team proposed automating the registries gradually. This is how users were able to immediately get to work. In the first stages, the data was collected in Excel and then loaded into the Calculation Indicator. At the same time, the flexibility of the Indicator did not require the company to change its IT infrastructure, the program is adaptive and interacts with the products of other vendors.

Sintegs assumed the task of moving to the 781-P Situation in 2023 as part of client support. As a result, the insurance company formed the reporting for January in the usual interface of the 710-P Indicator, which takes into account all changes in the requirements for forms 0420154 and 0420156.

In the future, Syntegs will also provide automation of the calculation of insurance reserves and the assembly of form 0420155: the project to connect the 781-P Calculator system has already started.