On 6 September, EIOPA published a report on data quality in Solvency II reporting, which takes stock of the improvements made in data quality over the years.
More information can be found here.
Background
EIOPA observes a positive trend in the data quality with improvements over the last years in:
· quality of data due to automated data quality processing solutions, analytics tools and validations in XBRL taxonomy,
· multiple key performance indicators and quality scores,
· quality benchmark indicator for annual solo reporting (from 82% in 2016 to 94% in 2020).
EIOPA recognises the central importance of high-quality data and is committed to further improving the quality of data it receives via Solvency II reporting and will continue to monitor the evolution of these indicators.
In addition, the report also describes the intensive and wide usage of Solvency II data by EIOPA for analyses, statistics, impact assessments, supporting national supervisory authorities, technical advice and various other publications.
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