Case Study: Zurich achieves faster, more transparent regulatory reporting with Softwire

Zurich cuts regulatory reporting time 5x with Softwire

Softwire worked with Zurich, a multinational insurer, who faced a complex challenge in meeting new regulatory reporting standards. The client needed to automate the collection and processing of detailed monthly cash reserve data, a multi-stage process that was under pressure from tight deadlines and involved a mix of manual and automated tasks.

Softwire implemented a bespoke software solution to replace the insurer's existing tools and spreadsheet-driven processes. This software automated data-processing, optimized performance, and provided a flexible user interface for actuaries. The results included a fivefold reduction in processing time for key tasks and the elimination of human error. Notably, a critical calculation that previously took over 14 hours was reduced to under three hours despite handling 200 times more data, providing greater operational flexibility and transparency for regulators.

Zurich