The EU regulation on packaged retail and insurance-based investment products (PRIIPs) has led to a new requirement for the exchange of PRIIPs data via EPT between fund managers and insurance companies.Contact us
Since 2018, the PRIIPs Regulation obliges insurance companies to provide a PRIIPs Key Information Document (KID) for insurance products including unit-linked and multi-option products (MOPs).
In order to produce the KID, insurance companies require to obtain PRIIPs information from the fund managers of the underlying funds.
The EPT ("European PRIIPs Template") and CEPT (Comfort European PRIIPs Template") are published and maintained by FinDatEx and used as the industry standard for the exchange of PRIIPs data between asset managers and banks to insurers to help them fulfil their PRIIPs regulatory obligations.
The EPT contains fields that are calculated according to PRIIPs regulation standards: risk indicator (SRI), performance scenarios, cost disclosure (RIY) and some additional informative fields.
This brings some challenges with regard to data management, classification, calculations, market data collection, report preparation and report distribution.
Fund providers must be able to calculate and transmit their PRIIPs data according to EPT and CEPT standards.
Insurance companies must request, check, evaluate and further process the EPT/CEPT to produce their KIDs.
The Capmatix Regulations solution for PRIIPs/EPT/CEPT centralises your data management, automates the PRIIPs EPT production flow and minimises your operational efforts and risk.
Flexible collection of raw data from administrators, own systems and look-through platforms
Collection of market data (arrival prices) from up to six data providers using the "waterfall concept"
Validation of input data via a multi-stage verification process
Management of all product narratives
Continuous monitoring of all processes
Ongoing monitoring of results with an alert function
NAV import according to share certificate class, proxy and market indices
Calculation of market risk for all PRIIPs categories
Calculation of performance scenarios for any given holding period
Calculation of costs, total costs and impact on Reduction in Yield according to PRIIPs
PRIIPs-compliant calculation of both historical and current transaction costs on the basis of arrival prices
Optional calculation of transaction costs according to the spreads or new PRIIPS method
Automated calculation, creation and distribution of data in EPT or CEPT format, as well as in other formats if required (EMT, DCPT, ICT, FVPT, WM Fundinfo / Openfunds)
Automated distribution of reports to insurance companies
Automated distribution to regulatory hubs