New York, NY and London - Markit, a leading, global financial information services company, today announced that Markit Enterprise Data Management (EDM), formerly Cadis Software, has been named Best Enterprise Data Management Service Provider at the Insurance Risk Awards 2012.
Markit was praised for its EDM Solvency II solution, which enables users to manage and maintain quality data and establish a consistent data governance framework throughout their organisation. The solution will help insurance firms comply with the first major regulatory overhaul of the insurance sector since Solvency I in 2002. The platform has been extremely popular with insurance firms since it was launched at the end of 2010.
Daniel Simpson, Managing Director and Head of Enterprise Data Management, at Markit, said: “The inputs used by insurance companies as part of their capital adequacy calculations need to be able to withstand tough regulatory scrutiny. Recognising the challenges insurance firms would face, we have designed an EDM solution enabling them to provide detailed and accurate data at the subsidiary and group level and run detailed reports quickly, as and when needed. It is fantastic to see our efforts to help the insurance industry through this time of regulatory change acknowledged with this prestigious award.”