Interactive Data, a financial data service provider, has launched a funds look-through service to help insurers meet Solvency II reporting requirements, in collaboration with investment research firm Morningstar.
The service aims to reduce the need for insurance companies or asset managers to source data from multiple providers, and to commingle that data to support insurers' efficiency on pillar 3 reporting obligations.
"Asset classification, with global entity linkage, gives institutional clients a streamlined view of their investments which could result in a reduced cost of capital," said Interactive Data's managing director of pricing and reference data for EMEA Claudio Salinardi.
"Working with Morningstar, we were able to combine our global cross-asset data coverage with Morningstar's funds holding data to enable a fully-integrated service."
Mark Roomans, chief executive officer of Morningstar UK added: "Forward-looking insurance companies understand the complexity of timely acquisition of high-quality data from hundreds of asset managers. What Morningstar and Interactive Data can offer together allows firms to take advantage of a unified solution that can reduce their costs and enhance their data governance."