  The implementation of the Own Risk and Solvency Assessment is a critical
issue raised by Pillar II of Solvency II framework. In particular the Overall
Solvency Needs calculation left the Insurance companies to define an optimal
entity-specific solvency constraint on a multi-year time horizon. In a life
insurance society framework, the intuitive approaches to answer this problem
can sometimes lead to new implementation issues linked to the highly stochastic
nature of the methodologies used to project a company Net Asset Value over
several years. One alternative approach can be the use of polynomial proxies to
replicate the outcomes of this variable throughout the time horizon. Polynomial
functions are already considered as efficient replication methodologies for the
Net Asset Value over 1 year. The Curve Fitting and Least Squares Monte-Carlo
procedures are the best-known examples of such procedures. In this article we
introduce a possibility of adaptation for these methodologies to be used on a
multi-year time horizon, in order to assess the Overall Solvency Needs.
