Improve processes and insight with the power of AI
Finance and risk departments can greatly benefit from AI by improving efficiency, accuracy, and insight across nearly all aspects of their work.
Applying AI within Finance and Risk
Example of where and how AI adds value:
Automation of repetitive tasks
AI can automate data extraction from policy administrations or claims systems. Automation of reconciliations, journal entries and report generation (e.g. Solvency II QRTs, IFRS/GAAP disclosures) will save time, reduce manual errors, and free staff for higher-value work.
Advanced forecasting and predictive analytics
Machine learning models can improve cash flow forecasting under various economic and claim scenarios. AI can ingest external macroeconomic and internal behavioural data to enhance prediction quality.
Risk modelling
Generative AI can auto-document models, help explain assumptions, or validate results.
Enhanced stress testing and scenario analysis
AI can detect unusual trends in expenses, claims, or investments.
Improved data integration and consistency
AI can assist with improving data integration and consistency by automapping and reconciling data across finance, actuarial, and risk systems. Creating single sources of truth via AI-powered data harmonization helps in aligning reporting under Solvency II, IFRS 17, and local GAAP.
Language processing for reports & documentation
AI can auto-generate commentary for internal and external regulatory reports or support with translating technical outputs into plain English for non-specialists.
How can we help
Utilizing our deep knowledge of the financial services industry and processes we can provide you with useful and concrete cases where AI can support today in Finance and Risk operations.
The CCH® Tagetik provides an intelligent platform ready to implement (generative) AI use-cases.
We can support you with:
- Advising on practical use cases to improve processes applying AI
- Implementing AI use-cases with CCH® Tagetik
