Solvency II
Solvency II regulations change annually, with major updates introduced in taxonomy 2.8.0.
Insurance entities often rely on a wide range of systems, tools, models, spreadsheets, and legacy solutions to perform calculations and generate reports.
While such complex architectures may serve their purpose, they are often difficult and costly to maintain. Continuity typically depends on a small number of key individuals who possess critical knowledge of these systems.
Vendor-supported maintenance can pose additional challenges. For instance, providers like SAP or Oracle have announced plans to discontinue support for some of their solutions in the near future.
In many cases, weak audit trails combined with ongoing difficulties in demonstrating data accuracy and completeness lead to increased scrutiny from auditors and regulators.
The good news? The right software platform can help you overcome these challenges effectively.
CCH® Tagetik Solvency II solution
Hundreds of insurance entities across Europe rely on CCH® Tagetik's state-of-the-art Solvency II solutions to manage their pillar 1, 2, and 3 compliance processes.
Key Benefits
- Guaranteed compliance with the latest regulatory updates
- Coverage of EIOPA, UK, and local (NST) requirements
- Streamlined system architecture with fewer systems, tools, and spreadsheets
- Enhanced audit trail, faster closing and more reliable reporting
- Built-in workflow capabilities to support processes and improve data governance
- Efficient processing of large (assets) data volumes with short runtimes
- Flexible framework to accommodate entity-specific requirements
- Leverage the intelligent CCH® Tagetik platform to consolidate all reporting-IFRS, management reporting, planning, and budgeting-into a single, unified "one version of the truth" solution
How we can help
Our experts bring together deep actuarial knowledge of Solvency II and extensive technical expertise in implementing CCH® Tagetik.
We can support you with:
- Implementing the CCH® Tagetik Solvency II solutions
- Providing functional application management services
