Before Tagetik, Baloise relied on multiple reporting systems, which complicated maintenance, coordination, and collaboration across departments. Tagetik allowed Baloise to consolidate these systems into a single solution, simplifying workflows and enabling a stronger focus on quality, optimization, and client needs.
The previous system, heavily customized since 2016, had become outdated, and Baloise strategically chose the timing for a switch. The selected pre-packaged solution was fully tailored to Solvency II requirements, covering both quantitative and narrative reporting (SFCR and RSR) and benefiting from quarterly upgrades by the CCH Tagetik development team in Italy.
A major challenge addressed during the migration involved the QRT reporting, which had faced technical limitations in the old system regarding master data and large data transfers. With Tagetik, the team successfully completed error-free data transfers and submissions to the regulator, and by 2024, they could focus entirely on process optimization.
Today, Baloise is leveraging its accumulated knowledge to enhance operational efficiency, data quality, and reporting precision. Looking ahead, the team envisions integrating AI into reporting processes, potentially automating controls, testings, and generating scripts to further streamline workflows.
Tagetik offers a comprehensive solution which enables us to meet all of our Solvency II pilar 3 reporting requirements. Tagetik keeps its solution up-to-date with changes in Solvency II regulations and offers a professional team to support us with access directly to the development team in case needed.
The solution is user-friendly offering us multiple methods for data integration, a workflow to support the reporting process and the ability to prepare qualitative statements like RSR and SFCR. We perform the entire process from datacollection, data validation, to approval and submission in Tagetik which eases our work since we now only have to run and maintain one system.
Tagetik has an established market presence with a very broad insurance customer base. We exchange with our peers on lessons learned and best-practices, allowing us to get the most out of Tagetik.
Ivan Djurdjevic - Group Risk Mangement
