Pillar 1: Quantitative Requirements
It doesn’t take a complex, IT heavy solution to address the complexity of Pillar 1. Tagetik provides pre-packaged templates that automatically reports specific data required by Solvency II and provides the calculation rules to accelerate Pillar 1 compliance, without the manual effort of consolidation and calculation.
Pillar 2: Qualitative Requirements & Supervision
Pillar II comes at you from many angles but Tagetik has you covered. Our Pillar 2 application has pre-built ETL for extracting data, integration with your risk calculation engine, built-in Pillar 2 calculations, and best practice reports that can be customized and contains both the numbers and the narrative for ORSA submission. And the reports roll-forward to save you time, every time.
Pillar 3: Disclosure Requirements
Tagetik for Solvency II, Pillar 3 includes standard formulas, provides narrative elements for risk assessments and pre-built templates. We support outputs – with XBRL validation and the EIOPA’s taxonomy – and inputs - with data integration and an audit log - so reports are transparent and compliant.
Solvency II KEY CAPABILITIES INCLUDE
Tagetik not only provides you with pre-built templates for data-entry forms, diagnostic checks and reports, but calculation rules, narrative and XBRL output too. Tagetik’s Solvency II software comes equipped with SCR and MCR calculations built-in and ready for Pillar I’s quantitative requirements.
Reliable, Traceable Data
With traceable numbers, stress tests and data quality, with Tagetik you can rest assured that your narrative elements retain integrity. Using a preconfigured template and audit trail, Pillar II’s requirements are satisfied, your review process is fool-proof and your reports are error-free.
With customizable, automated workflows and data mapping, Tagetik aligns your processes so that you cover all reporting requirements including Solvency II. Tagetik modernizes budgeting, planning, modeling and consolidation within a single, unified CPM solution to drive numbers accurately into all regulatory reports.
Organizations need to have a solution that is quick and efficient, with strong validation for Solvency II filings. That’s why we created a robust, intelligent and easy-to-use XBRL output tool that allows you to automatically transform your financial data into compliant XBRL based filings that can be easily rolled forward for the next filing cycle.
Part of unified CPM solution
No single regulatory report is an island. It’s the outcome of your entire financial management processes and reporting systems. Tagetik modernizes budgeting, planning, modeling, consolidation, workflow and controls within a single, unified CPM solution to drive numbers accurately and efficiently into regulatory reports.
Tagetik's Solvency II Software is trusted by leading companies in the insurance industry
IFRS Consolidation, MVBS, BPF, IVASS, Solvency II, Technical Provision
HULSKER FINANCE & BUSINESS CONSULTANCY
Auke Jan Hulsker - Project Manager
“Tagetik provides an excellent audit trail. TVM can now easily trace and show the adjustments that derive statutory consolidation and Solvency II reporting from one source.”
Martin Hemmen - Manager Finance
“Tagetik helped us become compliant with the regulations of Solvency II and create one main source for reporting. The system enables us to control and manage the full process of (non-) financial and consolidated data from local GAAP to Solvency II, in a way consistent with our goals and principles.”
Mojca Piškurić - Director of Risk Management Department
“By implementing Tagetik’s software we have established a unified platform for IFRS and Solvency II reporting on the group level in a relatively short timeframe, as we were able to implement the solution in only four months.”
On Demand Webinar
5 Common Issues Faced by Insurance Groups around Solvency II
Want to quickly implement a solution to fulfil your Solvency II requirements without settling for a quick fix? In this webinar we explore the 5 most common issues faced by Insurance groups and talk you through how they can be overcome.
browse our resources
How to turn Solvency II compliance into a business improvement initiative
by Sofia Consulting
Gartner Solvency II Market Guide Shows There is Still (a little) Time to Prepare
Blog post by Dave Kasabian - CMO Tagetik
Yes, I’d like to know more about Tagetik
For more information, please complete the below form and a member of our team will reach out to you shortly!