Getting Ready for Solvency II – The Time is Now

European insurers face many issues that need to be resolved before adoption of Solvency II in January 2016. A significant amount of work is needed between now and 2016 to address preparedness across all three pillars, with action needed especially for Solvency II, Pillar 3 Reporting. The good news is that Tagetik took the bull by the horns several years ago and, along with our partners in Europe and several development partners in the insurance industry, started developing a pre-built application. In fact, one of our customers, TVM, was the first European insurance company with an integrated and standardized statutory and Solvency II-compliant reporting processes. Today, more than 40 insurance companies are using this application to automate Solvency II compliance reporting.

Tagetik’s pe-packaged application is not just as reporting output template, it has pre-built workflows, reports, calculations, and controls so you can:

  • Calculate Solvency Capital Requirement (SCR), Minimum Capital Requirement (MCR) and other KPIs according to standard formula
  • Complete all quantitative (QRT) reporting with built-in diagnostics to ensure data accuracy
  • Complete all qualitative obligations: FCSR, RSR and ORSA via built-in narrative templates
  • Generate traceable, auditable numbers and run stress tests at corporate and division levels
     

To help you achieve fast results and significantly reduce manual effort, the pre-packaged application contains pre-built templates for data-entry forms, reports, narratives and XBRL output for automated, computerized filings. In cooperation with our distributors and partners, we also offer maintenance services to keep the application aligned with changing EU or national regulations.
 

Learn more on Solvency II! Download Solvency II Data Sheet


Tagetik for Solvency II

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