CCH Tagetik Planning for insurance
Your business is unique. Your plans should be too
On a single platform, CCH Tagetik empowers you to develop annual budgets, rolling forecasts and long-range strategic plans that reflect the insurance industry’s unique planning needs.
Our flexible, unified approach enables you to align your top-down strategic plans with your bottom-up tactical budgets to focus your enterprise on common objectives, bringing consistency and confidence in a time of foundational industry flux.
planning for insurance key capabilities include
DRIVER-BASED PLANNING
Wouldn’t it be nice to have plans based on business drivers unique to insurance, while leveraging the benefits of a proven best practice template? You can in CCH Tagetik. In a unified solution, project gross written premiums, loss ratios, commissions and more, then automatically calculate the resulting earned premiums and expenses by product, division, delivery channel or line of business. Using our solution, you can respond to changing market conditions in real-time by simply adjusting business and cost drivers.
ADVANCED HIERARCHY MANAGEMENT
Growing organizations need to quickly and efficiently implement organizational changes and immediately reflect those changes in their business plans and reports. CCH Tagetik’s advanced hierarchy management enables Finance to efficiently update hierarchies, model potential changes, and apply point in time changes via “time dependant hierarchies” when they don’t want to restate history. Those hierarchical changes update immediately in all reports without the need to recalculate data cubes.
BUSINESS MODELING
When you need a picture of what’s coming down the road, there’s CCH Tagetik. Perform advanced data modeling on the statistical projections of premiums, at the group or individual level, across dimensions and forecast long-range, 3 and 5 year plans. With CCH Tagetik, you’re better able to understand bottom-line results and the associated revenue and cost drivers because you can model different scenarios using various allocation methods.
ANALYTICS AND INSIGHTS
How are deductibles, individual claims, premiums, or losses incurred impacting your financial results? CCH Tagetik’s reporting templates, dashboards and visualizations make it easy to see these how these drivers are affecting your business. Drill down to granular, detail-level data to assess performance drivers and to make more informed decisions.
PROFITABILITY PLANNING
Profitability isn’t black or white. It’s nuanced. It’s complex. But understanding it can be simple. Determine true profitability in CCH Tagetik by managing direct, indirect and activity-based costs and seeing the impact these have on margins and ROE. You also have the ability to monitor service, product, retail performance and play what-if scenarios to understand key drivers, and proactively adjust plans and budgets to optimize costs and financial results.
ADVANCED ALLOCATIONS
With CCH Tagetik, you can see the true profitability of every LoB, policy, and customer while incorporating different currencies, exchange rates and other advanced financial intelligence features. Drive allocations across multiple dimensions to better align cost and planning drivers, including: new volume, retention rate, average premium, acquisition cost, average cost of claims and more.
additional features
✓ What-If Scenario Playing
✓ Automated Process Governance
✓ Collaborative Workflow
✓ Self-Service Analysis
✓ Variance Reporting
✓ Detailed Audit Trail
✓ Unlimited Currency Rates
✓ Regulatory Compliance
CCH TAGETIK SOFTWARE IS TRUSTED BY LEADING COMPANIES IN THE insurance INDUSTRY
IFRS Consolidation, Solvency II, MVBS, BPF, IVASS (Genesi Project)
Budgeting & Planning
Planning, Consolidation, Solvency II, CDM
Budgeting and Planning, Consolidation, CDM
Budgeting & Planning
Budgeting & Planning
Testimonials
Customer Quotes
As an international group dealing in different currencies, we perceived a vital need for a state-of-the-art software solution that could deal efficiently with financial consolidation, strategic planning and monthly reporting. After evaluating a number of recognized CPM software vendors, we chose CCH Tagetik.
SAVA REINSURANCE COMPANY
Zvonko Ivanušič - CEO
CCH Tagetik has greatly improved our budgeting and forecasting processes. The system is easy to use and administer, which has improved the efficiencies for the Finance team and our end users. We selected CCH Tagetik based on the software’s ability to automate our budgeting and forecasting processes as well as financial reporting. Another advantage was CCH Tagetik’s partnership with Microsoft and their easy integration with Microsoft SQL Server database and Microsoft SharePoint.
AMERISURE INSURANCE
Barbara Cristea - VP Controller at Amerisure
Browse our Resources
Talking CCH Tagetik: 1 Minute on Revenue Planning and Global Assumptions with Amerisure Data Sheet
BUDGETING, PLANNING AND FORECASTING FOR Insurance
CCH Tagetik's Budgeting, Planning and Forecasting provides Insurance with industry-specific solutions.
Generali Group's Finance Transformation Program with CCH Tagetik Yes, I’d like to know more about CCH Tagetik
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