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2 min demo: Solvency II Pillar 3


Learn how CCH Tagetik's visualization (for Solvency II) provides pre-built dashboards to Pillar 3 reporting and disclosure to better manage your business.


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Transcript

Solvency II Pillar 3 is really the reporting that all insurance companies need to adhere to this means that there is a lot of data that needs to be collated from various different data sources and brought it to a central place, run calculations and report in the required format as defined by the regulators.

Now, with CCH Tagetik Solvency II Pillar 3 solution, we facilitate that reporting requirement.

Here is the look and feel layout of the required QRT, all the yellow cells are editable, so you can enter any data in there as all the purposes are connected in any intergroup transaction, and all the blue cells are automatically calculated, so I am not able to enter any data in those.

So, for example, if you want to change 50.000, just hit save and it's the normal Excel save.

So, if we look at provisions for example, going back to my workflow and open up my technical provisions, you'll see there's 2 types of validations within CCH Tagetik.

First of all is a visual validation within Excel, so opening up my technical provision form, you'll see my normal lines of business with my technical provisions and if I just scroll down to the bottom, you'll see the values in my balance sheet, nothing about my technical provisions thereby giving me a visual check saying that I'm cut of balance.

But visual check is not good enough, we also provide system validations.

Running a system validation anything that is not in balance will automatically fail and fail the validation, thereby not allowing the users to progress to the next step and thereby not being able to submit it to the regulator.

So the validation is not complete, and you can see all the list of all the errors that I've got, so you can see this 1,637 which if I don't know it was the technical provisions, I could just highlight it and click on 'Show Forms' and open up the form and it will take me straight away to the technical provisions in question and there, highlighting the technical provision that I have.

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