SOLVENCY II

SOLVENCY II solutions

Three pillars of one unified CCH Tagetik Solvency II solution

CCH Tagetik handles complicated Solvency II reporting for you so that you can invest more of your time to produce added value and beneficial financial analyses. Solvency II solution by CCH Tagetik takes advantage of industry expertise to ensure data governance, mapping and traceability to comply with the rules and regulations of today and tomorrow.

Requirements

Pillar 1: Quantitative requirements

There is no need for a complicated and heavy system that demands huge amount of consultation so that requirements of the pillar 1 can be answered to. CCH Tagetik solution offers ready-to-use templates to automatically handle Solvency II reporting and produce calculations by the standards set by pillar 1 without any manual effort during consolidation and calculation.

Pillar 2: Qualitative requirements & supervision

Pillar 2 requires a lot, but CCH Tagetik offers a solution. CCH Tagetik Solvency II solution includes an ETL-process for extracting data, integration with risk calculation engine, integrated Pillar 2 calculation and best-practice reports, which can be customized and includes figures and narratives required by ORSA.

Pillar 3: Disclosure requirements

The CCH Tagetik Solvency II Pilar 3 solution includes calculations, narratives for risk assessments and templates. CCH Tagetik also includes templates. CCH Tagetik supports XBRL validation and EIOPA standards in data export and import with integrations and audit logs to make sure that reporting is transparent and compliant. With CCH Tagetik Solvency II you are also able to visualize the data in pillar 3, so that you are instantly able to spot key figures perform needed analyses.

Advantages

Calculate reliably capital requirements (MCR, SCR) by taking advantage of the intelligence CCH Tagetik offers.

Reduce risks with stress test, simulations and forward-looking assessment of own risks (FLAOR).

Forecast accurately future capital requirements, sensitivity and what-if scenario analysis.

Minimize data errors using system’s repository, which offers ETL-features to seamless integration with other data sources.

Fast publishing of reports and information (SCFR, RSR, ORSA etc.) with prebuilt quantitative templates in both entity and corporate level.

Use automated XBRL-generation, validation and EIOPA classifications to simplify report filings.

Built-in Intelligence

CCH Tagetik not only offers prebuilt templates for data entry, diagnostic tools and reporting but also calculation logics, narratives and XBRL-information exporting. CCH Tagetik Solvency II solution is packed with built-in SCR and MCR calculations to answer the quantitative requirements set by Pillar 1.
By using traceable figures, stress tests and data quality, CCH Tagetik makes sure that narrative elements maintain their integrity. Predefined models and auditing trail guarantee that requirements of Pillar 2 are fulfilled, checking processes are accurate and reports are flawless.

Accurate and Traceable Data

Disclosure Management

With customizable and automated workflows and data mapping, CCH Tagetik adjusts its processes so that it can cover all the reporting requirements e.g. Solvency II. CCH Tagetik reforms budgeting, planning, modelling and consolidation with one unified CPM solution, that refers all needed figures accurately to their places in all regulatory reports.
Visualization in CCH Tagetik Solvency II offers prebuilt reporting portals to visualize information from Pillar 3, so you will be able to perform the needed tasks quicker and instantly get information on key drivers. Portals can be used within Tagetik or with any other source. Portals can be configured to suit customers’ needs and preferences.

Visualization

Part of Unified CPM Solution

Every regulatory report is a result of all the financial processes and reporting systems coming together. CCH Tagetik reforms budgeting, planning, modelling and consolidation with one unified CPM solution, that refers all needed figures accurately to their places in all regulatory reports.
Every organization has to have a fast and efficient solution with strong validation capabilities related to regulations of Solvency II. CCH Tagetik offers a robust, intelligent and easy to use XBRL output tool that you can use to automatically transform financial information into XBRL filings, which can be easily forwarded to the next filing cycle.

XBRL Outputs