265 insurance companies now using Tagetik's solvency II solution

21st March 2016

Tagetik, a provider of global performance management software solutions, has revealed that 265 insurance companies and more than 2,300 professionals throughout Europe are using Tagetik’s pre-packaged solution to help them meet the rigorous requirements imposed by the Solvency II Directive, designed to standardize the regulation of EU insurance companies and to reduce the risk of insolvency. The directive’s Pillar 3 (Full Measures) requirements, which govern disclosure and reporting transparency, went into effect on January 1, 2016.

 

 

 

Tagetik’s Solvency II solution was initially rolled out in 2012. Tagetik say their customers have successfully met all Solvency II Pillar 3 requirements to date, as well as unique local country requirements. Representative customers include companies such as Talanx, Aegon, Generali Group, Triglav, AG Insurance, Allianz, Nationale Suisse, Menzis and Univè, as well as Ania, Italy’s insurance association.

 “Because we could build on our extensive know-how in the banking regulatory reporting requirements as well as on the work we’d already done in areas such as disclosure, complex reporting, and data integration, we were one of the first to bring a complete pre-packaged Solvency II solution to market,” said Sabrina Rosati, executive vice president, global practice leader – financial services at Tagetik.  “Since we maintain the solution centrally, our customers never have to worry about keeping up with changes, which significantly saves time and ensures 100% compliance. To further help customers in making this transition, we have a fully trained support staff and a user community which provides a forum of shared project experiences from all over Europe.”

In addition to meeting Solvency II requirements, Tagetik say  their solution can also be used for other types of internal or external reporting, thereby increasing the value of a customer’s investment 

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