FinanceJune 07, 2022

Learn how a.s.r. Netherlands reduces risk and empowers future growth with CCH Tagetik's IFRS17 Solution.

a.s.r. selects CCH Tagetik's IFRS17 solution, with complete confidence, proven to deliver detailed accounting control and integrated seamlessly with their existing CCH Tagetik CPM software.
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We are an insurance that offers all types of insurance, life insurance pensions but also P&C and accident and health, both the regulatory and the market environment is a real changing environment, in terms of regulatory for instance we implemented Solvency II a couple of years ago and we are now in the process of implementing IFRS 17.

Two main thingsare expected from a financial Risk department, the first thing is that we need to have efficients low-cost highly compliant processes, so the license to operate for a financial institution is to have good quality reporting toolfor regulatory reports.

We use CCH Tagetik for consolidation, regulatory reporting and Solvency II, Tax, cost allocation: CCH Tagetik is one of our core system.

The confidence in CCH Tagetik was the main reason to also choose CCH Tagetik for the IFRS 17 solution.

Another reason that was that the IFRS17 solution in the CCH Tagetik environmentis a relatively simple and small solution whereas other providers designed larger and full scale solution and in our current finance risk architecture and we believe that adding another heavy systemwould not be a smart thing to do, so both the confidence on the one side but also the type of solution that is provided on the other side drove the decision to implement the IFRS 17 of CCH Tagetik.

In terms of the implementation phase, the benefits that we've seenin working together with CCH Tagetik is the fact that we were able to really give our own input and working on a solution together,seeing our own ideas in the new system and so we are very happy with that.

In terms ofimplementation time I think all in all we will end up with working on it for about a year and for an IFRS 17 solution I think that is very fairly quickly.

Based on our experience so far we are very happy.
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