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Triglav Group case study From building blocks to a unified performance management solution Daniel Potočnik, Tagetik Adriatic

Tagetik Conference September 19-20, 2013

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Agenda

Company and group overview The approach Key pain points Project overview and scope Project implementation Outcome & benefits Lessons learned Summary Q&A

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Company Overview

1

#1 Insurance group in Adriatic region

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Company Overview

The Triglav Group is the leading insurance-financial group in Slovenia and one of the leading groups in South-East Europe, where it is gaining ground and expanding its operations. It is present in eight markets and seven countries and employs over 5,470 people. The Group builds its reputation on knowledge, experience, trust and excellent attitude towards its clients, employees, shareholders and other stakeholders. The business of the Group is based on four pillars: • Insurance • asset management • Banking • activities supporting the three core financial pillars

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Company Overview

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Company Overview – interesting for Tagetik

40 subsidiaries 10 asociated companies Multiple reporting standards Reporting to regulator (ATVP & AZN) Statistical reporting, Captial Requirements...

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Key Pain Points

2

Where we started off with Tagetik

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Key pain points – multiple processes Consolidation process outdated Reduced reporting time windows Increasing reporting requirements Excel based solution – managability & stability Complex and tough to manage collection process Projects derived from consolidation, operational planning & controlling

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Project Overview and Scope

3

From building blocks to a unified solution

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Project Overview and Scope

8 projects + many “mini” applications

Consolidation (2010) Operational planning (premiums) (2011) Group controlling (2012) Operational planning (costs) (2012) Triglav Osiguranje – Croatia roll-out (2012)

Financial investments reconcilliation (2012) Solvency II (Pillar II & Pillar III) – in progress (2013/2014) CDM – in progress (2013/2014)

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Project Overview and Scope - Consolidation

Quarterly consolidation

Notes to accounts

Eliminations

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Project Overview and Scope – Group controlling – Operational planning

Monthly: Actuals + Forecast (cons.) + Plan (cons.) + Strat Plan (cons.)

Eliminations

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Unified CPM solution

Common controlling reporting for subsidiaries Rolling forecast Full analytics on financial statements Audit support Valuation of investments Local GAAP support

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Roll-out scenario out of the box

All group companies take full advantage of common applications (controlling, solvency, consolidation) Operational processes can be easily adopted to local requirements

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Project Implementation

4

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Tagetik application screenshots - consolidation

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Tagetik application screenshots - controlling

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Tagetik application screenshots - finance

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Outcome and Benefits

5

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Outcome and Benefits

Shorter preparation cycles Manageable and traceable data collection process Full audit trail Automatization (example curency conversions) IC Matching -> process pushed down to subsidiaries Drill down and analytics

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Lessons Learned and Recommendations

6

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Lessons Learned and Recommendations

Management support

Dedicated team

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Next Steps

7

In the middle of two projects

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Next Steps

Sucesfull completion of current work in progress (Sovency II & CDM) Ideas for the future

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Summary

8

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Summary

Triglav Group is #1 insurance company in Adriatic region 8+ projects on Tagetik Focus on individual areas benefits on group level Benefits on all areas of finance & controlling Current focus is Solvency II and CDM New ideas will come naturally

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Questions & Answers

9