Success Story: Baloise Belgium Simplifies SFDR with cleversoft

Baloise Belgium N.V. is a 100% subsidiary of the Swiss Baloise Holding AG. The company has been active in the Belgian market since 1986, offering both non-life insurance (e.g., auto, home, liability) and investment products for retirement and risk coverage. Its clients include both individuals and businesses, and distribution is handled exclusively through independent brokers. 

As part of its life insurance offering, Baloise Belgium provides a wide range of so-called wrap funds – products that bundle multiple ETFs from other providers (e.g., BlackRock, Pictet). Since these funds are created in-house, Baloise Belgium must fully comply with SFDR requirements: From pre-contractual documentation to ongoing ESG data reporting for each underlying fund, all the way to publishing the latest ESG wrap fund data on its website. 

To fulfill these extensive reporting obligations accurately and with minimal effort, Baloise Belgium was looking for an efficient solution. 

About Baloise Belgium N.V.

• Founded: 1986 (Baloise Belgium N.V.), 1863 (Baloise Group) 

• Employees: Approx. 1,570 in Belgium, approx. 8,000 globally (Baloise Group) 

• Global Presence: Holding headquarters in Basel (CH), Belgian HQ in Antwerp, additional offices in Belgium, Germany, Luxembourg, and Switzerland 

• Core Offering: Life and non-life insurance 

• Market Position: 4th largest non-life insurer and 10th largest life insurer in Belgium 

The Challenge: High Reporting Effort and Limited Resources

At first, Baloise Belgium found the ESG/SFDR regulations clear and understandable. However, the actual implementation quickly became a challenge: Processing EET files from the Asset Managers, processing and analysing the data, and updating documentation in line with evolving guidelines exceeded the company’s available organizational and personnel resources. 

Complicating matters further: Many of Baloise’s fund products promote environmental or social characteristics and thus fall under SFDR Article 8 or 9, bringing additional reporting burdens. 

The Solution: SFDR Compliance Service from cleversoft

Given the complexity of ESG/SFDR reporting, Baloise was looking for an automated solution to significantly reduce the day-to-day workload. The goal was also to simplify the launch of new fund products. After evaluating several providers, Baloise Belgium chose cleversoft. The decision was driven in part by the strong results already achieved with cleversoft’s PRIIPs Compliance Service. In addition, the complete SFDR package – combining advanced technology with expert support – proved to be a compelling choice. 

With SFDR deadlines approaching, implementation began without delay: The onboarding teams from both sides were set up quickly. Experts collaborated to analyse Baloise’s sustainable product universe and defined the desired fully automated end-to-end process tailored to their specific needs. 

The Result: Full Compliance with Significantly Less Effort

Thanks to cleversoft’s extensive support, implementation was smooth and fast, going live before the regulatory deadline in December 2023. 

“The reporting obligations associated with distributing funds under Articles 8 and 9 of the SFDR Regulation were initially a major challenge for us. cleversoft provided enormous support in managing these obligations, allowing us to bring a solid and compliant offering to market. Without cleversoft, the effort required would have been many times greater.” Ruth Bosmans, Manager Product & Portfolio Management Life, Baloise Belgium N.V. 

In business-as-usual operations, the efforts for SFDR document generation and online publicationadjusting narratives, reviewing and signing off documents via the cleverFlow tool. An efficient review process was also established. Data calculations run fully automatically, resulting in significant time and cost savings. With cleversoft’s support, Baloise was also able to overcome the initial hurdles in the extended reporting requirements for Article 8 and 9 products. 

The publication of ESG data on the Baloise website is now automated via a cleversoft microsite tool. In 2024, FactsheetsLIVE was also integrated to provide centralized web access to all fund data, further strengthening Baloise’s investment marketing and distribution capabilities by giving brokers instant access to all required documentation. 

In Summary: The cleversoft Partnership Delivers Real Value for Baloise

• Efficiency Gains
  cleversoft’s user-friendly tools reduce manual processes and increase operational efficiency. With full automation in place, errors and missing documents are a thing of the past. 

• Reliable Compliance
  The cleversoft Compliance Commitment ensures full adherence to current and future regulatory requirements. 

• Stronger Sales Enablement
  The distribution process—especially during client consultations—is greatly accelerated through automated availability of regulatory documentation. 

• Holistic Platform
  cleversoft’s SFDR service integrates seamlessly with existing solutions (e.g., PRIIPs) and can be extended to cover the full spectrum of regulatory needs. 

• Comprehensive Support 
  cleversoft experts support every phase of the collaboration—from planning and process design to implementation and ongoing after-sales support. 

We thank Baloise Belgium N.V. for their positive feedback and look forward to continuing our successful partnership. 

Does your organization need an efficient solution for SFDR documentation or other regulatory challenges? Contact us today and discover how cleversoft can transform your regulatory processes. 

Visit our website to learn more about our SFDR service offering.