Join us on December 2nd for our LIVE 60 minute demo of our leading IFRS 17 accounting solution – IFRS 17 Comply. The demo provides a high-level snapshot of the base-line functionality including how data is brought in, how the IFRS 17 calculations are performed, how accounting transactions are generated and the relevant disclosures and other reports are produced.
IFRS 17 has been the biggest regulatory change impacting General Insurers for decades. Under the standard, GIs will need to change how they report their liabilities. How they recognise profit over time will radically change due to new best estimate valuation requirements. Traditional measures and terms that GIs are familiar with will disappear, such as GWP and Unearned Premium Reserve. GIs will need to report new items in the Income Statement and new Disclosures specific to the measurement model they select. General Insurers will need to assess their product offering and decide which measurement model to follow, the GMM/Building Block approach or the PAA approach, or a combination of both. Under both models new calculations and new sets of data at increased levels of granularity will be required.
Aptitude Software has been implementing IFRS 17 for GIs globally since 2018. Our IFRS 17 Comply offering can solve these problems for you and give you a clear path to fast IFRS 17 implementation.
Can’t make this one – click below to register for one of the next live IFRS 17 Comply demos.