IFRS 17 Comply Demo Live: Life Insurance – February 3rd

Join our product experts for a free IFRS 17 Comply demo
February 03, 2021 10:00am - February 03, 2021 11:00am (UK)
Overview
Speakers

Join us on 3rd February 2021 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 is one of the biggest regulatory challenges  to impact on Life Insurers for some time and under the Standard Life Insurers will need to change how they report their liabilities and profit. Perhaps though, the most radical change is way in which profit is recognised over time due to the introduction of the CSM, which is effect a deferred profits mechanism. Consequently IFRS 17 will affect the balance sheet and other key reporting metrics of insurers . Life Insurers will adopt the GMM  measurement model (and VFA  model if they have participating business) and under both models new actuarial models, IFRS 17 calculations new accounting and reporting practices will have to be introduced. Importantly a new level of granularity is needed for the calculations and  the Disclosures.

Aptitude Software has been implementing GMM and VFA projects  for life insurers globally since 2018 and we have gained significant insight in the challenges and issues. Our new IFRS Comply offering incorporates not only the requirements of the Standard but also our project learnings and provides life insurers a clear path to a rapid and compliant IFRS 17 implementation project.

Can’t make this one – click below to register for one of the next live IFRS 17 Comply demos.

Brian Heale
Senior Insurance/IFRS 17 Consultant, Aptitude Software
Brian Heale is a Senior Functional Solution Consultant at Aptitude Software and an insurance/ Solvency II/IFRS 17 specialist. He has a deep understanding of the interplay between technology, regulation and insurance and brings years of practical expertise. He has in-depth knowledge of the life and pensions business coupled with comprehensive understanding of enterprise technology in relation to the development and implementation of core administration, actuarial/risk modelling systems and Solvency II/IFRS 4 programs. Brian has worked with a number insurance companies across the world on both a permanent and consultancy basis and has run administration and sales divisions. He also and has considerable experience of strategic planning and analytics in the insurance market. ... Read more
Georgios Anagnostopoulos
Presales Engineer
Georgios Anagnostopoulos is a Presales Engineer at Aptitude Software. He has years of experience designing and delivering our solutions to clients and is a specialist of Aptitude IFRS 17 Comply and Aptitude Lease Accounting Engine. ... Read more