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Press Release

Pan-American Life Insurance Group selects Aptitude Software’s IFRS 17 Solution

November 16, 2020
Sarah Werner

Aptitude Software is delighted to announce that Pan-American Life Insurance Group (PALIG) has selected the Aptitude IFRS 17 Solution, deployed as SaaS, to drive compliance with the IFRS 17 standard across their entities in the Americas.

PALIG is a leading provider of life, accident, and health insurance. The group serves millions of customers in 22 countries across the Americas and employs 2,100 people.

The company selected Aptitude’s solution based on its out-of-the-box nature which includes templates and accelerators to reduce the cost and resources associated with implementation. The solution’s flexibility and easy integration with third-party solutions were also strong factors.

PALIG Group Controller, Alvaro Muñoz commented, “The implementation of the Aptitude IFRS 17 Solution will ensure we are able to comply with IFRS 17 which is key for doing business in the regions we operate. We also believe it will position us to continue to build on our broader finance transformation journey.”

Alex Curran, EVP NA, states, “Aptitude continues to be the solution of choice for organizations that recognize the value of a specialist finance solution and expert resources to help them address the complexities of the IFRS 17 standard and add value beyond compliance.  We are thrilled to add Pan-American Life Insurance Group to our client community.”

Aptitude’s IFRS 17 Solution is the most mature solution on the market and is the solution of choice for many insurers across the globe. Differentiators include over 20 years of built-in, insurance-specific IP – calculations, business events, processes, and templated disclosures – which accelerate and de-risk the implementation process.

Recently, Aptitude Software was named a Category Leader in the Insurance Risk Systems for IFRS 17 and LDTI Compliance, 2020: Market Update and Vendor Landscape, a Chartis Research report that assesses leading vendors of IFRS 17 and LDTI solutions.

About Aptitude Software

Aptitude Software provides software solutions that enable finance professionals to run their global businesses, forecast decision outcomes and comply with complex regulations. Uniquely combining deep finance expertise and IP rich technology, Aptitude gives finance leaders the tools they need to transform their business and achieve their ambitions. Aptitude is proud to have served the office of finance for over 20 years, delivering financial control and insight to create a world of financial confidence for our global clients. Headquartered in London and with North American presence in Boston, Redwood and Toronto, Aptitude Software is an operating company of Aptitude Software Group plc. For more information, please visit the Aptitude website homepage.

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