ARE YOU READY FOR IFRS 17?
The new accounting standard which establishes principles for the recognition, measurement, presentation and disclosure of insurance contracts, represents a challenge for insurance companies. We can help you with your implementation plans.
Operational and financial impact
We help you grasp the operational impact of IFRS 17 by analyzing your current situation in light of the requirements of the standard, and to assess the financial impact in the profit emergence pattern. We can recommend you methdologies and techniques to calculate the risk adjustment for non-financial risk.
IFRS 17 Actuarial Software Development & Enhancement
We can help you build your own actuarial engine for the calculation of fulfilment cash flows, including the contractual service margin (CSM) and the risk adjustment for non-financial risk.
IFRS 17 Training & Support
Let's us help you with your understanding of how the financial reporting standard works through our courses and seminars. We can organize on-line webinars that cover your specific needs.
We have developed several models in the R open source software that demonstrate the mechanics of IFRS 17 for different insurance products. These R tools demonstrate the general measurement model, the variable-fee approach and the premium-allocation approach – starting from the projection of cash flows to the construction of the related financial statements and disclosure notices.