IFRS 17 Essentials

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The CFOs guide to achieving IFRS 17 compliance

Ross E. Chapman spells out the changes that finance teams can expect with IFRS 17 and how they can best prepare for implementation. He also describes the lessons learned from Aptitude Software's development work with clients, and presents the results of a readiness survey of global insurers

The road to better data, systems, processes and control

IFRS 17 is less about reaching its destination – the calculation of closing balances – than the journey it takes to get there. Critical as they are, the standard’s calculations are just part of a much bigger picture, covering not only data, systems and processes but also how these elements are controlled. Understanding the key new challenges that insurers must navigate, the team behind FIS’ Prophet risk management solution maps out a route to compliance

Making the transition to IFRS 17

Insurers must soon make some crucial decisions in how they will make the transition from current insurance contract accounting rules to IFRS 17. Henny Verheugen, principal and consulting actuary at Milliman, discusses the possible implications of each of the three approaches to transition, and why insurers will need to choose their options carefully

Market Insight

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High velocity risk management

A rapidly changing world produces rapidly emerging risks that can flummox even the most comprehensive of risk management frameworks. Neil Cantle proposes an approach to improving how insurers respond to today's threats...

IFRS 17 and the challenges ahead

The new insurance contracts accounting standard brings a dramatic shift in accounting and actuarial practices, and insurers should be prepared for implementation challenges, as Kamran Foroughi explains

End user computing: the hidden threat

CIMCON Software has been providing clients with end user computing (EUC) risk management software for over 15 years. Chief executive Craig Hattabaugh explains the risks of EUCs to the insurance industry and how to tackle them.

Frontrunners

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Optimising model capabilities

Moody's Analytics explains how its software and services can help insurers with their solvency monitoring, reporting and stress-testing requirements in Solvency II

Arming insurers for Solvency II and beyond

The pressures that Solvency II puts on risk and capital modelling are manifest: more information is required within shrinking deadlines, it has to be communicated better and it must be produced with more rigorous governance. FIS explains how its Prophet solution is helping actuaries and risk professionals deliver

A holistic approach

A multi-disciplinary approach is the key to good data management, says MBE, whose unique and innovative business structure has helped clients prepare for the stringent requirements of the Solvency II regime and beyond

Time to move forwards

Milliman's Neil Cantle explains how insurers have responded to Solvency II and how they can leverage their new skills to prosper in a fast-moving world

Delivering pillar 3 reporting

To submit Solvency II data to supervisors, insurers must get to grips with XBRL and automated data handling. In this article, DataTracks explains its approach