InsuranceERM Annual Awards - a spotlight on the winners

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Don't let them take away your spreadsheets!

Craig Hattabaugh, CEO of Cimcon Software, speaks about how firms continue to struggle with adequately controlling the risks associated with spreadsheets and other end-user applications.

Stress testing: looking backwards to go forwards

Daniel Finn, a director at Conning, discusses how the firm's historical stress testing and scenario analysis is helping to change how the insurance industry understands risk

Solvency II reporting: a new narrative

Antoine Bourdais, Director of the Banking and Insurance Division at Invoke, discusses the evolution of regulatory reporting and how the focus is moving to the qualitative elements

Staying on top of scenario modelling

Colin Holmes, Managing Director, Insurance Solutions, discusses how Moody's Analytics is helping insurance firms address Solvency II requirements and improve stress and scenario analyses

Keeping risk management moving forward

Emma McWilliam, life and financial services leader and partner at Hymans Robertson LLP, talks about how risk management in insurers is evolving.

IFRS 17 Essentials

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Technology Perspectives from the IFRS 17 Journey

As the implementation deadline for IFRS 17 in 2022 draws ever nearer, the insurance industry is in the midst of preparing for the standard. However companies are at various stages of preparedness from having already started implementation to just preparing the gap analysis or selecting technology vendors.

The march to IFRS 17 compliance

While it feels like IFRS 17 has been a part of the insurance conversation for quite some time, it was just over 18 months ago that FWD Group ("FWD") became one of the world's first insurers to select a technology solution to address the new standard. Since then, the insurance industry, vendor community, and the standard itself have evolved quite a bit.

Sensitivity and Dynamics of IFRS 17 Illiquidity Premia

Under IFRS 17, insurers are required to discount the value of their liabilities using a discount curve that reflects the cash flows and liquidity of those liabilities. The standard does not prescribe the method by which this discount curve is calculated, but does offer general principles for constructing a curve by either a "bottom-up" or "top-down" method.

Make IFRS 17 work for your business

Over recent months, there has been growing pressure on the International Accounting Standards Board (IASB) to push back the introduction of the IFRS 17 accounting standard for insurance contracts. Now, with the board voting to delay the implementation date until 1 January 2022, how can you use the deferment to your advantage – and gain additional business value from compliance? With practical advice and firsthand insights, follow FIS' guide to getting more from IFRS 17 by transforming your operations.

IFRS 17 - Benefits of High-Performance and Scalable Technology

Implementing the IFRS 17 reporting standard means insurers will need to contend with multiple data sources, large data volumes and intensive calculations. Consequently, as IBM explains, insurance providers will require platforms built for performance, scalability and ease of data integration. Andrew Dansereau, PhD, FSA, CFA; Paolo Laureti, PhD; Stephen Wang, MEng, FRM explain

Market Insight

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Fostering diversity and an inclusive culture

Insurance companies must continue to build diverse workforces and create inclusive cultures. Patricia Renzi explains how real progress can be made by aggressively changing the culture and taking a multi-faceted approach

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