IFRS 17, the insurance contracts accounting standard, will take effect on 1 January 2023. Between now and then, insurers face many challenges in interpreting the standard, and implementing appropriate financial data management and reporting processes.
Insurers will also need to understand how IFRS 17 affects their business steering, their internal and external reporting, and their communications to stakeholders.
Supervisors and regulators must also consider how the standard will affect their oversight of the insurance sector, and what guidance they can provide to firms.
This report takes a comprehensive look at the key implementation challenges. It features six in-depth interviews with non-life insurers across geographies and sectors, as well as opinions from regulators and consultants.
Produced by InsuranceERM and sponsored by Moody's Analytics, the report is free to download.