Enterprise Risk Management Technology Guide 2023

Aptitude Software - Aptitude IFRS 17 Solution

Type of System

  • Analytics
  • Data management
  • Internal/external reporting
  • LDTI solution
  • IFRS 17 solution
  • Multi-GAAP Reporting

Type of platform

  • Cloud
  • Desktop-based
  • Server-based
  • Web-based
  • Grid
  • SaaS

How long does your software take to implement on site?

Typically, a full implementation of the Aptitude IFRS 17 Solution would take between 6 to 12 months depending on complexity, scope, and internal resource availability.

Factors that may impact implementation time include:

  • Number of different insurance product types
  • Number of legal entities & countries
  • Centralized or decentralized deployment methodology
  • Modelling approaches required – GMM/VFA/PAA
  • Multi-currency/GAAP requirements
  • Complexity of reinsurance requirements – e.g., inter-company reinsurance arrangements
  • Number of IFRS 17 actuarial models
  • Quality of existing data
  • Number of data sources

Please name companies that use the system/solution

Aptitude Software was the first to bring a comprehensive IFRS 17 solution to market and is now the most mature solution available. It is offered via multiple deployment methods, including SaaS.

Aptitude Software is now implementing its IFRS 17 Solution across 46 countries. Clients include FWD Group, Pan-American Life Insurance Group, Aviva, CAA Club Group, Transamerica, Convex (a Lloyd’s of London Insurer) and many more.

Recent work with one client has resulted in a number of new accelerators which will be specifically useful for the international specialty insurer and reinsurer market.

In 2020, Aptitude Software was recognized by Chartis Research as a Category Leader in the Insurance Risk Systems for IFRS 17 and LDTI Compliance, 2020: Market Update and Vendor Landscape.

Contacts

[email protected]

Guide entries by Aptitude Software