Enterprise Risk Management Technology Guide 2023

Asseco - Asseco IFRS 17 Engine

Type of System

  • Analytics
  • Asset/liability management
  • Governance, risk, compliance (GRC)
  • IFRS 17 solution
  • Internal/external reporting

Type of platform

  • Cloud
  • SaaS
  • Server-based
  • Web-based

What are the typical implementation costs?

Asseco IFrs17 system implementation allows and supports different implementation models, the price differs within these.

Installation of the system is included in the contract, as well as a number of workshops to train company staff in using the software and to do test calculations. We support all three methodologies, PAA, BBA and Vfa, and the software serves both life and nonlife insurers.

IFRS17 implementation requires between € 30 000 - € 60 000, depending on the tasks that Asseco has to deliver, but including all what is required, installation, analysis, workshops, training, testing. On demand, small-scale IFRS17 related consultancy could be also part of the project.

How long does your software take to implement on site?

Basic installation – ready to use with excel templates – 2 days

IFRS17 system implementation time is usually 4-5 months.

The projected implementation time does not include custom made developments, this may lead to additional implementation timing.

Please name companies that use the system/solution

INVL Life, Premium Insurance, Magyar Posta Biztosito, Magyar Posta Eletbiztosito.

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With Asseco’s IFRS 17 solution insurers comply with IFRS 17 requirements accurately, efficiently, transparently.

Contacts

[email protected]

Guide entries by Asseco