Software Alliance - IFRS Assess Enterprise
Type of System
- Capital modelling
- Data management
- End-to-end ERM
- Governance, risk, compliance (GRC)
- IFRS 17 solution
- Internal/external reporting
- Portfolio analysis/hedging
Type of platform
Other features - the offering facilitates:
- Least-squares Monte Carlo
- NAIC Principle-based reserving
- NAIC RMORSA
- Replicating portfolios
- Solvency II internal model
- Solvency II standard formula
What are the typical implementation costs?
A Mo.net Model Development Studio license is also required to use IFRS Assess Enterprise. The cost for IFRS Assess Enterprise is a one-off payment which includes basic support to install the solution and begin the process of integrating with client data sources.
How long does your software take to implement on site?
The scope for the consultancy is 1 week for basic implementation “up and running” support to install the Mo.net platform and the IFRS Assess Enterprise solution, as well as starting the process of integrating with client data sources / targets to get the data flowing into the solution.
Please name companies that use the system/solution
We have more than 60 successful client implementations around the world, highlighting the fact that Mo.net is entirely agnostic to regional / regulatory reporting environment.
Most recent significant update:
IFRS Assess Enterprise is our latest product release and is an accelerator tool that helps insurers understand the impact of IFRS 17. Developed in collaboration with MBE Consulting and powered by Mo.net, it provides unrivalled governance, audit capability and performance to support operational reporting and deliver on IFRS 17 requirements. IFRS Assess Enterprise can be configured for both the General Measurement Model (GMM) and Variable Fee (VFA) approaches and provides valuable insights to actuarial teams affected by the regulatory changes.
How does your solution integrate with third-party systems or in-house systems?
IFRS Assess Enterprise allows third party integration with a range of enterprise tools for reporting e.g. PowerBI, Qlik, Tableau or Excel.
What is the key attribute of your product(s) that differentiates it from your competitors?
IFRS Assess Enterprise provides valuable insights into assessing the various options and interpretations permitted within the IFRS 17 principles. The tool ensures that the implementation of any required changes is effective, efficient and avoids excessive implementation costs, reducing overall project risk. With improved speed, scalability & transparency of calculations, IFRS Assess Enterprise provides clarity and certainty to boards on the impacts of various decisions on the IFRS 17 Balance Sheet and Income Statement.
What trends are you seeing in terms of customer demand?
Operational Modelling – clients want an operational modelling solution which has the flexibility to allow data and assumption changes. Also key is the ability to produce results on updated model versions without making custom changes to the system, but maintain control and governance over model code and inputs. We can meet this demand with our Operational Modelling Centre.
Conversion and rationalisation of spreadsheet modelling – customers often have long-standing spreadsheet models that have far outlived their original purpose and would be much better suited as models within a well-controlled and governed modelling platform. Our Excel Model Adapter is designed to convert these spreadsheets quickly and easily into such models, therefore speeding up and simplifying the process.
IFRS17 – there is demand for a modelling platform that can be flexible enough either to be used to produce end-to-end IFRS17 reporting metric calculations, starting with the valuation at policy level or to enable companies to load in cashflow data and carry out calculations at cohort level. The Mo.net platform is flexible enough to enable it to be developed for either scenario.
Mo.net - The Service Oriented Financial Modelling Platform Powering the Next Generation of End-to-End Insurance Modelling