Learning Videos

IFRS 17 implementation learnings and best practices

IFRS 17 implementation learnings and best practices

As firms delve deeper into their IFRS 17 plans and implementation, there are many challenges that need to be overcome. Marrying actuarial and accounting data, increased granularity in disclosures, and more detailed reporting being some of the key ones.

Organisations not only need to develop greater collaboration between IT and business, but insurers also need to choose and test a holistic solution to meet all their IFRS 17 compliance needs under a single umbrella. In this webinar, Ian Turner, insurance and reinsurance sector expert shares his experiences on IFRS 17 implementation challenges and industry best practices.

You will also learn about tools and techniques that will help you identify and seek relevant data.

Topics covered in this video include

  • IFRS 17 Impact areas (Differences between IFRS 4 & 17)
  • IFRS 17 specific considerations and disclosures
  • Regulatory and other reporting requirements
  • Key considerations for implementing IFRS 17 and checklist to accelerate IFRS 17 implementation
  • The need for adopting a robust enterprise reconciliation tool
  • Importance of aligning data across existing regulatory submissions and IFRS17 and building robust last mile reporting tools
  • Using the transition as an opportunity to implement robust data platforms in cloud
  • Oracle Solutions – IFRS 17 Analyzer, ERP (FAH) and EPM Cloud
  • What IFRS17 challenges that are common across life insurers, speciality insurers, pension and general insurers?
  • Are there any key design decisions insurers need to make from the outset, and associated risks to those decisions?
  • Is there commonality in data reported across MI, regulatory and IFRS17

At the end of this video, you will

You will understand how Oracle Cloud ERP and EPM offers integrated and seamless transition solutions that can help your business achieve the twin goals of compliance and future-readiness.

You will understand how IFRS 17 opens up the natural benefits of data driven intelligence and forces organisations to identify onerous contracts sooner

We will detail how Fusion Practices’ proposed solution offers an end-to-end solution for the insurance sector that can be plugged into any CSM engine of your choice.