IFRS 17 Compliance

Accelerate your adoption timeline and reduce risk

Industries/ Insurance /IFRS 17 Compliance

Streamline Implementation With the Right Solution and Experts

IFRS 17, an International Financial Reporting Standard issued by the International Accounting Standards Board in May 2017, represents the biggest change to insurance accounting in two decades. The costs and risks to attain compliance can be significant. Moreover, IFRS 17 compliance is complex, taking into consideration new actuarial and risk models, large volumes of data, complicated accounting rules, and new financial presentation requirements.

The clock is ticking to become fully compliant by January 2022. It is important to work with a trusted partner that can help you navigate this major transformation in finance reporting processes, systems and data. Our team of consulting, technology and insurance experts can help your transition be a smooth one. We have the expertise to guide you through — whether you’re in your impact analysis or ready to implement a solution.

We are an Oracle Global Platinum Partner with 20+ years of experience in the insurance industry

Key Benefits

Our comprehensive solution, built on Oracle’s integrated risk and finance architecture, helps our clients improve their decision making by providing real-time financial modeling and more accurate and insightful compliance reporting by ensuring data consistency, traceability and availability throughout their enterprise.

 

Offering Details

Our solution can help you meet your upcoming IFRS 17 compliance requirements whether you’re seeking to implement a subledger-type solution or an end-to-end, general ledger embedded platform with analytics. It is flexible, scalable and modular in nature, based on Oracle’s industry-leading Insurance data foundation so your organization will benefit from end-to-end auditability, data lineage, data quality and governance.

With pre-built IFRS 17 calculations, disclosure and financial reporting templates and pre-built integration to an accounting subledger, you will be capable of sourcing and sharing information with Oracle and non-Oracle systems. Not only will you benefit from a flexible accounting engine driven by user-configurable rules supporting multiple accounting representations, but you will experience a faster close and regulatory reporting process with

built-in analytics and collaborative processes. This solution turbo-charges your corporate performance management with integrated predictive planning capabilities, what-if modeling and pre-built dashboards, giving you the ability to compare different business strategies and their impact on the financial position of the firm. Whether you need a cloud, hosted, hybrid or on-premise solution, we can help. Learn more about our IFRS 17 solution today.

We have 25+ years experience helping insurance companies solve their most pressing business problems.

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