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IFRS 17 mandates a radical departure from current accounting standards. It gives investors and stakeholders a realistic view of a carrier’s risk exposure, profitability, and financial status. As you prepare strategies to achieve compliance quickly and efficiently, choose an approach that accurately incorporates risk into the decision-making process. Oracle’s IFRS 17 solution empowers you with extensive data-centric business insights to drive profitability. Operationalize IFRS 17 with the end-to-end modern accounting and reporting IFRS 17 solution.
IASB defers IFRS 17 implementation to January 2023, giving insurers a fair timeline to address the immense challenges brought forth by the new requirements. Hear from a panel of industry practitioners on how they are using this time to reduce and accelerate their IFRS 17 plans, including revisiting policy decisions, embedding into business usual, understanding business impacts and more.
The IFRS 17 Analyzer integrates seamlessly with existing infrastructure, linking data, models, systems, and processes between actuarial and accounting functions.
Preconfigure business rules for General Measurement Model (GMM), Building Block Approach (BBA), Variable Fee Approach (VFA), Premium Allocation Approach, and more. (PDF)
Consolidate, validate, and reconcile input data from various source systems into a unified platform, gain transparency across the actuarial modeling, and financial reporting chain. (PDF)
Get visibility into journal entries, reconcile to source and any exceptions before posting to any general ledger, and map cash flows from the sub-ledger to balance sheet and P&L. (PDF)
Address financial reporting requirements for Solvency II, LDTI, and reconcile differences between balance sheets using next-generation business processes. (PDF)
Predefined quantitative and narrative information for fair value measurement, finance income and expense, increase in credit risk, and any judgements or changes to judgements. (PDF)
Optimize data, number of calculations, and periodic revaluation of contracts with automation, scalability, and rapid processing. (PDF)
Your essential guide on how to uncover hidden cost-savings benefits and ways to de-risk your IFRS 17 implementation program. Gain a clear strategy for a successful IFRS 17 rollout with a well-defined governance model that incorporates flexibility for future changes.
Many insurance companies have already conducted IFRS 17 impact assessments and have a clear understanding of their blueprint. However, the struggle lies in making the leap from theoretical analysis to implementation, while not fully grasping the true project timeline. Accelerate IFRS 17 and learn how you can easily adjust data, models, and reporting using out-of-the-box tools with Oracle's IFRS 17 Analyzer solution.
Read the business brief to understand the financial accounting requirements of IFRS 17, its implications across finance, actuarial, and IT teams, and how to address them for a successful implementation.