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Operationalize IFRS 17 with the end-to-end modern accounting and reporting solution.
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 empowers you with extensive data-centric business insights to drive profitability. Operationalize IFRS 17 with the end-to-end modern accounting and reporting solution.
Get insight into addressing some of the most challenging accounting standard changes for insurance financial organizations in decades. With the adoption of LDTI and IFRS 17 just around the corner, forward-thinking organizations are seeking fast implementation. Modernization and alignment with digital transformation are critical for a smooth integration of risk and finance, as well as for what’s ahead.
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)
Chartis Research has recognized Oracle as a leading solution for the IFRS 17 accounting standard. Its end-to-end capabilities, flexible offering, and ability to meet the diverse demand along the compliance value chain makes it the best solution for risk-accounting integration.