IFRS 17
IFRS 17 compliance,
Cash flows generation,
CSM calculations, Accounting & Disclosure requirements …
Find out how the addactis® solution can smooth your path to IFRS 17 compliance.
Your needs
Would you like to avoid complexity and implementation costs? Our solution busts a myth spread by many consultants: our modular concept allows our clients to fulfill the global IFRS 17 compliance with an end-to end solution or modules combined with any pre-existing software.
With cutting edge technical approach embedded in our solution by our IFRS 17 experts, monitor your profitability and your contracts with the highest level of accuracy.
Actuarial Calculations
You need to work on:
– Your data, which should be more granular;
– Your actuarial processes, which should be fast and completely integrated;
– Your storage.
You need to manage the data granularity of each group of contract while ensuring traceability.
You need to prepare your data for measurement models & storing.
You need the generation of your Cash Flow and Risk adjustment conditioned to measurement model and Initial different from Subsequent.
You need to handle measurement models such as BBA, PAA and VFA, in order to generate your IFRS 17 results.
addactis® IFRS 17 solution offers the possibility to handle the data flow in order to structure and automate all insurance processes in a single framework. It enables to integrate, segment and transform data coming from different platforms/systems in a fully transparent way.
addactis® IFRS 17 solution includes all actuarial calculations you need to comply with IFRS 17, in both Properties & Casualty and Life & Health line of business.
Accounting Disclosure
You have to estimate the unearned profit you will recognize as you provide services: the Contractual Service Margin (CSM).
You need to prepare financial disclosures (both general ledger and subledger).
You need the production of financial statements and disclosure under IFRS 17, which requires a lot of information. A business-driven automation helps to cope with those comprehensive requirements.
addactis® IFRS 17 solution allows the calculation of the CSM at a group of contracts level.
addactis® IFRS 17 solution includes many features to support users in creating, automating and analyzing their accounting reporting. Several disclosure templates and result summaries are already included in our systems. User-defined reports can be set up individually and updated automatically thanks to the Microsoft® Excel add-in, deployed during installation.
You deserve an IFRS 17 solution provider who understands your actuarial, IT, financial and accounting issues.
Get an overview of our out-of-the-box solution in video, and find out how addactis experts can support you and help you with your IFRS 17 project.
Our Solution
Our assembly concept between actuarial & financial softwares is designed to fit to any kind of player (International or local), line of business (Life & Health or P&C) and to any level of preparation in the IFRS17 compliance project. Combining cash flows or RA calculations & projections (addactis® IBNRS®), large claims & reinsurance modeling (addactis® Modeling), data management for the contract segmentation (addactis® DataFlow) in a single web interface (addactis® Platform), our solution is designed like an ecosystem, agile and plugable with any internal or external software already existing in your environment.
You can either pick a brick in the solution or implement the full chain. The implementation of our solution is probably the easiest and fastest in the world, due to a deep expertise of our dedicated teams, in every corner of the IFRS 17 project.
Your Challenge
An end-to-end Solution or an Actuarial Solution
addactis® IFRS 17 solution is available in two different formats.
You can benefit from our end-to-end solution covering both the actuarial and financial perimeter, from data preparation to information generation and visualisation.
You can also choose to use only the actuarial block of our solution. You will be able to use your own accounting software, to use our addactis® IFRS 17 solution, covering only the pure actuarial scope, i.e. from data preparation to the calculation of future cash flows, risk adjustment and contractual service margin.
addactis' Experts Consulting Team
Our addactis® IFRS 17 solution includes support during the implementation and deployment of the solution.
It also includes the training of your actuarial and accounting teams. You can request additional consulting assignments for specific questions and issues. Our teams are committed to work alongside you in a complex environment and by capitalising on our ongoing R&D investment.
Our Software Expertise
The addactis® IFRS 17 solution is based on five interconnected components:
Two software are used during the “Business As Usual” work to manage all your IFRS 17 and reserving process via a user-friendly web interface.
Two software are set during the implementation period to manage your data and set up the modelling platform.
addactis® Intuition, which is used to steer you business and your risks, by immersing your company in multiple scenarios, economical environments, benchmarks on various KPIs and their declination.
Your IFRS 17 solution!
Our IFRS 17 Experts
Present in 24 locations around the 5 continents, our experts ensure an effective and responsive support across Europe, Latin America, Asia-Oceania, Middle East & Africa.
Want to experience what makes our addactis® IFRS 17 solution so unique?
Schedule an appointment and speak with our experts!
Harry NIKOLAOU
Director
Head of IFRS 17
Judith RUIZ
Head of Technical Latina
Senior Manager
Jérôme SOUVANTHONG
Head of Actuarial Modeling
Manager
Our Software
addactis® Dataflow
The ETL for actuaries and business analysts that enables:
- data management
- automated & transparent data integration
- easy process implementation
- embedding addactis® software modules connections
addactis® IBNRS®
The best reserving software to ensure traceability and regulatory compliance in reserve calculation.
addactis® Modeling
Our Insurance modeling software to design all the models you dream about.
Ready to enter your IFRS 17 journey?
The demo is customized around you. Get answers to your questions, and find out why the addactis® IFRS 17 solution is the right choice for your business.
Please, submit your information below and we will be in touch shortly to set up a live demo.
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