Optimize your IFRS 17 implementation and compliance journey
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
Struggling with the complexity and cost of IFRS 17 compliance?
Our IFRS 17 SaaS 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 Accounting dedicated module.
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.
It 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.
Our IFRS 17 business application 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.
Our Solution
Our flexible and integrated actuarial and financial solution adapts to any organization (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 Risk Adjustment calculations & projections, large claims & reinsurance modeling, data management for the contract segmentation in a single web interface, our cloud-based 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 module in the solution or implement the full suite. The implementation of our IFRS 17 business app 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
The 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 module 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 Professional Services 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 Actuarial Software Expertise
Our SaaS IFRS 17 solution, built on a powerful platform of business applications and core-platform capabilities, offers five interconnected components designed for seamless integration and ease of use.
Two components streamline your daily IFRS 17 and reserving tasks through an intuitive web interface.
Two others simplify data management and platform configuration during implementation.
Finally, our business intelligence tool then provides the insights you need to enables you to steer your business and manage risks by exploring multiple scenarios, economic environments, benchmarks, and key performance indicators.
Your IFRS 17 solution!
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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