Are you ready for the new IFRS 17 international accounting standard?

Let us help you get ready for IFRS17. During the initial free consult and demo we provide you with a pallet of options.

The IFRS 17 starting date of 01 January 2023 is getting closer. To be well prepared, you need to identify your options now! Besides our IFRS 17 SaaS and enterprise solutions, we can also help you from an actuarial perspective.

The software:

Our IFRS 17 solution has the following core capabilities:

Calculation of the CSM for the available models, being PAA, GM and VGA.

Discounting methodologies.

Capturing of onerous contracts and loss components.

Reconciliations including CSM showing the movement from opening balance to closing balance per Unit of Account (UoA).

Creation of disclosures

Creation of journal entries to feed back into the general ledger.

Governance and auditing

The services

We will help with the implementation and setup of the IFRS17 calculation models PAA, VFA and General Model (BBA) and the processes and workflows. Part of this implementation is training for the end users. During the initial phase, we can assist in actuarial questions, such as eligibility assessments.

Tailored requirements

Our systems can be configured to meet any specific requirements. Our experts can provide you with a configurable and/or customizable solution. Ask for the options.

Business as usual

Once implemented, our team will be available to support you with software, IFRS 17 and related actuarial questions. The software will be maintained and upgraded. If IFRS 17 standards change in the future, updates follow accordingly.

Additional on request:

Where insurance clients appreciate:

Support outside business hours

Actuarial support

General IFRS17 training

Kasper Spierings

Business Analyst, SecondFloor

Schedule a free demo!

In this meeting our IFRS 17 product expert and actuarial expert will align with you our your needs on both software and required services. They will guide you as well through the software and explain how this fits in your new IFRS 17 process.

With this meeting you will:

  • Learn how we can support you with implementing IFRS 17.
  • See out software working and understand our best practices.
  • Receive a high-level pricing indication, potential timeline of implementation and advise about the next steps
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Our clients

IFRS 17 Process

Ensuring you file your submission according to the regulator’s standard and in time is our main priority. Additionally, we’d like to improve your productivity while maintaining process control: Excel input templates available in the system. These include drop-down lists containing values per the effective taxonomy. Technical validations. The system validates your data (e.g. predefined values, data format). To quickly resolve any issues, the system instantly creates an overview with detailed information. Calculations are transparent. All inputs, calculation models and disclosures are available for download in Excel format. Our IFRS17 solutions are fully serviced and with our SaaS solution there’s no need for installing any additional software or applications. Furthermore, your data is stored in a secure data center in the EU. Or, alternatively, the software can also be hosted at your own location.

IFRS process

What Our Clients Say

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Jan Klaas

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Jan Klaas

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Jan Klaas

Compulsory from 1 January 2023

Be quick!

IFRS 17 is mandatory from 1 January 2023. Be quick, go– live with the intended IFRS 17 solution and required methods. Request a live demo for more information.