International Financial Reporting Standard (IFRS) 17 solutions

Best-practices and framework for reporting under IFRS 17

Get ready for IFRS 17

Our IFRS 17 solutions support insurers in the implementation of the IFRS 17 requirements. The Enterprise-software, data definitions, models, reports and process controls help to gain time in the implementation. Insurers benefit from our best-practices and innovative solutions which compliment existing IT infrastructure. With the flexible modular framework developed by SecondFloor insurers establish end-to-end reporting processes and inter-operability between systems.

Information about IFRS 17


Benefit from our best practices

Reference architecture

During the IFRS 17 impact analysis you have learned the gap's in your processes and systems. From our best-practices we will advice you a solution that meets your business objectives and resolves these gap's by implementing a framework on top of your exising IT infrastructure.

Process automation

Controlled and repeatable reporting processes are essential for timely disclosure of well-governed reports under the IFRS 17 regime. We developed best-practices for process automation that combine effective controls with the required flexibility.

Disclosure

With IFRS 17 new reporting requirements are introduced for public disclosure (specifically IFRS 17 93-132). Our solutions support you in managing accounting data, actuarial/risk data, and the narratives to produce any report in your house-style.

Data lineage

As you know data lineage is a pre-condition for the approval of reports. With a holistic approach we bring together data, calculations, reports, governance and a detailed audit trail that covers your complete reporting process.

IFRS 17 Process

Co-create phase

From 1st of September 2019 : IFRS 17 collaboration platform & knowledge sharing for early adopters. Participate in the solution development to influence and learn. Including IFRS 17 Saas Sub-ledger trial license.

Acceptance phase

From 1st of January 2020 : Continued IFRS 17 collaboration platform & knowledge. Start acceptance testing of IFRS 17 Sub-ledger solution in parallel runs.

Production phase

From 1st of January 2021 : Go– live with purposed IFRS 17 solution and required methods

IFRS 17 Package

Are you looking for a cost-effective approach for IFRS 17? We offer Enterprise and SaaS Sub-ledger solutions. The IFRS 17 solutions are implemented on SecondFloor’s industry-leading eFrame® software, a powerful data management platform to automate reporting processes