IFRS 17 Compliance,
complex & segmented cash flows valuation, CSM, Disclosure needs … Discover the areas and needs covered by our addactis® IFRS 17 solution!
Afraid of complexity? Afraid of implementation costs? Our solution buries a myth spread by many consultants: our assembly concept allows to our clients to fulfill the global IFRS 17 compliance with an end-to end solution or bricks pluggable with any pre-existing software.
With cutting edge technical approach embedded in our solution by our numerous IFRS 17 experts, monitor your profitability and your contracts with the highest level of accuracy.
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 indicators.
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 & Casualties and Life & Health line of business.
You have to estimate the unearned profit you will recognize as you provide services: the Contractual Service Margin (CSM).
You need to fill your accounting 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.
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 implemantation 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.
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!
CEO ADDACTIS Asia-Pacific
Chief Innovation Officer
Deputy CEO ADDACTIS France
CEO ADDACTIS Iberica
Head of IFRS 17
Head of Modeling & Risk France
Head of Consulting LATAM
Head of Reserving
Head of Technical LATAM
Head of Actuarial Modeling
Head of Regulatory
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- automated & transparent data integration
- easy process implementation
- embedding addactis® software modules connections
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