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The new IFRS standard for insurance contracts promises to have a transformative effect on insurers' financial reporting.
IFRS 17 is expected to raise a number of practical challenges for insurance companies. It is an accounting standard, but implementation will require a multi-disciplinary program with involvement from accounting, risk management, and actuarial teams.
Milliman consultant Thomas Bulpitt talks about the choices insurers make when implementing IFRS 17 and how insurers should handle risk adjustment.
This video was produced by InsuranceERM
Milliman conducted a survey to measure the preparedness for IFRS 17 among insurers. The survey had 71 questions, and Milliman received responses from more than 115 companies around the world.
The business challenges of implementing IFRS 17are top of mind for many in the industry, including Milliman. With Integrate, we've built a powerful, comprehensive ecosystem that allows you to focus on your business, not your IT.
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Monitor and assess IFRS 17 readiness and compliance, and plan remaining tasks effectively.
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Milliman Mind is a flexible and easy-to-use web-based platform that offers you a cost-effective IFRS 17 calculation tool.
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