Your IFRS 17 reporting process, can be developed in an effective, lean and iterative way, minimising the risk of investing in systems and developments that are unnecessary. The goal is to keep it as simple as possible, and not add unnecessary complexity to your reporting processes.
With deep knowledge and experience of Solvency 2 reporting, and how to develop an end-to-end solution for this specific reporting process, we deliver the same advantages, principles and technology foundation for your IFRS 17 reporting process.
We recommend an approach where data, calculations and reports, are built in an integrated, controlled and audited environment, testing results iteratively, for an agile and connected IFRS 17 reporting.
Integration and Control
The integration process will focus on connecting current client solutions, such as a Stochastic Calculation Tool, DWH, General Ledger system etc., and implement an IFRS 17 Data Mart that will collect and distribute data between back-end systems calculation tools and reporting solutions.
The key is to set up the client specific parameters and calculation rules, in a controlled environment, so users and stakeholders of reporting can easily understand the actions and data that their results are based on.
An important question to cover, is how IFRS 17 should relate to your current reporting processes, what can be re-used and what do you need to develop in addition to what you already have in place, in terms of data, calculations and systems.
This Analysis Workshop, will provide you and your team with perspectives and recommendations on how technology can support your end-to-end reporting process, making sure your project also keeps a clear focus on long-term cost-effectiveness, and process optimizations.
In cooperation with your team, we will have a look at your current system set-up and reporting process, and will result in recommendations to how data can effectively be managed, and how the calculation process can be set up in a controllable and transparent environment.
Contact us, and we will contact you for scheduling and details on how the workshop can be set-up for your team.