IFRS 17
The underlying objective of IFRS 17 is to provide greater transparency and enable more consistent reporting of profit across the insurance industry. Our view is that successful change projects will aid profitability reporting and improve management information. If you agree, get in touch.
What we offer
Gap analyses
Our team of experienced actuaries will conduct a gap analysis to understand what work needs to be done to ensure IFRS 17 compliance, identifying areas of your business which will be most affected by change.
Data
We provide guidance on how to group policies. We can also manage the development of approaches that automate the grouping process to streamline working day timeline delivery.
Systems and processes
We identify areas of development, support the implementation of changes, and identify areas where work can be automated or leveraged between different reporting bases.
Actuarial modelling
Our goal is to help insurers understand and validate key business decisions on actuarial methodology. This includes specifying the risk adjustment, CSM, loss component and loss-recovery component, setting discount rates, validating transition balance sheets, using data grouping techniques, and much more.
Disclosures and reporting
We conduct detailed analysis into the changes in key financial metrics under IFRS 17, supporting insurers on the curation and population of IFRS 17 disclosures. We can also help with incorporating IFRS 17 specific output into management information packs.
Process improvement
Our experienced actuaries are skilled in reviewing reporting processes to identify critical paths, optimise workflows and leverage work between SII, accounting, and internal management calculations. We also help reduce reporting timelines by automating data collection and valuation processes.
Why choose 4most?
70+ actuaries
With generations of regulatory expertise between them. We understand all the metrics for success within the insurance world.
Trusted 100%
Our track record speaks for itself. In our most recent Client Satisfaction Survey, every single one of our clients recommended us.
Tailored to you
We take the time to understand your unique challenges so that we can deliver bespoke solutions that truly make a difference.
True specialists
There’s experts, and then there’s specialists. We live and breathe risk analytics consulting every day, which means we stay in tune with the latest trends.
Key contacts
Philip Bowyer
Sachal Gandotra
“Having access to modelling experts from 4most’s extensive team of consultants has helped us challenge and improve our model suite, improving our overall approach to governance and validation.”
