We provide complete services related to IFRS 17 based on particular needs (see further information here). For this purpose, we have developed many IFRS 17 tools that deal with particular IFRS 17 areas.
These tools include:
- Risk adjustment tools – various approaches of RA measurement including the comparison of these approaches. It covers specifics for life and non-life insurance and RA allocation to units of account.
- Onerous contract test - tool for appropriate aggregation of contracts based on profitability aspects as defined in Standard.
- ALM tool - tool for definition, understanding, and management of ALM under IFRS 17. It covers both GMA and VFA liabilities which interact with the asset portfolio. The main focus is on the asset structure covering liabilities, P&L / OCI accounting policy choice, and systematic allocation of financial risk changes to OCI.
- Discount curve estimator – tool for derivation of discount curves based on available market data which are adjusted to reflect characteristics of insurance liabilities. It includes interpolation as well as extrapolation to derive the complete discount curve.
- CSM projection tool – CSM projection and release depends on a definition of coverage units. This tool shows the impacts on CSM and P&L using different bases of coverage units, the effect of discounting, and the weighting of different insurance risks and investment services.
- Disclosure and accounting models – complete set of required outputs including all IFRS 17 disclosures. It contains accounting models for situations that may occur at initial recognition and on subsequent measurement (loss recognition, premium variance, DAC, financial risk changes, and many others). P&L, balance sheet, and disclosures may be linked to accounting entries as well as to model outputs. It covers also analysis of change, i.e. the movement of different IFRS 17 components such as CSM, RA, liability for remaining coverage, liability for incurred claims. It provides transparent numerical and graphical analysis and shows individual sources of changes. It can be easily combined with other IFRS 17 add-ins.
Apart from these IFRS17 add-ins we have developed also several more complex tools. Feel free too see more information about them on their pages:
- IFRS17 Cube solution - link
- IFRS17 GMA proxy calculator - link
- IFRS17 PAA calculator - link
- IFRS17 PAA RI held calculator - link
- IFRS17 Eligibility tools - link
- IFRS17 Transition calculators - link
- IFRS17 Illustrative models - link
For further information about IFRS 17, see also our useful links.
If you have any questions please use the contact form below.