If you are still looking or deciding for a suitable solution for your insurance company you should join our 90-minute webinar on Wednesday 26.2.2020 at 13:30 CET, where we will present CCH Tagetik solution which is compliant with IFRS 17 and can be implemented faster than other solutions on the market because it is pre-configured with most common insurance products and provides all the functionalities needed.
What will be presented during the webinar?
1. Key functionalities of CCH Tagetik IFRS 17 Solution via use cases that cover a wide spectrum of insurance products and variants relevant under IFRS 17 in particular but not limited to:
- all principal measurement methods: BBA, PAA, VFA
- insurance/reinsurance
- profitable/onerous groups
- gradual filling up of cohorts with new business
- preconfigured methods of the release of CSM
- preconfigured methods of reversals of losses
- preconfigured methods of amortization of acquisition costs
2. In presenting the use cases we will walk through all main process steps of CCH Tagetik IFRS 17 Solution:
- The workflow
- Predefined input data model: actual and expected cash-flows, interest rate curves, additional parameters…
- Configuration of measurement methods, rules, and choices
- Pre-defined chart of accounts and postings to GL with possibilities of user-specific configurations.
- Predefined IFRS 17 disclosures and other general IFRS disclosures for insurance companies.
- Deep dive analytics with a BI tool including pre-configured reports
Six reasons why you should join our webinar and get more information about our solution for IFRS 17.
1. You will get insight into how CCH Tagetik IFRS 17 simplifies and ensures compliance
2. You will learn how the methods and the calculations are steered.
3. We will demonstrate our solution via use cases
4. You will be able to follow the entire end-to-end process of derivation of IFRS17 compliant results
5. You will see how various scenarios can be created and analyzed to enable you informed decisions and adoption of proper measures.
6. Questions will be addressed by competent experts with broad experience with insurance business and in particular IFRS 17.
Borut Eržen is a Doctor of Science in Physics and Fellow of The Insitute and Faculty of Actuaries, UK (FIA). At CRMT he works as a solution expert for actuarial process and IFRS 17 compliant reporting. He has a broad and deep theoretical knowledge and working experience in actuarial fields (life and P&C) and other related fields.
Daniel Potočnik is a partner at CRMT and the head of the Regulatory Reporting team. He has extensive experience from service and information technology industry. He is skilled in Business Process improvement, Change Management and Corporate Strategy.
Dr. Radoslaw Bogucki, Associate Partner, European Actuarial Services, Ernst & Young Business Advisory, Poland
“Insurance companies are actively working on the solutions for IFRS 17. For one of our major clients, with complex insurance products, we have confirmed two calculations for IFRS 17 that were made using CCH Tagetik. Calculations were made for the following methods as a pilot calculation: BBA term (Life) and PAA (Non-Life). We are currently in the process of verifying pilot calculations for VFA unit-linked (Life) and reinsurance.”
Asia Capital Reinsurance, Singapore
Tek Jun Tan, Vise president, Finance: “We chose CCH Tagetik for IFRS 17 for a couple of reasons: firstly, as everyone knows, the standard is still evolving so we wanted a solutions that was configurable, relatively easy to use and flexible, which is something that CCH Tagetik is, also we wanted a product-focused company, with knowledge of insurance industry, which CCH Tagetik has because of the experience with Solvency II, and finally we were also impressed by the level of commitment demonstrated by the team during both: presales as well as the proof-of-concept stages. An additive advantage also came with B&P as well as the Analytic Workspace which we are using to generate a set of inputs into the IFRS17 engine. IFRS17 options even during the POC stage I think it was clear that the results were a lot easier to asses and analyze.”