Our client had selected a software provider for their IFRS 17 solution. MBE was able to reduce the total estimated spend from R40 m to R7 m.
Complying with the IFRS 17 insurance contracts accounting standard is hard work, especially for firms writing long-term contracts. Pamela Hellig discusses the potential for the premium allocation approach to relieve the pressure.
A large South African bancassurer approached MBE to perform an impact assessment of IFRS 17 for some of their life and short-term insurance products. The main aim was to compare the calculation requirements and results of IFRS 4 and IFRS 17, under both the General Model and Premium Allocation approaches.
Pamela Hellig considers how actuaries can learn from the principles of bioethics in carrying out their fiduciary duties.
The Kano Model was developed in the 80s by Professor Noriaki Kano. It is based on the concept of customer quality and provides a simple ranking scheme which distinguishes between essential and differentiating attributes.
On International Women’s Day, Pamela Hellig celebrates the first women actuaries, and charts the rise and demise of the Lady Actuaries Dining Society.
Pamela Hellig considers the main points product development actuaries may need to think about when designing and pricing products in an IFRS 17 world.