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 the main points product development actuaries may need to think about when designing and pricing products in an IFRS 17 world.
It’s been said that the greatest challenge posed by IFRS 17 is its data requirements. But is this really the case?
With IFRS 17 projects well advanced Christo Muller outlines six important considerations when moving on-premise actuarial processes and systems to an SaaS solution.
IFRS Assess is MBE Consulting’s cost-effective modelling and simulation tool that assists clients in understanding the impact of IFRS 17 on all areas of the business. Find out more here.