In March 2020, The International Accounting Standards Board (IASB) announced its decision to defer the effective date for IFRS 17 to 1 January 2023.

Whether you’re breathing a sigh of relief at this extension because you are behind schedule, or are struggling with the last elements of IFRS 17 implementation, MBE Consulting can help.

We use our skills in actuarial and risk management, Lean process engineering and actuarial technologies to ensure your IFRS 17 implementation is efficient, effective and profitable.

get in touch

In March 2020, The International Accounting Standards Board (IASB) announced its decision to defer the effective date for IFRS 17 to 1 January 2023.

Whether you’re breathing a sigh of relief at this extension because you are behind schedule, or are struggling with the last elements of implementation, MBE Consulting can help.

We use our skills in actuarial and risk management, Lean process engineering and actuarial technologies to ensure your IFRS 17 implementation is efficient, effective and profitable.

get in touch

How we help

Impact Assessment

We identify gaps in your methodologies, processes and systems, and assess the associated costs.

Methodology Review and Integration

We apply actuarial expertise to help you understand the standards, evaluate the options available, and integrate new methodologies.

Operational Excellence

We reengineer processes and operations to reduce the impact of the new regulations and improve the coordination and cooperation between your Actuarial, Finance and Risk teams.

Actuarial Technology

We review your modelling framework and technology, advise on optimal systems to meet new modelling and data storage requirements, and recommend technologies to improve runtime, clarity and consistency.

IFRS Assess

IFRS Assess is MBE Consulting’s modelling and simulation tool that helps you understand the impact of IFRS 17 on your business.
This flexible spreadsheet-based tool can be configured for both the General Model and Variable Fee approaches and provides valuable insights to teams affected by the regulatory changes.

IFRS Assess will enable you to easily model and compare:

Key financial metrics under IFRS 4 and IFRS 17

Profit cashflows and present value of future profits

Fair value vs retrospective approach

Contractual service margin run-off methods

Risk adjustment calculations

Backed by training by MBE’s expert actuarial consultants, IFRS Assess is an easy-to-use, flexible tool that can be used for:

Decision-making
Scenario modelling and testing
Proof of concept
Reporting
Education and training

For a detailed description of IFRS Assess read this blog.

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Risk Analyser

International Financial Reporting Standard (IFRS) 17 introduces the concept of a risk adjustment for non-financial risk, defined as

“…the compensation an entity requires for bearing the uncertainty about the amount and timing of the cash flows that arises from non-financial risks as the entity fulfils insurance contracts.””

“An entity shall disclose the confidence level used to determine the risk adjustment for non-financial risk. If the entity uses a technique other than the confidence level technique for determining the risk adjustment for non-financial risk, it shall disclose the technique used and the confidence level corresponding to the results of that technique.”
IFRS 17, Paragraph 119

Risk Analyser from MBE enables clients to construct confidence intervals for the risk adjustment calculated under IFRS 17. It’s a flexible spreadsheet-based tool that uses statistical techniques to produce a total loss distribution function based on your inputs.

Risk Analyser can be customised to your organisation’s risk profile. It works as a standalone module or can be integrated with IFRS Assess.

Screenshot of MBE's Risk Analyser for IFRS 17 implementation

Risk Analyser can be used to derive a loss distribution and confidence levels for

IFRS 17 disclosures

Capital SCR calibrations

Risk-adjusted pricing

IFRS 17 Implementation