IFRS 17

The statutory requirements of IFRS 17 are forcing a massive disruption and ultimately a transformation within the insurance industry. No IFRS compliant insurer will be able to escape the profound changes in their operating model, accounting policies, and subsequent accounting system outputs and flows.

  • Disruption and transformation at your doorstep

    Disruption and transformation at your doorstep

    Article #1 - While the timing of the implementation of the standard has been well known, time is now of the essence.

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  • The standard vs. implementation realities

    The standard vs. implementation realities

    Article #2 - Reading of the standard is, for the experienced reader, a relatively straightforward exercise. However, interpreting the requirements of the standard into actual operationalized

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  • Technology Solution Point-to-Point vs. Data Hub

    Technology Solution Point-to-Point vs. Data Hub

    Article #3 - Compliance can’t be achieved without substantial alignment of supporting IT systems to match new accounting policies, data accessibility and data analytics/reporting

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  • IFRS 17: Don’t underestimate the complexity

    IFRS 17: Don’t underestimate the complexity

    Article #4 - Many of our clients originally underestimated the work needed to comply with the standard. For most short-term business, the premium allocation approach (PAA) can be used and it generally

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  • Technology Solution – The Right Strategy for Data

    Technology Solution – The Right Strategy for Data

    Article #5 - By now, most insurers have established an IFRS 17 implementation plan and are working on the design of their solution.

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  • Actuarial Work and IFRS 17: The Role Actuaries Will Play

    Actuarial Work and IFRS 17: The Role Actuaries Will Play

    Article #6 - Model changes sometimes sound simpler than they really are. One constant in our IFRS 17 projects is that change ends up being more complex and require more resources than anticipated.

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  • Ready for IFRS 17? Let BDO help get you on track with an IFRS 17 assessment

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  • The Standard vs. Implementation Realities

    The Standard vs. Implementation Realities

    Article #7 - When many insurers think of implementing IFRS 17, they may not recognize there other standards that may also need to be applied—including IFRS 9 for in-scope assets, and potentially IFRS

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    Learn More About Our Service Partners

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  • Accelerate Adoption of IFRS 17

    Accelerate Adoption of IFRS 17

    Given the investments required for IFRS 17 and the impact to the business, many insurers have their sights set on targeted outcomes well beyond standard compliance.

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  • Pragmatic IFRS 17 Solutions in Action

    Pragmatic IFRS 17 Solutions in Action

    With the significant level of change impacting systems, processes, and people resulting from IFRS 17, Caribbean insurers are looking for implementation strategies that will achieve compliance

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  • Implementing IFRS 17: It's Time for a Straight Line to the Finish

    Implementing IFRS 17: It's Time for a Straight Line to the Finish

    It’s essential for businesses to have a comprehensive cross-functional strategy and collaborate with the finance, actuarial, and IT departments for implementing these new tools.

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  • Critical Milestones for Foreign Branches in 2021

    Critical Milestones for Foreign Branches in 2021

    IFRS 17 is expected to have a significant impact on the way insurance and reinsurance contracts are recognized, measured, and presented.

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  • IFRS Update – The impact of COVID-19 | BDO Canada59:22

    IFRS Update – The impact of COVID-19 | BDO Canada

    This training session covers the accounting and assurance issues related to COVID-19 for those reporting under IFRS. The focus of this session is on the implications of March 31, 2020 period-ends. The

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