IFRS 17 Integration
Take advantage of S2 for your IFRS 17
By re-using specific areas from S2 and the SII Engine Solution, your IFRS 17 project, can be developed in an effective, lean and iterative way, minimising the risk of investing in systems and developments that are unnecessary. The goal is to keep it as simple as possible, and not add unnecessary complexity to your reporting processes.
With deep knowledge and experience of Solvency 2 reporting, and how to develop an end-to-end solution for this specific reporting process, we see a big advantage in re-using the same technology foundation and thinking for developments of your IFRS 17 process.
We recommend an approach where data, calculations and reports, are built in an integrated, controlled and audited environment, testing results iteratively, for an agile and lean IFRS 17 project.
IFRS 17: Integration & Control
The integration process, will focus on connecting current client solutions, such as a Stochastic Calculation Tool, DWH, General Ledger system etc., and implement a IFRS 17 Data Mart, that will collect and distribute data between back-end systems calculation tools and reporting solutions.
The key is to set up the client specific parameters and calculation rules, in a controlled environment, so users and stakeholders of reporting, can easily understand the actions and data that their results are based on.
Download IFRS 17 Guideline
The Guideline gives an introduction to the integration approach mentioned above, with the following headlines:
Utilise current IT portfolio of the insurance company
Possibilities with the framework of SII Engine
Building a controlled and automated IFRS process