The IFRS 17 implementation deadline is near and companies have decisions to make. While many decisions pertain to specific IFRS 17 requirements, others are more strategic in nature. This session will explore key considerations and decisions faced by stakeholders as they finalize their implementation work and determine ongoing best practices in light of this new standard.
The presenters will provide a high level overview of IFRS 17, the requirements, approaches and deadlines, but the primary focus are the key adjustments, decisions and strategies companies begin to consider as they assess early projections and quantifications. In particular, the presenters will discuss how (re)insurers are pivoting and/or finalizing their decisions regarding assumptions, transition approach, measurement techniques, risk strategy, business strategy, governance and organizational changes, reporting and KPIs and more.
The diverse panel of experts includes representation by valuation actuaries, reinsurers, regulators, C-suite decision makers and consultants. During the session, attendees will better understand how others in the industry are solving these issues and be provided with best practices on adjustments they also can consider.
At the conclusion of the session, attendees will be able to:
• Identify decisions and interpretations required by the standard that have the greatest potential impact to financial results and business strategy
• Understand the operational and technical challenges with the greatest potential for business disruption due to IFRS 17 requirements
• Gauge where their company is versus peers in the implementation process
• Recognize changes in the role of the valuation actuary due to IFRS 17 and their interactions with accounting colleagues throughout the financial reporting process
• Evaluate potential solutions and approaches to implementation issues currently facing many (re)insurers
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