2024 ValAct Meeting - Session 1G: We, the People…: The Impact of Accounting Change on the 'People' Aspect on Insurers' Operating Models 8.26.24 Recording

Harnessing the transformative power of recent accounting changes, US GAAP LDTI in the US and IFRS17 globally, insurers around the globe are embracing changes in their operating models. These changes impact areas of processes, technology, data, and, arguably most importantly, people. As insurers continue to evolve and streamline their financial reporting processes under the new standards, many have identified needs for organizational transformation to align actuarial, finance and technology teams in a cohesive manner to support the new financial reporting requirements. Companies are seeking to modernize their operating models and offer the ability to consistently and effectively allocate roles and responsibilities across team members, take advantage of individuals' core competencies, and streamline handoffs across actuarial, finance and technology teams. This panel discussion will bring together industry leaders to discuss opportunities to modernize financial reporting operating models to better align with the new accounting standards requirements.