IFRS17 Implementation Support

IFRS17 - The new global reporting standard for insurance contracts brings a great challenge to deliver complete transformation of financial reporting by January 2022.

The new standard will be one of the biggest insurance accounting challenges for decades.

The work ahead of us will cover more comprehensive insurance contracts modelling and reporting. The implementation of the changes will require combined expertise from the accounting and actuarial lines of work.

Learn more how ActWise can help your business transform in time and on budget in the next months.

ActWise is pleased to offer actuarial support services for implementation of IFRS17 accounting regime.

We aim to help our clients by providing support in creating greater transparency and enabling the business to bring forward more consistent reporting of profits. 

Our consultants can assist you in the following areas of work in the context of IFRS17:

• Model enhancement and development for the new IFRS17 reporting standard,
• Data analysis and process mapping,
• Methodology and new reprting process documentation,
• Reporting tools development,
• Process optimisation and testing.

Solvency II - Valuation and Reporting Support

The EU Solvency II directive prescribes capital requirements for insurers. Whether your company applies Standard Formula, Internal Model or Partial Internal Model, our Consultants are here to assist you in any challenges that you may be facing in your reporting and valuation processes. Our industry experience covers all three pillars of Solvency II work. 

Our services in this area cover the following:

• Solvency II model development i.e. stresses, product features, New Business etc. 
• Solvency II reporting tools development and testing, 
• Solvency II reporting process support during the busy periods. 

Actuarial Modelling Services

ActWise privides services to support your business in the following areas:

• Insurance liability model development for BAU, part VII transfers or M&A projects,
• Insurance liability models’ code optimisation and implementation,
• System migration and transformation projects,
• Model results review, 
• Model review and gap analysis, 
• Reconciliation work, 
• Testing and documentation. 

Our consultants can support your business with a range of actuarial modelling softwares such as Prophet, MG-ALFA etc.