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IFRS 17 Solutions

We help insurers turn IFRS 17 complexity into clarity by combining deep expertise and modular technology to deliver faster, compliant and transparent reporting.

Insurance system and process evolution has often taken place in a piecemeal fashion, in isolation from other business considerations. IFRS 17 provides a catalyst to take a step back and review the people, processes and technologies that will be needed not only to deliver a successful IFRS 17 implementation, but to position the business for the future.

How we can help

WTW is uniquely placed to help both life and property & casualty (P&C) insurers interpret and implement the new accounting standard. We combine specialist knowledge with unique technology tools and unrivalled depth of capabilities to deliver a range of IFRS services.

Our IFRS 17 consultancy support

We are totally immersed in the key technical financial issues of IFRS 17, such as the complexities of the contractual service margin, to help you identify gaps in your ability to respond, be they related to data, systems, processes or people. As insurance specialists, we’ll also help you understand the wider business impacts and implications — and help you to manage these to continue to present your business in the best light possible.

What sets us apart from most other IFRS 17 consultants is our commitment to see things through. Our real strength lies in practical, hands-on implementation, working side-by-side with you to turn strategy into action to deliver the results you need.

Our state-of-the-art technology solutions, developed specifically for the insurance sector, play a big part in that.

Our technology solutions

We’ve created a suite of IFRS 17 technology solutions based on our proven software products to meet the market’s diverse needs.

They share a modular approach, so you can take what you need and tailor a solution to your situation and integrate it with existing models and processes.

  1. 01

    IFRS 17 enterprise solution

    The enterprise solution uses high levels of automation, in a governed and auditable WTW Unify workflow environment, to receive source information and deliver the key IFRS 17 numbers. A modular, building-block approach gives the flexibility to integrate with the systems you already have, including downstream accounting systems.

Download

TitleFile TypeFile Size
IFRS 17: An enterprise solution that delivers more than just the numbersPDF2.6 MB

  1. 02

    ResQ Financial Reporter

    ResQ Financial Reporter is a calculation and data management tool that enables P&C insurers to carry out the measurement and reporting of insurance contracts under IFRS 17 by applying either the general measurement model (building-block approach) or the simplified model (premium allocation approach).

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TitleFile TypeFile Size
ResQ Financial ReporterPDF4.3 MB

  1. 03

    RiskAgility FM IFRS 17 Calculation Engine

    The RiskAgility FM IFRS 17 Calculation Engine, which also forms part of the enterprise solution, is a calculation solution that enables the seamless estimation of the insurance contract liabilities under IFRS 17. It applies either the building-block approach, the variable fee approach or the premium allocation approach on standardized actuarial and actual input cashflows, and IFRS 17 assumptions.

Download

TitleFile TypeFile Size
RiskAgility FM IFRS 17 Calculation EnginePDF2.7 MB
RiskAgility FM IFRS 17 Calculation Engine

RiskAgility FM IFRS 17 Calculation Engine supports the analysis, review, reporting, validation and sensitivity testing required to deliver and sign off the IFRS 17 financial statements for life insurers.

  1. 04

    Financial Results Analyzer

    Financial Results Analyzer is an automated enterprise reporting solution that supports and connects your actuarial and accounting teams. It provides fast and intuitive insights for users reporting under the IFRS 9 & 17 accounting standards — in a transparent, controlled and efficient way.

Download

TitleFile TypeFile Size
Financial results analyzerPDF.3 MB
Financial Results Analyzer

Financial Results Analyzer is an automated enterprise reporting solution that supports and connects your actuarial and accounting teams.

Related capabilities

Insurance Consulting and Technology
Insurance
Risk and Capital Management for Insurers

Related products

SoftwareUnify
UnifyUnify is an enterprise-wide platform for systems integration, automation, and governance, purpose-built to streamline operations and drive success in the insurance industry.Product Information
SoftwareResQ Financial Reporter
ResQ Financial ReporterResQ Financial Reporter takes the complexity out of IFRS 17 for P&C and composite insurers, saving you time and effort in your end-to-end IFRS 17 reporting processes. And by freeing up valuable time and resources, it allows you to focus on the core activities that matter most to your business.Product Information
SoftwareRiskAgility® Financial Modeller (FM)
RiskAgility® Financial Modeller (FM)RiskAgility FM is a fast, flexible, actuarial software solution that enables life and health insurers and pension companies to run financial models that accurately reflect their products and company, and to run them in ways that are easily adapted to their business processes and regulatory reporting needs.Product Information
SoftwareDataValidator
DataValidatorFlexible and user-friendly, DataValidator is a software solution that validates, cleanses and transforms data efficiently, preparing it for use in financial modeling and reporting processes. At each stage it generates detailed audit reports maintaining governance controls that support regulatory requirements.Product Information
SoftwareResQ
ResQResQ, our award-winning reserving software, uniquely combines powerful modelling and advanced reserving methods with flexible data management to create a complete reserving solution.Product Information

Related services

Finance and Process Transformation

In an industry facing multiple disruptive forces — including technological, regulatory and competitive pressures — rethinking business and financial systems, and how they interconnect, can help insurers reduce costs, report more quickly and derive more business value from their data.

Risk and Capital Management for Insurers

By helping insurers address their changing risk exposures and apply capital more effectively, WTW offers broad-based solutions to insurers seeking to update business and product strategy, to adapt risk strategy management and appetite and to adopt innovative risk retention or transfer approaches.

Technology for Insurers

We help transform insurance companies by combining leading-edge technology solutions and deep insurance industry experience to help with their unique challenges and opportunities.

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