IFRS-17

“GOODBYE, THE TRADITIONAL MARKETING! HELLO, NEUROMARKETING!” ― Hedda Martina Sola M. Econ

What is IFRS 17?

IFRS 17 standardizes insurance accounting globally to improve comparability and increase transparency, and to provide users of accounts with the information they need to meaningfully understand the insurer’s financial position, performance and risk exposure

Technical Video

What does it mean for you?

The IASB published a new standard, IFRS 17 ‘Insurance Contracts’ on Thursday 18 May 2017.

The key task for insurers right now is to make the appropriate implementation decisions. IFRS 17 presents opportunities to harness data more effectively, to improve the structure of your finance function and to better inform your decision making. Ultimately IFRS 17 is about what story you want to tell about your company.

SCOPE

An entity shall apply IFRS 17 Insurance Contracts to:

Scope changes from IFRS 4

What we aim?

Our goal as finance and IT professionals is to provide cost-effective, easy-to-implement solutions for transitioning their financial records to comply with the new standards.

Key Features of IFRS 17

Key Services

Our Workflow Diagram

Our Systems Architecture

Problems

Problem 1 :

Complexity of regulations

Solution

Our services are designed for compliance and are easy to use, so you no longer need to worry about your team studying dozens of pages of legal documents.

Problem 2 :

Time-consuming transferal process

Solution

Even for large companies with tight deadlines, our solutions are quick, efficient, and viable. Insurance portfolios can be made up-to-date shortly regardless of size.

Problem 3 :

Expensive transferal services

Solution

Our Risk Integrity Solutions offer all the services your organization will need at manageable costs.

Problem 4 :

Understanding new concepts

Solution

New ideas that may be unfamiliar to your team, such as the Contractual Service Margin, are handled swiftly and intuitively through our automatic calculation services, so users can prepare to use them in their routine responsibilities.

Problem 5 :

How these changes affect profits

Solution

Fully featured disclosure generation is included in our Risk Integrity Solutions to make it clear to your team and consumers how your contracts now affect your bottom line.

Contact us for a quote, help, or to join the team.

email

service@iSmileTechnologies.com

phone

(732) 347-6245

About Us

iSmile Technologies is a global technology services company.

service@iSmileTechnologies.com
(732) 347-6245

USA

+1 (732) 347-6245
241 Jonathan Way
Bolingbrook, IL 60490

INDIA

2-3-285, Secunderabad Hyderabad 500003

CANADA

3190 Stocksbridge Ave
Oakville, ON L6M 0A7