Insurers: Are You Ready for IFRS 17?

March 27, 2019

In a simpler time, this patchwork was passable. But change is coming. New regulations will bring greater complexity to the accounting process for insurers, which will make semi-manual, legacy processes look like a house of cards and raise doubts about the validity of the final numbers on the P&L sheet. That looming change, of course, is IFRS 17, the new International Financial Reporting Standard issued by the International Accounting Standards Board (IASB) in May 2017. It defines how accounting will be done by insurers in the more than 100 countries that adopted IFRS. IFRS 17 will replace IFRS 4 Phase II, which isn’t a comprehensive international standard but rather a structure for grandfathering in the use of countries’ national standards

Spotlight

Sure

Sure is the leading insurtech behind the world’s most recognized brands and carriers. Its enterprise SaaS infrastructure and embedded insurance programs drive the insurance industry forward to reach its full potential in an online era. Sure customers leverage its cohesive system of APIs to streamline the end-to-end insurance lifecycle resulting in better customer experiences supported by efficient digital operations. Founded in 2015, the company is headquartered in Santa Monica, California with offices around the globe.

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Spotlight

Sure

Sure is the leading insurtech behind the world’s most recognized brands and carriers. Its enterprise SaaS infrastructure and embedded insurance programs drive the insurance industry forward to reach its full potential in an online era. Sure customers leverage its cohesive system of APIs to streamline the end-to-end insurance lifecycle resulting in better customer experiences supported by efficient digital operations. Founded in 2015, the company is headquartered in Santa Monica, California with offices around the globe.

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