Transforming Insurance Accounting with IFRS 17 Compliance

The implementation of IFRS 17 presents a complex challenge for insurance companies, fundamentally altering how insurance contracts are accounted for. Finsuratech LLP specializes in guiding insurance entities through this transition, ensuring both compliance and operational efficiency.

Our IFRS 17 services entail:

• Preparation of IFRS 17 Financials: Our experts specialize in the meticulous preparation of IFRS 17 financial statements. We work closely with your team to ensure that your financials are not only compliant but also provide a clear and accurate representation of your insurance contracts.
• Gap Analysis and Impact Assessment: Identifying gaps is the first step, and we go beyond that. Our thorough impact assessment considers the nuances of your business, ensuring a tailored approach to compliance.
• Data Consolidation and Validation: Accurate financials begin with precise data. We assist in consolidating and validating your data, guaranteeing the integrity of your financial calculations.
• Actuarial Model Development: Our actuarial model development is not just about compliance; it’s about creating models that enhance decision-making and strategic planning within your organization.
• Parallel Run and Dry Run: We understand the importance of testing the waters before full implementation. Our services include meticulous Parallel Run and Dry Run processes, allowing you to identify and address any issues before the actual reporting period.
• Customized Training: Beyond compliance, we empower your team with tailored training and workshops, ensuring that your internal stakeholders are well-equipped to handle ongoing reporting requirements.

Our IFRS 17 services ensure a smooth transition, minimizing disruptions and guaranteeing that your financial statements are not only compliant but also provide meaningful insights for decision-makers.