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Deloitte’s IFRS 17 Life Insurance application has been created to assess tentative decisions made by the international accounting standard board (IASB) in relation to its proposal for a new standard for insurance contracts related to IFRS17.
This App acts as the CSM sub-ledger solution, contains accounting rules and the posting engine, reporting and analytics as well as data management capabilities.
It provides the calculations for the Building Blocks, forecasted Financial Statements to help with regulatory requirements along with business planning and monthly journal output files which can be loaded directly into an existing General Ledger system.

 

Features

Financial Statement Output
  • The ability to break down the General Approach calculations with full financial statements. This provides the user a rapidly generated income statement and balance sheet that the user can assess based on the assumptions that they input.
Accounting Rules and Posting Engines
  • The ability to review and post periodic debits and credits for relevant accounts using a journal output file mapped to chart of accounts, with ability to capture multi-calendar and multi-currency requirements.
Insurance Analytics
  • The ability to analyse the business using out of the box analytics, which includes the Building Blocks at Inception and projected for the contract duration, forecasted Insurance Service Ratio and Combined Ratio. Data can be sliced at any level of the business from the Consolidated Company down to the Unit of Account level.
Current Month and Projected outputs
  • The ability to view the results of the General Approach by current month only, which can be used for disclosure purposes, or projected view, to help with business planning and forecasting.

Information

Size
1.33 GB
Language
English
Terms & Conditions

App stats

Modules
55
Roles
3
Formulas
450
Reports
30
Complexity
Advanced

Deloitte

Deloitte provides industry-leading audit, consulting, tax, and advisory services to many of the world’s most admired brands, including 70% of the Fortune 500. Our people work across more than 20 industry sectors with one purpose: to deliver measurable, lasting results. We help reinforce public trust in our capital markets, inspire clients to make their most challenging business decisions with confidence, and help lead the way toward a stronger economy and a healthy society. As a member firm of Deloitte Touche Tohmatsu Limited, a network of member firms, we are proud to be part of the largest global professional services network, serving our clients in the markets that are most important to them.

Website
http://www.deloitte.com.au
Address

Deloitte

225 George St

Sydney, New South Wales 2000

Australia

 

Email
jmakins@deloitte.com.au