IFRS 17
Nuanced, comprehensive—and challenging
The new IFRS standard for insurance contracts promises to have a transformative effect on insurers' financial reporting.
Integrated expertise required
IFRS 17 is expected to raise a number of practical challenges for insurance companies. It is an accounting standard, but implementation will require a multi-disciplinary program with involvement from accounting, risk management, and actuarial teams.
IFRS 17: A daunting new requirement for insurers
A new global accounting standard poses operational and strategic challenges.
The choices insurers face when implementing IFRS 17
Milliman consultant Thomas Bulpitt talks about the choices insurers make when implementing IFRS 17 and how insurers should handle risk adjustment.
This video was produced by InsuranceERM
Related Milliman products
Milliman IFRS 17 Readiness Assessment Tool
Monitor and assess IFRS 17 readiness and compliance, and plan remaining tasks effectively.
Integrate
Automate and accelerate actuarial modeling and reporting with a powerful, cloud-based solution.
Milliman Mind IFRS 17 module
Milliman Mind is a flexible and easy-to-use web-based platform that offers you a cost-effective IFRS 17 calculation tool.
Milliman Economic Scenario Generator
The Milliman Economic Scenario Generator is a cloud-native economic scenarios generator that provides advanced modelling capabilities for both risk-neutral and real-world applications. The Milliman Economic Scenario Generator delivers secured regulatory compliance as well as production efficiency through its reactive web interface and integration-ready API.
Related Milliman service
IFRS insurance contract consulting
Meet exacting standards while managing the operational and strategic implications with our modeling, actuarial, and consulting skills.
Implementation support
Get started with Milliman Mind and the IFRS 17 model in one business day, and get help tailoring it to your needs. Enjoy full support from your local Milliman office.