Enterprise Systems Architecture

I f you work in the insurance industry you are probably aware or have been informed about the forthcoming International Financial Reporting Standard (IFRS) 17, which replaces IFRS 4 and extended to come into force on  1 st  January 2023 . IFRS 17 will allow investors, the public and analyst to assess an insurance business using a common comparable reporting standard that aims to normalize  recognition, measurement, presentation  and  disclosure  of information for insurance contracts by offering a transparent consistent framework across the industry.  Whilst the ‘go live date’ is now set at Jan 2023, most organisations will need to conduct some form of data gathering, analysis and ‘integrity checking’ to produce a full set of accounts and ensure service margin calculations are correctly administered. Which realistically will most organisations to be ready by 2022 enabling the support and necessary comparisons required to address any adverse impact on their accounts. I n this short blog