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The full impact of IFRS 17 will be felt for a long time, partly because KPIs and metrics will change. There are various approaches to mastering the associated challenges. In the video, Addactis' experts discuss the current status of implementation and give advice on how best to proceed.

While many insurance companies did not use inflation hypotheses in their reserving process until recently, the current inflation rates estimated by companies – of about 7 % – question habits. Some companies even add extra reserves to anticipate future «inflation-linked losses». The need to integrate it in the technical provisions becomes a factor in the solvency of companies, so now the question becomes the «how». 

Reserving is one of the actuarial core functions, along with pricing and capital modelling. Addactis focus on selecting the right reserving method, among four universally known and mainly used methods: Chain-Ladder, Bornhuetter-Ferguson, Average Cost and De Vylder.

AI bietet in vielen Bereichen des professionellen Lebens eine grosse Chance, den Arbeitsalltag zu vereinfachen. Im Idealfall werden Mitarbeitende entlastet, die Fähigkeiten in einem Team erweitert und Projekte schneller und besser bearbeitet. Dazu müssen die AI-Tools von allen genutzt werden.

Viele Personen sind von der rasanten Entwicklung überwältigt und es fällt ihnen schwer, ihre Arbeitsweise entsprechend anzupassen. Damit Unternehmen AI-Tools in ihre Arbeitsprozesse integrieren können, muss ein sorgfältiger Ansatz gewählt und die vielfältigen Empfindungen der Mitarbeitenden gebührlich adressiert werden.

Switching from an Excel spreadsheet to an integrated reserving solution such as addactis^® IBNRS^® is no longer something that should be considered, but something actuaries need to optimize time management, automate their reserving process, and enhance reliability, efficiency and data security.

While the Trilogue discussions on the Solvency II review have just begun, Addactis experts provide an analysis of Pillar 1 key issues and anticipate the changes ahead.

Addactis' new e-book highlights various perspectives on risk adjustments as part of the IFRS 17 framework.