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In the rapidly evolving insurance industry, finance and accounting teams are essential drivers of operational improvement and regulatory compliance. The introduction of new reporting standards like IFRS 17 has prompted a shift toward data centralization and systems integration, moving away from fragmented processes. This transformation empowers these teams to not only enhance financial reporting accuracy and risk assessments but also improve decision-making and forecasting. Despite these advancements, challenges remain in optimizing processes, aligning with changing regulations, and fostering synergy across reporting frameworks.

In 2024, the addactis observatory conducted a nationwide survey of non-life insurers in the French market, in order to update its previous studies and highlight market trends in a rapidly changing environment.

The implementation of IFRS 17 highlights the role of data in financial reporting for insurance contracts. Ensuring data accuracy and integration from multiple sources is a significant challenge for actuaries and financial teams. These challenges must be addressed to achieve transparency in financial results. Addactis' article discusses the key data challenges under IFRS 17 and offers solutions for successful implementation and data quality.

In the ever-evolving world of insurance pricing, geographical risk factors play a crucial role. High-risk areas naturally demand higher premiums, but determining these zones accurately can be tricky. Geographical risk factors play a big role. But what happens when you don’t have enough data for a specific area? This is where credibility theory comes in, offering a data-driven approach to smooth out geographical discrepancies and ensure fair pricing.

In this paper, Addactis experts present a multi-standard interpretation by comparing IFRS 17 and Solvency II liabilities as well as IFRS 17 and IFRS 4 income statements.

Gleichermassen, wie Data-Science-Projekte in der Versicherungsbranche zunehmend an Bedeutung für entscheidende Geschäftsprozesse gewinnen, entstehen Herausforderungen bei der internen Überprüfung und dem Wissenstransfer zu den Personen mit Entscheidungsbefugnis. Die externe Validierung bietet hier eine effektive Lösung, indem sie Präzision und Verlässlichkeit der Projektergebnisse verbessert und eine fundierte Entscheidungsfindung unterstützt. Sie dient als Brücke zwischen den technischen Teams und dem Management und stellt sicher, dass die Projektergebnisse klar und verständlich kommuniziert werden. Unser Ansatz der externen Validierung schafft durch interdisziplinäre Expertise wertvolle Einsichten für das weitere Projektmanagement und eine solide Basis für interne Audits.

addactis^® IFRS 17 solution helps Thai Reinsurance achieving both accurate financial reporting and IFRS 17 compliance, as it supports them in their data integration and streamlined reporting. The testimonial from Thai Reinsurance confirms Addactis as a trusted partner for the implementation of IFRS 17.

Addactis' article delves into IFRS 17 post-implementation challenges, interprets financial results and addresses new KPIs.