IFRS17: How to read the full set of financial reports – Part 3
Welcome to Systemorph’s IFRS17 education series #Techucation, a how-to guide for computing IFRS17 financials.
The new standard demands significant changes to the way financial information is presented. This episode aims to guide you on how to best read the full set of financial reports.
In the third of this three-part episode, we conclude with the contractual service margin and loss component reports, and lastly the disclosed financial performance both at the group level or for each unit of account.
To follow the steps presented in this video on your own, first clone the IFRS17 Project in Systemorph Cloud.
Working in the Systemorph sales team, Wolfgang Maehr has his ear close to the ground of what challenges insurance and financial services organizations need to overcome and what solutions they might need.
Systemorph Founder and CEO, Roland Bürgi, sat down with CIO Review Europe to share how Systemorph empowers businesses to streamline their data management processes, achieve higher data quality, and enhance overall efficiency.
Senior Software Engineer, Ekaterina Mishina, who goes by Katya, took part in a quickfire question round with us on what you can expect from SMAPP 2.0.
The new IFRS17 standard imposes the insurance industry to disclose different results for each approved scenario, which enables shareholders and analysts to compare sensitivities of different insurers.
In this episode of #Techucation, we investigate how to read this information in the Systemorph IFRS17 standard solution and will cover how granularity and degree of aggregation can easily be varied.
In this episode, we show how would the current closing look like if at the closing date the sensitivity would have occurred and inputs had been different by the specified amount.
In this episode we explain how the future margin is allocated among Contractual Service Margin and Loss Component as prescribed by the regulators under the new IFRS17 standard. We show simple examples to help you understand the basis of business performance analysis.
In this episode, discover how the Systemorph standard solution can aid you with IFRS17 disclosure processes from data collection to reporting.
In the second of this three-part episode, we present written, advance and overdue actuals and the actuarial experience adjustment – the difference between effective and expected cash flows.