IFRS 17 implementation Services

IFRS 17 Implementation Services | Shasat

 

IFRS 17 Implementation: Actuarial Modelling | Discounting | Risk Adjustment | Accounting Design | Disclosures

IFRS 17 represents a transformative shift in insurance accounting, aimed at enhancing transparency and consistency across the industry. It provides investors and stakeholders with deeper insights into an insurer’s risk exposure, profitability, and financial health. However, achieving full compliance with IFRS 17 remains a complex and demanding task for insurers globally. The standard requires a fundamental overhaul of accounting frameworks, actuarial methodologies, data management systems, and reporting practices — a challenge further compounded by evolving regulatory interpretations and extended implementation deadlines in several markets (2025–2027). Even insurers that have already adopted IFRS 17 continue to refine actuarial models and insurance contract liability valuations to meet emerging best practices and regulatory expectations.

 

Understanding IFRS 17’s Broader Impact

Understanding IFRS 17’s impact on Embedded Value, Economic Capital, and Enterprise-Wide Risk is critical. Market-consistent discounting, risk adjustments, and the Contractual Service Margin (CSM) reshape how insurers value liabilities and recognize profits.  These changes can lead to earnings volatility and shifts in capital requirements. Insurers must recalibrate risk models and deeply integrate IFRS 17 into ERM strategies. This ensures optimized capital management and robust risk oversight.

Shasat Consulting: Your Trusted Partner in IFRS 17 Implementation

At Shasat Consulting, we fully understand the complex challenges insurers encounter when transitioning to IFRS 17. Moreover, our experts bring together deep knowledge of accounting standards, actuarial science, and insurance operations to offer comprehensive support. As a result, we provide end-to-end solutions specifically tailored to meet your unique needs. Furthermore, our implementation approach goes beyond basic compliance, ensuring that IFRS 17 adoption aligns seamlessly with your broader financial transformation goals and strategic objectives.

Our Tailored Approach to IFRS 17 Implementation

Our methodology is comprehensive, forward-thinking, and adaptable to your organization’s unique demands. We focus on delivering practical solutions that ensure compliance while creating long-term value.

  • Strategic Advisory & Planning: We collaborate with your leadership to develop a clear roadmap for IFRS 17 implementation. We consider local regulatory timelines and global best practices.
  • Accounting & Actuarial Integration: Our experts bridge the gap between accounting and actuarial functions. We ensure seamless integration of discounting, risk adjustment, and insurance contract liability valuation models.
  • System Design & Automation: We design scalable solutions that automate processes, streamline data flows, and enhance reporting accuracy. This reduces operational risks and long-term costs.
  • Regulatory & Disclosure Support: We ensure your financial statements meet IFRS 17 disclosure requirements. Our approach delivers transparent and insightful reporting to stakeholders.
  • Continuous Improvement & Optimization: For insurers already under IFRS 17, we refine actuarial models and optimize reporting frameworks. We also help adapt to evolving market practices.

 

Leveraging Advanced Actuarial Modelling Tools

Our team uses industry-leading actuarial tools like Prophet, Moses, and VIPitech to develop precise solutions tailored to IFRS 17. These tools help build liability valuation models, perform stochastic simulations, and project risk-adjusted cash flows.  By using these platforms, Shasat ensures seamless integration between actuarial outputs and accounting frameworks. This supports comprehensive analyses for discounting, risk adjustment, and the CSM. Our approach enhances modelling efficiency and ensures consistent, reliable financial reporting under IFRS 17.

Delivering Lasting Value

At Shasat Consulting, we firmly believe that IFRS 17 is more than just a compliance requirement; instead, it presents a valuable opportunity to strengthen financial reporting, enhance operational efficiency, and improve market competitiveness. Moreover, our holistic approach ensures that your IFRS 17 transition aligns seamlessly with your strategic vision, positioning your business for sustained growth in the evolving insurance landscape.

Ultimately, let Shasat Consulting be your trusted partner for IFRS 17. Together, we can transform compliance into a strategic advantage, enhancing transparency, boosting stakeholder confidence, and driving long-term value creation.

 

Contact Us

For questions, support, or to learn more about our IFRS 17 implementations and Actuarial modelling services, please reach out to us.  Connect with us through our Contact Us page. We look forward to hearing from you and are eager to assist in any way we can.