IFRS 17: Strategic Actuarial Perspectives | Frankfurt | GID 8007 | 8-9 April 2024

Thursday, August 17th, 2023

IFRS 17: Strategic Actuarial Perspectives (2-Day Workshop for Actuaries) 

Effective January 1, 2023, the IFRS 17 Insurance Contracts standard replaces the previous IFRS 4 from 2004, offering investors and stakeholders a clearer insight into insurers’ risk, profitability, and financial positions. The adoption of IFRS 17 has been challenging for insurers and investors, necessitating significant resource allocation to adapt accounting practices and meet the standard’s rigorous data requirements. Central to IFRS 17 are actuarial modelling, risk adjustment spread, discounting, CSM amortizations, reinsurance contracts held, and other pivotal actuarial challenges. This principle-based standard provides companies with various choices, emphasizing the importance of informed decision-making.

Considering the changes brought by IFRS 17, is your company’s current actuarial approach satisfactory, or is there scope for refinement? Our workshop aims to deepen your understanding of the actuarial intricacies under IFRS 17, helping you navigate its complexities with confidence.

It’s worth noting that our program stands distinctively in the global arena. To our knowledge, this is the first program worldwide that zeroes in exclusively on the actuarial challenges presented by the implementation of IFRS 17. While many courses touch upon the broader aspects of IFRS 17, our workshop delves deep into the actuarial intricacies, offering unparalleled insights and guidance. This specialized focus ensures that participants are equipped with the most relevant and comprehensive knowledge to tackle the unique actuarial hurdles of IFRS 17.

 

Key Learning Features

Led by an actuary, this program covers all the key aspects of IFRS 17 and will answer critical areas such as:

  • Deciphering IFRS 17 Statements
  • Grasp the Essentials of Actuarial Modelling and Its Primary Obstacles
  • Unraveling CSM Calculations
  • Analyzing Risk Adjustment Strategies
  • Navigating Cash Flow Challenges
  • Reshaping Claims Reserves and Liabilities
  • Driving Financial Insights
  • Extensive Contractual Implications
  • Navigating Implementation Challenges
  • Practical Learning
  • Enhancing Controls
  • Case Studies

 

Global Program Schedule and Hosting Opportunities

Our program has been scheduled in multiple cities worldwide. For a comprehensive schedule and to find a session in your area, please explore the following links. If you are interested in organizing this program in your city, we encourage you to contact us for collaboration opportunities and more information.

Online | London | Zurich | Toronto | Bermuda | Sydney | Singapore | Atlanta | Amsterdam | Seoul | Dubai | Doha | Cape Town | Lima (Peru) | Rio de Janeiro

 

For More Information

Please contact our customer service team for more information about this Training Course and to enroll. Our team is dedicated to providing you with excellent service and answering any questions you may have. We look forward to hearing from you and helping you take the next step in your professional development. Visit our Youtube channel

Instructor Bio

 

Our trainers have specialist knowledge and first-hand experience in implementing the International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS), Generally Accepted Accounting Principles (USGAAP), UK GAAP, Risk management strategies, Valuations, Mergers & Acquisitions, Corporate Governance, Environmental, social, and corporate governance (ESG) reporting, Supply Chain Management, Prudential regulations, Compliance matters (such as Basel regulations, Solvency II, Anti Money Laundering regulations and a number of other evolving regulatory matters) and a whole range of professional development programs (e.g., Negotiations Skills, Presentation Skills, Data Management, Python, Block-Chain, Digital Assets, Becker CPA etc.)

This ensures an engaging and stimulating learning experience for professionals and senior executives, helping to ensure knowledge is retained. They understand the accounting and regulatory requirements, risk environment, industry issues and challenges, risk management strategies, financial reporting & disclosure requirements, and compliance environment. They impart their knowledge using real-life industry examples, simple and user-friendly presentations of important concepts/approaches and case studies.

 

Instructor for this course

Shasat Faculty

 

Our Partners

Our Partners in Learning

Course Description

Module 1: IFRS 17 Statements

  • Core Messages, Objectives Realignment
  • Comparison with IFRS 4
  • Alternative Performance Metrics
  • Addressing Concerns and Onerous Businesses
  • Case Study A: Interpreting Financial Statements

 

Module 2: Discounted Cashflows

  • Non-Insurance Components Segregation
  • Future Cash Flows Determination
  • Time Value of Money Principles
  • Yield Curve Impact and Liquidity Considerations
  • Case Study B: Result Impact Exploration

 

Module 3: Options & Guarantees

  • Policyholder Options Analysis
  • Economic Scenario Generators
  • Solvency II Insights
  • Case Study C: Variable Cash Flow Examination

 

Module 4: Risk Adjustment

  • Qualitative Assessment and Scenarios
  • Diversification and Reinsurance Factors
  • Case Study D: Comparative Analysis

 

Module 5: CSM Amortization & Coverage Units

  • CSM Dynamics and Coverage Units
  • Transition Insights
  • Case Study E: CSM Roll-Forward Study

 

Module 6: Reinsurance Held

  • Mismatches and Assumption Impacts
  • Non-Performance Risk and Treaty Changes
  • Case Study F: Reinsurance CSM Analysis

The course agenda provided herein is the proprietary intellectual property of Shasat. It is intended solely for the use of participants enrolled in the respective course. Any reproduction, distribution, or unauthorized use of this course agenda, in whole or in part, without the explicit written consent of Shasat, is strictly prohibited and may result in legal action.

All rights reserved. ©2023, Shasat

Why you must attend?

Embark on a transformative journey of actuarial mastery with our immersive 2-day workshop, “IFRS 17 Insurance Contract: Actuarial Understanding.” Designed by industry veterans, this program is laser-focused on equipping you with the intricate actuarial insights essential for navigating the complexities of IFRS 17. From dissecting statements to untangling risk adjustments and delving into contractual implications, every facet of this workshop is meticulously crafted to empower you with the actuarial prowess needed to excel. Immerse yourself in real-world case studies and emerge not just informed, but armed with the expertise to reshape your actuarial journey. Secure your spot now to unlock the unparalleled actuarial dimensions of IFRS 17.

 

Teaching methodology

The IFRS 17 workshop has been designed to provide a comprehensive and engaging approach to learning for all professionals, including actuaries, finance professionals, and anyone in the insurance industry. The teaching methodology includes:

  • A user-friendly slide deck that presents the concepts, methodologies, and principles in a clear and concise manner, making the material easily accessible to all attendees.
  • Interactive sessions featuring real-life case studies to provide hands-on experience and bring the material to life.
  • Explanations of concepts and methodologies through the use of examples and distinct scenarios, allowing attendees to understand the material in context.
  • Group exercises designed to illustrate accounting principles, encouraging collaboration and fostering a deeper understanding of the material.
  • Discussions on GAAP differences, industry issues, and diversity in practices, providing attendees with a well-rounded understanding of the subject matter.
  • Access to additional course material and handouts, ensuring attendees have a comprehensive reference resource to support their learning.
  • An open and inclusive atmosphere that encourages attendees to ask questions and engage in discussion, ensuring a thorough understanding of the material.

Whether you are new to IFRS 17 or an experienced professional, the workshop offers a dynamic and engaging learning experience that will support your professional development.

 

Who should attend?

 The IFRS 17 Program has been designed for a wide range of professionals, including:

  • Actuaries and Underwriters
  • Finance professionals and those involved in IFRS 17 implementation
  • Internal and external auditors
  • Risk managers
  • Regulators and Solvency II professionals
  • Capital market watch experts
  • Market research analysts
  • Rating agency professionals

While the IFRS 17 Program has been designed with specific actuarial focus in mind, it is also open to anyone who is interested in gaining a deeper understanding of IFRS 17 and its impact on the insurance industry. The program offers a comprehensive overview of the standard and its requirements, providing participants with the knowledge and skills they need to navigate the complex world of insurance accounting. Whether you are a seasoned professional or just starting out in your career, the IFRS 17 Program offers valuable insights and practical guidance to help you succeed. With a focus on real-world examples and case studies, the program is accessible and engaging for participants at all levels. So, no matter your background or experience, if you are interested in learning more about IFRS 17, this program is for you.

 

Feedback

Upon completion of the course, all delegates will receive an evaluation questionnaire aimed at gathering valuable feedback. This feedback is crucial to Shasat’s ongoing commitment to improving the quality of its learning solutions. By analyzing the trends in the responses, we are able to continuously enhance and refine our offerings to meet the evolving needs of our clients.

Venue & other info

Our training programs take place at the most prestigious professional training facilities in the city. Our venues have been meticulously chosen and expertly crafted to deliver an unparalleled and sophisticated learning experience. To further elevate your training journey, we will offer an array of refreshments including gourmet tea/coffee, delectable snacks, and a sumptuous lunch to sustain you throughout the course. Your comfort and satisfaction are of the utmost importance to us.  One week before the program begins, you will receive comprehensive joining instructions that include the exact venue details.

Please note that accommodation arrangements are the responsibility of the attendee.

 

Workshop Delivery (Online Programs)

The workshop will be delivered via the WebEx platform. Upon registration, all participants will receive comprehensive joining instructions for the live workshop. This fully virtual event will encompass a live-streamed presentation, personalized networking opportunities, interactive Q&A sessions, engaging polls, and post-event consultation to address specific concerns and support your continued growth.

 

In-Person Workshop

Please be advised that for all in-person training programs, joining instructions will be sent via email to registered participants one week prior to the program’s commencement. These instructions will provide comprehensive information regarding the venue location, date, and time, as well as other important details such as parking arrangements, dress code, and any necessary equipment or materials. Kindly ensure that you carefully review the joining instructions and follow the guidelines provided to ensure a smooth and well-organized experience during the program.

 

Changes to the conference

Shasat reserves the right, at its sole discretion, to make modifications to the format, speakers, participants, content, venue location, program, or any other aspect of the conference, at any time and for any reason, without incurring any liability. This policy has been implemented due to recent events such as the Covid-19 pandemic and other jurisdictional restrictions. These modifications may include but are not limited to, changes necessitated by a Force Majeure Event.

 

Sponsorship

We are pleased to offer sponsorship opportunities for our training programs, providing companies with a unique platform to showcase their brand and services to a highly engaged and relevant audience. By becoming a sponsor, your organization will have the opportunity to build brand awareness, demonstrate thought leadership, and cultivate valuable relationships with industry professionals. Our programs offer a platform to reach a targeted audience and generate new business leads while showcasing your expertise. The benefits of sponsorship include increased brand exposure, opportunities to connect with key decision-makers, and a platform to promote your products and services. We invite you to take advantage of this prime opportunity and partner with us to enhance your visibility and impact within the industry.

 

Terms and Conditions

We kindly request that you carefully review all of the terms and conditions outlined on our website. This information is critical in ensuring a clear understanding of our policies and procedures. Please follow the link provided to access this information.

 

About shasat

Discover more about Shasat by exploring our “About Us” page, where you can gain insights into our company’s mission, values, and history, and learn how we can help you achieve your goals.

Payment

Enroll in our program with ease by choosing from our secure online payment options. You can make a payment through our website using PayPal or Stripe, or opt for a bank transfer, demand draft, or cheque payment. Our payment page will provide all necessary options during checkout. If you encounter any issues, our customer service team is here to assist you. Simply reach out to us with your selected course, and we’ll guide you through the payment process.

We kindly request that you take into consideration any associated bank fees when making your course fee payment. To ensure your participation in the program, payment must be received before the course date. Once we have received both payment and a completed registration form, we will confirm your enrollment in the program. Thank you for your understanding and cooperation.

 

Group discount

Our company is proud to offer a group discount of 15% for organizations or individuals who book a course for 5 or more participants. To take advantage of this offer and receive a personalized group discount code, please reach out to our customer service desk at [email protected]. Our team will be delighted to assist you with the booking process and answer any questions you may have. With this group discount, you can invest in the professional development of your team and drive success for your organization. Don’t hesitate to contact us today to learn more.

 

CPD hours

Upon successful completion of the training course, each participant will receive a certificate of completion that attests to the number of hours spent in training and serves as a valuable representation of their dedication to professional development. The certificate is not only a symbol of their achievement but also serves as proof of continuous professional development (CPD) and demonstrates their commitment to staying current in their field. We believe that CPD is a crucial aspect of career advancement and personal growth, and are proud to provide our participants with this important document.

 

Enquiries

For further assistance, we invite you to contact our dedicated customer service team. Our experienced and knowledgeable representatives are available to answer any questions you may have and provide the support you need to make informed decisions. We are committed to ensuring that you have a positive experience and are here to help in any way we can. Please don’t hesitate to reach out to us at your convenience.

 

In-House Training

Enhance your team’s skills and drive success for your business with our custom In-house training program. Our tailored approach aligns with your specific business needs, offering a cost and time-efficient solution for upskilling your employees. This not only improves their productivity but also positions your company as a competitive force in the market. Transform your investment in employee development into tangible results by choosing our In-house training option. To discuss and learn more about our services, please don’t hesitate to contact our training desk. We’re ready to help you create a bespoke program that’s just right for you.

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