IFRS 17 requires highly granular data to group contracts into portfolios and profitability cohorts. Insurers must capture cash flows, discount rates, and risk adjustments at a much lower level than IFRS 4, demanding significant upgrades to actuarial systems and data pipelines.

The General Measurement Model (GMM) is the default for long-term contracts. The Premium Allocation Approach (PAA) is a simplified model typically used for short-term contracts (under one year). The Variable Fee Approach (VFA) is designed for contracts with direct participation features, where policyholders share in the returns of underlying items.

Yes, our team works directly with your external auditors to explain the methodologies, assumptions, and transition approaches used in our models, ensuring a smooth audit and final sign-off.

Under IFRS 17 reserving methodologies, both ULAE (Unallocated Loss Adjustment Expenses) and IBNR (Incurred But Not Reported) claims must be incorporated into the Liability for Incurred Claims (LIC). Our actuarial team ensures these reserves are accurately modeled and discounted using the appropriate IFRS 17 discount rate to guarantee full auditability.