Learnings & Advice on IFRS 17 Implementation

Welcome to the Monocle Insights Podcast, where Celest Meyer, Director for the UK and Europe, shares her experiences of implementing IFRS 17 in the UK. IFRS 17 has been heralded as a complete overhaul of the accounting and reporting of insurance contracts. While the technical accounting and actuarial methodologies are important, they often become the focal point of an implementation, leaving inadequate time and effort to focus on data and process operationalisation. In our discussion, Celest unpacks the key lessons learned that will help insurers to design and build a fit-for-purpose IFRS 17 solution that meets the technical requirements for compliance whilst creating a stable and long-term data and process architecture.