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IFRS 17 Conference Takeaways

insurance contracts

The introduction of IFRS 17 is one of the largest regulatory shocks to the insurance industry in the past decade. At heart, the accounting standard attempts to combine traditional reporting with forward-looking actuarial calculations.

Hardware remains a hard value

Take a moment to look at your smartphone. It has played an irreversible role in globalization. Remember that this device was only invented twelve years ago. Just a few years after its introduction, it is already a commodity. An expensive one: it is apparently that essential. This speed of change is our new reality and it won’t slow down. This comprehensively frightens people – just google ‘Teller curve’.

IFRS 17 brings finance and risk closer together

The insurance sector is preparing for the implementation of IFRS 17. A great deal of attention is paid to modeling and the consequences for (finance and risk) policy. In addition to complying with the regulations, the implementation of IFRS 17 also offers an opportunity to bring the worlds of finance and risk closer together. Experiences from other areas of the financial sector could then prove useful. Yvonne Sijm, director at Zanders, explains.

An understatement: Exponential technology will impact corporate treasury

Today’s technologies offer opportunities that we have never seen before. Moreover, these possibilities are becoming greater continuously; today’s technologies do not develop linearly, but exponentially. Exponential technology will change your treasury and finance departments too. The question is how will you manage the challenges and embrace the opportunities? Together with the American Association of Financial Professionals (AFP), we researched the impact of exponential technology on corporate treasury. This article offers a summary of our findings.