Insurance | Regulatory and Compliance
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IFRS 17 Processing

Ensure IFRS 17 compliance

IFRS 17 is an International Financial Reporting Standard that was issued by the International Accounting Standards Board in May 2017. It will replace IFRS 4 on accounting for insurance contracts and has an effective date of 1 January 2021. In November 2018, the International Accounting Standards Board (IASB) has voted to delay the implementation of IFRS 17 for one year to Jan. 1, 2022.

The processes required to create and consolidate these IFRS-17 reports are very complex, specific to the organization, and are subject to change. With Appian, insurers will have the flexibility to coordinate, manage, and control these processes.

  • Planning, orchestration and speed capabilities, including assignment of tasks in the process, and the ability to create the business process according to custom specifications
  • Integration with the accounting engine system doing the required calculations, delivering a streamlined easier user interface to run and operate the report
  • Governing and control of the report and change history, enabling transparency and auditability

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