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Gap Analysis

South African Life Insurer

We assisted a South African life insurer through a gap analysis and impact assessment. This included assessing the key technical requirements of IFRS 17 in order to determine key policy options and judgements available under IFRS 17. We performed a financial impact assessment to illustrate the effect of IFRS 17 on the accounting for selected products compared with current IFRS 4 accounting and we conducted a data and systems impact assessment to investigate the implications of the new requirements on finance and actuarial data and systems.

Key areas we assisted in:

  • Identifying gaps in their readiness in various areas

  • Developing an implementation roadmap

  • Initial impact assessment on certain products

  • Training

Example results of IFRS 17 vs IFRS 4 image
Example results of IFRS 17 vs IFRS 4

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