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