The Systemorph IFRS17 Use Cases
The Systemorph Cloud (SMC) IFRS17 Solution implemented on SMC technology is the first and only professional open-source IFRS17 solution worldwide. Full transparency, control, and flexibility to be adjusted to your needs.
You will not only access specifications and actuarial documentation, but also the full source code. Moreover, you can extend and adapt the standard solution to fulfill your needs. And all it takes is to register in the SMC portal.
The SMC IFRS17 Solution is very modular and provides answers to all critical aspects of an IFRS17 implementation. You may use it end-to-end or simply pick and choose the functionality you need to achieve a professional IFRS17 business application. Thanks to the underlying the SMC technology, you will get a working business application by just writing the business logic in our Computational Notebooks.
Accounting
Reporting
Steering
Transforming
Key benefits
Flexibility
Empowering business experts to create and modify Data Models, Business Logic, and Data Importers/Exporters without the need of advanced IT skills. This allows for agile adaptation to any changing requirements.
Transparency
Achieve greater transparency by consolidating specification, documentation, and code within modern and user-friendly Computational Notebooks. This approach simplifies communication and enhances understanding.
Efficiency
Experience rapid time-to-production with our revolutionary business application development concept. From configuration and adaptation to deployment in production, our streamlined process ensures speedy implementation. It saves you time and resources.
Control
Our solution maintains rigorous controls and an auditable process. Every change is properly tracked and documented, supporting compliance and accountability.
Scalability
Harness the capabilities of Systemorph Cloud with our robust and high-performance cloud-native infrastructure. It provides the scalability required to meet non-functional requirements.
Value-for-money
Remain cost-effective by selecting your sourcing strategy based on your needs, cloud-usage and chosen service level: from developing yourself to a full-serviced model. You pay only for what you need.
Systemorph IFRS17 Product Features
We offer the simplest, fastest to implement, and most flexible IFRS17 software solution. Experience enterprise grade functionality without the usual implementation time, cost, or risk.
The SMC IFRS17 Solution is comprehensive, end-to-end and cloud native. It delivers all needed functionality out of the box and allows for easy customization. The implementation interface is based on SMC Notebooks and allows users to mix prose texts, formulae, and numeric examples in one place, ensuring business rules are transparent, and specifications can be understood by multiple departments from technical to business.
Standard IFRS17 Calculations
All standard IFRS17 calculations are pre-programmed using the SMC fluent domain-specific language (based on .NET). You can use the implementation as is or modify it as you like to suit your specific needs. In the future, other languages, like Python, will also be supported.
Projections
The Calculation Engine can not only compute the figures of the current period, but also the whole run-off of the in-force portfolio for any individual or grouped future periods. Furthermore, you can also estimate future new business and the solution can also calculate the projections for these portfolios.
Scenario Analysis
The Calculation Engine supports independent computations of a multitude of scenarios for sensitivity and as-if analysis. One can vary the parameters or cash flows to obtain the desired results, and even define custom business logic for pre-defined scenarios.
Accounting Events
Accounting Events can be defined as any other formula in the system. They can be fully customized to fulfill any requirements, such as granularity, mapping to the Chart of Accounts, type of ledger and many more.
Business Application
The Systemorph IFRS17 product becomes a professional business application for end users. This means that at the end of the system configuration, you will receive a working application with all the content defined and presented in a modern and user-friendly interface.
Computation Notebooks
The modern development user interface based on Computation Notebooks allows business users to define the documentation and specification together with the code, minimizing the risk of inconsistency and that the system gets out of sync.
Data Modeling
A consistent data model is at the core of the Systemorph IFRS17 Solution. To achieve this, we offer a rich toolset allowing business experts to define, check, test and enhance data models to fulfill all business requirements.
Data Access and Import/Export
One key element to achieve a successful system implementation is to bring data as soon as possible to the data model. The Systemorph IFRS17 product relies on the Systemorph Cloud data management modules, which makes data access to any source very intuitive. Furthermore, the underlying technology offers a wide range of options to define data importers or exporters, allowing businesses experts to define and configure them as required.
Business Process
Define and configure a fully auditable Business Process based on the data you submitted to the IFRS17 Solution. Have the flexibility to determine validations, number of sign-off, roles and dependencies you need and visualize the status any time in a clear and user-friendly dashboard interface.
Process Documentation
Comment and ask questions on the results directly on the application where the data is presented. The Systemorph IFRS17 solution allows editors and reviewers to communicate directly in the platform, generating a consistent context-aware process documentation that is always in sync and never gets lost.
How to start with Systemorph IFRS17
You do not start from scratch.
We provide a standard working IFRS17 template, which can be used immediately. You’re able to explore all the available features and see the examples we have prepared. Or just create your own copy and import your data to see how your numbers look.
With our IFRS17 out of the box template you have a great basis to start with. Adapt it easily to your specific data situation and your actuarial methodology.
All you need to do is to register in the SMC Portal. You can then try the whole functionality and experiment with the IFRS17 template for free for 30 days.
Our IFRS17 Team
Daniel Trzesniak
IFRS17 Lead
Filippo Salghetti-Drioli
IFRS17 Key Account
Davide Colleoni
Product Owner IFRS17 Calculation Engine
Slavomir Batka
Consulting Actuary
Wolfgang Mähr
Head of sales
Check out some IFRS17 specific VLOG entries
The SMC IFRS17 Solution is very modular and provides solutions to all critical aspects of an IFRS17 implementation. You may use it end-to-end or simply pick and choose the functionality you need to achieve a professional IFRS17 business application. See some of our examples:
Testimonials
Claudio Tröhler
Transactional Executive
P&C Structured Solutions
Swiss Re
Swiss Re’s IFRS17 PAA Calculator, an invaluable asset that we offer to our clients, is a tool to quantitatively perform a PAA eligibility test, including an evaluation of the impact of a reinsurance transaction on the client IFRS17 financials under several scenarios. Its accuracy and the speed at which it was delivered in a complex IFRS17 landscape have been truly impressive. Our partnership with Systemorph has been exceptionally seamless, and I look forward to its continued success.
Thomas Budny
Group Accounting
Deutsche
Familienversicherung AG
Simon Steinbach
CFO
YOUPLUS
Systemorph was selected as our trusted partner to develop the technical IFRS17 solution of YOUPLUS. Through this partnership we benefit from direct and effective collaboration with their team which has deep knowledge of the insurance business. Combined with Systemorph’s proprietary cutting-edge technology, we feel confident in being able to fulfil the IFRS17 requirements.