In oceangoing vessels, a lifeboat is a small version of a ship that has the same capabilities as a ship but on a limited scale. Similarly in our industry, an IFRS 17 Lifeboat enables you to implement and operate your model against real data on a smaller scale, to validate your strategy and your IFRS 17 project plan
IFRS 17 is bringing about a massive transformation in financial data management for many in the insurance industry. The new global standard for insurance financial reporting, IFRS 17 is causing companies to change the very foundations of data management, including how data is collected, aggregated, analyzed and reported.
While IFRS 17 places new reporting requirements on insurers, in reality compliance with the new standard will impact insurer data management at many different levels. That’s one of the insights shared in a new article published by our partner Synpulse written by Systemorph’s Dr. Daniel Trzesniak and Synpulse’s Daniel Diederichs.
Data management in financial services companies is undergoing a revolution, thanks to modern cloud technologies and software design. These types of innovations will be highlighted as Systemorph joins other industry leaders at the Microsoft Innovation Summit for Financial Services 2019 in Frankfurt later this month.