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Gartner research report: What Insurance CIOs Need to Know About the Tight IFRS 17 Timeline


Discover Gartner’s recommendations and get ready for this new standard.

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Compliments of CCH Tagetik

Abstract


In January 2021, IFRS 17 will set financial accounting, actuarial modelling, and reporting and financial analytics systems ablaze. To be complaint, IT departments will have to find ways to meet tight timelines, implement end-to-end solutions, and cover large system gaps.

In this report we believe that Gartner, the leading analyst firm provides insurance companies with the 411 on how IFRS 17 will impact businesses.

Download the report and discover Gartner’s recommendations for compliance with this new standard.

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Our newest solution, CCH Tagetik for IFRS 17 recently received the 2018 CODiE Award for Best Financial Management Solution. Why did we win? For our solution’s ability to help insurers manage measurement models, perform data repositioning, and access a robust suite of reporting and disclosure tools

ABOUT IFRS 17

Issued in May 2017 by the International Accounting Standards Board, IFRS 17 is a new International Financial Reporting Standard that insurance companies must implement by January 1st, 2021. The objective of IFRS 17 is to create a higher degree of financial transparency and comparability regarding the rights and obligations of insurance contracts. According to the IFRS Foundation, the standard applies to approximately 450 insurers that are publicly listed and operate in IFRS jurisdictions, which include EU member states and several other countries worldwide.


ABOUT GARTNER

Gartner is the world's leading research and advisory company and a member of the S&P 500. They equip business leaders with indispensable insights, advice and tools to achieve their mission-critical priorities and build the successful organizations of tomorrow.





Gartner, What Insurance CIOs Need to Know About the Tight IFRS 17 Timeline, Juergen Weiss, 7 March 2018. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and is used herein with permission. All rights reserved.