1. SAS Risk and Finance Workbench: SAS Risk and Finance Workbench is a robust platform that provides integrated solutions for risk management, finance, and compliance, including support for IFRS17 implementation. Through SAS Risk and Finance Workbench, insurance companies can streamline data processing, perform complex calculations, and generate accurate financial reports in accordance with IFRS17 guidelines. The platform’s advanced analytics capabilities and automated workflows facilitate efficient compliance with regulatory changes while enhancing decision-making processes.
2. Wolters Kluwer OneSumX for IFRS17: Wolters Kluwer offers the OneSumX platform, a comprehensive solution tailored for insurance companies seeking to address the challenges posed by IFRS17 implementation. With OneSumX for IFRS17, insurers can leverage automated data mapping, contract classification tools, and financial modeling functionalities to ensure accurate and timely compliance with regulatory requirements. The platform’s user-friendly interface and audit trail capabilities enable organizations to maintain transparency and accountability throughout the reporting process.
3. IBM OpenPages with Watson: IBM OpenPages with Watson is a sophisticated governance, risk, and compliance platform that supports insurance companies in adapting to regulatory changes such as IFRS17. By utilizing IBM OpenPages, insurers can centralize risk data, assess financial impacts, and monitor compliance with evolving accounting standards. The platform’s AI-powered analytics and reporting tools empower organizations to proactively address regulatory challenges, optimize financial performance, and align with industry best practices for IFRS17 compliance.
4. AxiomSL IFRS17 Solution: AxiomSL offers a specialized IFRS17 Solution designed to assist insurance companies in meeting the stringent reporting requirements mandated by the standard. With AxiomSL, insurers can automate data aggregation, calculation processes, and disclosure preparations to ensure accurate and transparent financial reporting under IFRS17. The platform’s data governance features, validation checks, and customizable reporting templates facilitate regulatory compliance while enhancing operational efficiency and risk management capabilities.
By leveraging these reputable platforms for IFRS17 compliance, insurance companies can navigate the complexities of regulatory changes, enhance financial reporting accuracy, and demonstrate adherence to industry standards effectively. Implementing robust solutions tailored for IFRS17 regulatory requirements can streamline compliance efforts, strengthen risk management practices, and position insurers for sustained success in a dynamic regulatory environment.