Ifrs 17 Implementation And Actuarial Challenges Masterclass

• Understand the key principles and concepts of IFRS 17.
• Gain proficiency in applying measurement models and coverage units.
• Identify actuarial challenges associated with IFRS 17 and develop strategies to overcome them.
• Successfully transition to IFRS 17 while minimizing disruption.
• Perform risk and sensitivity analysis in the context of IFRS 17.
• Prepare accurate financial statements and disclosures under IFRS 17.
• Ensure compliance with regulatory requirements throughout the implementation process.
• Utilize case studies and practical examples to reinforce learning and decision-making skills.

This masterclass aims to equip participants with the knowledge, skills, and tools needed to effectively implement IFRS 17 in the insurance industry while addressing actuarial challenges and ensuring compliance with regulatory standards.

CONTENT

1. Introduction to IFRS 17:
   • Overview of IFRS 17 and its significance in the insurance industry.
   • Key concepts and principles of IFRS 17.
2. IFRS 17 Framework:
   • Detailed examination of the IFRS 17 framework, including measurement models and coverage units.
   • Presentation of insurance contracts in financial statements.
3. Actuarial Challenges:
   • Identifying and addressing actuarial challenges in IFRS 17 implementation.
   • Actuarial assumptions and data requirements.
4. Measurement Models:
   • Comprehensive exploration of measurement models, including the Building Block Approach and the Premium Allocation Approach.
   • Case studies and practical examples.
5. Transition to IFRS 17:
   • Transition requirements and practical considerations for implementing IFRS 17.
   • Transition options and methods.
6. Risk and Sensitivity Analysis:
   • Assessing the impact of IFRS 17 on risk and sensitivity analysis.
   • Stress testing and scenario analysis.
7. Financial Reporting and Disclosures:
   • Preparing financial statements under IFRS 17.
   • Disclosure requirements and best practices.
8. Regulatory Compliance:
   • Ensuring compliance with regulatory requirements while implementing IFRS 17.
   • Interaction with supervisory authorities.

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties