IFRS 17 solution specifically designed for non-life insurers, featuring data consolidation, premium allocation approach support, risk adjustment, and comprehensive reporting capabilities.
Specialized applications that implement new international financial reporting standards for insurance contracts, including complex calculations and disclosure requirements.
More IFRS 17/LDTI Compliance Solutions
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Full IFRS 17/LDTI Standard Coverage Supports all core requirements of IFRS 17 and LDTI, including measurement, presentation, and disclosure. |
Exact by AdvantageGo is marketed as a comprehensive IFRS 17 solution for non-life insurers; documentation and marketing indicate full standard coverage, including measurement, presentation, and disclosure. | |
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Automated Measurement Models Implements General Measurement Model (GMM), Premium Allocation Approach (PAA), and Variable Fee Approach (VFA). |
Product explicitly references Premium Allocation Approach (PAA) support and automation; likely implements General Measurement Model (GMM) as standard for IFRS 17. Variable Fee Approach (VFA) less relevant for non-life – potential limitation. | |
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Contractual Service Margin (CSM) Calculation Automated calculation and unrolling of CSM, supporting required adjustments. |
Product literature references Contractual Service Margin (CSM) calculations and associated unrolling, consistent with IFRS 17 non-life scope requirements. | |
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Risk Adjustment Calculation Automates risk margin determination as per standards. |
Risk adjustment calculation is listed as a supported feature for non-life insurance. | |
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Discounting Engine Provides updated discount rates, multi-currency, and curve management options. |
Mentions updated discounting including curve management, as required for IFRS 17. | |
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Reinsurance Support Handles reinsurance contracts, including held and issued. |
Handles reinsurance contracts; typical for IFRS 17 compliance suites. | |
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Portfolio Grouping Automates grouping of contracts by profitability and other mandated criteria. |
Automated grouping by profitability and regulatory portfolio segmentation described in product material. | |
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Transition Methodologies Supports full, modified, and fair value transition methods. |
Documentation references support for full and modified retrospective transition for IFRS 17. | |
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Policy Changes/Modification Handling Manages contract modifications, derecognition, and changes in estimates. |
Handles policy changes and contract modifications; required for compliance. | |
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Unit of Account Flexibility Customizes grouping beyond minimum standard (e.g., by line, product). |
Grouping flexibility (unit of account) referenced for non-life portfolios. |
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Data Integration APIs Open APIs for integration with policy admin, actuarial, finance, and reporting systems. |
API and integration discussed as part of data consolidation and connections with finance and actuarial systems. | |
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Data Validation Rules Engine Automated checks for completeness, consistency, and reliability. |
Validation rules engine is a base feature for automated, production-grade compliance. | |
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Data Lineage Tracking Tracks flow, origin, and transformation of key data elements. |
No information available | |
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High-volume Processing Capacity Handles large and complex datasets typical in insurance portfolios. |
No information available | |
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Historical Data Storage Stores contract, assumption, and result data for all mandated retention periods. |
Retention of historical contract data is required for IFRS 17 audit and is referenced in solution documentation. | |
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ETL (Extract-Transform-Load) Automation Automates ingestion from various source systems with transformation and mapping tools. |
ETL automation and ingestion/transformation tools described as part of data consolidation capability. | |
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Multi-source Reconciliation Reconciles incoming data with multiple systems and ledgers. |
No information available | |
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Master Data Management Defines, manages, and governs critical information consistency. |
No information available | |
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Data Encryption & Security Protects sensitive data at rest and in transit. |
Data security including encryption at rest and in transit is standard in financial software; referenced in solution materials. | |
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Bulk Upload/Download Tools Enables rapid ingestion and extraction for large files and records. |
Bulk upload/download tools for large files are required for data consolidation and migration; referenced in docs. |
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Flexible Calculation Rules Supports configurable business and actuarial rules. |
Calculation rules are configurable for various PAA and general calculation needs, per product documentation. | |
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Parallel Processing Allows multi-threaded computation to increase speed. |
Parallel processing and automation referenced for timely non-life insurer close/reporting runs. | |
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Real-time Calculation Capability Performs calculations on-demand with minimal lag. |
Real-time or on-demand calculation is referenced to support fast period closes. | |
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Calculation Audit Trails Logs all calculation steps for transparency and review. |
Audit trails for calculations and changes are available for regulatory compliance. | |
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Scenario/Assumption Management Handles multiple what-if analysis and assumption sets. |
No information available | |
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Bulk Processing Speed Throughput for large-scale contract calculations. |
No information available | |
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Sensitivity Analysis Assesses impact of changing key assumptions. |
No information available | |
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Calculation Version Control Tracks logic/parameter changes over time. |
No information available | |
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Formula Transparency Displays calculation formulas and method logic to users. |
No information available | |
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Out-of-the-box Metric Support Delivers pre-configured financial metrics aligned with the standard. |
Out-of-the-box IFRS 17 metrics and templates referenced in product summary. |
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Standard Regulatory Disclosure Templates Includes all required notes, tables, and financial statements. |
Product advertises delivery of all required IFRS 17 disclosures—notes, tables, and FS. | |
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Custom Report Builder Facilitates user-driven report formats and analytics. |
Report builder and analytics tools are expressly marketed for Exact. | |
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Drill-down and Traceability Allows users to explore reports from summary to detailed source data. |
Drill-down and traceability among reporting capabilities mentioned. | |
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Automated Period-end Close Reporting Speeds up the close process through pre-configured report automation. |
Automated period-end close reporting is advertised as a key advantage, especially for non-life finance. | |
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Multi-GAAP Support Handles presentation for both IFRS and local standards. |
Multi-GAAP comparability is described to support both IFRS and local GAAP for international non-life insurers. | |
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Report Scheduling & Distribution Allows reports to be scheduled and delivered automatically. |
No information available | |
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Comparative Reporting Supports current and prior period figures including restatements. |
No information available | |
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Visualization Tools Offers dashboards, graphs, and trend analytics. |
Visualization and dashboard tools are promoted in solution marketing and demos. | |
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Export Functionality Outputs reports in multiple file formats (PDF, Excel, CSV, etc.). |
Export functions to Excel, PDF, and CSV claimed in feature lists. | |
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Full Audit Explanations in Reports Embeds explanations and rationale for report figures. |
No information available |
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Comprehensive Audit Log Tracks all user, data, and calculation changes. |
Audit logging features are referenced to support compliance and traceability. | |
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Role-based Access Controls (RBAC) Customizes access based on user roles and duties. |
No information available | |
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Segregation of Duties Support Prevents conflicting roles or approvals. |
No information available | |
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Internal & External Audit Evidence Extraction Eases data/document collection for audits. |
No information available | |
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Change Approval Workflow Automates approval for parameter or process changes. |
No information available | |
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Traceable Adjustment Entries All manual or system adjustments are linked to audit trails. |
No information available | |
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Automated Exception Monitoring Flags errors/issues with smart alerts and logs. |
No information available | |
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Control Self-Assessment Tools Built-in testing and sign-off for control effectiveness. |
No information available | |
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User Activity Monitoring Tracks logins, data access, and update activity. |
No information available | |
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Configurable Data Retention Policies Supports custom data retention in line with regulatory frameworks. |
No information available |
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Intuitive User Interface Modern, easy-to-navigate, and customizable workspace. |
Modern UI and user-friendly navigation referenced as product advantages. | |
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Multilingual Support Application interface available in multiple languages. |
No information available | |
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Help and Guided Tutorials Built-in help, walkthroughs, and documentation. |
No information available | |
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Customizable Dashboards User-selected widgets, KPIs, and report layouts. |
No information available | |
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Advanced Search and Filter Tools Quickly finds contracts, reports, or data sets. |
No information available | |
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Batch Task Processing Enables users to run multiple processes or jobs in one go. |
No information available | |
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Mobile Access Responsive or native mobile support for remote access. |
No information available | |
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Accessibility Features Supports screen readers, high contrast, and keyboard navigation. |
No information available | |
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Personalization Options Adapts look, feel, and shortcuts to user preferences. |
No information available | |
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Error Handling and Guidance Explains errors and suggests corrective actions. |
No information available |
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Concurrent User Support Maximum simultaneous users without performance degradation. |
No information available | |
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Processing Throughput Peak calculation and reporting volume handled over a defined interval. |
No information available | |
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Elastic Scalability Dynamically adjusts computing resources based on current load. |
No information available | |
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High Availability (HA) System uptime assurance via redundancy/failover. |
No information available | |
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Disaster Recovery (DR) Resilience with backup, restore, and failover options. |
No information available | |
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Response Time Average response time for standard user actions. |
No information available | |
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Data Archiving Tools Automates offloading old data to maintain speed. |
No information available | |
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Performance Monitoring Dashboard Real-time visibility into system/storage/network health. |
No information available | |
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Load Balancer Integration Supports distribution of requests for optimal performance. |
No information available | |
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Resource Usage Reporting Tracks compute, storage, and bandwidth use. |
No information available |
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GDPR/CCPA Compliance Meets data privacy laws where required. |
No information available | |
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End-to-End Encryption Secures all network communication and data at rest. |
No information available | |
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Multi-factor Authentication (MFA) Requires multiple verification steps for sensitive actions/access. |
No information available | |
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Single Sign-On (SSO) Support Integrates with corporate authentication providers. |
No information available | |
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Regular Penetration Testing Routine testing for vulnerabilities and exposures. |
No information available | |
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Vulnerability Management Scans, prioritizes, and remediates security risks. |
No information available | |
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Custom Security Policy Configuration Allows organization-specific security rules. |
No information available | |
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Detailed Security Logs Logs all access attempts, permission changes, and suspicious events. |
No information available | |
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User Session Management Tracks, expires, and audits user sessions. |
No information available | |
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Incident Response Toolkit Facilitates fast mitigation of detected threats. |
No information available |
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Multi-cloud Support Can be deployed on all major cloud platforms (AWS, Azure, GCP, etc.). |
No information available | |
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On-premises Deployment Supports installation in user’s private data center environment. |
No information available | |
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Hybrid Deployment Blend of cloud and on-premise resources. |
No information available | |
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Containerization Support Enables deployment as Docker/Kubernetes containers. |
No information available | |
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SaaS Option Available fully as Software-as-a-Service. |
No information available | |
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Automated Patching & Updates Handles system updates and upgrades with minimal manual effort. |
No information available | |
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High-speed Deployment Tools Reduces rollout time and effort. |
No information available | |
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Disaster Recovery as a Service (DRaaS) Managed disaster recovery through cloud provider. |
No information available | |
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Geographic Redundancy Supports failover/data-sync across regions. |
No information available | |
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Automated Scaling Rules Configuration for resource expansion/contraction based on business rules. |
No information available |
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Configurable Business Rules Engine Allows business users to create or adjust rules without coding. |
No information available | |
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Plugin Framework Add new functions or integrations without disrupting core system. |
No information available | |
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Custom Fields and Attributes Addition of company-specific data fields. |
No information available | |
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API for Custom Integrations Public API enables quick integration with new systems. |
No information available | |
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Workflow Customization Tailors process flows for approvals, reviews, and escalations. |
No information available | |
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Custom Calculation Modules Users can design proprietary actuarial or finance formulae. |
No information available | |
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User-defined Reporting Create new report templates as business needs evolve. |
No information available | |
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Localization Options Adapts solution for local language, currency, and regulatory context. |
No information available | |
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UI Extensibility Customizes user interface components and branding. |
No information available | |
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Integration Marketplace Ecosystem for certified add-ons or partner solutions. |
No information available |
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Dedicated Onboarding Support Assistance for initial deployment and user training. |
No information available | |
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Standardized Implementation Templates Provides blueprints and best practices for rapid rollout. |
No information available | |
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Migration Toolkits Automates conversion of legacy data and processes. |
No information available | |
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24/7 Support Availability Full-time technical and business support access. |
No information available | |
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Knowledge Base Access Self-service learning, FAQs, and documentation. |
No information available | |
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User Community Forums Peer-to-peer learning and solution crowdsourcing. |
No information available | |
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Release Notes and Change Documentation Detailed release impact and upgrade guidance. |
No information available | |
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Service Level Agreement (SLA) Metrics Uptime, support response, and resolution guarantees. |
No information available | |
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Designated Account Manager Named contact for ongoing engagement. |
No information available | |
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Continuous Training Programs Regular product and standard update training. |
No information available |
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