Model changes sometimes sound simpler than they really are. One constant in our IFRS 17 projects is that change ends up being more complex and require more resources than anticipated.
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Valani Global is a niche consulting firm that solely focuses on Moody’s risk management software solutions. We are also part of the Moody’s Global PartnerAlliance program, which is an expert network that offers delivery and support options for Moody’s Analytics clients.
IFRS 17 – Race to the Finish – Actuarial Work and IFRS 17
Model changes sometimes sound simpler than they really are. One constant in our IFRS 17 projects is that change ends up being more complex and require more resources than anticipated.
Read MoreEffective Systemic Risk Management for the Insurance Industry
The problem and largest challenge with systemic risk identification and management is that high-risk activities and high-risk companies are often identified only with hindsight. This article identifies risk factors and proposes a framework for systemic risk management that can be applied in advance by regulators, company management, and other stakeholders.
Read MoreIFRS 17 – Race to the Finish – Don’t Underestimate the Complexity, Even for P&C
The statutory requirements of IFRS 17 are forcing a massive disruption and ultimately a transformation within the insurance industry. No IFRS compliant insurer will be able to escape the profound changes in their operating model, accounting policies, and subsequent accounting system outputs and flows. This extends to connectivity and alignment with and actuarial systems and outputs—all underpinned by IT systems construct, data and reporting requirements.
Read MoreIFRS 17 – The Race to the Finish – Technology Solution Point-to-Point vs. Data Hub
The statutory requirements of IFRS 17 are forcing a massive disruption and ultimately a transformation within the insurance industry. No IFRS compliant insurer will be able to escape the profound changes in their operating model, accounting policies, and subsequent accounting system outputs and flows. This extends to connectivity and alignment with and actuarial systems and outputs—all underpinned by IT systems construct, data and reporting requirements.
Read MoreIFRS 17 – The Race to the Finish – The Standard vs. Implementation Realities
The statutory requirements of IFRS 17 are forcing a massive disruption and ultimately a transformation within the insurance industry. No IFRS compliant insurer will be able to escape the profound changes in their operating model, accounting policies, and subsequent accounting system outputs and flows. This extends to connectivity and alignment with and actuarial systems and outputs—all underpinned by IT systems construct, data and reporting requirements.
Read More2021 AXIS Conversions | What is Involved? An in-depth look into Valani Global’s Best-In-Class Process
Valani Global is a niche consulting firm that solely focuses on Moody’s risk management software solutions. We are also part of the Moody’s Global PartnerAlliance program, which is an expert network that offers delivery and support options for Moody’s Analytics clients.
Using our expertise, we have performed 100+ transformations from different data sources to Moody’s software solutions, including AXIS and RiskIntegrityTM.
100% of our consultants are fully certified in RiskIntegrityTM for IFRS 17. We do not hire juniors who learn on the job at your expense.
Once a resource is allocated to a client, they will remain dedicated to the project until com- pletion.
The success and satisfaction of our clients are paramount to us. We will work hard to ensure that our work meets or exceeds your standards.
IFRS 17 – Race to the Finish – Disruption and Transformation at Your Doorstep
The statutory requirements of IFRS 17 are forcing a massive disruption and ultimately a transformation within the insurance industry. No IFRS compliant insurer will be able to escape the profound changes in their operating model, accounting policies, and subsequent accounting system outputs and flows. This extends to connectivity and alignment with and actuarial systems and outputs—all underpinned by IT systems construct, data and reporting requirements.
Read MoreConsultants’ views of IFRS 17
Santiago Fiallos, Senior Manager, Actuarial & Quantitative Services, at Sia Partners; and Nazir Valani, President and Co-Founder, Valani Global share their thoughts on IFRS 17 implementation at non-life insurers. What concerns and challenges have non-life insurers expressed with their IFRS 17 implementation? Santiago Fiallos: A major challenge concerns data preparation […]
Read MoreTurning Entrepreneurial Spirit into Career Growth
A drive to push through the fear of failure is one of the traits that separates successful entrepreneurs from the pack. And as Nazir Valani learned early in his career, that drive is especially important when doubts come from people he looked to for encouragement.
Read MoreTechniques for Taming Model Risk
By the end of 2022, many major accounting regimes commonly used by actuaries will have significantly changed. Most of these changes are material and will increase the complexity of models needed to calculate actuarial-related balances. New regimes like Principle-Based Reserving (PBR), GAAP LDTI, and IFRS 17 require detailed cash flow projection models, often with multiple assumptions sets that need to be updated frequently, increasing model complexity and risk.
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