Artificial Intelligence Engineering – The Google Cloud Solution (Part 3 of 3)
In parts 1 and 2 of this series, we covered the challenges our client in the entertainment industry was facing with the automation of their machine ... Read More
Découvrez pourquoi Eclipsys a été nommée 2023 Best Workplaces in Technology, Great Place to Work® Canada et Canada's Top 100 SME !
En savoir plus !In March 2020 the International Accounting Standards Board (IASB) extended the deadline for IFRS 17 reporting to 1st January 2023. IFRS 17 is the new International Financial Reporting Standard for Insurance. This is very good news for some. With the extended deadline, Insurance companies may be able to take a short breather, but the time to act is now.
The challenges with the new reporting standard are just too many. We are seeing the following typical issues:
IFRS 17 entails key fundamental changes in the way the insurance industry works. Under the new standards, Insurance companies now need to:
IFRS 17 reporting requires significant changes in how data is managed in all operational functions such as portfolio management, claims management, actuaries and finance. It is a complete shift towards a more data centred approach.
Here’s what you need to consider at a high level:
This can be achieved with a data strategy geared towards IFRS 17 standards ensuring that data from multiple business functions is not only integrated and managed centrally but also done so transparently.
Our team at Eclipsys can help you design your data strategy so you can easily govern, cleanse, correlate and store data from multiple systems necessary for your IFRS 17 reporting.
Connect with us to discuss how we can not only ensure you are compliant, but you start to put your data first.
In parts 1 and 2 of this series, we covered the challenges our client in the entertainment industry was facing with the automation of their machine ... Read More
In part 1 of this series, we covered the challenges our client in the entertainment industry was facing for automating machine learning models. We ... Read More