The Heart of IFRS 17 Compliance
This report examines the trends and dynamics around IFRS 17 compliance, focusing on the centrality of data management for long-lasting effective compliance with the standard. After providing a brief overview of IFRS 17, we explore the major shifts in architectural components occurring in insurers, and examine why long-term success for insurance firms requires a heterogeneous, flexible and scalable data-management framework.
We also lay out the most effective components of a data warehouse for IFRS 17 compliance, and consider centralized versus distributed data frameworks. A key strand of our effective data-management story is the importance for insurers of versatility when they are confronted with diverse database types. Versatility also supports adaptability, which for insurers can enable better system and platform integration.
