We are very excited to share with you that the PwC IFRS 17 Managed Service is available.
IFRS 17 Managed Service provides access to a PwC developed solution in the 17 Solved calculation engine, coupled with ongoing support from a reliable global IFRS 17 implementation leader. The Managed Service fills the gap for many insurers who do not have the time and resources available to develop an in-house IFRS 17 capability and to purchase a vendor solution.
PwC IFRS 17 Managed Service has been developed by a team of global accounting and actuarial experts. The service is run by our IFRS 17 experts on a cloud-based IT solution that is pre-built, fully configured, fully compliant and independently tested. This makes it cost-effective and easy-to-implement and integrates with existing systems, delivering near-instant capability to produce IFRS 17 results.
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Some of the unique features of solution are:
- The solution is fully configured and operational. It allows for all features of the IFRS 17 standard, the explicit options as well as all likely implicit options, and caters for all possible product features your clients may have.
- Our comprehensive methodology log covers all aspects of IFRS 17 (not just the methodology employed in the IFRS 17 solution), enabling you to have a full understanding of the decisions you will need to make in producing the data, and how the data is used to calculate the results.
- Our solution has a simple and user-friendly interface and data model.
- We provide a very compelling price-point targeted at small and medium insurers.
- The solution provides built-in checks and controls for data and results, and facilitates controls in the end-to-end reporting.
- Access to the world-leading team of experts which developed the solution whilst completing the implementation of IFRS 17 at two of our Top 16 Global Priority clients is available with every engagement.
- PwC’s Accounting Consulting Services (ACS) has performed an independent review of the solution to ensure that it is compliant with the standard and PwC’s official views. Our solution has a Global ACS sign-off and is ready to use.
- Our solution has been fully tested by PwC’s Network Information Security (NIS) team and we have completed the Technology Risk Framework (TRF) process. We adhere to the strictest data security and privacy policies, measures and ethics.
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