{"id":71,"date":"2022-05-16T11:23:06","date_gmt":"2022-05-16T11:23:06","guid":{"rendered":"https:\/\/crmt.dev.wordpress.optiweb.si\/?post_type=solutions&#038;p=71"},"modified":"2022-06-16T08:07:29","modified_gmt":"2022-06-16T08:07:29","slug":"ifrs-17-solution-for-insurance","status":"publish","type":"solutions","link":"https:\/\/crmt.dev.wordpress.optiweb.si\/sl\/solutions\/regulatory-compliance\/ifrs-17-solution-for-insurance\/","title":{"rendered":"IFRS 17 Solution for Insurance"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The International Accounting Standard Board (IASB) issued IFRS 17 as the new Accounting Standard for measurement of liabilities of insurance contracts on May 18, 2017. The Standard is to be applied for financial reporting from January 1, 2022.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The new standard brings significant changes into measurement and accounting of insurance contracts that, without the right strategy, will lead to a time-consuming and expensive overhaul of financial management processes, applications, and operating models.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The impact of IFRS 17 is extensive across your entire organization, affecting the accounting policies, systems, and processes you have in place. For this reason we have an&nbsp;IFRS 17 solution&nbsp;that benefits everyone. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Our automated solution has a proven track record of:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>increasing efficiency,<\/li><li>decreasing cost, and<\/li><li>reducing risk&nbsp;across all departments.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">We also provide full&nbsp;maintenance and support&nbsp;during the process of data collection, calculations, reporting, and disclosures.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This way you can focus on your business with confidence that you\u2019re in compliance with regulatory standards.<\/p>\n\n\n<div class=\"columns-icons-block noshadow\"><h2 class=\"text-center mb32\">Key features of the software solution<\/h2><div class=\"columns-icons-block__columns mb60\"><div class=\"single-column\"><div class=\"single-column__content\"><img loading=\"lazy\" decoding=\"async\" width=\"85\" height=\"74\" src=\"https:\/\/crmt.dev.wordpress.optiweb.si\/wp-content\/uploads\/2021\/10\/Group-22.png\" class=\"attachment-full size-full\" alt=\"\" srcset=\"https:\/\/crmt.dev.wordpress.optiweb.si\/wp-content\/uploads\/2021\/10\/Group-22.png 85w, https:\/\/crmt.dev.wordpress.optiweb.si\/wp-content\/uploads\/2021\/10\/Group-22-23x19.png 23w\" sizes=\"auto, (max-width: 85px) 100vw, 85px\" \/><h4 class=\"text-green mt24 text-center\">Fast setup<\/h4><div class=\"text-center\">Preconfigured solution gets you compliant quickly with a lower total cost of ownership (TCO). <\/div><\/div><\/div><div class=\"single-column\"><div class=\"single-column__content\"><img loading=\"lazy\" decoding=\"async\" width=\"86\" height=\"85\" src=\"https:\/\/crmt.dev.wordpress.optiweb.si\/wp-content\/uploads\/2021\/10\/Group-23.png\" class=\"attachment-full size-full\" alt=\"Planning\" srcset=\"https:\/\/crmt.dev.wordpress.optiweb.si\/wp-content\/uploads\/2021\/10\/Group-23.png 86w, https:\/\/crmt.dev.wordpress.optiweb.si\/wp-content\/uploads\/2021\/10\/Group-23-44x44.png 44w\" sizes=\"auto, (max-width: 86px) 100vw, 86px\" \/><h4 class=\"text-green mt24 text-center\">Single Version of Truth<\/h4><div class=\"text-center\">Creates a single contract data repository to accurately calculate, report, and disclose.<\/div><\/div><\/div><div class=\"single-column\"><div class=\"single-column__content\"><img loading=\"lazy\" decoding=\"async\" width=\"100\" height=\"96\" src=\"https:\/\/crmt.dev.wordpress.optiweb.si\/wp-content\/uploads\/2021\/10\/Group-5.png\" class=\"attachment-full size-full\" alt=\"\" \/><h4 class=\"text-green mt24 text-center\">Easily Integrated<\/h4><div class=\"text-center\">Our regulatory solutions are non-disruptive to existing architectures they integrate with all your systems, whether they are on premises or on the cloud. <\/div><\/div><\/div><div class=\"single-column\"><div class=\"single-column__content\"><img loading=\"lazy\" decoding=\"async\" width=\"106\" height=\"101\" src=\"https:\/\/crmt.dev.wordpress.optiweb.si\/wp-content\/uploads\/2021\/10\/Group-16.png\" class=\"attachment-full size-full\" alt=\"\" \/><h4 class=\"text-green mt24 text-center\">Flexible Modeling<\/h4><div class=\"text-center\">Easily extend and maintain the library of contract models , configure calculation logic and rules with a Finance friendly interface to stay compliant.<\/div><\/div><\/div><\/div><\/div>\n\n\n<h2 class=\"wp-block-heading\">Resource prepared by experts <\/h2>\n\n\n<div class=\"text-side-image mb20\"><img loading=\"lazy\" decoding=\"async\" width=\"525\" height=\"525\" src=\"https:\/\/crmt.dev.wordpress.optiweb.si\/wp-content\/uploads\/2021\/10\/Regulatory_reporting_crmt-525x525.jpg\" class=\"attachment-square_img size-square_img\" alt=\"\" srcset=\"https:\/\/crmt.dev.wordpress.optiweb.si\/wp-content\/uploads\/2021\/10\/Regulatory_reporting_crmt-525x525.jpg 525w, https:\/\/crmt.dev.wordpress.optiweb.si\/wp-content\/uploads\/2021\/10\/Regulatory_reporting_crmt-150x150.jpg 150w, https:\/\/crmt.dev.wordpress.optiweb.si\/wp-content\/uploads\/2021\/10\/Regulatory_reporting_crmt-254x254.jpg 254w, https:\/\/crmt.dev.wordpress.optiweb.si\/wp-content\/uploads\/2021\/10\/Regulatory_reporting_crmt-44x44.jpg 44w\" sizes=\"auto, (max-width: 525px) 100vw, 525px\" \/><div class=\"text-side-image__content\"><p class=\"mb8 font-big\">Functionalities of IFRS17 demonstrated on simple contract<\/p><p class=\"text-green mb20\"><\/p><p class=\"mb20\">A breakdown of functionalities based on a simple 3 year contract.<\/p><a href=\"https:\/\/www.crmt.com\/wp-content\/uploads\/2022\/01\/functionalities-of-ifrs17-demonstrated-on-simple-contract.pdf\" target=\"\"><span class=\"uppercase bold\">Download<\/span><\/a><\/div><\/div>\n\n\n<h2 class=\"has-text-align-center wp-block-heading\">Technology<\/h2>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-8f761849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/crmt.dev.wordpress.optiweb.si\/partners\/wolters-kluwer\/\"><img loading=\"lazy\" decoding=\"async\" width=\"560\" height=\"140\" src=\"https:\/\/crmt.dev.wordpress.optiweb.si\/wp-content\/uploads\/2022\/01\/Wolters_Kluwer_560x140.png\" alt=\"\" class=\"wp-image-3295\" srcset=\"https:\/\/crmt.dev.wordpress.optiweb.si\/wp-content\/uploads\/2022\/01\/Wolters_Kluwer_560x140.png 560w, https:\/\/crmt.dev.wordpress.optiweb.si\/wp-content\/uploads\/2022\/01\/Wolters_Kluwer_560x140-300x75.png 300w\" sizes=\"auto, (max-width: 560px) 100vw, 560px\" \/><\/a><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><strong>Wolters Kluwer<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In its 2020 Magic Quadrant for Cloud Financial Planning &amp; Analysis Solutions, Garter recognised  Wolters Kluwer&#8217;s CCH Tagetik as a field leader.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The International Accounting Standard Board (IASB) issued IFRS 17 as the new Accounting Standard for measurement of liabilities of insurance contracts on May 18, 2017. The Standard is to be applied for financial reporting from January 1, 2022. The new standard brings significant changes into measurement and accounting of insurance contracts that, without the right <a href=\"https:\/\/crmt.dev.wordpress.optiweb.si\/sl\/solutions\/regulatory-compliance\/ifrs-17-solution-for-insurance\/\" class=\"more-link\">&#8230;<\/a><\/p>\n","protected":false},"featured_media":0,"parent":51,"menu_order":0,"template":"","class_list":["post-71","solutions","type-solutions","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>IFRS 17 Solution for Insurance - crmt.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crmt.dev.wordpress.optiweb.si\/solutions\/regulatory-compliance\/ifrs-17-solution-for-insurance\/\" \/>\n<meta property=\"og:locale\" content=\"sl_SI\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IFRS 17 Solution for Insurance - crmt.com\" \/>\n<meta property=\"og:description\" content=\"The International Accounting Standard Board (IASB) issued IFRS 17 as the new Accounting Standard for measurement of liabilities of insurance contracts on May 18, 2017. The Standard is to be applied for financial reporting from January 1, 2022. The new standard brings significant changes into measurement and accounting of insurance contracts that, without the right ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/crmt.dev.wordpress.optiweb.si\/solutions\/regulatory-compliance\/ifrs-17-solution-for-insurance\/\" \/>\n<meta property=\"og:site_name\" content=\"crmt.com\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-16T08:07:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/crmt.dev.wordpress.optiweb.si\/wp-content\/uploads\/2022\/01\/Wolters_Kluwer_560x140.png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minuta\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/crmt.dev.wordpress.optiweb.si\/solutions\/regulatory-compliance\/ifrs-17-solution-for-insurance\/\",\"url\":\"https:\/\/crmt.dev.wordpress.optiweb.si\/solutions\/regulatory-compliance\/ifrs-17-solution-for-insurance\/\",\"name\":\"IFRS 17 Solution for Insurance - 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