Insurance
In today’s complex and interconnected world, the insurance industry is critical to the global economy. As risks evolve, effective risk selection, pricing, and management require deeper insights. With advanced data, technology, and expertise, we help insurers, reinsurers, and brokers tackle their biggest challenges, close the insurance gap, and improve performance.
What is IFRS 17?
IFRS 17 (or PSAK 117) is a global accounting standard by the IASB for insurance contract reporting, replacing IFRS 4. It introduces a new measurement model based on the current value of contracts, requiring insurers to recognize profits and losses over time. The standard enhances transparency and comparability in financial statements, with significant implications for insurers' reporting and compliance.RiskIntegrity™ for IFRS 17
RiskIntegrity™ for IFRS 17 by Moody’s is designed to help companies comply with the new standard while minimizing disruption to their existing processes. The software includes a range of tools and features to help companies automate their accounting processes and ensure accurate and timely reporting.-
AXIS Actuarial System
Moody’s AXIS actuarial system is a powerful modeling solution, used by insurers, reinsurers, and consultants for actuarial analysis of life insurance and annuity business. The AXIS actuarial system emphasizes performance, ease of implementation, flexibility, robustness, scalability, and transparency at lower cost of use. It delivers the flexibility to deploy large-scale computing power through an advanced cloud-based delivery platform or installed software. A flexible vendor-maintained actuarial system handles multiple applications such as reserving, asset and liability management (ALM), pricing, financial modeling, capital calculations, hedging, and financial frameworks.
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RiskIntegrity™ for IFRS 17
The RiskIntegrity™ solution for IFRS 17 helps insurance companies make the transition from current insurance accounting frameworks to IFRS 17. It helps insurance entities of any size—from large international groups with life and non-life businesses to small monoliners—efficiently meet the new reporting challenges. This solution integrates seamlessly into your existing infrastructure, connecting data, models, systems, and processes between actuarial and accounting functions. It addresses the needs of life and property and casualty companies, as well as reinsurers.
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