The limited timeline, a short supply of SMEs and the absence of one stop end-to-end IT solutions is creating many challenges for insurance IT departments. Insurance CIOs need to quickly align with their business heads to identify current system gaps and assess the efforts to comply with IFRS 17. The whitepaper written by Kinsuk Mitra, Director – Finance, Risk & Compliance, HCL Technologies, aims to make insurance CIOs familiar with the new reporting standard by explaining functional scope, timelines, potential benefits, current adoption rates and risks. It will also provide an overview of IT providers like HCL Technologies that offer solutions to solve the business requirements of IFRS 17.
IFRS 17 brings significant change to insurance accounting requirements in over 20 years,
find out how HCL can help in its implementation