Anaplan, a cloud-based business planning and performance management platform, in collaboration with technology firm Deloitte, has launched an IFRS 17 General Insurance application.

Issued by the International Accounting Standards Board in May 2017, the IFRS 17 is an accounting standard that will impact the insurance industry worldwide.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The standard, which will come into force from 2021, will change the way organisations evaluate, account and report insurance contracts.

Anaplan said that the new solution integrates the strengths of the Anaplan platform for connected planning with Deloitte’s actuarial, finance and data expertise.

With a complete set of functionalities, the IFRS 17 solution opens additional business value to address contract service margin calculations, planning, budgeting, cost allocations, management information, reporting and disclosures.

Additionally, the offering will enable Anaplan users to run sensitivity analyses and simulations, scenario modelling and IFRS 17 impact assessments of any material changes in the business.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Combined with Deloitte’s unified data and disclosure management platforms, these models provides a cost effective, and value adding, end-to-end IFRS 17 solution.

Deloitte Australia partner Thierry Lotrian said: “The main differentiator of the IFRS 17 solution is the strong involvement of the Deloitte actuarial and finance teams.

“The teams have co-designed and stress-tested the models to bring their intellectual property to life in the Anaplan platform.”

Available on Anaplan’s App Hub, the IFRS 17 solution will be rolled out by Deloitte at the Anaplan Financial Services Summit on 2 October in London.