Progress of industry to date on implementation of the new IFRS 17 insurance accounting standard
In the next instalment of our IFRS 17 series, we explore the progress of industry to date on implementation of the new IFRS 17 insurance accounting standard.
As we work with insurers worldwide navigating the challenges, the single question we hear most often is: ‘How does my progress compare with my peers?’
To help answer the question, we surveyed 82 insurance executives around the world to benchmark their IFRS 17 and IFRS 9 readiness.
Insurers are navigating a new and unfamiliar world, interpreting two complex new standards while trying to guess when and how they will be applied locally.
Our report highlights their challenges and concerns for operationalising change of this magnitude:
The responses are thought-provoking and we are delighted to share with you our final report - Navigating change: Feedback from leading insurers on the frontline of IFRS 17 and IFRS 9 implementation.