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Throughout COVID-19, the insurance industry – along with all business - has experienced a time of monumental challenge. The impacts of this health emergency have expanded into far-reaching economic and societal issues.

To help you understand the ongoing impacts of COVID-19 on your business, we are offering a series of webcasts on the new reality for insurance. Upcoming webcasts include:

Getting on the fast track to IFRS 17: Interim reporting choices

IFRS 17, Insurance Contracts, introduces significant changes in financial reporting by insurers that report using IFRS. Many insurers are hard at work updating their annual reporting and closing processes; however, don’t forget that interim reporting has its own specific considerations which will need to be planned for.

An interim report, whether quarterly, or half yearly will often be the first set of results that many insurers will release to the market in accordance with IFRS 17 and brings additional considerations that insurers cannot afford to address late in the game, especially as interim results are usually reported to a tight timescale.

To help insurers accelerate their implementation of IFRS 17, a webcast sharing insights from KPMG International’s latest publication Interim reporting choices under IFRS 17 is being offered.

We’ll discuss some important issues to consider as insurers plan for their initial set of interims on an IFRS 17 basis and suggest some key areas they should consider transforming as part of their IFRS 17 program to keep their finance function on the fast track.

We have two options for the webcast. When registering, please select the best option for you based on your time zone.

Option 1: EMA/Americas

Date: Tuesday 20 April 2021
Time: 8:00am (EDT)/1:00pm (BST)/2:00pm (CEST)

Option 2: ASPAC

Date: Wednesday 21 April 2021
Time: 8:00am (HKT)/9:00am (JST)/ 10:00am (AEST)

This webcast will last approximately 60 minutes. It will be recorded and a link circulated for those unable to attend.

KPMG presenters

  • Mary Trussell, Global Insurance Change Lead Partner, KPMG International
  • Bob Owel, Director, KPMG International Standards Group
  • Grinni Hsiao, Senior Manager, KPMG International Standards Group
  • Peter Carlson, Executive Director, KPMG International Standards Group
     

Future of Finance webcast

Our first webcast will focus on the Future of Finance. While COVID-19 was a major unexpected event, disruption is everywhere and occurring at unprecedented speed in today's market. We’re seeing new business models, changing customer and employee expectations, the convergence of industry models, rapidly developing innovation, and new regulatory and social demands, to name a few.

During this webcast we will explore:

  • The significant shift from monitoring historical performance to being a partner to the Business, that can drive future decision making and help execute strategy, maximising future growth and profitability through advanced analytics.
  • How the insurance finance function has evolved to meet complex demands and must evolve its role again.
  • How different the new evolution is from today, as insurers need their finance functions to help them grow, a big change in mind-set.
  • What the future capabilities are to be a successful partner to the business and implications for the modern workforce.

Details

Date: Wednesday April 14, 2021
Time: 8:00am (EDT)/1:00pm (GMT)/2:00pm (CET)/8:00pm (HKT)

This webcast will last approximately 60 minutes, and a recording will be made available for those unable to attend.

KPMG presenters:

  • Mark Longworth, Global Head of Insurance Advisory, KPMG
  • Zaid Hoosain, Partner, Finance Transformation, Insurance, KPMG in Canada
  • David Fourie, Partner, Finance Transformation, Insurance, KPMG in the US

Click on the link below to register for the webcast.

Get in touch

For further information on IFRS 17 implementation, please contact Brian Morrissey or Niall Naughton of our Insurance team. We'd be delighted to hear from you.