Feedback from analysts on the insurance reporting landscape in 2018
Will you be ready to tell analysts your IFRS 17 story?
Getting ready for IFRS 17 is a huge implementation and systems challenge for insurers, and will remain so even with one additional year before implementation.
However, quite apart from the implementation challenge, another crucial aspect is communicating the likely effects to the analyst and investor community so they are prepared and understand what they see.
To throw more light on this, we have carried out research amongst a representative sample of 20 analysts to gauge their views on current insurance accounting to understand their expectations of how things will change under IFRS 17.
This report, Can you see clearly now? has just been published – and throws up some fascinating insights.
Key findings and calls to action
We found that analysts are dissatisfied with current IFRS and see some significant likely benefits under IFRS 17. But they also have a number of uncertainties and potential concerns:
Has your organization begun to plan a program of outreach and education for analysts and investors? Have you identified what their key areas of questioning and interest will be?
If you are an analyst or investor, how do your views and preoccupations over insurance accounting compare to those of your peers?
We believe that Can you see clearly now? will bring you valuable insights and help you to formulate your thinking.
KPMG can help
Whatever your position, KPMG professionals are here to help. Our analyst report follows on from the benchmarking survey of 160 insurance companies in over 30 countries, In it to win it, that we published this summer. This research found that the implementation task facing insurers is considerable and many are facing a race against time to prepare. A year’s delay will be welcome, but there will still be a huge amount to achieve in a short time.
If you would like to discuss our findings in more detail or find out how we can help you navigate either the external communication or implementation journey, please contact us.