Additional code library for IFRS 17 calculations and process including a mix of example calculations and model process to comply with aspects of the regulation. Due to the nature of the regulations there cannot be a standard out-of-the-box solution as it will depend upon the nature of your business and interpretation of the regulations. As such the example shows:
- How the process can be run end to end to allow for the Risk Adjustment and the Contractual Service Margin.
- How the portfolio level calculations can be undertaken with the aggregations and grouping happening within the model and process.
- How the calculation of the initial values and transference of the required inputs from one reporting period run to the next can be achieved with the software.
- Example reporting templates for the reporting periods for the portfolios, new business and totals.
This example can then be amended and used as a start point from which to integrate and build on from your existing models. This means you can focus on the actual calculation requirements specific to your business rather than spending so much of your time working out how to process and complete the calculations quickly and efficiently. This, combined with the core system functionality to share and reuse your code between processes, allows an efficient and universal modeling suite to be developed with consistency across processes, functions, and departments.