Insurance group facing IFRS 17 implementation, requiring a complete rethink of its reporting system to produce financial statements simultaneously under multiple frameworks (IFRS 17, IFRS 9, local GAAP) while reconciling insurance and banking business views.

Existing processes, largely manual, could not guarantee traceability of normative adjustments nor meet publication deadlines required by regulators. Finance leadership lacked visibility on new standard impacts.

Before technology selection, the priority was clarifying regulatory requirements and structuring target reporting architecture.

The critical challenge was multi-standard regulatory compliance: how to simultaneously produce IFRS 17, IFRS 9, and local GAAP financial statements, with complete adjustment traceability, within regulator-constrained publication deadlines?

IFRS 17 complexity (CSM management, Risk Adjustment calculation, insurance liability valuation) compounded the requirement to reconcile insurance and banking business views. Manual processes could neither meet deadlines nor document adjustments for auditors.

The objective: build a system enabling:

• Native management of IFRS 17 and IFRS 9 calculation complexity

• Automatic framework reconciliation with traceability of each adjustment

• Production of detailed regulatory disclosures within publication deadlines

With IFRS 17 effective date approaching, we were engaged to structure the reporting system within constrained timelines. Complexity lay in orchestrating Finance, Actuarial, and Accounting teams, each mastering part of the puzzle without an enterprise view.

Our engagement encompassed:

• Building the data model enabling simultaneous management of IFRS 17, IFRS 9, and local GAAP, with native framework reconciliation

• Defining automated normative adjustments in close collaboration with actuaries to ensure calculation consistency (CSM, Risk Adjustment)

• Designing interfaces with existing actuarial systems, avoiding a complete IT overhaul

The system now produces financial statements and detailed regulatory disclosures within publication deadlines, with complete adjustment traceability.