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Mastering IFRS 17 for Insurance Contracts Implementation and Compliance Checklist

Mastering IFRS 17 for Insurance Contracts Implementation and Compliance Checklist

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Mastering IFRS 17 for Insurance Contracts Implementation and Compliance Checklist

This comprehensive course is designed to equip insurance professionals with the knowledge and skills necessary to implement IFRS 17 for insurance contracts and ensure compliance with the new standard.



Course Overview

The course is divided into 12 modules, covering a wide range of topics related to IFRS 17, including the scope and definitions, recognition and measurement, disclosure requirements, and implementation considerations.



Course Outline

Module 1: Introduction to IFRS 17

  • Overview of IFRS 17 and its objectives
  • History and background of IFRS 17
  • Key principles and concepts
  • Scope and definitions

Module 2: Scope and Definitions

  • Insurance contracts and their characteristics
  • Definition of an insurance contract
  • Separating components of an insurance contract
  • Examples and case studies

Module 3: Recognition and Measurement

  • Initial recognition and measurement
  • Subsequent measurement and changes in estimates
  • Contractual service margin (CSM) and its amortization
  • Risk adjustment and its calculation

Module 4: Disclosure Requirements

  • Disclosure objectives and principles
  • Information about insurance contracts
  • Significant judgments and assumptions
  • Examples of disclosure requirements

Module 5: Transition to IFRS 17

  • Transition methods and options
  • Retrospective application and its limitations
  • Modified retrospective approach
  • Fair value approach

Module 6: Implementation Considerations

  • System and process changes
  • Data requirements and data management
  • Model changes and validation
  • Governance and controls

Module 7: Insurance Contract Boundary

  • Determining the contract boundary
  • Cash flows within the contract boundary
  • Examples and case studies

Module 8: Risk Adjustment

  • Risk adjustment techniques and methodologies
  • Confidence level and calibration
  • Examples and case studies

Module 9: Contractual Service Margin (CSM)

  • CSM calculation and amortization
  • Changes in CSM and their impact
  • Examples and case studies

Module 10: Reinsurance Contracts

  • Reinsurance contracts and their characteristics
  • Recognition and measurement of reinsurance contracts
  • Disclosure requirements for reinsurance contracts

Module 11: Investment Contracts with Discretionary Participation Features

  • Characteristics and recognition of investment contracts with DPF
  • Measurement and disclosure requirements
  • Examples and case studies

Module 12: Implementation Roadmap and Compliance Checklist

  • Creating an implementation roadmap
  • Key milestones and timelines
  • Compliance checklist and best practices


Course Features

This course is designed to be interactive, engaging, and comprehensive, with a focus on practical, real-world applications.

  • Interactive: Engaging video lessons, quizzes, and assessments
  • Personalized: Learning paths tailored to individual needs and goals
  • Up-to-date: Content updated regularly to reflect changes in IFRS 17
  • Practical: Real-world examples and case studies
  • High-quality content: Developed by expert instructors with extensive experience in IFRS 17
  • Certification: Certificate upon completion issued by The Art of Service
  • Flexible learning: Learn at your own pace, anytime, anywhere
  • User-friendly: Intuitive platform with mobile accessibility
  • Community-driven: Discussion forums and community support
  • Actionable insights: Practical takeaways and implementation guidance
  • Hands-on projects: Apply learning to real-world scenarios
  • Bite-sized lessons: Short, focused lessons for easy learning
  • Lifetime access: Access course materials for a lifetime
  • Gamification: Engaging gamification elements to enhance learning
  • Progress tracking: Track your progress and stay motivated


Upon Completion

Upon completing this course, participants will receive a Certificate of Completion issued by The Art of Service, demonstrating their expertise in IFRS 17 and their ability to implement the standard in their organization.

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