Mastering IFRS 17 for Insurance Contracts: The Complete Implementation Guide
You’re under pressure. Deadlines are tightening. Your team depends on you to interpret IFRS 17 correctly, and one misstep could mean material misstatements, audit findings, or board-level scrutiny. The complexity is real: the measurement models, the grouping requirements, the transition options. You need clarity, fast. But most training stops at theory. It leaves you stranded when it’s time to build a compliant liability model, calculate contractual service margins, or document your entity’s policy elections. You’re left searching through 150-page standards, trying to reverse-engineer implementation. That ends today. Mastering IFRS 17 for Insurance Contracts: The Complete Implementation Guide is not another abstract overview. This is the field manual used by actuaries, financial controllers, and audit managers at global insurers to transform confusion into confidence-and compliance-within weeks, not years. One senior financial reporting manager at a multinational life insurer used this exact system to lead her company’s IFRS 17 rollout. She went from overwhelmed to delivering a fully documented, audit-ready implementation package to external auditors in under 90 days. No consultants. No panic. Just clarity, structure, and certainty. This course delivers one outcome: going from uncertainty to a fully operational, board-ready IFRS 17 implementation framework, complete with calculation templates, policy documentation, and audit-trail-ready workpapers-ready in as little as 30 days. You’ll gain the ability to independently design, build, and defend your IFRS 17 accounting framework-with precision, clarity, and authority. No more second-guessing. No more dependency on overpriced advisors. Here’s how this course is structured to help you get there.Course Format & Delivery Details Self-Paced. Immediate Online Access. On-Demand Learning. This course is designed for professionals who need to learn deeply, apply quickly, and move forward-without being locked into fixed schedules or time-intensive formats. Once enrolled, you’ll gain secure, 24/7 online access to the full curriculum from any device, including mobile. Learn during your commute, between meetings, or from your desk-without disruption. What You Can Expect
- Typical completion in 4–6 weeks, with many learners implementing core components in under 30 days.
- Lifetime access to all materials, including all future updates at no additional cost-ensuring your knowledge stays current as interpretations and regulatory guidance evolve.
- Zero time commitments or fixed deadlines. Study at your own pace, on your schedule, from anywhere in the world.
- Mobile-friendly platform with responsive design-access, resume, and progress seamlessly across devices.
Support & Credibility
Questions arise. That’s expected. That’s why you receive direct access to expert guidance through structured Q&A support. Your inquiries are reviewed by IFRS 17 specialists with real-world implementation experience at tier-1 insurers and global audit firms-ensuring responses are technically sound, practical, and implementation-focused. Upon successful completion, you will receive a Certificate of Completion issued by The Art of Service-a globally recognised credential trusted by professionals in over 120 countries. This certificate validates your mastery of IFRS 17 implementation, enhances your professional profile, and signals to employers and auditors that you operate at the highest standard. Zero-Risk Enrollment: Your Confidence Guaranteed
We eliminate every barrier to your success. The pricing is straightforward with no hidden fees, no subscriptions, and no ongoing charges. One payment grants full, unrestricted access forever. Enrollment accepts Visa, Mastercard, and PayPal through a secure payment gateway, ensuring fast and safe processing. If for any reason you find the course does not meet your expectations, you are covered by our 30-day money-back guarantee, no questions asked. You can request a full refund at any time within 30 days of enrollment. The risk is on us-not you. Some of you are thinking: “Will this actually work for me?” Especially if you’re not a big-four auditor, or your company hasn’t started implementation yet. Let us be clear: This works even if: - You’ve never applied IFRS 17 in practice and are starting from scratch.
- Your company uses a non-standard chart of accounts or legacy actuarial systems.
- You’re not an actuary but need to understand the financial reporting implications.
- You work at a small-to-midsize insurer with limited resources.
- You’re transitioning from IFRS 4 and feel behind on the technical details.
We’ve structured every module to be role-agnostic, technically precise, and immediately applicable-whether you’re a financial accountant, internal auditor, CFO, or actuarial analyst. Real templates, practical workflows, and audit-ready documentation structures are included so you can apply them directly to your organisation. After enrollment, you’ll receive a confirmation email. Once your course access is activated, your login details and onboarding instructions will be sent separately, ensuring a smooth and secure experience.
Module 1: Foundations of IFRS 17 - Understanding the objective and scope of IFRS 17
- Identifying insurance contracts under IFRS 17 criteria
- Exemptions and scope exclusions: which contracts are in or out
- Interaction between IFRS 17 and other standards (IFRS 9, IAS 39, IAS 1)
- The rationale behind replacing IFRS 4: key improvements and transition goals
- Effective date and transition arrangements: what you need to know now
- Overview of the three measurement models: PAA, GMM, and VFA
- Key definitions: coverage units, fulfilment cash flows, risk adjustment, CSM
- The concept of probability-weighted cash flows and time value of money
- How IFRS 17 changes profit recognition patterns compared to IFRS 4
Module 2: Contract Modification and Portfolio Accounting - Treatment of contract modifications under IFRS 17
- Identifying whether a modification creates a new contract
- How to account for additional premiums or benefit enhancements
- Portfolio aggregation: criteria and practical application
- When portfolios must be disaggregated and why it matters
- Impact of material differences in experience and risks on grouping
- How to document portfolio decisions for audit readiness
- Illustrative examples of portfolio grouping in life and non-life insurance
- Portfolios under transition: maintaining consistency
- Monitoring changes in portfolio composition over time
Module 3: Fulfilment Cash Flows (FCF) Deep Dive - Components of fulfilment cash flows: future cash flows and residual margin
- Estimating future cash inflows: premiums and investment components
- Estimating future cash outflows: claims, benefits, and expenses
- Direct vs indirect acquisition expenses: classification and capitalisation
- Probability-weighting of cash flow estimates: practical techniques
- Discounting future cash flows: selecting appropriate discount rates
- Yield curves and credit adjustments: practical selection criteria
- Impact of inflation and foreign currency on cash flow estimates
- Adjusting for the time value of money and financial risks
- Documentation requirements for actuarial cash flow models
Module 4: Risk Adjustment (RA) and Uncertainty - Purpose and definition of the risk adjustment
- Why risk adjustment exists and how it improves transparency
- Methods for determining risk adjustment: confidence level, cost of capital, variance
- Applying the cost of capital method: practical rate selection
- Calibrating confidence levels for different risk types
- Impact of diversification on risk adjustment calculations
- Linking risk adjustment to internal risk models
- Releasing risk adjustment over the coverage period
- Documentation standards for audit and regulatory compliance
- Comparing RA techniques across jurisdictions and entities
Module 5: Contractual Service Margin (CSM) Accounting - Definition and purpose of the CSM
- How the CSM replaces insurance profit reserves under IFRS 4
- Initial recognition of the CSM: mechanics and journal entries
- Recognition of CSM in profit or loss over time
- Impact of coverage units on CSM amortisation
- How to determine and revise coverage units
- Effect of experience adjustments on CSM unlocking
- CSM during loss recognition events
- CSM treatment when a group of contracts becomes onerous
- Disclosing CSM movements in financial statements
Module 6: Measurement Models: PAA, GMM, VFA - Overview of the Premium Allocation Approach (PAA)
- When PAA is permitted and its limitations
- Applying PAA for short-duration contracts
- Detailed example of PAA calculation over a two-year policy
- General Measurement Model (GMM): full scope and application
- Valuation of future cash flows under GMM
- Recognition and release of the risk adjustment under GMM
- Modifications and renewals under GMM
- Variable Fee Approach (VFA): when it applies
- Linking VFA to investment components and variable fees
- Allocation of investment components to contract holders
- Recognising variable fees in profit or loss
- Interaction between VFA and IFRS 9 financial instruments
- Treatment of direct participating contracts
- Illustrative journal entries for each model
Module 7: Accounting for Reinsurance Contracts Held - Distinguishing reinsurance from financial guarantees
- Applying IFRS 17 to reinsurance contracts held
- Measurement models applicable to reinsurance
- Transferring CSM from original contracts to reinsurance
- Accounting for ceded premiums and recoveries
- Impact of reinsurance on profit recognition timing
- Recognition of uncertainty in reinsurance cash flows
- How to reflect counterparty credit risk in reinsurance assets
- Disclosure requirements for reinsurance recoverables
- Transition challenges for existing reinsurance arrangements
Module 8: Transition to IFRS 17 - Three transition methods: full retrospective, modified, fair value
- Choosing the appropriate transition method for your entity
- Full retrospective method: data requirements and challenges
- Modified retrospective approach: practical expedients allowed
- Initial application adjustments and date of initial application
- Working paper templates for transition impact analysis
- How to document relief methods and practical expedients used
- Impact of transition on retained earnings and equity
- Disclosures required for transition under IFRS 17.98
- Bridging from IFRS 4 to IFRS 17: case studies and examples
Module 9: Disclosure Requirements and Financial Reporting - Mandatory disclosures under IFRS 17.128–135
- Reconciliation of CSM movements period over period
- Disclosure of risk exposure and risk management activities
- Information about insurance revenue, claims, and expenses
- Required breakdown of current and future service margin release
- Tabular presentation formats for regulatory submissions
- How to meet IAS 1 presentation requirements
- Linking disclosures to internal control reports
- Audit committee reporting essentials
- Preparing narrative explanations for investors and boards
- XBRL tagging and regulatory filing considerations
- Templates for board-level summary reports
- Drafting MD&A sections aligned with IFRS 17
- Quarterly vs annual disclosure depth
- Examples from public insurer filings
Module 10: Embedded Derivatives and Hybrid Contracts - How IFRS 17 interacts with IFRS 9 for embedded derivatives
- Separation criteria: host contract vs derivative
- Accounting for investment components in insurance contracts
- Variable annuities and indexed benefits: practical separation
- Accounting for guaranteed minimum benefits (GMIB, GMWB)
- Treatment of equity-linked policies
- How to measure standalone value of embedded derivatives
- Fair value measurement using market inputs
- Impact on insurance revenue and profit recognition
- Disclosure of derivative exposures in insurance portfolios
- Valuation techniques for complex guarantee structures
- Interaction between CSM and embedded derivative gains
- Journals for bifurcated contracts
- Documentation for auditor challenge readiness
- Managing volatility from derivatives in earnings
Module 11: Data and Systems Implementation - Core data requirements for IFRS 17 compliance
- Granular data points: policy start date, coverage period, payments
- Integrating actuarial models with finance systems
- Data mapping from legacy policy admin systems
- Minimum viable data set for PAA and GMM
- Handling missing or incomplete historical data
- Designing data validation and error-checking workflows
- Selecting and configuring general ledger accounts
- Integration with ERM and actuarial platforms
- Mapping CSM amortisation logic to accounting software
- Automating cash flow probability weighting
- Setting up workflows for experience adjustments
- Version control for actuarial assumptions
- Change management protocols for assumption updates
- Preparing for external data audits and inquiries
Module 12: Internal Controls and Audit Readiness - Designing internal controls specific to IFRS 17
- Segregation of duties for data, calculation, and review
- Control objectives for cash flow estimation and discounting
- Review controls over risk adjustment and CSM calculations
- Automated vs manual journal entries: control implications
- Period-end closing procedures for IFRS 17
- Preparing workpapers for external audit
- Standardising actuarial assumption documentation
- Audit trail requirements for key judgements
- Responding to auditor inquiries on model inputs
- Managing changes in estimate: how to document rationale
- Review checklist for IFRS 17 controls compliance
- Engaging internal audit for readiness assessments
- Preparing for SOX or equivalent regulatory testing
- Control self-assessment templates
Module 13: Practical Implementation Workflows - Step-by-step implementation roadmap: 30, 60, 90-day plan
- Forming the IFRS 17 cross-functional team
- Creating a master implementation timeline
- Running pilot implementations on sample portfolios
- Iterative testing of cash flow models and CSM release
- Documenting accounting policies for audit approval
- Drafting board resolutions on policy elections
- Preparing training materials for finance teams
- Running parallel runs with IFRS 4
- Analysing differences between old and new results
- Finalising data sources and control procedures
- Signing off on transition methodology
- Conducting dry runs of disclosure preparation
- Engaging external advisors effectively
- Post-implementation review checklist
Module 14: Industry-Specific Applications - IFRS 17 for life insurance: longevity, mortality, lapse assumptions
- Application to annuity products and pension buy-ins
- Life settlements and policy loans under IFRS 17
- Health insurance: estimating claims and benefit trends
- Group vs individual health contracts
- Property and casualty: short-duration contract dynamics
- Claims development patterns and IBNR under IFRS 17
- Reinsurance recoverables for large losses
- Travel and event cancellation insurance accounting
- IFRS 17 in captive insurance environments
- Microinsurance and low-margin products
- Contracts with significant investment components
- Digital-native insurers and embedded insurance
- Fronting arrangements and third-party administrators
- Accounting for parametric and index-based insurance
Module 15: Advanced Topics and Edge Cases - Contracts with redemption features and surrender values
- Determining coverage period for renewable contracts
- Refundable premiums and cancellation rights
- Contracts with unspecified coverage periods
- Multiple service providers in insurance supply chains
- Lease components within insurance contracts
- Coupled vs unbundled service components
- Termination clauses and profit-sharing arrangements
- Adjusting for onerous contract losses
- Loss component recognition and reversal
- Treatment of claims processing fees
- Accounting for inflation protection in benefits
- Determining materiality for portfolio changes
- Handling contracts nearing expiry
- Impact of regulatory changes on measurement models
- Dealing with currency-hedged insurance contracts
- Intercompany reinsurance and transfer pricing
- IFRS 17 in consolidated vs individual financial statements
- Application to mutual insurance entities
- Navigating conflicting local GAAP and IFRS 17
Module 16: Certification and Career Advancement - How to complete the final assessment for certification
- Structure of the Certificate of Completion exam
- Reviewing key concepts for mastery verification
- Accessing your digital Certificate of Completion
- Displaying your credential on LinkedIn and resumes
- How employers verify certification through The Art of Service
- Leveraging your IFRS 17 expertise in job interviews
- Joining a network of certified professionals globally
- Access to exclusive implementation templates and tools
- Using your certification to lead in-house projects
- Progress tracking tools to monitor learning milestones
- Gamified learning paths for sustained engagement
- Setting up career advancement goals post-certification
- How to position yourself as an IFRS 17 subject matter expert
- Maintaining your knowledge with future updates
- Understanding the objective and scope of IFRS 17
- Identifying insurance contracts under IFRS 17 criteria
- Exemptions and scope exclusions: which contracts are in or out
- Interaction between IFRS 17 and other standards (IFRS 9, IAS 39, IAS 1)
- The rationale behind replacing IFRS 4: key improvements and transition goals
- Effective date and transition arrangements: what you need to know now
- Overview of the three measurement models: PAA, GMM, and VFA
- Key definitions: coverage units, fulfilment cash flows, risk adjustment, CSM
- The concept of probability-weighted cash flows and time value of money
- How IFRS 17 changes profit recognition patterns compared to IFRS 4
Module 2: Contract Modification and Portfolio Accounting - Treatment of contract modifications under IFRS 17
- Identifying whether a modification creates a new contract
- How to account for additional premiums or benefit enhancements
- Portfolio aggregation: criteria and practical application
- When portfolios must be disaggregated and why it matters
- Impact of material differences in experience and risks on grouping
- How to document portfolio decisions for audit readiness
- Illustrative examples of portfolio grouping in life and non-life insurance
- Portfolios under transition: maintaining consistency
- Monitoring changes in portfolio composition over time
Module 3: Fulfilment Cash Flows (FCF) Deep Dive - Components of fulfilment cash flows: future cash flows and residual margin
- Estimating future cash inflows: premiums and investment components
- Estimating future cash outflows: claims, benefits, and expenses
- Direct vs indirect acquisition expenses: classification and capitalisation
- Probability-weighting of cash flow estimates: practical techniques
- Discounting future cash flows: selecting appropriate discount rates
- Yield curves and credit adjustments: practical selection criteria
- Impact of inflation and foreign currency on cash flow estimates
- Adjusting for the time value of money and financial risks
- Documentation requirements for actuarial cash flow models
Module 4: Risk Adjustment (RA) and Uncertainty - Purpose and definition of the risk adjustment
- Why risk adjustment exists and how it improves transparency
- Methods for determining risk adjustment: confidence level, cost of capital, variance
- Applying the cost of capital method: practical rate selection
- Calibrating confidence levels for different risk types
- Impact of diversification on risk adjustment calculations
- Linking risk adjustment to internal risk models
- Releasing risk adjustment over the coverage period
- Documentation standards for audit and regulatory compliance
- Comparing RA techniques across jurisdictions and entities
Module 5: Contractual Service Margin (CSM) Accounting - Definition and purpose of the CSM
- How the CSM replaces insurance profit reserves under IFRS 4
- Initial recognition of the CSM: mechanics and journal entries
- Recognition of CSM in profit or loss over time
- Impact of coverage units on CSM amortisation
- How to determine and revise coverage units
- Effect of experience adjustments on CSM unlocking
- CSM during loss recognition events
- CSM treatment when a group of contracts becomes onerous
- Disclosing CSM movements in financial statements
Module 6: Measurement Models: PAA, GMM, VFA - Overview of the Premium Allocation Approach (PAA)
- When PAA is permitted and its limitations
- Applying PAA for short-duration contracts
- Detailed example of PAA calculation over a two-year policy
- General Measurement Model (GMM): full scope and application
- Valuation of future cash flows under GMM
- Recognition and release of the risk adjustment under GMM
- Modifications and renewals under GMM
- Variable Fee Approach (VFA): when it applies
- Linking VFA to investment components and variable fees
- Allocation of investment components to contract holders
- Recognising variable fees in profit or loss
- Interaction between VFA and IFRS 9 financial instruments
- Treatment of direct participating contracts
- Illustrative journal entries for each model
Module 7: Accounting for Reinsurance Contracts Held - Distinguishing reinsurance from financial guarantees
- Applying IFRS 17 to reinsurance contracts held
- Measurement models applicable to reinsurance
- Transferring CSM from original contracts to reinsurance
- Accounting for ceded premiums and recoveries
- Impact of reinsurance on profit recognition timing
- Recognition of uncertainty in reinsurance cash flows
- How to reflect counterparty credit risk in reinsurance assets
- Disclosure requirements for reinsurance recoverables
- Transition challenges for existing reinsurance arrangements
Module 8: Transition to IFRS 17 - Three transition methods: full retrospective, modified, fair value
- Choosing the appropriate transition method for your entity
- Full retrospective method: data requirements and challenges
- Modified retrospective approach: practical expedients allowed
- Initial application adjustments and date of initial application
- Working paper templates for transition impact analysis
- How to document relief methods and practical expedients used
- Impact of transition on retained earnings and equity
- Disclosures required for transition under IFRS 17.98
- Bridging from IFRS 4 to IFRS 17: case studies and examples
Module 9: Disclosure Requirements and Financial Reporting - Mandatory disclosures under IFRS 17.128–135
- Reconciliation of CSM movements period over period
- Disclosure of risk exposure and risk management activities
- Information about insurance revenue, claims, and expenses
- Required breakdown of current and future service margin release
- Tabular presentation formats for regulatory submissions
- How to meet IAS 1 presentation requirements
- Linking disclosures to internal control reports
- Audit committee reporting essentials
- Preparing narrative explanations for investors and boards
- XBRL tagging and regulatory filing considerations
- Templates for board-level summary reports
- Drafting MD&A sections aligned with IFRS 17
- Quarterly vs annual disclosure depth
- Examples from public insurer filings
Module 10: Embedded Derivatives and Hybrid Contracts - How IFRS 17 interacts with IFRS 9 for embedded derivatives
- Separation criteria: host contract vs derivative
- Accounting for investment components in insurance contracts
- Variable annuities and indexed benefits: practical separation
- Accounting for guaranteed minimum benefits (GMIB, GMWB)
- Treatment of equity-linked policies
- How to measure standalone value of embedded derivatives
- Fair value measurement using market inputs
- Impact on insurance revenue and profit recognition
- Disclosure of derivative exposures in insurance portfolios
- Valuation techniques for complex guarantee structures
- Interaction between CSM and embedded derivative gains
- Journals for bifurcated contracts
- Documentation for auditor challenge readiness
- Managing volatility from derivatives in earnings
Module 11: Data and Systems Implementation - Core data requirements for IFRS 17 compliance
- Granular data points: policy start date, coverage period, payments
- Integrating actuarial models with finance systems
- Data mapping from legacy policy admin systems
- Minimum viable data set for PAA and GMM
- Handling missing or incomplete historical data
- Designing data validation and error-checking workflows
- Selecting and configuring general ledger accounts
- Integration with ERM and actuarial platforms
- Mapping CSM amortisation logic to accounting software
- Automating cash flow probability weighting
- Setting up workflows for experience adjustments
- Version control for actuarial assumptions
- Change management protocols for assumption updates
- Preparing for external data audits and inquiries
Module 12: Internal Controls and Audit Readiness - Designing internal controls specific to IFRS 17
- Segregation of duties for data, calculation, and review
- Control objectives for cash flow estimation and discounting
- Review controls over risk adjustment and CSM calculations
- Automated vs manual journal entries: control implications
- Period-end closing procedures for IFRS 17
- Preparing workpapers for external audit
- Standardising actuarial assumption documentation
- Audit trail requirements for key judgements
- Responding to auditor inquiries on model inputs
- Managing changes in estimate: how to document rationale
- Review checklist for IFRS 17 controls compliance
- Engaging internal audit for readiness assessments
- Preparing for SOX or equivalent regulatory testing
- Control self-assessment templates
Module 13: Practical Implementation Workflows - Step-by-step implementation roadmap: 30, 60, 90-day plan
- Forming the IFRS 17 cross-functional team
- Creating a master implementation timeline
- Running pilot implementations on sample portfolios
- Iterative testing of cash flow models and CSM release
- Documenting accounting policies for audit approval
- Drafting board resolutions on policy elections
- Preparing training materials for finance teams
- Running parallel runs with IFRS 4
- Analysing differences between old and new results
- Finalising data sources and control procedures
- Signing off on transition methodology
- Conducting dry runs of disclosure preparation
- Engaging external advisors effectively
- Post-implementation review checklist
Module 14: Industry-Specific Applications - IFRS 17 for life insurance: longevity, mortality, lapse assumptions
- Application to annuity products and pension buy-ins
- Life settlements and policy loans under IFRS 17
- Health insurance: estimating claims and benefit trends
- Group vs individual health contracts
- Property and casualty: short-duration contract dynamics
- Claims development patterns and IBNR under IFRS 17
- Reinsurance recoverables for large losses
- Travel and event cancellation insurance accounting
- IFRS 17 in captive insurance environments
- Microinsurance and low-margin products
- Contracts with significant investment components
- Digital-native insurers and embedded insurance
- Fronting arrangements and third-party administrators
- Accounting for parametric and index-based insurance
Module 15: Advanced Topics and Edge Cases - Contracts with redemption features and surrender values
- Determining coverage period for renewable contracts
- Refundable premiums and cancellation rights
- Contracts with unspecified coverage periods
- Multiple service providers in insurance supply chains
- Lease components within insurance contracts
- Coupled vs unbundled service components
- Termination clauses and profit-sharing arrangements
- Adjusting for onerous contract losses
- Loss component recognition and reversal
- Treatment of claims processing fees
- Accounting for inflation protection in benefits
- Determining materiality for portfolio changes
- Handling contracts nearing expiry
- Impact of regulatory changes on measurement models
- Dealing with currency-hedged insurance contracts
- Intercompany reinsurance and transfer pricing
- IFRS 17 in consolidated vs individual financial statements
- Application to mutual insurance entities
- Navigating conflicting local GAAP and IFRS 17
Module 16: Certification and Career Advancement - How to complete the final assessment for certification
- Structure of the Certificate of Completion exam
- Reviewing key concepts for mastery verification
- Accessing your digital Certificate of Completion
- Displaying your credential on LinkedIn and resumes
- How employers verify certification through The Art of Service
- Leveraging your IFRS 17 expertise in job interviews
- Joining a network of certified professionals globally
- Access to exclusive implementation templates and tools
- Using your certification to lead in-house projects
- Progress tracking tools to monitor learning milestones
- Gamified learning paths for sustained engagement
- Setting up career advancement goals post-certification
- How to position yourself as an IFRS 17 subject matter expert
- Maintaining your knowledge with future updates
- Components of fulfilment cash flows: future cash flows and residual margin
- Estimating future cash inflows: premiums and investment components
- Estimating future cash outflows: claims, benefits, and expenses
- Direct vs indirect acquisition expenses: classification and capitalisation
- Probability-weighting of cash flow estimates: practical techniques
- Discounting future cash flows: selecting appropriate discount rates
- Yield curves and credit adjustments: practical selection criteria
- Impact of inflation and foreign currency on cash flow estimates
- Adjusting for the time value of money and financial risks
- Documentation requirements for actuarial cash flow models
Module 4: Risk Adjustment (RA) and Uncertainty - Purpose and definition of the risk adjustment
- Why risk adjustment exists and how it improves transparency
- Methods for determining risk adjustment: confidence level, cost of capital, variance
- Applying the cost of capital method: practical rate selection
- Calibrating confidence levels for different risk types
- Impact of diversification on risk adjustment calculations
- Linking risk adjustment to internal risk models
- Releasing risk adjustment over the coverage period
- Documentation standards for audit and regulatory compliance
- Comparing RA techniques across jurisdictions and entities
Module 5: Contractual Service Margin (CSM) Accounting - Definition and purpose of the CSM
- How the CSM replaces insurance profit reserves under IFRS 4
- Initial recognition of the CSM: mechanics and journal entries
- Recognition of CSM in profit or loss over time
- Impact of coverage units on CSM amortisation
- How to determine and revise coverage units
- Effect of experience adjustments on CSM unlocking
- CSM during loss recognition events
- CSM treatment when a group of contracts becomes onerous
- Disclosing CSM movements in financial statements
Module 6: Measurement Models: PAA, GMM, VFA - Overview of the Premium Allocation Approach (PAA)
- When PAA is permitted and its limitations
- Applying PAA for short-duration contracts
- Detailed example of PAA calculation over a two-year policy
- General Measurement Model (GMM): full scope and application
- Valuation of future cash flows under GMM
- Recognition and release of the risk adjustment under GMM
- Modifications and renewals under GMM
- Variable Fee Approach (VFA): when it applies
- Linking VFA to investment components and variable fees
- Allocation of investment components to contract holders
- Recognising variable fees in profit or loss
- Interaction between VFA and IFRS 9 financial instruments
- Treatment of direct participating contracts
- Illustrative journal entries for each model
Module 7: Accounting for Reinsurance Contracts Held - Distinguishing reinsurance from financial guarantees
- Applying IFRS 17 to reinsurance contracts held
- Measurement models applicable to reinsurance
- Transferring CSM from original contracts to reinsurance
- Accounting for ceded premiums and recoveries
- Impact of reinsurance on profit recognition timing
- Recognition of uncertainty in reinsurance cash flows
- How to reflect counterparty credit risk in reinsurance assets
- Disclosure requirements for reinsurance recoverables
- Transition challenges for existing reinsurance arrangements
Module 8: Transition to IFRS 17 - Three transition methods: full retrospective, modified, fair value
- Choosing the appropriate transition method for your entity
- Full retrospective method: data requirements and challenges
- Modified retrospective approach: practical expedients allowed
- Initial application adjustments and date of initial application
- Working paper templates for transition impact analysis
- How to document relief methods and practical expedients used
- Impact of transition on retained earnings and equity
- Disclosures required for transition under IFRS 17.98
- Bridging from IFRS 4 to IFRS 17: case studies and examples
Module 9: Disclosure Requirements and Financial Reporting - Mandatory disclosures under IFRS 17.128–135
- Reconciliation of CSM movements period over period
- Disclosure of risk exposure and risk management activities
- Information about insurance revenue, claims, and expenses
- Required breakdown of current and future service margin release
- Tabular presentation formats for regulatory submissions
- How to meet IAS 1 presentation requirements
- Linking disclosures to internal control reports
- Audit committee reporting essentials
- Preparing narrative explanations for investors and boards
- XBRL tagging and regulatory filing considerations
- Templates for board-level summary reports
- Drafting MD&A sections aligned with IFRS 17
- Quarterly vs annual disclosure depth
- Examples from public insurer filings
Module 10: Embedded Derivatives and Hybrid Contracts - How IFRS 17 interacts with IFRS 9 for embedded derivatives
- Separation criteria: host contract vs derivative
- Accounting for investment components in insurance contracts
- Variable annuities and indexed benefits: practical separation
- Accounting for guaranteed minimum benefits (GMIB, GMWB)
- Treatment of equity-linked policies
- How to measure standalone value of embedded derivatives
- Fair value measurement using market inputs
- Impact on insurance revenue and profit recognition
- Disclosure of derivative exposures in insurance portfolios
- Valuation techniques for complex guarantee structures
- Interaction between CSM and embedded derivative gains
- Journals for bifurcated contracts
- Documentation for auditor challenge readiness
- Managing volatility from derivatives in earnings
Module 11: Data and Systems Implementation - Core data requirements for IFRS 17 compliance
- Granular data points: policy start date, coverage period, payments
- Integrating actuarial models with finance systems
- Data mapping from legacy policy admin systems
- Minimum viable data set for PAA and GMM
- Handling missing or incomplete historical data
- Designing data validation and error-checking workflows
- Selecting and configuring general ledger accounts
- Integration with ERM and actuarial platforms
- Mapping CSM amortisation logic to accounting software
- Automating cash flow probability weighting
- Setting up workflows for experience adjustments
- Version control for actuarial assumptions
- Change management protocols for assumption updates
- Preparing for external data audits and inquiries
Module 12: Internal Controls and Audit Readiness - Designing internal controls specific to IFRS 17
- Segregation of duties for data, calculation, and review
- Control objectives for cash flow estimation and discounting
- Review controls over risk adjustment and CSM calculations
- Automated vs manual journal entries: control implications
- Period-end closing procedures for IFRS 17
- Preparing workpapers for external audit
- Standardising actuarial assumption documentation
- Audit trail requirements for key judgements
- Responding to auditor inquiries on model inputs
- Managing changes in estimate: how to document rationale
- Review checklist for IFRS 17 controls compliance
- Engaging internal audit for readiness assessments
- Preparing for SOX or equivalent regulatory testing
- Control self-assessment templates
Module 13: Practical Implementation Workflows - Step-by-step implementation roadmap: 30, 60, 90-day plan
- Forming the IFRS 17 cross-functional team
- Creating a master implementation timeline
- Running pilot implementations on sample portfolios
- Iterative testing of cash flow models and CSM release
- Documenting accounting policies for audit approval
- Drafting board resolutions on policy elections
- Preparing training materials for finance teams
- Running parallel runs with IFRS 4
- Analysing differences between old and new results
- Finalising data sources and control procedures
- Signing off on transition methodology
- Conducting dry runs of disclosure preparation
- Engaging external advisors effectively
- Post-implementation review checklist
Module 14: Industry-Specific Applications - IFRS 17 for life insurance: longevity, mortality, lapse assumptions
- Application to annuity products and pension buy-ins
- Life settlements and policy loans under IFRS 17
- Health insurance: estimating claims and benefit trends
- Group vs individual health contracts
- Property and casualty: short-duration contract dynamics
- Claims development patterns and IBNR under IFRS 17
- Reinsurance recoverables for large losses
- Travel and event cancellation insurance accounting
- IFRS 17 in captive insurance environments
- Microinsurance and low-margin products
- Contracts with significant investment components
- Digital-native insurers and embedded insurance
- Fronting arrangements and third-party administrators
- Accounting for parametric and index-based insurance
Module 15: Advanced Topics and Edge Cases - Contracts with redemption features and surrender values
- Determining coverage period for renewable contracts
- Refundable premiums and cancellation rights
- Contracts with unspecified coverage periods
- Multiple service providers in insurance supply chains
- Lease components within insurance contracts
- Coupled vs unbundled service components
- Termination clauses and profit-sharing arrangements
- Adjusting for onerous contract losses
- Loss component recognition and reversal
- Treatment of claims processing fees
- Accounting for inflation protection in benefits
- Determining materiality for portfolio changes
- Handling contracts nearing expiry
- Impact of regulatory changes on measurement models
- Dealing with currency-hedged insurance contracts
- Intercompany reinsurance and transfer pricing
- IFRS 17 in consolidated vs individual financial statements
- Application to mutual insurance entities
- Navigating conflicting local GAAP and IFRS 17
Module 16: Certification and Career Advancement - How to complete the final assessment for certification
- Structure of the Certificate of Completion exam
- Reviewing key concepts for mastery verification
- Accessing your digital Certificate of Completion
- Displaying your credential on LinkedIn and resumes
- How employers verify certification through The Art of Service
- Leveraging your IFRS 17 expertise in job interviews
- Joining a network of certified professionals globally
- Access to exclusive implementation templates and tools
- Using your certification to lead in-house projects
- Progress tracking tools to monitor learning milestones
- Gamified learning paths for sustained engagement
- Setting up career advancement goals post-certification
- How to position yourself as an IFRS 17 subject matter expert
- Maintaining your knowledge with future updates
- Definition and purpose of the CSM
- How the CSM replaces insurance profit reserves under IFRS 4
- Initial recognition of the CSM: mechanics and journal entries
- Recognition of CSM in profit or loss over time
- Impact of coverage units on CSM amortisation
- How to determine and revise coverage units
- Effect of experience adjustments on CSM unlocking
- CSM during loss recognition events
- CSM treatment when a group of contracts becomes onerous
- Disclosing CSM movements in financial statements
Module 6: Measurement Models: PAA, GMM, VFA - Overview of the Premium Allocation Approach (PAA)
- When PAA is permitted and its limitations
- Applying PAA for short-duration contracts
- Detailed example of PAA calculation over a two-year policy
- General Measurement Model (GMM): full scope and application
- Valuation of future cash flows under GMM
- Recognition and release of the risk adjustment under GMM
- Modifications and renewals under GMM
- Variable Fee Approach (VFA): when it applies
- Linking VFA to investment components and variable fees
- Allocation of investment components to contract holders
- Recognising variable fees in profit or loss
- Interaction between VFA and IFRS 9 financial instruments
- Treatment of direct participating contracts
- Illustrative journal entries for each model
Module 7: Accounting for Reinsurance Contracts Held - Distinguishing reinsurance from financial guarantees
- Applying IFRS 17 to reinsurance contracts held
- Measurement models applicable to reinsurance
- Transferring CSM from original contracts to reinsurance
- Accounting for ceded premiums and recoveries
- Impact of reinsurance on profit recognition timing
- Recognition of uncertainty in reinsurance cash flows
- How to reflect counterparty credit risk in reinsurance assets
- Disclosure requirements for reinsurance recoverables
- Transition challenges for existing reinsurance arrangements
Module 8: Transition to IFRS 17 - Three transition methods: full retrospective, modified, fair value
- Choosing the appropriate transition method for your entity
- Full retrospective method: data requirements and challenges
- Modified retrospective approach: practical expedients allowed
- Initial application adjustments and date of initial application
- Working paper templates for transition impact analysis
- How to document relief methods and practical expedients used
- Impact of transition on retained earnings and equity
- Disclosures required for transition under IFRS 17.98
- Bridging from IFRS 4 to IFRS 17: case studies and examples
Module 9: Disclosure Requirements and Financial Reporting - Mandatory disclosures under IFRS 17.128–135
- Reconciliation of CSM movements period over period
- Disclosure of risk exposure and risk management activities
- Information about insurance revenue, claims, and expenses
- Required breakdown of current and future service margin release
- Tabular presentation formats for regulatory submissions
- How to meet IAS 1 presentation requirements
- Linking disclosures to internal control reports
- Audit committee reporting essentials
- Preparing narrative explanations for investors and boards
- XBRL tagging and regulatory filing considerations
- Templates for board-level summary reports
- Drafting MD&A sections aligned with IFRS 17
- Quarterly vs annual disclosure depth
- Examples from public insurer filings
Module 10: Embedded Derivatives and Hybrid Contracts - How IFRS 17 interacts with IFRS 9 for embedded derivatives
- Separation criteria: host contract vs derivative
- Accounting for investment components in insurance contracts
- Variable annuities and indexed benefits: practical separation
- Accounting for guaranteed minimum benefits (GMIB, GMWB)
- Treatment of equity-linked policies
- How to measure standalone value of embedded derivatives
- Fair value measurement using market inputs
- Impact on insurance revenue and profit recognition
- Disclosure of derivative exposures in insurance portfolios
- Valuation techniques for complex guarantee structures
- Interaction between CSM and embedded derivative gains
- Journals for bifurcated contracts
- Documentation for auditor challenge readiness
- Managing volatility from derivatives in earnings
Module 11: Data and Systems Implementation - Core data requirements for IFRS 17 compliance
- Granular data points: policy start date, coverage period, payments
- Integrating actuarial models with finance systems
- Data mapping from legacy policy admin systems
- Minimum viable data set for PAA and GMM
- Handling missing or incomplete historical data
- Designing data validation and error-checking workflows
- Selecting and configuring general ledger accounts
- Integration with ERM and actuarial platforms
- Mapping CSM amortisation logic to accounting software
- Automating cash flow probability weighting
- Setting up workflows for experience adjustments
- Version control for actuarial assumptions
- Change management protocols for assumption updates
- Preparing for external data audits and inquiries
Module 12: Internal Controls and Audit Readiness - Designing internal controls specific to IFRS 17
- Segregation of duties for data, calculation, and review
- Control objectives for cash flow estimation and discounting
- Review controls over risk adjustment and CSM calculations
- Automated vs manual journal entries: control implications
- Period-end closing procedures for IFRS 17
- Preparing workpapers for external audit
- Standardising actuarial assumption documentation
- Audit trail requirements for key judgements
- Responding to auditor inquiries on model inputs
- Managing changes in estimate: how to document rationale
- Review checklist for IFRS 17 controls compliance
- Engaging internal audit for readiness assessments
- Preparing for SOX or equivalent regulatory testing
- Control self-assessment templates
Module 13: Practical Implementation Workflows - Step-by-step implementation roadmap: 30, 60, 90-day plan
- Forming the IFRS 17 cross-functional team
- Creating a master implementation timeline
- Running pilot implementations on sample portfolios
- Iterative testing of cash flow models and CSM release
- Documenting accounting policies for audit approval
- Drafting board resolutions on policy elections
- Preparing training materials for finance teams
- Running parallel runs with IFRS 4
- Analysing differences between old and new results
- Finalising data sources and control procedures
- Signing off on transition methodology
- Conducting dry runs of disclosure preparation
- Engaging external advisors effectively
- Post-implementation review checklist
Module 14: Industry-Specific Applications - IFRS 17 for life insurance: longevity, mortality, lapse assumptions
- Application to annuity products and pension buy-ins
- Life settlements and policy loans under IFRS 17
- Health insurance: estimating claims and benefit trends
- Group vs individual health contracts
- Property and casualty: short-duration contract dynamics
- Claims development patterns and IBNR under IFRS 17
- Reinsurance recoverables for large losses
- Travel and event cancellation insurance accounting
- IFRS 17 in captive insurance environments
- Microinsurance and low-margin products
- Contracts with significant investment components
- Digital-native insurers and embedded insurance
- Fronting arrangements and third-party administrators
- Accounting for parametric and index-based insurance
Module 15: Advanced Topics and Edge Cases - Contracts with redemption features and surrender values
- Determining coverage period for renewable contracts
- Refundable premiums and cancellation rights
- Contracts with unspecified coverage periods
- Multiple service providers in insurance supply chains
- Lease components within insurance contracts
- Coupled vs unbundled service components
- Termination clauses and profit-sharing arrangements
- Adjusting for onerous contract losses
- Loss component recognition and reversal
- Treatment of claims processing fees
- Accounting for inflation protection in benefits
- Determining materiality for portfolio changes
- Handling contracts nearing expiry
- Impact of regulatory changes on measurement models
- Dealing with currency-hedged insurance contracts
- Intercompany reinsurance and transfer pricing
- IFRS 17 in consolidated vs individual financial statements
- Application to mutual insurance entities
- Navigating conflicting local GAAP and IFRS 17
Module 16: Certification and Career Advancement - How to complete the final assessment for certification
- Structure of the Certificate of Completion exam
- Reviewing key concepts for mastery verification
- Accessing your digital Certificate of Completion
- Displaying your credential on LinkedIn and resumes
- How employers verify certification through The Art of Service
- Leveraging your IFRS 17 expertise in job interviews
- Joining a network of certified professionals globally
- Access to exclusive implementation templates and tools
- Using your certification to lead in-house projects
- Progress tracking tools to monitor learning milestones
- Gamified learning paths for sustained engagement
- Setting up career advancement goals post-certification
- How to position yourself as an IFRS 17 subject matter expert
- Maintaining your knowledge with future updates
- Distinguishing reinsurance from financial guarantees
- Applying IFRS 17 to reinsurance contracts held
- Measurement models applicable to reinsurance
- Transferring CSM from original contracts to reinsurance
- Accounting for ceded premiums and recoveries
- Impact of reinsurance on profit recognition timing
- Recognition of uncertainty in reinsurance cash flows
- How to reflect counterparty credit risk in reinsurance assets
- Disclosure requirements for reinsurance recoverables
- Transition challenges for existing reinsurance arrangements
Module 8: Transition to IFRS 17 - Three transition methods: full retrospective, modified, fair value
- Choosing the appropriate transition method for your entity
- Full retrospective method: data requirements and challenges
- Modified retrospective approach: practical expedients allowed
- Initial application adjustments and date of initial application
- Working paper templates for transition impact analysis
- How to document relief methods and practical expedients used
- Impact of transition on retained earnings and equity
- Disclosures required for transition under IFRS 17.98
- Bridging from IFRS 4 to IFRS 17: case studies and examples
Module 9: Disclosure Requirements and Financial Reporting - Mandatory disclosures under IFRS 17.128–135
- Reconciliation of CSM movements period over period
- Disclosure of risk exposure and risk management activities
- Information about insurance revenue, claims, and expenses
- Required breakdown of current and future service margin release
- Tabular presentation formats for regulatory submissions
- How to meet IAS 1 presentation requirements
- Linking disclosures to internal control reports
- Audit committee reporting essentials
- Preparing narrative explanations for investors and boards
- XBRL tagging and regulatory filing considerations
- Templates for board-level summary reports
- Drafting MD&A sections aligned with IFRS 17
- Quarterly vs annual disclosure depth
- Examples from public insurer filings
Module 10: Embedded Derivatives and Hybrid Contracts - How IFRS 17 interacts with IFRS 9 for embedded derivatives
- Separation criteria: host contract vs derivative
- Accounting for investment components in insurance contracts
- Variable annuities and indexed benefits: practical separation
- Accounting for guaranteed minimum benefits (GMIB, GMWB)
- Treatment of equity-linked policies
- How to measure standalone value of embedded derivatives
- Fair value measurement using market inputs
- Impact on insurance revenue and profit recognition
- Disclosure of derivative exposures in insurance portfolios
- Valuation techniques for complex guarantee structures
- Interaction between CSM and embedded derivative gains
- Journals for bifurcated contracts
- Documentation for auditor challenge readiness
- Managing volatility from derivatives in earnings
Module 11: Data and Systems Implementation - Core data requirements for IFRS 17 compliance
- Granular data points: policy start date, coverage period, payments
- Integrating actuarial models with finance systems
- Data mapping from legacy policy admin systems
- Minimum viable data set for PAA and GMM
- Handling missing or incomplete historical data
- Designing data validation and error-checking workflows
- Selecting and configuring general ledger accounts
- Integration with ERM and actuarial platforms
- Mapping CSM amortisation logic to accounting software
- Automating cash flow probability weighting
- Setting up workflows for experience adjustments
- Version control for actuarial assumptions
- Change management protocols for assumption updates
- Preparing for external data audits and inquiries
Module 12: Internal Controls and Audit Readiness - Designing internal controls specific to IFRS 17
- Segregation of duties for data, calculation, and review
- Control objectives for cash flow estimation and discounting
- Review controls over risk adjustment and CSM calculations
- Automated vs manual journal entries: control implications
- Period-end closing procedures for IFRS 17
- Preparing workpapers for external audit
- Standardising actuarial assumption documentation
- Audit trail requirements for key judgements
- Responding to auditor inquiries on model inputs
- Managing changes in estimate: how to document rationale
- Review checklist for IFRS 17 controls compliance
- Engaging internal audit for readiness assessments
- Preparing for SOX or equivalent regulatory testing
- Control self-assessment templates
Module 13: Practical Implementation Workflows - Step-by-step implementation roadmap: 30, 60, 90-day plan
- Forming the IFRS 17 cross-functional team
- Creating a master implementation timeline
- Running pilot implementations on sample portfolios
- Iterative testing of cash flow models and CSM release
- Documenting accounting policies for audit approval
- Drafting board resolutions on policy elections
- Preparing training materials for finance teams
- Running parallel runs with IFRS 4
- Analysing differences between old and new results
- Finalising data sources and control procedures
- Signing off on transition methodology
- Conducting dry runs of disclosure preparation
- Engaging external advisors effectively
- Post-implementation review checklist
Module 14: Industry-Specific Applications - IFRS 17 for life insurance: longevity, mortality, lapse assumptions
- Application to annuity products and pension buy-ins
- Life settlements and policy loans under IFRS 17
- Health insurance: estimating claims and benefit trends
- Group vs individual health contracts
- Property and casualty: short-duration contract dynamics
- Claims development patterns and IBNR under IFRS 17
- Reinsurance recoverables for large losses
- Travel and event cancellation insurance accounting
- IFRS 17 in captive insurance environments
- Microinsurance and low-margin products
- Contracts with significant investment components
- Digital-native insurers and embedded insurance
- Fronting arrangements and third-party administrators
- Accounting for parametric and index-based insurance
Module 15: Advanced Topics and Edge Cases - Contracts with redemption features and surrender values
- Determining coverage period for renewable contracts
- Refundable premiums and cancellation rights
- Contracts with unspecified coverage periods
- Multiple service providers in insurance supply chains
- Lease components within insurance contracts
- Coupled vs unbundled service components
- Termination clauses and profit-sharing arrangements
- Adjusting for onerous contract losses
- Loss component recognition and reversal
- Treatment of claims processing fees
- Accounting for inflation protection in benefits
- Determining materiality for portfolio changes
- Handling contracts nearing expiry
- Impact of regulatory changes on measurement models
- Dealing with currency-hedged insurance contracts
- Intercompany reinsurance and transfer pricing
- IFRS 17 in consolidated vs individual financial statements
- Application to mutual insurance entities
- Navigating conflicting local GAAP and IFRS 17
Module 16: Certification and Career Advancement - How to complete the final assessment for certification
- Structure of the Certificate of Completion exam
- Reviewing key concepts for mastery verification
- Accessing your digital Certificate of Completion
- Displaying your credential on LinkedIn and resumes
- How employers verify certification through The Art of Service
- Leveraging your IFRS 17 expertise in job interviews
- Joining a network of certified professionals globally
- Access to exclusive implementation templates and tools
- Using your certification to lead in-house projects
- Progress tracking tools to monitor learning milestones
- Gamified learning paths for sustained engagement
- Setting up career advancement goals post-certification
- How to position yourself as an IFRS 17 subject matter expert
- Maintaining your knowledge with future updates
- Mandatory disclosures under IFRS 17.128–135
- Reconciliation of CSM movements period over period
- Disclosure of risk exposure and risk management activities
- Information about insurance revenue, claims, and expenses
- Required breakdown of current and future service margin release
- Tabular presentation formats for regulatory submissions
- How to meet IAS 1 presentation requirements
- Linking disclosures to internal control reports
- Audit committee reporting essentials
- Preparing narrative explanations for investors and boards
- XBRL tagging and regulatory filing considerations
- Templates for board-level summary reports
- Drafting MD&A sections aligned with IFRS 17
- Quarterly vs annual disclosure depth
- Examples from public insurer filings
Module 10: Embedded Derivatives and Hybrid Contracts - How IFRS 17 interacts with IFRS 9 for embedded derivatives
- Separation criteria: host contract vs derivative
- Accounting for investment components in insurance contracts
- Variable annuities and indexed benefits: practical separation
- Accounting for guaranteed minimum benefits (GMIB, GMWB)
- Treatment of equity-linked policies
- How to measure standalone value of embedded derivatives
- Fair value measurement using market inputs
- Impact on insurance revenue and profit recognition
- Disclosure of derivative exposures in insurance portfolios
- Valuation techniques for complex guarantee structures
- Interaction between CSM and embedded derivative gains
- Journals for bifurcated contracts
- Documentation for auditor challenge readiness
- Managing volatility from derivatives in earnings
Module 11: Data and Systems Implementation - Core data requirements for IFRS 17 compliance
- Granular data points: policy start date, coverage period, payments
- Integrating actuarial models with finance systems
- Data mapping from legacy policy admin systems
- Minimum viable data set for PAA and GMM
- Handling missing or incomplete historical data
- Designing data validation and error-checking workflows
- Selecting and configuring general ledger accounts
- Integration with ERM and actuarial platforms
- Mapping CSM amortisation logic to accounting software
- Automating cash flow probability weighting
- Setting up workflows for experience adjustments
- Version control for actuarial assumptions
- Change management protocols for assumption updates
- Preparing for external data audits and inquiries
Module 12: Internal Controls and Audit Readiness - Designing internal controls specific to IFRS 17
- Segregation of duties for data, calculation, and review
- Control objectives for cash flow estimation and discounting
- Review controls over risk adjustment and CSM calculations
- Automated vs manual journal entries: control implications
- Period-end closing procedures for IFRS 17
- Preparing workpapers for external audit
- Standardising actuarial assumption documentation
- Audit trail requirements for key judgements
- Responding to auditor inquiries on model inputs
- Managing changes in estimate: how to document rationale
- Review checklist for IFRS 17 controls compliance
- Engaging internal audit for readiness assessments
- Preparing for SOX or equivalent regulatory testing
- Control self-assessment templates
Module 13: Practical Implementation Workflows - Step-by-step implementation roadmap: 30, 60, 90-day plan
- Forming the IFRS 17 cross-functional team
- Creating a master implementation timeline
- Running pilot implementations on sample portfolios
- Iterative testing of cash flow models and CSM release
- Documenting accounting policies for audit approval
- Drafting board resolutions on policy elections
- Preparing training materials for finance teams
- Running parallel runs with IFRS 4
- Analysing differences between old and new results
- Finalising data sources and control procedures
- Signing off on transition methodology
- Conducting dry runs of disclosure preparation
- Engaging external advisors effectively
- Post-implementation review checklist
Module 14: Industry-Specific Applications - IFRS 17 for life insurance: longevity, mortality, lapse assumptions
- Application to annuity products and pension buy-ins
- Life settlements and policy loans under IFRS 17
- Health insurance: estimating claims and benefit trends
- Group vs individual health contracts
- Property and casualty: short-duration contract dynamics
- Claims development patterns and IBNR under IFRS 17
- Reinsurance recoverables for large losses
- Travel and event cancellation insurance accounting
- IFRS 17 in captive insurance environments
- Microinsurance and low-margin products
- Contracts with significant investment components
- Digital-native insurers and embedded insurance
- Fronting arrangements and third-party administrators
- Accounting for parametric and index-based insurance
Module 15: Advanced Topics and Edge Cases - Contracts with redemption features and surrender values
- Determining coverage period for renewable contracts
- Refundable premiums and cancellation rights
- Contracts with unspecified coverage periods
- Multiple service providers in insurance supply chains
- Lease components within insurance contracts
- Coupled vs unbundled service components
- Termination clauses and profit-sharing arrangements
- Adjusting for onerous contract losses
- Loss component recognition and reversal
- Treatment of claims processing fees
- Accounting for inflation protection in benefits
- Determining materiality for portfolio changes
- Handling contracts nearing expiry
- Impact of regulatory changes on measurement models
- Dealing with currency-hedged insurance contracts
- Intercompany reinsurance and transfer pricing
- IFRS 17 in consolidated vs individual financial statements
- Application to mutual insurance entities
- Navigating conflicting local GAAP and IFRS 17
Module 16: Certification and Career Advancement - How to complete the final assessment for certification
- Structure of the Certificate of Completion exam
- Reviewing key concepts for mastery verification
- Accessing your digital Certificate of Completion
- Displaying your credential on LinkedIn and resumes
- How employers verify certification through The Art of Service
- Leveraging your IFRS 17 expertise in job interviews
- Joining a network of certified professionals globally
- Access to exclusive implementation templates and tools
- Using your certification to lead in-house projects
- Progress tracking tools to monitor learning milestones
- Gamified learning paths for sustained engagement
- Setting up career advancement goals post-certification
- How to position yourself as an IFRS 17 subject matter expert
- Maintaining your knowledge with future updates
- Core data requirements for IFRS 17 compliance
- Granular data points: policy start date, coverage period, payments
- Integrating actuarial models with finance systems
- Data mapping from legacy policy admin systems
- Minimum viable data set for PAA and GMM
- Handling missing or incomplete historical data
- Designing data validation and error-checking workflows
- Selecting and configuring general ledger accounts
- Integration with ERM and actuarial platforms
- Mapping CSM amortisation logic to accounting software
- Automating cash flow probability weighting
- Setting up workflows for experience adjustments
- Version control for actuarial assumptions
- Change management protocols for assumption updates
- Preparing for external data audits and inquiries
Module 12: Internal Controls and Audit Readiness - Designing internal controls specific to IFRS 17
- Segregation of duties for data, calculation, and review
- Control objectives for cash flow estimation and discounting
- Review controls over risk adjustment and CSM calculations
- Automated vs manual journal entries: control implications
- Period-end closing procedures for IFRS 17
- Preparing workpapers for external audit
- Standardising actuarial assumption documentation
- Audit trail requirements for key judgements
- Responding to auditor inquiries on model inputs
- Managing changes in estimate: how to document rationale
- Review checklist for IFRS 17 controls compliance
- Engaging internal audit for readiness assessments
- Preparing for SOX or equivalent regulatory testing
- Control self-assessment templates
Module 13: Practical Implementation Workflows - Step-by-step implementation roadmap: 30, 60, 90-day plan
- Forming the IFRS 17 cross-functional team
- Creating a master implementation timeline
- Running pilot implementations on sample portfolios
- Iterative testing of cash flow models and CSM release
- Documenting accounting policies for audit approval
- Drafting board resolutions on policy elections
- Preparing training materials for finance teams
- Running parallel runs with IFRS 4
- Analysing differences between old and new results
- Finalising data sources and control procedures
- Signing off on transition methodology
- Conducting dry runs of disclosure preparation
- Engaging external advisors effectively
- Post-implementation review checklist
Module 14: Industry-Specific Applications - IFRS 17 for life insurance: longevity, mortality, lapse assumptions
- Application to annuity products and pension buy-ins
- Life settlements and policy loans under IFRS 17
- Health insurance: estimating claims and benefit trends
- Group vs individual health contracts
- Property and casualty: short-duration contract dynamics
- Claims development patterns and IBNR under IFRS 17
- Reinsurance recoverables for large losses
- Travel and event cancellation insurance accounting
- IFRS 17 in captive insurance environments
- Microinsurance and low-margin products
- Contracts with significant investment components
- Digital-native insurers and embedded insurance
- Fronting arrangements and third-party administrators
- Accounting for parametric and index-based insurance
Module 15: Advanced Topics and Edge Cases - Contracts with redemption features and surrender values
- Determining coverage period for renewable contracts
- Refundable premiums and cancellation rights
- Contracts with unspecified coverage periods
- Multiple service providers in insurance supply chains
- Lease components within insurance contracts
- Coupled vs unbundled service components
- Termination clauses and profit-sharing arrangements
- Adjusting for onerous contract losses
- Loss component recognition and reversal
- Treatment of claims processing fees
- Accounting for inflation protection in benefits
- Determining materiality for portfolio changes
- Handling contracts nearing expiry
- Impact of regulatory changes on measurement models
- Dealing with currency-hedged insurance contracts
- Intercompany reinsurance and transfer pricing
- IFRS 17 in consolidated vs individual financial statements
- Application to mutual insurance entities
- Navigating conflicting local GAAP and IFRS 17
Module 16: Certification and Career Advancement - How to complete the final assessment for certification
- Structure of the Certificate of Completion exam
- Reviewing key concepts for mastery verification
- Accessing your digital Certificate of Completion
- Displaying your credential on LinkedIn and resumes
- How employers verify certification through The Art of Service
- Leveraging your IFRS 17 expertise in job interviews
- Joining a network of certified professionals globally
- Access to exclusive implementation templates and tools
- Using your certification to lead in-house projects
- Progress tracking tools to monitor learning milestones
- Gamified learning paths for sustained engagement
- Setting up career advancement goals post-certification
- How to position yourself as an IFRS 17 subject matter expert
- Maintaining your knowledge with future updates
- Step-by-step implementation roadmap: 30, 60, 90-day plan
- Forming the IFRS 17 cross-functional team
- Creating a master implementation timeline
- Running pilot implementations on sample portfolios
- Iterative testing of cash flow models and CSM release
- Documenting accounting policies for audit approval
- Drafting board resolutions on policy elections
- Preparing training materials for finance teams
- Running parallel runs with IFRS 4
- Analysing differences between old and new results
- Finalising data sources and control procedures
- Signing off on transition methodology
- Conducting dry runs of disclosure preparation
- Engaging external advisors effectively
- Post-implementation review checklist
Module 14: Industry-Specific Applications - IFRS 17 for life insurance: longevity, mortality, lapse assumptions
- Application to annuity products and pension buy-ins
- Life settlements and policy loans under IFRS 17
- Health insurance: estimating claims and benefit trends
- Group vs individual health contracts
- Property and casualty: short-duration contract dynamics
- Claims development patterns and IBNR under IFRS 17
- Reinsurance recoverables for large losses
- Travel and event cancellation insurance accounting
- IFRS 17 in captive insurance environments
- Microinsurance and low-margin products
- Contracts with significant investment components
- Digital-native insurers and embedded insurance
- Fronting arrangements and third-party administrators
- Accounting for parametric and index-based insurance
Module 15: Advanced Topics and Edge Cases - Contracts with redemption features and surrender values
- Determining coverage period for renewable contracts
- Refundable premiums and cancellation rights
- Contracts with unspecified coverage periods
- Multiple service providers in insurance supply chains
- Lease components within insurance contracts
- Coupled vs unbundled service components
- Termination clauses and profit-sharing arrangements
- Adjusting for onerous contract losses
- Loss component recognition and reversal
- Treatment of claims processing fees
- Accounting for inflation protection in benefits
- Determining materiality for portfolio changes
- Handling contracts nearing expiry
- Impact of regulatory changes on measurement models
- Dealing with currency-hedged insurance contracts
- Intercompany reinsurance and transfer pricing
- IFRS 17 in consolidated vs individual financial statements
- Application to mutual insurance entities
- Navigating conflicting local GAAP and IFRS 17
Module 16: Certification and Career Advancement - How to complete the final assessment for certification
- Structure of the Certificate of Completion exam
- Reviewing key concepts for mastery verification
- Accessing your digital Certificate of Completion
- Displaying your credential on LinkedIn and resumes
- How employers verify certification through The Art of Service
- Leveraging your IFRS 17 expertise in job interviews
- Joining a network of certified professionals globally
- Access to exclusive implementation templates and tools
- Using your certification to lead in-house projects
- Progress tracking tools to monitor learning milestones
- Gamified learning paths for sustained engagement
- Setting up career advancement goals post-certification
- How to position yourself as an IFRS 17 subject matter expert
- Maintaining your knowledge with future updates
- Contracts with redemption features and surrender values
- Determining coverage period for renewable contracts
- Refundable premiums and cancellation rights
- Contracts with unspecified coverage periods
- Multiple service providers in insurance supply chains
- Lease components within insurance contracts
- Coupled vs unbundled service components
- Termination clauses and profit-sharing arrangements
- Adjusting for onerous contract losses
- Loss component recognition and reversal
- Treatment of claims processing fees
- Accounting for inflation protection in benefits
- Determining materiality for portfolio changes
- Handling contracts nearing expiry
- Impact of regulatory changes on measurement models
- Dealing with currency-hedged insurance contracts
- Intercompany reinsurance and transfer pricing
- IFRS 17 in consolidated vs individual financial statements
- Application to mutual insurance entities
- Navigating conflicting local GAAP and IFRS 17