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June 15 2023

Liza Richardson – IFRS 17

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We had a chat with Liza Richardson, VP, Solutions – Finance Transformation at Aptitude Software Limited, who elucidates the beneficiaries derived from regulations such as IFRS 17.

“IFRS 17 is purely for insurers and trying to align the way they recognise their revenue so that it’s the same as everyone else.”

“17 has really driven a change, because you’ve not been able to take your numbers in a more aggregated form, which is traditionally what the insurers have done … They’ve not needed to do any accounting from the actuarial system, they’re just given a provision from the actuaries, and do the provision. That’s really changed, because they now need to evaluate at a policy level, or a group of policy levels, whether something is profitable or not based on what those projected cash flows are.”

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  1. Juniper Research: Digital Identity Verification Checks to Pass the 70 Billion Mark in 2024, as Businesses Prioritise Fraud Prevention

    Fintech

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  2. Pie Insurance Appoints Audra Foglietta as Chief Financial Officer

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  3. Triterras Announces the Appointment of Vinay Kapoor to Executive Vice President

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  4. Exchange Bank Taps Pidgin to Provide Real-Time Payment Options for Customers

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  5. Kroll Launches Detection and Response Maturity Model and Finds 91% of Businesses Overestimate Their Cyber Maturity, Increasing Their Vulnerability to Cyberattacks

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