Aptitude named category leader in Chartis RiskTech Quadrant® for IFRS 17/LDTI Compliance: Accounting Systems, 2022

Aptitude Software, specialist provider of finance transformation and automation software, has been named category leader in the Chartis RiskTech Quadrant^®for IFRS 17/LDTI Compliance: Accounting Systems, 2022. Aptitude also recently won the IFRS 17 – Accounting Systems category award in the recent Chartis Research 2022 RiskTech100^® Report.

Apra Sekhon, Chief Innovation Officer, CAA Club Group remarks, ‘IFRS 17 is the most complex standard to hit the industry so it’s great to see our chosen vendor, Aptitude, recognized as a leader in the space. We selected the Aptitude IFRS 17 Solution in 2020 due to the strength of references, the completeness of the offering and the specialist nature and focus of their organization. We are very pleased with how the project has progressed.’

Jeremy Suddards, Aptitude CEO comments, ‘The IFRS 17 standard touches almost every aspect of an Insurer’s business. We are pleased that Chartis Research has recognized the fact that the Aptitude IFRS 17 Solution addresses the many requirements of the standard including the complexity of calculations, the need to centralize finance and actuarial data and out-of-the-box accounting templates to speed implementation and reduce risk, all while allowing Insurers to build a foundation for finance transformation.’

‘Aptitude Software is a category leader in Chartis’ RiskTech Quadrant for IFRS 17 Accounting Systems for 2022’, said Sidhartha Dash, Research Director at Chartis. ‘This reflects its strong capabilities in the key structural components of sophisticated accounting systems, including general ledger integration, multi-standard support and subledger functionality.’

Aptitude’s IFRS 17 Solution is the most mature solution on the market and is the solution of choice for many insurers across the globe including FWD, Aviva, PALIG, CAA, and many others. Differentiators include over 20 years of built-in, insurance-specific IP – calculations, business events, processes, and templated disclosures – which accelerate and derisk the implementation process. Aptitude IFRS 17 Comply is a simplified, pre-configured version of the Aptitude IFRS 17 Solution, designed for Insurers that are looking for a faster, more standardized path to IFRS 17 compliance while laying the foundation for future transformation projects. Aptitude IFRS 17 Comply clients include wefox, Guardrisk, and Hollard Insurance Company.