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Pan American Life Insurance Group selects Aptitude IFRS 17 solution | Fintech Finance

November 17 2020

Pan American Life Insurance Group selects Aptitude IFRS 17 solution

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Aptitude Software is delighted to announce that Pan-American Life Insurance Group (PALIG) has selected the Aptitude IFRS 17 Solution, deployed as SaaS, to drive compliance with the IFRS 17 standard across their entities in the Americas. 

PALIG is a leading provider of life, accident and health insurance. The group serves millions of customers in 22 countries across the Americas and employs 2,100 people. The company selected Aptitude’s solution based on its out-of-the-box nature which includes templates and accelerators to reduce the cost and resources associated with implementation. The solution’s flexibility and easy integration with third party solutions were also strong factors. 

PALIG Group Controller, Alvaro Muñoz commented, “The implementation of the Aptitude IFRS 17 Solution will ensure we are able to comply with IFRS 17 which is key for doing business in the regions we operate. We also believe it will position us to continue to build on our broader finance transformation journey.” 

Alex Curran, Aptitude EVP NA, states, “Aptitude continues to be the solution of choice for organizations that recognize the value of a specialist finance solution and expert resources to help them address the complexities of the IFRS 17 standard and add value beyond compliance. We are thrilled to add Pan-American Life Insurance Group to our client community.” 

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. Differentiators include over 20 years of built-in, insurance specific IP – calculations, business events, processes, and templated disclosures – which accelerate and de-risk the implementation process. 

Recently, Aptitude Software was named a Category Leader in the Insurance Risk Systems for IFRS 17 and LDTI Compliance, 2020: Market Update and Vendor Landscape, a Chartis Research report that assesses leading vendors of IFRS 17 and LDTI solutions. 

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