Moody’s Analytics has added new accounting and reinsurance capabilities to its Risklntegrity™ IFRS 17 solution. The latest enhancements to its accounting functions include the introduction of a Moody's Analytics chart of accounts, end-to-end accounting logic, and mapping from an insurer's accounts to the disclosures of insurance contracts under IFRS 17.
Because the Risklntegrity IFRS 17 solution delivers these and other essential accounting capabilities, insurers may populate the chart of accounts and then generate journal entries to allow for a comprehensive movement analysis and a liability reconciliation analysis.
Insurers can now also use the Risklntegrity IFRS 17 solution to seamlessly capture the measurement of reinsurance contracts held under the new standard, viewing the results through our out-of-the-box financial reports.
"These enhancements to our IFRS 17 solution grew out of feedback from implementation projects with our clients," said Anna Robert, IFRS 17 Product Management at Moody's Analytics. "Our vision is to help insurers effectively manage, accelerate, and deliver their IFRS 17 projects. Central to achieving that is our ability to listen to and support our clients, and to provide the software they need to implement IFRS 17 successfully."
