General Insurance Article - Actuarial modernization in light of IFRS 17 and Covid


RNA Analytics have launched a new report entitled ‘The Modernization of the Actuarial Function’.

 The report subjectively reviews and analyses the current challenges the industry faces, and discusses how best to mitigate disruption. It also demonstrates how customers can save cost, streamline operations and identify new opportunities, despite the current and upcoming disruptions to the market, through embracing technology and collaboration.
 
 With the implementation of IFRS 17 looming, organizations around the world are preparing for new regulations and rules which impact actuarial, finance and risk management work daily. With the added difficulties posed by the ongoing health crisis of Covid-19, the sector has also had to face unprecedented challenges in carrying out projects remotely, calling on innovative technology more so than ever before.
 
 From risk modeling to legacy software, consultation and implementation, the report, The Modernization of the Actuarial Function explores how best to prepare for the coming challenges through harnessing revolutionary technologies. It also discusses the growing importance of expert consultancy and bespoke structured data modeling solutions that ensure greater efficiency, productivity and scalability, to allow insurers and risk managers alike to focus on complex actuarial analysis with increased accuracy and profitability.
 
 “2020 has been a challenging year for every single industry, however, the actuarial sector has been able to utilize these hurdles as a means of demonstrating its true value and potential” said Vicky Daniels, Marketing Director at RNA Analytics. “Through technological advances, collaborative work and innovative new systems, RNA has been able to continue supporting its customers across the globe. This report shares insights from our expert consultants, resulting in a comprehensive and diverse range of forward-thinking solutions to the challenges the sector is currently facing.”
 
 To download a complimentary copy of the report, The Modernization of the Actuarial Function

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