Webinar "IFRS 9: Challenges and Solution Approaches for insurance companies"

Friday, September 22nd, 2:00-3:00 PM (MEZ)

Due to the decision by IASB on September 12th 2016 the IFRS 9 standard will be obligatory applied by insurance companies for annual periods beginning on or after January 1st 2021 at the latest (exceptions due to „overlay” and „deferral“ approach apply).

According to zeb's experience in IFRS 9 projects, it is recommended to start with the impact analysis of IFRS 9 and especially the assessment of significant implementation challenges at early stage, in order to have sufficient time buffer and to avoid intense time pressure due to the short period until the new accounting standard becomes effective.
Therefore, we are happy to offer you the webinar "IFRS 9: Challenges and Solution Approaches for insurance companies". Selected challenges of the implementation of IFRS 9 phases I and II will be discussed along with the presentation of practical implementation examples and corresponding solution approaches:

• The assessment of new classification requirements and application on specific portfolios requires detailed documentation of business models, regarding i.a. governance, risk management and remuneration practices. Furthermore, performing SPPI-testing can lead to time consuming and complex assessments of critical contractual features, which had only minor relevance under IAS 39.

• The adapted impairment requirements will affect especially capital investments (bonds, funds, etc.) and loans, leading to complex staging and measurement challenges and most likely increased LLP especially at first time application. Specific impact is expected on current AfS-assets, as these will be in scope of general impairment requirements under IFRS 9. Based on our well-received zeb.control.impairment solution, we will show you how to cope with the complex IFRS 9 expected credit loss measurement and stage determination requirements with a modern, user-friendly software component.

• Moreover, we would like to end the webinar with a short outlook of the next activities insurance companies will have to face in the aftermath of the IFRS 9 implementation to harmonize the risk & finance view under the impact of IFRS 9.

zeb provides a comprehensive overview of the topic and shares best-practice-approaches from several reference projects with you. In doing so we present the approaches with the zeb.control.accounting solution, which has been proven in several projects or pre-studies.

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