IFRS 17 Insurance Contracts – Practical Implementation

Introduction

IFRS 17 Insurance Contracts – Practical Implementation is a comprehensive training program designed to equip finance professionals, auditors, actuaries, and insurance specialists with the practical knowledge required to confidently implement IFRS 17 across various organizational models. The standard introduces a transformative approach to insurance contract measurement, requiring a deep understanding of the general measurement model, premium allocation approach, variable fee approach, and contractual service margin. This course provides a structured and clear pathway for interpreting the standard’s technical requirements while linking them directly to real-world implementation challenges. Participants will learn how to analyze data requirements, assess system capabilities, design reporting structures, and collaborate effectively with multidisciplinary teams to ensure compliance and operational excellence. Through interactive learning, applied case studies, and guided exercises, trainees gain the capability to translate theoretical principles into practical solutions. The program is designed to develop long-term skills that empower professionals to navigate complexities, enhance decision-making, and support sustainable financial reporting aligned with IFRS 17.

Course Objectives

• Understand the core principles and structure of IFRS 17

• Apply measurement models: GMM, PAA, and VFA

• Analyze data and system requirements for IFRS 17 implementation

• Identify the components of the contractual service margin

• Interpret disclosure and presentation requirements

• Integrate actuarial and accounting perspectives seamlessly

• Evaluate implementation challenges and propose solutions

• Develop practical reporting templates aligned with the standard

• Strengthen financial analysis and decision-making under IFRS 17

TARGET AUDIENCE

• Finance professionals

• Internal auditors and external auditors

• Actuaries and risk specialists

• Insurance operations managers

• Financial reporting teams

• Compliance and regulatory officers

Benefits for the Organization

• Strengthened compliance with IFRS 17 reporting requirements

• Improved financial transparency and credibility

• Enhanced collaboration between actuarial and finance departments

• Reduced implementation risks and operational errors

• More accurate forecasting and long-term planning

• Improved decision-making supported by standardized reporting

Benefits for the Trainee

• Practical knowledge of IFRS 17 models and applications

• Improved analytical and reporting skills

• Confidence in handling complex measurement requirements

• Ability to interpret financial results under IFRS 17

• Enhanced collaboration skills in cross-functional teams

• Better career growth in finance, insurance, and reporting fields

Course Outline

Day 1: Understanding the IFRS 17 Framework

• Overview of IFRS 17 objectives and scope

• Key definitions and components of insurance contracts

• Comparison of IFRS 17 and previous standards

• Introduction to measurement models

Day 2: Measurement Models and CSM

• General Measurement Model (GMM)

• Premium Allocation Approach (PAA)

• Variable Fee Approach (VFA)

• Understanding and calculating the Contractual Service Margin (CSM)

Day 3: Data Requirements and Systems

• Data collection and validation

• System configuration and integration challenges

• Practical exercises on data modeling under IFRS 17

• Linking actuarial and accounting data streams

Day 4: Reporting, Disclosures, and Presentation

• IFRS 17 reporting structure

• Required disclosures and financial statement impacts

• Designing compliant reporting templates

• Practical case studies and examples

Day 5: Implementation Challenges and Practical Solutions

• Common implementation pitfalls

• Internal controls and governance considerations

• Real-world examples of IFRS 17 adoption

• Final group exercise and assessment

Course Duration

Duration: 5 days

Format: Classroom / Online / Blended

Instructor Information

The training will be delivered by a team of experts specialized in negotiation and professional relationships. They have extensive practical experience in managing complex negotiations, as well as a strong record in delivering leadership and management development programs.

Conclusion

This program offers a complete, practical, and strategic understanding of IFRS 17, enabling both individuals and organizations to enhance financial reporting, improve performance, and adopt the standard with confidence. Through hands-on learning and expert guidance, participants emerge equipped to navigate the complexities of modern insurance reporting and contribute to long-term organizational success.