After leading the marketplace with the first seller sale of an IFRS 17 software program solution, the Aptitude Insurance Calculation Engine (AICE) celebrates the cease of a busy and successful first year.
Aptitude’s IFRS 17 Solution, that’s made of AICE and the effective and IP rich Aptitude Accounting Hub, now has 8 primary coverage clients across 3 continents.
The solution continues to enchantment to insurers seeking out a strategic and complete finance solution. Part of the fee presented is within the mission accelerators built into the mounted and ‘out of the field’ nature of the accounting hub and sub-ledger. These accelerators, not handiest speed up implementations but additionally reduce threat and power benefits beyond compliance. Aptitude’s mounted Centre of Excellence is usually shooting fine practices from the classes gleaned from worldwide implementations accomplished with a widespread companion community.
“Over the last 12 months it’s been our satisfaction to work along a number of the largest insurers within the world to assist them to follow IFRS 17 in a way that minimizes disruption, lets in them to give an explanation for adjustments in key KPIs and positions them for destiny alternate,” states Chief Product and Marketing Officer, Chris Wade. “We are seeing no slowdown in insurers’ choice to cope with IFRS 17 as successfully and successfully as viable.”
The Aptitude IFRS 17 answer is constantly evolving to hold pace with new requirements as they emerge. To have fun the only-yr anniversary, the solution has been updated with new improvements that help FX, VFA and reinsurance. Additionally, new technology riding the UI, scheduler, safety, and reporting will give insurers an extra field of vision of reporting.
“The new enhancements we’ve got made to the product will help insurers control the complexity in their portfolio by supplying the greater depth of functionality across each of the three dimension fashions and give them greater powerful equipment to apprehend and visualize the impact of the brand new law on their monetary outcomes,” states Wade.
Altitude Software is a finance software company. In addition to a packaged way to cope with IFRS 17, they offer solutions for hire accounting compliance (IFRS sixteen / ASC 842), revenue reputation (IFRS 15 / ASC 606) and Targeted Improvements to the Accounting for Long-Duration Contracts (LDTI).
About Aptitude Software
Aptitude Software provides finance software program to the world’s biggest corporations. It combines economic accounting know-how and specialist regulatory information to create industry main finance software. Aptitude Software supports corporations with combined sales drawing near $1 trillion and over 500 million end clients. Headquartered in London, Aptitude Software Ltd is a running corporation of Aptitude Software Group p.C.