The impact of IFRS 17 (Insurance Contracts) on the insurance industry
Table Of Contents
<p>1. Introduction<br> 1.1 Background<br> 1.2 Research Objectives<br> 1.3 Research Questions<br> 1.4 Significance of the Study<br><br>2. Literature Review<br> 2.1 Overview of IFRS 17<br> 2.1.1 Objectives and Scope of IFRS 17<br> 2.1.2 Key Provisions and Requirements of IFRS 17<br> 2.2 Implications of IFRS 17 on Financial Reporting<br> 2.2.1 Changes in Measurement and Recognition of Insurance Contracts<br> 2.2.2 Impact on Financial Statements and Disclosures<br> 2.3 Effects of IFRS 17 on Risk Assessment and Management<br> 2.3.1 Changes in Insurance Contract Liability Assessment<br> 2.3.2 Impact on Risk Measurement and Hedging Strategies<br> 2.4 Business Operations and Strategic Implications of IFRS 17<br> 2.4.1 Operational Challenges and Implementation Considerations<br> 2.4.2 Opportunities for Process Improvement and Business Transformation<br><br>3. Research Methodology<br> 3.1 Research Design<br> 3.2 Data Collection Methods<br> 3.3 Sample Selection<br> 3.4 Data Analysis Techniques<br><br>4. Findings<br> 4.1 Impact of IFRS 17 on Financial Reporting<br> 4.1.1 Changes in Measurement and Recognition of Insurance Contracts<br> 4.1.2 Effects on Financial Statements and Disclosures<br> 4.2 Implications of IFRS 17 on Risk Assessment and Management<br> 4.2.1 Changes in Insurance Contract Liability Assessment<br> 4.2.2 Impact on Risk Measurement and Hedging Strategies<br> 4.3 Effects of IFRS 17 on Business Operations and Strategy<br> 4.3.1 Operational Challenges and Implementation Considerations<br> 4.3.2 Opportunities for Process Improvement and Business Transformation<br><br>5. Discussion<br> 5.1 Implications of IFRS 17 on the Insurance Industry<br> 5.1.1 Challenges Faced by Insurance Companies in Implementing IFRS 17<br> 5.1.2 Opportunities for Improved Financial Reporting and Risk Management<br> 5.2 Recommendations for Successful Implementation of IFRS 17<br> 5.2.1 Adequate Preparation and Training for Accounting and Actuarial Teams<br> 5.2.2 Collaboration with IT and Systems Departments for Data Management and Reporting<br></p>
Thesis Abstract
<p> IFRS 17, the new international accounting standard for insurance contracts, has brought significant changes to the accounting practices of insurance companies. This research aims to analyze the impact of IFRS 17 on the insurance industry. The study will examine the key provisions and requirements of IFRS 17 and evaluate their implications for insurance companies in terms of financial reporting, risk assessment, and business operations. The findings of this research will provide insights into the challenges and opportunities presented by IFRS 17 and contribute to enhancing the understanding and implementation of the standard within the insurance industry. <br></p>Thesis Overview
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