01
Complex Insurance Data
Insurance information can originate across policy administration, claims, actuarial, finance and other operational systems.
IFRS-17 Calculation & Reporting Engine
SmartGen Technologies provides technology solutions designed to support the complex data, calculation and reporting requirements associated with IFRS 17. The solution brings together structured insurance data, calculation workflows, validation and reporting processes within a controlled technology environment.
Our Trusted Partners in Delivering Quality and Excellence
IFRS 17 Technology
A Structured Technology Approach to IFRS 17
IFRS 17 introduces requirements for the recognition, measurement, presentation and disclosure of insurance contracts. Meeting those requirements depends on reliable data, appropriate calculation processes, controlled workflows and reporting capabilities.
SmartGen's IFRS 17 solution is designed around these technology requirements, helping organizations structure the flow of insurance data from source systems through processing, calculation, validation and reporting.
The challenges
Managing the Technology Behind IFRS 17
IFRS 17 affects data, actuarial processes, finance operations and reporting. Organizations need technology that can handle these connected requirements without creating disconnected manual processes.
02
Calculation Requirements
IFRS 17 involves multiple inputs and calculation processes that need consistent data and controlled workflows.
03
Data Reconciliation
Finance and actuarial teams require reliable processes for validating and reconciling information across systems.
04
Reporting Requirements
Organizations need structured reporting processes that can support financial and management reporting requirements.
05
Process Traceability
Teams need visibility into how relevant data moves through processing, calculation and reporting workflows.
IFRS 17 ENGINE OVERVIEW
Reporting Period: Q4
Contract Groups
12
Configured
Calculations
08
Complete
Reconciled
100%
Validated
Insurance Service Result · Trend
Contract Groups · Status
Group A · GMMComplete
Group B · PAAComplete
Group C · VFARunning
Group D · GMMComplete
The SmartGen Approach
Connect Data, Calculation and Reporting in One Structured Environment
The IFRS-17 Calculation & Reporting Engine is designed to support the technology layer between insurance data sources and financial reporting processes. It can be structured around data ingestion, processing, calculation workflows, validation, reconciliation and reporting.
- Insurance contract data
- Financial and actuarial inputs
- Calculation workflows
- Data validation
- Reconciliation
- Reporting outputs
- Management information
What we deliver
Core IFRS 17 Engine Capabilities
Capabilities designed to support the data, calculation and reporting layers within insurance technology environments.
Insurance Contract Data
Support structured handling of relevant insurance contract information and associated financial data.
Calculation Workflow Support
Provide technology-enabled workflows for processing the data required by applicable IFRS 17 measurement processes.
Fulfilment Cash Flows
Support technology workflows involving relevant estimates of future cash flows, subject to the organization's accounting and actuarial methodology.
Risk Adjustment Data
Support the processing and management of data associated with risk adjustment calculations.
Contractual Service Margin
Support data and workflow requirements associated with the Contractual Service Margin.
Insurance Revenue and Service Results
Support structured reporting workflows for relevant insurance service information.
Insurance Finance Results
Support data processing and reporting related to insurance finance income or expenses.
Reconciliation and Validation
Support controls and validation workflows across relevant data and reporting layers.
Technology in practice
Supporting Different IFRS 17 Measurement Approaches
The solution architecture can be configured around applicable IFRS 17 measurement requirements based on implementation scope.
01
General Measurement Model
GMMThe General Measurement Model is the standard measurement approach for insurance contracts that do not qualify for another applicable measurement approach.
02
Premium Allocation Approach
PAAThe Premium Allocation Approach provides a simplified measurement approach for eligible insurance contracts when the applicable requirements are met.
03
Variable Fee Approach
VFAThe Variable Fee Approach applies to eligible insurance contracts with direct participation features and has specific measurement requirements.
The applicable measurement approach depends on the characteristics of the insurance contracts and the relevant accounting requirements. Specific accounting judgments should be determined by qualified accounting and actuarial professionals.
How it connects
From Insurance Data to IFRS 17 Reporting
A structured six-stage flow from source data through processing, calculation, validation, reporting and analytics.
1
Source Data
Insurance, finance, actuarial and operational data
2
Data Processing
Ingestion, transformation and structured data preparation
3
Calculation
Configured calculation workflows and relevant measurement processes
4
Validation
Data quality checks, reconciliation and process controls
5
Reporting
Financial and insurance reporting outputs
6
Analytics
Management information and analysis
Designed to connect
A Technology Architecture Built Around Insurance Data
Layered architecture connecting source systems through data processing, the IFRS 17 engine and reporting outputs.
LAYER 01
Source Systems
Policy Administration
Claims
Actuarial
Finance
Other Operational Systems
LAYER 02
Data Processing
Data Ingestion
Transformation
Validation
Standardization
LAYER 03
IFRS 17 Engine
Calculation Workflows
Measurement Processes
Data Management
Reconciliation
LAYER 04
Reporting
Financial Reporting
Insurance Reporting
Management Information
Analytics
Your data, connected
Reliable Data Is the Foundation of IFRS 17 Reporting
IFRS 17 technology depends on data that is complete, structured and available across the relevant reporting process. SmartGen's approach places strong emphasis on data processing, transformation and validation before information reaches downstream calculation and reporting workflows.
01
Data Ingestion
Collect relevant information from connected source systems.
02
Transformation
Convert incoming information into structured formats required by downstream processes.
03
Validation
Apply data quality and consistency checks before processing.
04
Controlled Outputs
Deliver structured information to calculation and reporting workflows.
Operational visibility
An Illustrative View of the IFRS 17 Environment
A conceptual view of the reporting environment showing data processing, calculation and reconciliation status alongside key insurance results.
ILLUSTRATIVE IFRS 17 DASHBOARD
Reporting Period: Q4 · Illustrative
Insurance Portfolio
12 Groups
Contract groups configured
Data Processing
Complete
Source data ingested
Calculation
In Progress
Measurement workflows
Reconciliation
Validated
Checks passed
Contract Groups · Processing Status
Group A · GMMComplete
Group B · PAAComplete
Group C · VFARunning
Group D · GMMQueued
Group E · PAAComplete
Reporting Results
Insurance Service ResultReady
Insurance Finance ResultReady
CSM MovementCompiling
Reporting PackagePending
Illustrative concept only. Not a representation of an actual production SmartGen interface.
Reporting with clarity
From Calculation Results to Clear Reporting
The solution can support structured reporting processes around relevant IFRS 17 information.
Financial Reporting
Structured outputs designed to support relevant financial reporting requirements.
Insurance Service Reporting
Support reporting workflows related to insurance service information.
Insurance Finance Reporting
Support reporting workflows related to insurance finance income or expenses.
Management Information
Provide structured access to information supporting internal management reporting.
Connected information
Built Around Validation and Traceability
Controls designed to support data quality, reconciliation and structured reporting outputs.
Data Validation
Identify inconsistencies within relevant data workflows.
Reconciliation
Support comparison of data across source, processing and reporting layers.
Process Traceability
Provide visibility into relevant workflow stages and data movement.
Controlled Reporting
Support structured reporting outputs based on validated information.
Built around your needs
What the IFRS 17 Engine Can Help Organizations Achieve
Practical outcomes for insurance organizations building structured IFRS 17 technology environments.
Better Data Visibility
Improve visibility across relevant insurance and financial data flows.
More Structured Processes
Reduce dependency on disconnected manual processes.
Consistent Data Handling
Create defined processes for data preparation and validation.
Improved Reconciliation
Support reconciliation between relevant source and reporting information.
Clearer Reporting
Provide structured access to relevant reporting outputs.
Scalable Technology
Create an architecture that can evolve with business and reporting requirements.
Who we support
Designed for Teams Across the Insurance Reporting Environment
Supporting the roles that depend on structured insurance data, calculation and reporting workflows.
Insurance Finance Teams
Support financial reporting and insurance accounting workflows.
Actuarial Teams
Support data exchange between actuarial processes and downstream reporting environments.
Financial Controllers
Support reconciliation, reporting and process visibility.
IT and Data Teams
Support data integration, processing and technology architecture requirements.
Executive Management
Provide clearer access to relevant financial and insurance reporting information.
Governance and Enterprise Control
Technology With Control and Visibility
Insurance reporting environments require more than calculation capabilities. They also require controlled data flows, clear process ownership and visibility across relevant technology layers.
Data Governance
Structured handling of relevant financial and insurance information.
Access Control
Support appropriate access permissions within the technology environment.
Process Visibility
Improve visibility across processing and reporting workflows.
Traceability
Support traceability across relevant data and process stages.
From planning to delivery
A Practical Implementation Approach
A three-stage approach focused on understanding requirements, designing the environment and delivering the solution.
01
Understand
Review data sources, reporting requirements, business processes and implementation scope.
02
Design
Define the required data architecture, workflows, integrations and reporting environment.
03
Implement
Configure and deploy the solution around the organization's agreed requirements.
The SmartGen difference
Why SmartGen for IFRS 17 Technology
A focused technology partner for insurance organizations building structured IFRS 17 environments.
Technology Expertise
Experience in designing software, data and enterprise technology environments.
Insurance Focus
Solutions designed around the specific requirements of insurance technology environments.
Data-Centric Architecture
Strong focus on data processing, integration and structured information flows.
Flexible Implementation
Technology can be configured around organizational requirements and existing environments.
Enterprise Approach
Designed for organizations with complex technology, data and reporting requirements.
Practical Delivery
Focus on implementation requirements rather than generic technology promises.
Insurance technology, built around you
Built for insurers
Structured data.
Clear reporting.
Accounting
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05+ years of expertise · IFRS 17 and insurance technology
Prefer to talk? +971 4 577 8068 info@smartgen.ae