Accelerating the last mile reporting
In partnership with Workiva, Deloitte's Reporting Assist helps our clients to address the common challenges finance professionals in the insurance industry must tackle in the near future
With IFRS 17 set to take effect on January 1, 2023, has your organization addressed the changes to the last mile of reporting to produce reports fully compliant with IFRS 17?
Among the insurance companies we surveyed in Asia Pacific in 2021,
78% have stressed scarce resources in Accounting and Reporting
74% expect difficulty in implementing new technology solutions
70% feel reporting systems need to be changed to address new requirements
87% reported their systems would require upgrades to address new reporting requirements
Deloitte's Reporting Assist helps to address these issues with a cloud-based user-friendly reporting platform that enables remote working. In addition, it has:
200+ pages of illustrative disclosure
100+ customizable disclosure templates
Since 2019, we have combined our expertise in IFRS 17 with Workiva’s integrated reporting software to help our mutual insurance clients optimize their financial and management reporting processes via more efficient and effective report design, report automation and enhanced controls on report production.
Deloitte's Reporting Assist Disclosure Module offers
Work with us to achieve your IFRS 17 reporting goals and beyond
"IFRS 17 implementation is no easy task under the tight timelines and high demand for resources, systems integration and change management our business faces in 2021-22. To help us achieve our business goals and to address fast-changing regulatory reporting requirements, Deloitte's Reporting Assist solutions in partnership with Workiva are a highly effective choice. We are leveraging these solutions to streamline and automate finance reporting processes, converting operational and actuarial data into accounting entries and reports," says Kiran Ojla, Finance and Commercial Director, Bupa Hong Kong.
"Powered by Deloitte's expertise and Workiva's technology, these solutions are fully equipped with the accounting logic required by IFRS 17 and the associated regulatory reporting framework. It serves as a seamless and flexible self-service
reporting platform connecting from different source systems, enriching data to derive additional characteristics to enable subsequent detailed analysis and management reporting."
Other Reporting Assist modules include:
- Management Reporting Module
- Posting Module
- Expense Allocation Module
- Testing Bundle