Perspectives

Why start planning the communication strategy for Insurance IFRS now?

Now is the time to develop your communications strategy on IFRS Insurance impacts. Boards, senior management and investor relations teams are all responsible for engaging with the market, and will benefit from early preparation.

1. Setting Objectives

 

Now is the time to develop your communications strategy on IFRS Insurance impacts. Boards, senior management and investor relations teams are all responsible for engaging with the market, and will benefit from early preparation.  

 

Setting the Objectives

  • Involve the stakeholders at an early stage to allow the insurer to guide investors’ perception of the impact
  • Early in depth planning will build a first start advantage and generate peer pressure on competitors who delayed their engagement
    Full retention of the shareholder register throughout the transition period
  • Transform existing shareholders into promoters of the company as it presents itself under the new Solvency II and IFRS Insurance metrics

2. Taking Action


Now is the time to develop your communications strategy on IFRS Insurance impacts. Boards, senior management and investor relations teams are all responsible for engaging with the market, and will benefit from early preparation.


What actions to take?

  • Embed the outcomes of the insurer’s IFRS impact study into the Investors Relations communication strategy
  • Educate senior management to the new metrics and how past performance and known strategy are portrayed under the new capital and profit reporting requirements
  • Consider how to Integrate the implementation progress with the formulation of the strategy and planning and their impact on the insurer’s forward looking statement and market guidance
  • Proactively present the business benefits from the planned implementation efforts in addition to achieving full compliance.
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