LONDON, April 25, 2019,/PRNewswire-PRWeb/ — After main, the market with the primary seller sale of an IFRS 17 software solution, the Aptitude Insurance Calculation Engine (AICE) celebrates the give up of a hectic and success first yr.
Aptitude’s IFRS 17 Solution, which is made from AICE and the powerful and IP rich Aptitude Accounting Hub, now has eight primary coverage customers throughout 3 continents.
The answer maintains to appeal to insurers searching out a strategic and complete finance answer. Part of the price presented is in the undertaking accelerators constructed into the established and ‘out of the container’ nature of the accounting hub and sub-ledger. These accelerators now not simplest speed up implementations but also reduce danger and power blessings past compliance. Aptitude’s hooked up Centre of Excellence is continually taking pictures nice practices from the training gleaned from worldwide implementations performed with a widespread accomplice network.
“Over the remaining year it is been our pleasure to work alongside some of the most important insurers within the world to help them observe IFRS 17 in a way that minimizes disruption, allows them to provide an explanation for adjustments in key KPIs and positions them for future change,” states Chief Product and Marketing Officer, Chris Wade. “We are seeing no slowdown in insurers’ choice to deal with IFRS 17 as effectively and correctly as viable.”
The Aptitude IFRS 17 solution is usually evolving to keep pace with new necessities as they emerge. To have fun the one-yr anniversary, the solution has been up to date with new improvements that guide FX, VFA, and reinsurance. Additionally, new technology driving the UI, scheduler, security, and reporting will give insurers an extra sight view of reporting.
“The new improvements we have made to the product will assist insurers to manipulate the complexity in their portfolio by way of providing extra depth of functionality throughout each of the three measurement models and supply them greater effective gear to apprehend and visualize the effect of the brand new regulation on their financial results,” states Wade.
Altitude Software is a finance software provider. In addition to a packaged way to cope with IFRS 17, they offer answers for rent accounting compliance (IFRS 16 / ASC 842), revenue recognition (IFRS 15 / ASC 606) and Targeted Improvements to the Accounting for Long-Duration Contracts (LDTI).
About Aptitude Software
Aptitude Software can provide finance software to the arena’s largest organizations. It combines economic accounting knowledge and specialist regulatory expertise to create industry leading finance software program. Aptitude Software supports businesses with blended sales drawing close $1 trillion and over 500 million stop customers. Headquartered in London, Aptitude Software Ltd is a working agency of Aptitude Software Group percent.