Intelligent finance for insurance: Oracle
Accenture and Oracle’s comprehensive solution helps insurance carriers address IFRS 17 and LDTI accounting requirements and unlock value from data.
IFRS 17 and LDTI changes come into effect January 1, 2022, impacting how insurers conduct financial reporting for contracts. These are expected to be the most challenging financial reporting changes for insurers in decades.
The joint Accenture and Oracle offering is a comprehensive solution designed to help the insurance companies address modernization of finance inclusive of the new accounting standards. Insurers will have the opportunity to utilize Oracle Solutions for IFRS 17 and Finance as well as delivery capabilities from Accenture that include assets such as architectural and configuration options, data and reporting, automation and intelligent analytics, providing a jumpstart to their modernization efforts.
To meet the new standards, insurance CFOs will need to use transformative new digital technologies and those that fully harness the power of data and new technologies can drive value, improve efficiency and empower CEOs with strategic insights.
Learn how CFOs can fully harness the power of data to overcome barriers, transform their role and work alongside CEOs as a key partner.
IFRS 17 and LDTI will significantly change insurance companies’ financial reporting, but their impacts reach further into the finance function:
Accenture is one of Oracle’s leading systems integration partners globally, with more than 54,000 Oracle-skilled consultants around the world helping clients accelerate digital transformation by implementing Oracle-based business solutions and new business processes that develop and evolve as their digital business grows. Our solution will enable:
Oracle systems integrator globally 12 years in a row.
Oracle awards won since 2003—and more than 30 won since 2017.
Of our Oracle clients are repeat clients.
New intelligent tools and technologies will enable insurance carriers to innovate and digitize their financial reporting, while empowering them to embark on the journey to making better data-driven decisions and unlocking trapped value.