This session will discuss two important dimensions of why a holistic approach is recommended over a piecemeal, nonintegrated approach for an IFRS 17 modeling solution. Attendees will receive three perspectives from actuaries working as actuarial consultants or within an insurance company or as a software developer. The first dimension is model design. The session will demonstrate holistic model design advantages with regards to model inputs, model outputs, liability portfolio management, modeling efficiency, and transparency. The second dimension represents organizational impacts resulting from the model design. This session will discuss how model design affects organizational behavior, stakeholder communications, and management. Attendees will learn about the organizational advantages derived from a holistic IFRS 17 modeling solution. TRACK: Valuation (LTDI, IFRS 17, Tax, Statutory/ Regulatory, Etc.);Technology/Model Development/ Artificial Intelligence/Machine Learning
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