Description: LDTI’s introduction has forced many insurers to examine their existing operations and technologies. They must determine how to optimize compliance efforts while balancing data, analytics and system modernization considerations to achieve maximum value. This article will examine the four key facets—the data, technology, processes, and people—essential to any successful LDTI exercise. It will also touch on the various approaches for tackling LDTI and how a modernization mindset can help insurers realize much greater transformation for the business.

Description: Since the international financial crisis, accounting standards have become an important part of financial supervision rules, which objectively requires us to study the reform and development of accounting standards from the perspective of financial stability. Since the release of IFRS17 in 2017, the research and discussion of IFRS17 in the insurance industry has focused on technical details and implementation, while the economic impact and pros and cons analysis of IFRS17 are few. As a result, the industry's understanding of IFRS17 is not comprehensive enough, and there are still many disputes, and no industry consensus has been formed. In the future, the insurance industry should strengthen the research and analysis of IFRS17 from the perspective of financial stability, deepen the understanding and cognition of IFRS17, and improve the ability to control and use IFRS17.