Legerity is delighted to have won the IFRS 17 Solution of the Year Award from InsuranceERM for the second year running

insightsoftware -
February 25, 2022

insightsoftware is the global provider of enterprise software solutions for the Office of the CFO to connect to & make sense of data in real time, driving financial intelligence across […]

22 09 Cs Legerity Altiusinsurance

With a rigorous selection process by an independent team of industry expert judges from across Europe and the UK, the InsuranceERM annual awards are the Oscars of the Insurance sector. Receiving such a prestigious award is the industry’s recognition of all-around excellence.

“This year, Legerity has been laser focussed on delivering IFRS17 projects across the globe. We are delighted that our FastPost Express for IFRS17, out-of-the-box SaaS solution, has been recognised again for its role in helping insurers deliver this complex new accounting standard, on time and on budget”
– Jeremy Wood, Legerity CEO and Founder

Read the full winner’s story on InsuranceERM

“When reviewing solutions in the market we identified Legerity FastPost as the most complete and flexible solution to address our IFRS17 needs. It will also help us to widen our vision for finance transformation. Legerity quickly established itself as a trusted partner, committed to our success, which was an important consideration in selecting the right vendor.”

Karine Morel,Senior Manager – Group Finance at SWAN

Some of Legerity’s achievements over the last 12 months that contributed to winning the IFRS17 Solution of the Year award, for the second year in a row, include:

Roll out of FastPost Express for IFRS17. Our SaaS “out of the box” version has helped medium and small insurers deliver this complex standard. We have built a highly referenceable client base globally across all types of Insurers. For the smallest firms, we offer a fully managed IFRS17 bureau service with advisory firm EY. We have an excellent track record for delivering on time and within budget.

We are solving the last mile of the IFRS17 standard. IFRS17 is new, complex, and evolving, and Legerity has solved some of the most challenging final parts. Our designs for Reinsurance Loss Remaining Component (RLRC), Asset and Liability Disclosure and Foreign Exchange have led the market.

Plan B and late starters. IFRS17 projects are challenging, and several insurers have struggled to deliver. We have stepped in to help firms meet internal transition reporting and external regulator deadlines.

Client testimonials include:

“A big thanks for the hard work to get the Transition submitted on time! I have been impressed by your team’s engagement and commitment,” CFO US division of global Insurer.

“I don’t think it would have been possible to achieve the 1st dry-run for the regulator without each and every person’s efforts,” GM Middle East General Insurer.

Legerity has also helped clients maximise their ROI in IFRS17 through extended use of FastPost for IFRS9, Allocations, Group Reporting, and SOX control. For 2022 we have an exciting roadmap to support ESG Accounting.

A huge thank you to InsuranceERM and the independent judging panel. We will take a moment to reflect on our achievement, but we’ve still much to do, helping firms meet the challenges of regulatory compliance and digital transformation.

There are still firms coming to the market that must comply with the standard by next year and have not yet started. These insurers can utilise FastPost Express for IFRS17 to meet the deadline, quickly and cost-effectively.