Meet IFRS 17 needs with EastMed Simplified Solution

End-to-End Automation for Overflight Permit Handling for Civil Aviation Authorities and their Agents

Be ready by the beginning of 2022 for EastMed Powerful & Comprehensive IFRS 17 Core Insurance System

Solutions

IFRS 17 Solution

EastMed IFRS 17 solution is composed of multiple products, which enables our clients to choose which components are suitable to their business needs:

Transfer of Knowledge

Provide the financial know-how of IFRS 17, terminologies, how to move smoothly to IFRS 17, the 3 measurement approaches (BBA, PAA, VFA) and the impact of IFRS 17 of insurance company data, operations and reporting.

IFRS 17 Simulator

is a tool used for the Financial Impact Assessment, used by IFRS 17 3 Wings. This tool enables the Actuary and Finance Wings to conduct multiple trials where each trial presents different actuarial manipulation and financial reporting results for the Client’s data.

IFRS 17 Compliancy Engine (CE)

a tool that lives parallel with client’s core insurance system, after going live with the new standard, to produce the financial reporting based on IFRS 17.

Actuarial Consultancy

this product provides two services: Actuary consultation in gap analysis phase, in addition to the on-going actuarial consultancy after going live with IFRS 17 standard.

IFRS 17 Core Insurance System

a comprehensive core insurance system aligned with IFRS 17, built using most advanced IT standards. Contains all insurance core features: Underwriting, Claims, Re-Insurance, Finance, and others (Archiving, Reporting, Notifications, CRM, …).

Gap Analysis & Financial Impact Assessment

is a report that shows differences between financial reporting generated based on IFRS 4 and the ones generated based on IFRS 17 and assess the financial impact, this report is delivered as a Managed Service by IFRS 17 3 Wings: The Actuary Wing, the Financial Wing, and IT Wing.

Data Acquisition Support

this service is provided for IT team of insurance companies to facilitate extracting needed data from the core insurance system as input to our Simulator, CE, or external tools.

Over Flight Permit Solution

An online portal to automate Civil Aviation Authority work in handing the recieved Overflight permits and bill Agents accordingly, in addition to dedicated portal for Agents, Operators and Airlines enabling them to obtain the Overflight permits and manage all related info and documents and their statement of account.

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Choose the solution

  • Over Flight Permit Solution
  • Our IFRS 17 Solution

Services

IT Support
EastMed offers Full IT Support for its products from hosting, configuration, full maintance, backups and disaster recovery
IT Consultation
EastMed experts can help you in evaluate your software and meet your business needs, from analysis, design, integration with other systems, migrating data, problem solving, planning and so on.
Financial Consultation
Providing a full spectrum of financial services, including insurance, aviation banking, tax, audit consulting and asset management, and capital markets. in addition to help in managing risks, reducing costs, innovating, boosting customer loyalty, turning data and analytics into a competitive weapon, and achieve breakthrough digital transformations.

About

EastMed is a software house, focused exclusively on building and implementing software for two major industries: Insurance, and Aviation. We provide software solutions, business and financial consultation, digital transformation, transfer of knowledge, training and support services that increase operational efficiency, enhance enterprise collaboration, and enable faster decision-making to achieve operational performance. Official partners are distributed in major cities around the Middle East.

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Team

Our team has more than 50 accumulated years of expertise in the fields of IT, Finance, Insurance, Telecom, Aviation, E-Payment, Banking and others.

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Contact us

info@eastmed.co