IFRS 17 Insurance Contracts Certification Training
Join our IFRS 17 Insurance Contracts Training on Implementation 2023. This 2-day online course offers live training programs globally. Enroll now!
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IFRS 17 Insurance Contracts Certification Training
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Certification
- Background, objectives, and main principles of IFRS 17
- Key differences between IFRS 4 and IFRS 17
- Global implementation status and 2024-2025 issues (experience adjustments, data gaps, operationalisation challenges)
- Overview of measurement models (GMM, PAA, VFA) and how they align with insurance contract features
- Key post-implementation amendments from IASB
- Components of the GMM
- Fulfilment cash flows
- Contractual service margin (CSM) mechanics
- Separation of investment components & distinct services
- Insurance finance income and expenses (IFIE)
- Treatment of experience variances
- Illustrative GMM balance-sheet & P&L examples
- Principles for estimating future cash flows
- Use of actuarial models and data requirements
- Contract boundary under BEFCF
- Experience variances, assumption changes & risk adjustments
- Contract boundary rules for long-term & short-term contracts
- Acquisition cash flows and insurance acquisition expense recoverability tests
- IFRS 17 discount rate principles: top-down vs bottom-up
- Locked-in vs current discount rates
- Yield curve construction challenges post-2023
- Illiquidity premiums / adjustments
- Impact on CSM and insurance finance income
- Definition & principles
- Confidence level disclosure requirements
- Approaches: cost-of-capital vs confidence level
- Diversification benefits and aggregation rules
- Reinsurance RA vs direct RA treatment
- Ongoing interpretational issues as seen in 2024/2025
- Initial recognition and CSM establishment
- Coverage units (2025 trending topics: service pattern determination)
- CSM amortisation
- Loss component interactions
- Treatment of investment-related services under VFA
- Experience adjustments affecting CSM
- CSM roll-forward disclosures
- Updated IFRS 17 financial statements structure (Income Statement, Balance Sheet, OCI)
- Insurance revenue vs premiums
- New disclosure requirements:
- Reconciliation tables (CSM, RA, liabilities)
- Insurance service result
- Insurance finance result
- Sources of profit (SoP) framework in practice
- Portfolios, groups, annual cohorts
- Onerous, no significant risk of becoming onerous, and no significant variability groups
- Practical challenges: policy administration systems vs actuarial modelling
- Reliefs for reinsurance vs direct contracts
- Enforcement trends from 2023-2025 filings
- Criteria for contract recognition
- Treatment of acquisition cash flows
- Boundary impacts and coverage start date
- Day-1 CSM & onerous contract tests
- Identification and measurement of loss components
- Treatment of changes in fulfilment cash flows
- Subsequent reversal rules
- Onerous contract indicators
- Regulatory constraints vs practical constraints
- Renewal options
- Modifiable vs non-modifiable cash flows
- Case examples for long-term health, life, and general insurance
- When and how to use OCI
- Asset-liability matching impact
- Analysis of earnings volatility
- 2023-2025 trends: who is using OCI and why
- Eligibility assessment (including “similar to PAA” practical relief)
- Simplifications compared to GMM
- Liability for incurred claims (LIC) vs remaining coverage (LRC)
- Discounting & RA considerations in PAA
- Expense recognition under PAA
- Example walk-through with short-duration contracts
- Applicability: participating / with-profits contracts
- The “variable fee” mechanics
- CSM modifications for underlying items
- Treatment of financial risk changes
- VFA vs GMM comparison
- Practical experience from insurers (2023-2025)
- Reinsurance held vs reinsurance issued
- Proportionate vs non-proportionate reinsurance
- Risk adjustment differences for cedants
- Reinsurance contract boundary
- CSM treatment for reinsurance held (Gain-on-buy & Loss Recovery Component)
- Practical modelling issues for 2024-2025
- Post-go-live challenges
- Transition methods recap:
- Full retrospective
- Modified retrospective
- Fair value approach
- Transition disclosures
- Systems integration & data model improvements
- Actuarial system alignment (Prophet, MoSes, Axis, etc.)
- Finance-Actuarial collaboration frameworks
- Lessons learned from first 2-3 years of IFRS 17 reporting
- Hands-on practical modelling:
- Full GMM modelling exercise (cash flows, RA, CSM roll-forward)
- PAA case study (LRC, LIC, discounting, RA)
- VFA modelling example (underlying items, fee adjustments, CSM unlocks)
- Reinsurance (LRC + LIC, Loss Recovery Component, gain-on-buy, RA differences)
- Additional 2025-relevant case studies:
- OCI vs P&L impact analysis
- Level of aggregation & cohorting problems
- Discount rate construction exercises
- IFRS 17 Software Training – Updated Models (2025)
- GMM Insurance Excel Model
- GMM Reinsurance Model
- PAA Insurance Model
- PAA Reinsurance Model
- VFA Insurance Model
- Overview of system workflows (Actuarial engine → IFRS 17 valuation engine → GL)
- Interpreting system outputs vs insurer disclosures
1. Introduction to IFRS 17
2. General Measurement Model (GMM) / Building Block Approach (BBA)
3. Best Estimate of Fulfilment Cash Flows
4. Discounting (Current Guidance & Practical Issues)
5. Risk Adjustment for Non-Financial Risk
6. Contractual Service Margin (CSM)
7. Presentation & Disclosure
8. Level of Aggregation (With 2025 Practical Issues)
9. Initial Recognition of Insurance Contracts
10. Onerous Contracts
11. Contract Boundary (Expanded)
12. OCI Option (Insurance Finance Income/Expenses)
13. Premium Allocation Approach (PAA)
14. Variable Fee Approach (VFA)
15. Reinsurance
16. Implementation Considerations (2025 Perspective)
17. Exercises / Case Studies (Updated)
18. Bonus Extra 1-Hour Session
- An awareness of basic accounting principles applied by any national set of standards.
- No advance preparation is required for this course.
- This course is designed for those who wish to learn about the critical technical differences between the accounting and reporting requirements of existing IFRS 4 (and industry practice) and IFRS 17.
- It will be highly relevant to finance, risk, and actuarial team members preparing for the changes in insurance contract accounting practice.
- The course is designed for executive officers, industry controllers, analysts, actuaries, auditors, and finance professionals who wish to gain a working knowledge of this large new standard.
- 20 questions
- A Passing Score: 75% (15 out of 20 questions)
- Objective-type questions related to the training syllabus
- Two attempts to pass
Certification and Exam
Obtaining the IFRS 17 certification is highly beneficial for finance, accounting and insurance professionals, as IFRS 17 represents one of the most complex and impactful accounting standards in the global insurance industry. With insurers and reinsurers required to comply with IFRS 17 across multiple jurisdictions, professionals who can interpret and apply its measurement models, reporting requirements and disclosure framework are increasingly in demand. The certification equips professionals with the technical expertise needed to support compliance, enhance financial transparency and manage complex insurance reporting requirements.
From a career and compensation perspective, IFRS 17 certification often places professionals in specialised roles that attract higher remuneration than general accounting positions. Organisations typically reward IFRS 17 expertise with premium salary bands, enhanced benefits and greater job security due to the scarcity of experienced talent and the ongoing nature of IFRS 17 reporting. Certified professionals are frequently considered for senior reporting, finance management and specialist advisory roles where technical knowledge directly influences financial outcomes.
Beyond salary benefits, IFRS 17 certification enhances professional credibility and supports long-term career progression. It demonstrates advanced technical competence, strengthens decision-making capability and improves global employability within insurance, audit and consulting environments. By obtaining IFRS 17 certification, professionals position themselves as trusted experts capable of delivering accurate, compliant and high-quality financial reporting in an increasingly complex regulatory landscape.
- He is an IFRS 17 Implementation Manager, a Chartered Accountant and a CPA Associate with over 15 years of experience in the insurance industry.
Learning Outcomes:
Student Reviews
"Appreciate that the end to end perspectives from the reporting requirements were covered."
"The trainer is very knowledgeable and experienced in terms of the subject and he is able to clarified for what I have asked him during the class. All subjects discussed were very useful."
"Learning about IFRS 17 group contracts aggregation with interaction was most useful. Very interesting training and the argument well explained with pertinent examples."
"Thanks for covering reinsurance module. The topic is little tough and will require assistance for the company to be ready for implementation. The trainer has explained the modules is a simplified manner."
Frequently Asked Questions
No difference in the content. In self paced course, you will have eLearning course access with pre-recorded lectures, training materials, solved examples and certification assessment. And, with live training option, you will join Zoom meeting and attend interactive training session.
Yes, there will be an assessment of 20 questions based on the training topics at the end of the course, you will have to score 75% to pass.
You will get 2 attempts.
Sure, you can watch the recordings of the sessions you cannot attend and get back to us if you have any doubts to clear.
Yes, you will be able to pay the course fees in instalments. Reach out to [email protected] to see the options available to you.
Group discounts are available to groups of more than three candidates. You can get up to 20% discount depending on the number of participants.
Yes, if you notify at least 24 hours in advance before the 1st class of the training and there is an availability in a different batch then you will be able to switch your start date.
Our courses are designed to provide high quality learning and outcomes that exceed expectations. If for some reason your expectations are not met. You will be given a refund in accordance with our 100% satisfaction policy.
You will receive meeting login for Zoom live classes and training materials.
You will get access to the learning portal and certification exam voucher via email.
All the participants will be added to WhatsApp group. You can clarify doubts at any time via WhatsApp or email.
a) Includes hands-on exercises and case studies for GMM, PAA, VFA and reinsurance. b) Covers practical implementation challenges, operationalization, and data gaps. c) Includes our own certification assessment with two attempts.
Yes, we focus on real-world examples, practical current issues, actuarial modelling challenges and implementation lessons from insurance companies.
Yes, participants will go through exercises covering GMM, PAA, VFA, reinsurance, discounting, CSM roll-forward and OCI impact analysis.
Basic familiarity with IFRS and insurance accounting is helpful, but the course is designed to guide beginners through advanced topics step by step.
The assessment is designed to test practical understanding and application of IFRS 17 concepts covered in the course. With full participation, most participants pass on the first attempt.
Yes, participants receive a digital certification immediately upon successfully completing the assessment.
No, our in-house certification is valid indefinitely, demonstrating your IFRS 17 expertise. While not mandatory, refresher training every 2-3 years is recommended to maintain skills and compliance.
We offer flexible delivery options including live online sessions, self-paced learning and in-person workshops (depending on requirement).
Yes, our trainers are industry professionals with hands-on IFRS 17 implementation experience.
Yes, participants receive comprehensive slides, examples, and reference notes aligned with recent updates.
Yes, we provide mentorship, doubt resolution and guidance for assessment preparation.
The course is modular, typically delivered over 8 hours depending on depth and practical exercises.
Yes, case studies and exercises are derived from real IFRS 17 scenarios including life, health and general insurance contracts.
Yes. The online training is accessible worldwide.
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