Statutory, GAAP & IFRS 17 Reconciliation demo
One book, three sets of rules: the walk between statutory, GAAP or LDTI and IFRS 17 results, built, checked and explained. 1:15
What the demo shows
A multi-GAAP reporting solution for insurers that builds and explains the walk between bases.
Six agents read the statutory statement, the GAAP and LDTI ledger and the IFRS 17 results, build the walk step by step with every item tied to its rule and journal, break the contractual service margin out by cohort with a plain-words note, chase what does not tie, and draft the commentary; the head of financial reporting signs.
Transcript
- Statutory, GAAP, and IFRS 17 Reconciliation explains the walk between bases for insurers.
- Most teams rebuild it by hand each quarter over days.
- Ashcom Life, 1.8 billion Statutory, 3 billion GAAP, 1.7 under IFRS 17.
- Six agents built it overnight, tying 48 of 52 items to their rule.
- Each step opens its items, journal, and policy.
- The contractual service margin opens into six cohorts.
- The 2023 cohort lost $22.6 million.
- Annuity customers are surrendering faster.
- For items don't tie yet, each has an owner and a date.
- Helen gets one explained walk and commentary for the audit committee.
- Built on Botminds: agents, data, screens, and governance on one platform.
Transcribed from the film’s narration. Captions are on the player.