IFRS Solution

Simplify your compliance procedures and exceed regulatory requirements with Locus’ IFRS solution offerings.

Locus helps to simplify financial compliance with a powerful financial data engine and reporting hub. You get a data repository, calculation modelling, reporting and disclosures in one easy-to-use solution. Get the transparency you need and make complex compliance easy.    

Highlights    

• Quickly and accurately comply with IFRS17 compliance requirements.
• Automated data collection, calculations, reports & disclosures, and control of the process by using our workflow and audit trail.
• Quickly calculate present value of future cash flows, contractual service margin (CSM), liability for remaining coverage (LRC) and incurred claims (LIC), perform onerous contract test and analyze movements.
• Integrates easily with your surrounding systems – without disruption, allowing seamless connection to actuarial, finance and risk systems, and centralizes all contract data in a single trusted source.

    
Benefits    

• Data preparation services to increase data quality and data standardization for long-term organizational success.
• Pre-built best practice IFRS17 standards to cover all IFRS17 requirements and designs.
• Data integrations (Core insurance system, Actuarial system, Commission system, etc.).
• Future upgrades made easy based on changes under IFRS17 standard.
• Experienced local Thai consulting team with IFRS experiences from BFSI industries.