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IFRS 17 calculation, with the power of Milliman Mind.
Milliman Mind–IFRS 17
Milliman Mind–IFRS 17 provides secure, auditable, and traceable reporting without costly customizations or complex software.
IFRS 17 requires a multi-disciplinary program with involvement from accounting, risk management, and actuarial teams.
Provide input files with current-period and expected future cash flows together with historical discount rates and parameter settings.
Roll forward historical annual discount rates, interpolate them to cash flow frequency, and perform a step-by-step analysis of the movement of the present value of expected future cash flows.
Upload the structure of your Chart of Accounts to create a tailor-made postings file for use by your accounting platform, plus all related disclosure tables.
A cloud-based app, Milliman Mind requires no local installation, and can be used on laptops, tablets, and even smartphones. Milliman handles updates, which can be applied at your request.
The IFRS 17 model can be purchased and used without any recurring license fees. Milliman Mind is licensed as an annual subscription.
Implementation support is provided by your nearest Milliman office worldwide, building on our local market knowledge.
Every change is tracked—you always know who imported which input and when.
A full model backup, including inputs and outputs for each closed period, provides peace of mind. Manage access rights to control sign-off and validation.
The open-source model can be tailored to your market and portfolio.
Manage rights using a robust role-based system to ensure security and workflow efficiency.
The solution includes complete IFRS 17 parameters and is ready for immediate use.
Convert easily from Milliman Mind to Excel and back again as needed.
Excel formulas are automatically converted to C#, enabling maximum utilization of a multi-threaded, AI-based calculation engine for fast results.
Fully integrate Milliman Mind within your IT mainframe to import data, launch complex calculations and export results directly.
Milliman Mind is a flexible and easy-to-use web-based platform which converts Excel spreadsheets into more powerful models with the capabilities and controls of more expensive “black-box” systems, all within a secure, auditable framework.
Get started with Milliman Mind and the IFRS 17 model in one business day, and get help tailoring it to your needs. Enjoy full support from your local Milliman office.
Milliman actuaries have been closely tracking the development of IFRS 17 over the last 20 years and have created this solution based on real-world implementation experience since 2017. We offer you a unique combination of global IFRS 17 expertise with local insurance product knowledge.
Learn more about Milliman Mind–IFRS17