Powerful out-of-the-box modeling
Milliman Mind–IFRS 17 provides secure, auditable, and traceable reporting without costly customizations or complex software.
Nuanced, comprehensive—and challenging
IFRS 17 requires a multi-disciplinary program with involvement from accounting, risk management, and actuarial teams.
How it works
Step 1: Upload data
Provide input files with current-period and expected future cash flows together with historical discount rates and parameter settings.
Step 2: Actuarial calculations
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.
Step 3: Accounting results
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.
Milliman Mind–IFRS 17 benefits
Easy deployment
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.
Simple, cost-effective licensing
The IFRS 17 model can be purchased and used without any recurring license fees. Milliman Mind is licensed as an annual subscription.
Local support
Implementation support is provided by your nearest Milliman office worldwide, building on our local market knowledge.
Audit trail
Every change is tracked—you always know who imported which input and when.
Traceability & reproductibility
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.
Open source flexibility
The open-source model can be tailored to your market and portfolio.
Customizable rights
Manage rights using a robust role-based system to ensure security and workflow efficiency.
Rapid deployment
The solution includes complete IFRS 17 parameters and is ready for immediate use.
Familiar tools
Convert easily from Milliman Mind to Excel and back again as needed.
Milliman Mind–IFRS 17 technology
Powerful, cloud-based calculation engine
Excel formulas are automatically converted to C#, enabling maximum utilization of a multi-threaded, AI-based calculation engine for fast results.
Powerful API
Fully integrate Milliman Mind within your IT mainframe to import data, launch complex calculations and export results directly.
Milliman Mind
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.