Business and Economy

Moody’s Analytics and partner to deliver international financial reporting standards solutions to insurers in Africa

Moody’s Analytics, a global provider of financial intelligence, has announced a new collaboration with QED to provide insurers in Africa with International Financial Reporting Standards (IFRS) 17 advisory services and software solutions to address the new accounting standard.

QED, a leading actuarial consulting firm with headquarters in South Africa, is joining the Moody’s Analytics PartnerAlliance program. Its IFRS 17 team has developed expertise around the Moody’s Analytics RiskIntegrity™ IFRS 17 solution, and will offer insurers advisory services and implementation support across the continent.

QED will work with insurers to implement the Moody’s Analytics IFRS 17 solution as software-as-a-service (SaaS), an operating model that offers insurers a faster, more cost-effective way of implementing their IFRS 17 technology.

Last month, Moody’s Analytics was recognized as a Category Leader in a Chartis Research report evaluating top vendors of IFRS 17 solutions.

“As insurers across Africa prepare for IFRS 17, there is an ever-growing demand for advisory services, software, and implementation support to help insurers meet the new standard with confidence,” said Tracy Lister, Associate Director and Head of IFRS17 solutions at QED. “We look forward to working with Moody’s Analytics to bring increased value to the African market by pairing their market-leading IFRS 17 solution with our advisory expertise.”

“Moody’s Analytics will work with QED to support insurers in Africa with the implementation of their IFRS 17 projects by offering an out-of-the box solution that insurers can implement and use immediately,” said Massimiliano Neri, IFRS 17 Lead at Moody’s Analytics at Moody’s Analytics.

QED joins the PartnerAlliance program at the Member level. This alliance is non-exclusive, and both companies remain independent to collaborate with other parties in the best interest of their respective clients.

Interested insurers are encouraged to join experts from Moody’s Analytics, QED, and others at the Moody’s Analytics IFRS 17 roadshow on June 11 at the Sandton Sun Hotel in Johannesburg. Attendees will learn about the requirements for – and opportunities presented by – implementation of the new accounting standard.

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