Actuarial Services

Insightful, compliant IFRS 17 implementation

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Actuarial Services

Overview

The evolving regulatory landscape, including IFRS 17, has transformed the way insurance and non-insurance companies approach accounting for insurance contracts. Accurate actuarial analysis, robust systems, and process alignment are critical to ensure compliance, reliable reporting, and informed decision-making.

BDO India’s Actuarial Services help organisations navigate these complexities by providing end-to-end support, from technical advisory to system implementation. Our solutions combine actuarial expertise, accounting knowledge, and technology-enabled processes to deliver precise reporting and actionable insights. We support organisations in managing insurance contract valuation, risk measurement, and reserve calculations while ensuring that processes align with the latest regulatory standards.

Through our actuarial services in India, companies gain not only regulatory compliance but also enhanced risk understanding, improved transparency, and greater confidence in financial reporting. Our structured approach ensures that stakeholders, including management, regulators, and investors, have access to reliable and meaningful financial and risk information.


How BDO India Can Help

BDO India equips insurers and other organisations to implement IFRS 17 compliance and strengthen actuarial capabilities through tailored solutions and practical guidance. These services enable organisations to improve accuracy, maintain compliance, and derive strategic insights from actuarial and financial data, thereby supporting robust decision-making and risk management frameworks. Our support includes:

  • IFRS 17 Convergence Support: Assist life and general insurance companies, as well as non-insurance entities, in transitioning to IFRS 17 with detailed guidance and structured processes.
  • Accounting Policy Design & Process Solutions: Develop and implement accounting policies and end-to-end solutions to meet data, system, and process requirements arising from IFRS 17 adoption.
  • UAT Support for IFRS 17 System Migration: Provide guidance and assistance during user acceptance testing to ensure smooth system implementation and compliance.
  • First-Time Adoption Financial Statements & Disclosures: Prepare financial statements and disclosures for first-time adoption in line with IFRS 17 compliance requirements.
  • Other Actuarial Services: Offer expert support in risk modelling, reserve analysis, premium and liability calculations, and other actuarial requirements leveraging global best practices.


How BDO India Can Help

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Frequently Asked Questions

IFRS 17 is an international accounting standard for insurance contracts that ensures consistent measurement, reporting, and disclosure. It enhances transparency and comparability in financial statements for insurers globally.

These include risk modelling, reserve analysis, premium and liability calculations, expected claims assessment, and other actuarial evaluations that assist decision-making and ensure regulatory compliance.

User Acceptance Testing (UAT) ensures that IFRS 17 systems meet operational and reporting requirements. BDO India guides companies through testing, validates outputs, and helps address discrepancies before go-live.

BDO India provides convergence support including technical guidance, process mapping, accounting policy design, system migration assistance, and preparation of first-time adoption financial statements.

Non-insurance companies with long-term obligations or insurance-related products may require actuarial assessments for financial reporting, risk analysis, or compliance with IFRS 17 and related regulations. These may also cover Financial Guarantee contracts scoped in IFRS 17 framework, requiring actuarial services for their accounting. 

Actuarial expertise enables accurate measurement of liabilities, assessment of insurance risks, and development of strategies to mitigate financial exposure, ensuring robust governance and informed decision-making.

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