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Legerity FastPost IFRS 17 from Legerity

Cloud-based IFRS 17 solution with accounting rules engine, data management, contract grouping, measurement models, and disclosure reporting. Features include rapid implementation and integration with existing systems.

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Product analysis by function

IFRS 17/LDTI Compliance Solutions for Finance and Accounting

Specialized applications that implement new international financial reporting standards for insurance contracts, including complex calculations and disclosure requirements.
More IFRS 17/LDTI Compliance Solutions More Finance and Accounting ...

Core Compliance
(10 Yes /10 Known /10 Possible features)

Data Management and Integration
(9 Yes /9 Known /10 Possible features)

Financial Calculation Engine
(9 Yes /9 Known /10 Possible features)

Reporting & Disclosure
(10 Yes /10 Known /10 Possible features)

Auditability and Controls
(9 Yes /9 Known /10 Possible features)

User Experience & Usability
(6 Yes /6 Known /10 Possible features)

Performance and Scalability
(6 Yes /6 Known /10 Possible features)

Security & Compliance
(8 Yes /8 Known /10 Possible features)

Cloud and Deployment Options
(9 Yes /9 Known /10 Possible features)

Extensibility and Customization
(10 Yes /10 Known /10 Possible features)

Implementation & Support
(8 Yes /8 Known /10 Possible features)

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Full IFRS 17/LDTI Standard Coverage Supports all core requirements of IFRS 17 and LDTI, including measurement, presentation, and disclosure.		Website indicates support for all core IFRS 17 requirements – measurement, grouping, presentation, and disclosure.
Automated Measurement Models Implements General Measurement Model (GMM), Premium Allocation Approach (PAA), and Variable Fee Approach (VFA).		Documentation explicitly references support for GMM, PAA, and VFA measurement models.
Contractual Service Margin (CSM) Calculation Automated calculation and unrolling of CSM, supporting required adjustments.		Contractual Service Margin calculation is called out as a core engine feature for IFRS 17 compliance.
Risk Adjustment Calculation Automates risk margin determination as per standards.		Product includes automated risk adjustment calculation per standard.
Discounting Engine Provides updated discount rates, multi-currency, and curve management options.		Discounting, yield curve and multi-currency options described as central capabilities.
Reinsurance Support Handles reinsurance contracts, including held and issued.		Reinsurance functionality (held and issued contracts) shown in product docs.
Portfolio Grouping Automates grouping of contracts by profitability and other mandated criteria.		Automated portfolio/contract grouping described in core process walkthroughs.
Transition Methodologies Supports full, modified, and fair value transition methods.		Transition support (full, modified, fair value) referenced in implementation materials.
Policy Changes/Modification Handling Manages contract modifications, derecognition, and changes in estimates.		Policy and contract modifications addressed with specific workflow support.
Unit of Account Flexibility Customizes grouping beyond minimum standard (e.g., by line, product).		Customizable unit of account/grouping reported as available for user configurations.

Data Integration APIs Open APIs for integration with policy admin, actuarial, finance, and reporting systems.		Open APIs for integration highlighted in solution feature set.
Data Validation Rules Engine Automated checks for completeness, consistency, and reliability.		Built-in data validation logic claimed for completeness and accuracy assurance.
Data Lineage Tracking Tracks flow, origin, and transformation of key data elements.		Lineage and auditability for data flows mentioned under compliance controls.
High-volume Processing Capacity Handles large and complex datasets typical in insurance portfolios.		No information available
Historical Data Storage Stores contract, assumption, and result data for all mandated retention periods.		Stores contract, assumption, and results for compliance with retention rules.
ETL (Extract-Transform-Load) Automation Automates ingestion from various source systems with transformation and mapping tools.		ETL and transformation tools noted in integration section.
Multi-source Reconciliation Reconciles incoming data with multiple systems and ledgers.		Multi-source and GL reconciliation features listed.
Master Data Management Defines, manages, and governs critical information consistency.		Master data management part of the described architecture.
Data Encryption & Security Protects sensitive data at rest and in transit.		Data encryption in line with enterprise security standards referenced.
Bulk Upload/Download Tools Enables rapid ingestion and extraction for large files and records.		Bulk upload/download tools and processes referenced for large volume data.

Flexible Calculation Rules Supports configurable business and actuarial rules.		Actuarial and accounting rule definition flexibility described.
Parallel Processing Allows multi-threaded computation to increase speed.		Parallel cloud-based processing referenced for scale and speed.
Real-time Calculation Capability Performs calculations on-demand with minimal lag.		On-demand, fast calculation engine listed as a differentiator.
Calculation Audit Trails Logs all calculation steps for transparency and review.		Audit trail for all calculation steps noted in internal control documentation.
Scenario/Assumption Management Handles multiple what-if analysis and assumption sets.		Scenario and assumption set handling is part of core offering.
Bulk Processing Speed Throughput for large-scale contract calculations.		No information available
Sensitivity Analysis Assesses impact of changing key assumptions.		Supports sensitivity analysis for actuarial risk and assumption changes.
Calculation Version Control Tracks logic/parameter changes over time.		Tracks logic/parameter changes for calculation traceability.
Formula Transparency Displays calculation formulas and method logic to users.		Transparent formulas and methods accessible in user interface.
Out-of-the-box Metric Support Delivers pre-configured financial metrics aligned with the standard.		Out-of-the-box financial metrics for IFRS 17 are available.

Standard Regulatory Disclosure Templates Includes all required notes, tables, and financial statements.		Comprehensive disclosure templates detailed in product sheet.
Custom Report Builder Facilitates user-driven report formats and analytics.		Custom reporting and analytics builder is a noted core feature.
Drill-down and Traceability Allows users to explore reports from summary to detailed source data.		Drill-down traceability explicitly included in reporting engine.
Automated Period-end Close Reporting Speeds up the close process through pre-configured report automation.		Automated period-end close and reporting described in implementation guides.
Multi-GAAP Support Handles presentation for both IFRS and local standards.		Handles IFRS, local/GAAP standards presentations.
Report Scheduling & Distribution Allows reports to be scheduled and delivered automatically.		Users can schedule/distribute reports automatically.
Comparative Reporting Supports current and prior period figures including restatements.		Supports comparative reporting for current and prior periods.
Visualization Tools Offers dashboards, graphs, and trend analytics.		Dashboards and visualization tools featured in UI overview.
Export Functionality Outputs reports in multiple file formats (PDF, Excel, CSV, etc.).		Export to common formats (Excel, PDF, CSV) described.
Full Audit Explanations in Reports Embeds explanations and rationale for report figures.		Reports described as embedding audit explanations for numbers and changes.

Comprehensive Audit Log Tracks all user, data, and calculation changes.		System has comprehensive audit logging of data and user actions.
Role-based Access Controls (RBAC) Customizes access based on user roles and duties.		Role-based user access specified for all modules.
Segregation of Duties Support Prevents conflicting roles or approvals.		Segregation of duties supported in workflow modules.
Internal & External Audit Evidence Extraction Eases data/document collection for audits.		Extracts evidence and documentation for audit purposes.
Change Approval Workflow Automates approval for parameter or process changes.		Change approval and process workflow automation mentioned.
Traceable Adjustment Entries All manual or system adjustments are linked to audit trails.		Manual and system adjustments are traceable to audit logs.
Automated Exception Monitoring Flags errors/issues with smart alerts and logs.		Exception monitoring and alert systems described.
Control Self-Assessment Tools Built-in testing and sign-off for control effectiveness.		No information available
User Activity Monitoring Tracks logins, data access, and update activity.		User activity monitoring, session logs, and updates logged.
Configurable Data Retention Policies Supports custom data retention in line with regulatory frameworks.		Supports configurable data retention in line with different regulators.

Intuitive User Interface Modern, easy-to-navigate, and customizable workspace.		Modern, web-based, user-friendly UI highlighted.
Multilingual Support Application interface available in multiple languages.		No information available
Help and Guided Tutorials Built-in help, walkthroughs, and documentation.		Includes help features and product documentation for guided onboarding.
Customizable Dashboards User-selected widgets, KPIs, and report layouts.		Customizable dashboards and KPI layouts referenced.
Advanced Search and Filter Tools Quickly finds contracts, reports, or data sets.		Advanced filtering/searching described as part of user interface.
Batch Task Processing Enables users to run multiple processes or jobs in one go.		No information available
Mobile Access Responsive or native mobile support for remote access.		No information available
Accessibility Features Supports screen readers, high contrast, and keyboard navigation.		No information available
Personalization Options Adapts look, feel, and shortcuts to user preferences.		Personalizable layouts and shortcuts noted.
Error Handling and Guidance Explains errors and suggests corrective actions.		Explains errors and suggested actions in UI.

Concurrent User Support Maximum simultaneous users without performance degradation.		No information available
Processing Throughput Peak calculation and reporting volume handled over a defined interval.		No information available
Elastic Scalability Dynamically adjusts computing resources based on current load.		Elastic cloud scalability directly described for resource allocation.
High Availability (HA) System uptime assurance via redundancy/failover.		High-availability cloud architecture and failover cited.
Disaster Recovery (DR) Resilience with backup, restore, and failover options.		Disaster recovery model part of SaaS platform offering.
Response Time Average response time for standard user actions.		No information available
Data Archiving Tools Automates offloading old data to maintain speed.		Data archiving and automated management referenced.
Performance Monitoring Dashboard Real-time visibility into system/storage/network health.		Performance, monitoring, and operational dashboards described.
Load Balancer Integration Supports distribution of requests for optimal performance.		No information available
Resource Usage Reporting Tracks compute, storage, and bandwidth use.		Provides resource usage and metric reporting for cloud deployments.

GDPR/CCPA Compliance Meets data privacy laws where required.		Compliant with international and EU privacy regulations (GDPR) per datasheet.
End-to-End Encryption Secures all network communication and data at rest.		End-to-end encryption at rest and in transit listed in cloud security.
Multi-factor Authentication (MFA) Requires multiple verification steps for sensitive actions/access.		Multi-factor authentication supported for secure access in documentation.
Single Sign-On (SSO) Support Integrates with corporate authentication providers.		Single-sign-on with corporate identity integration supported.
Regular Penetration Testing Routine testing for vulnerabilities and exposures.		No information available
Vulnerability Management Scans, prioritizes, and remediates security risks.		No information available
Custom Security Policy Configuration Allows organization-specific security rules.		Configurable security and access policies described.
Detailed Security Logs Logs all access attempts, permission changes, and suspicious events.		Detailed event and access logging highlighted.
User Session Management Tracks, expires, and audits user sessions.		Session management and auditing features referenced.
Incident Response Toolkit Facilitates fast mitigation of detected threats.		Incident response tools referenced in managed platform documentation.

Multi-cloud Support Can be deployed on all major cloud platforms (AWS, Azure, GCP, etc.).		Runs on all major cloud platforms – AWS, Azure, GCP.
On-premises Deployment Supports installation in user’s private data center environment.		Available as a managed cloud or on-premise install.
Hybrid Deployment Blend of cloud and on-premise resources.		Supports both cloud and on-prem/hybrid deployment patterns.
Containerization Support Enables deployment as Docker/Kubernetes containers.		Container deployment supported (Kubernetes, Docker).
SaaS Option Available fully as Software-as-a-Service.		SaaS model offered as default delivery.
Automated Patching & Updates Handles system updates and upgrades with minimal manual effort.		System patching and upgrades managed by vendor for cloud offering.
High-speed Deployment Tools Reduces rollout time and effort.		No information available
Disaster Recovery as a Service (DRaaS) Managed disaster recovery through cloud provider.		DRaaS is part of cloud platform managed service.
Geographic Redundancy Supports failover/data-sync across regions.		Platform supports regional redundancy and failover.
Automated Scaling Rules Configuration for resource expansion/contraction based on business rules.		Scaling rules configurable in cloud deployment documentation.

Configurable Business Rules Engine Allows business users to create or adjust rules without coding.		Business rules engine available for no-code configuration.
Plugin Framework Add new functions or integrations without disrupting core system.		Plugin/integration options described for add-ons and custom modules.
Custom Fields and Attributes Addition of company-specific data fields.		Custom fields and extensions supported for client schema.
API for Custom Integrations Public API enables quick integration with new systems.		API for integration with external and custom systems available.
Workflow Customization Tailors process flows for approvals, reviews, and escalations.		Workflow customization and approval flows described.
Custom Calculation Modules Users can design proprietary actuarial or finance formulae.		Custom calculation modules are documented as an extension route.
User-defined Reporting Create new report templates as business needs evolve.		User-defined reporting templates can be built by end users.
Localization Options Adapts solution for local language, currency, and regulatory context.		Localized configurations for currency, language and region supported.
UI Extensibility Customizes user interface components and branding.		UI extensibility – client branding and interface configurations accommodated.
Integration Marketplace Ecosystem for certified add-ons or partner solutions.		Integration marketplace with certified add-ons described.

Dedicated Onboarding Support Assistance for initial deployment and user training.		Vendor-provided onboarding, training and initial configuration support.
Standardized Implementation Templates Provides blueprints and best practices for rapid rollout.		Standardized templates and best practice blueprints available.
Migration Toolkits Automates conversion of legacy data and processes.		Migration from legacy systems and data mapping supported.
24/7 Support Availability Full-time technical and business support access.		24/7 support options listed as available depending on SLA.
Knowledge Base Access Self-service learning, FAQs, and documentation.		Self-service knowledge base and documentation provided online.
User Community Forums Peer-to-peer learning and solution crowdsourcing.		No information available
Release Notes and Change Documentation Detailed release impact and upgrade guidance.		Detailed release and change documentation available per update.
Service Level Agreement (SLA) Metrics Uptime, support response, and resolution guarantees.		Service Level Agreement (SLA) metrics described.
Designated Account Manager Named contact for ongoing engagement.		No information available
Continuous Training Programs Regular product and standard update training.		Continuous training programs and product update sessions available for clients.

Legerity FastPost IFRS 17 from Legerity

Product analysis by function

IFRS 17/LDTI Compliance Solutions for Finance and Accounting

Core Compliance (10 Yes /10 Known /10 Possible features)

Data Management and Integration (9 Yes /9 Known /10 Possible features)

Financial Calculation Engine (9 Yes /9 Known /10 Possible features)

Reporting & Disclosure (10 Yes /10 Known /10 Possible features)

Auditability and Controls (9 Yes /9 Known /10 Possible features)

User Experience & Usability (6 Yes /6 Known /10 Possible features)

Performance and Scalability (6 Yes /6 Known /10 Possible features)

Security & Compliance (8 Yes /8 Known /10 Possible features)

Cloud and Deployment Options (9 Yes /9 Known /10 Possible features)

Extensibility and Customization (10 Yes /10 Known /10 Possible features)

Implementation & Support (8 Yes /8 Known /10 Possible features)