Reflecting on AASB17 First APRA Connect Submission - What Insurance Data Transformation (IDT) could mean for your team

With the first APRA submissions incorporating the AASB17 changes having been completed, it is optimal to reflect on observations and learnings from the industry. Many have citied to our team that this may not be the right time to take your project team and focus from what is on the regulatory change agenda, namely Insurance Data Transformation (IDT). We will present some of the observations of what RegCentric noticed during the December submissions.

Note on 12 October 2023, that APRA and the Australian Securities and Investments Commission (ASIC) released joint discussion papers on their proposed enhancements to the general and life insurance data collections. APRA and ASIC are seeking to jointly build a more granular data collection for the insurance industry through the Insurance Data Transformation (IDT) project.

As with all ‘enhancements’ that APRA announces, the detail may seem overwhelming, and we will unpack what this project means for the industry based on our years of experience in this disipline. We’ll also provide some of our learnings from implementing similar enhancements in the ADI and Super industries.

RegCentric Industry Webinar: Reflecting on AASB17 First APRA Connect Submission - What Insurance Data Transformation (IDT) could mean for your team

Who should attend?

Join this session if you are involved in:

• Key decision-making on regulatory reporting      reforms (CFO, CRO, Reporting, Business operations, Data governance)
• Regulatory Reporting team
• Process governance, risk, and controls
• Those interested in hearing how other industries have faired with their APRA      transformation activities

Webinar Agenda

In this session we will cover:

• Review and learnings from the first AASB17 submissions
• General Insurance Data Transformation – key points
• Life Insurance Data Transformation – key points
• Timelines to present and expected
• Key considerations in managing the change
• Best practice suggested project timeline and approach