1.6 About Oracle Insurance Accounting Analyzer Application Pack

IFRS17 is an international norm that supersedes the current reporting standards, IFRS 4. The new standard provides users of financial statements with a new perspective on the financial accounts of insurance companies. Oracle Financial Services Insurance Accounting Analyzer application enables insurance companies to adhere to the disclosure requirements as proposed under IFRS 17 with an ability to compute Contractual Service Margin and Net Liabilities.