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Income Insurance Singapore

All the insurance companies are moving towards the adoption of the latest IFRS standards. IFRS 17 requires a company to measure insurance contracts using updated estimates and assumptions that reflect the timing of cash flows and any uncertainty relating to insurance contracts. As a part of this activity, the company needs to migrate humongous historical and parameter related data to the new regime, as well as migrating the system from the old standards to the new standards. Income prioritized this activity in the year 2022-2023. They needed technological guidance in the data migration and transformation to execute the data and systems movement.

Challenges

Tech Stack used to solve challenges

Solution we provide

We, along with our technology partners helped the client building the data transformation and migration pipelines to transform and move data across data lakes. We ran completed this activity in the duration of 6 months. Client was happy with the end result.