WTW has earned InsuranceERM's highly commended recognition in the Asia Pacific awards for its IFRS 17 Enterprise Solution.

This end-to-end reporting platform bridges the gap between actuarial and accountancy outputs to help P&C, life and composite insurers achieve the new accounting standard in a streamlined, cost effective and efficient way.

A WTW spokesperson tells InsuranceERM "The WTW IFRS 17 Enterprise Solution offers a fully automated end-to-end solution that delivers 'out of the box' IFRS 17 reporting and efficiency, in a governed and auditable environment. This saves time and money, and allows experts to be deployed on higher value tasks."

The judges liked the tool's modular concept and implementation approach. In addition, it gives users the flexibility to integrate the solution with systems they already have, adding components at a later date or even in a business-as-usual environment, where significant improvements might still be required in business processes and finance operations to deliver IFRS 17 efficiently.

After successfully undertaking first-time implementations with IFRS 17 Enterprise Solution in Asia Pacific region and EMEA, it was also commended that WTW continues to see strong demand for the product with 10 new clients signed up in the past year.

The system's high level of automation within client IT environments ensures comprehensive financial results reporting with minimal manual intervention.

Positive client testimonials highlighting the automation and user-friendliness of the solution further emphasised the case for recognition.