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Provision Missing To Accommodate Experience Adjustments For Premium Receipts (Doc ID 2829499.1)

Last updated on DECEMBER 26, 2021

Applies to:

Oracle Insurance Accounting Analyzer - Version 8.0.6 and later
Information in this document applies to any platform.

Goal

The Reconciliation Output template for LFRC is currently missing a placeholder to accommodate the experience adjustment in premiums that relates to current or past service, which should go to the P&L as insurance revenue.

This requirement is per IFRS 17 standard para B124(d) which breaks down the components for insurance revenue.
 

Solution

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In this Document
Goal
Solution
References


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