Insular Life Is Scaling Up for IFRS 17 with Prophet
To meet IFRS 17 reporting requirements, Insular Life is expanding its partnership with Prophet.
As the first and largest Filipino life insurance company and the only mutual in the Philippines, Insular Life has used FIS’ award-winning actuarial system Prophet for more than two decades.
Now, by moving to our robust, scalable Prophet Enterprise solution and its integrated Prophet Data Management Platform (PDMP), Insular can easily handle the higher volumes of more detailed data required for IFRS 17 reporting.
As well as helping Insular process actuarial data more effectively, PDMP will strengthen data governance and control for more accurate results and improved analytics.
“We are delighted to extend our partnership with FIS,” said Jesselyn V. Ocampo, Chief Actuary & Head of Administrative Operations Group 1 - Technical, Insular Life. “With Prophet Enterprise and PDMP, we can greatly augment our risk management framework for compliance with IFRS 17, while reducing errors and operational burden.”
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