FinanceMarch 29, 2022

Wolters Kluwer named a Category Leader in the 2022 Chartis IFRS 17 and LDTI Market Update and Vendor Landscape report

CCH® Tagetik IFRS 17 and LDTI expert solutions earn
Wolters Kluwer Category Leader status in both Accounting Systems and Data Management in the Chartis RiskTech Quadrants® for IFRS 17/LDTI compliance

Wolters Kluwer, a global leader in professional information, software solutions and services, today announced that it has been named in the Chartis Research IFRS 17 and LDTI Solutions, 2022: Market Update and Vendor Landscape report for its CCH® Tagetik expert solutions. Chartis highlights Wolters Kluwer as a Category Leader in three vendor quadrants in the report: IFRS 17 Data Management & Reporting, IFRS 17 Accounting Systems, and LDTI compliance systems.

While insurers work toward the deferred 2023 implementation date, the Chartis Market Update and Vendor Landscape evaluated 14 vendors on the breadth of their IFRS 17 and Long Duration Targeted Improvement (LDTI) capabilities based on their market potential and completeness of offering. Wolters Kluwer has been noted as “best-in-class” or “advanced” in ten out of eleven capabilities considered across the quadrants – among the highest of any vendor. The full report can be found here.

The research focuses on the deep structural changes which IFRS 17 and LDTI will make, and the technology demands which will arise as a result. An accompanying survey, which features in the report, was conducted in Q3 2021 among senior decision makers drawn from a broad spectrum of insurers in different regions. Respondents represented different stages of IFRS 17/LDTI implementation, from design and planning to fully operational.

“The approach to risk in organizations has been particularly affected by the COVID-19 pandemic, and modernization projects have certainly accelerated in response,” said Ralf Gärtner, Senior Vice President and General Manager of Corporate Performance Solutions, Wolters Kluwer Tax & Accounting. “Chartis’ recognition of our market leadership position highlights our agility in extending the CCH® Tagetik platform to solve our customers’ most pressing needs. We are happy to help insurers work towards IFRS 17 and LDTI compliance in a rapidly-shifting context.“

CCH® Tagetik expert solutions manage global requirements across all industries by unifying and streamlining financial close & consolidation, integrated business planning, and regulatory compliance processes. CCH Tagetik IFRS 17 and LDTI expert solutions simplify compliance for IASB and FASB requirements. Quick and easy to implement, the pre-configured solutions are scalable and flexible to both changes and evolutions in the standards and to meet the needs of each individual customer. With a high-performance data engine, pre-built and extendable data model and calculations, and robust reporting and disclosure tools, the CCH® Tagetik platform enables digital transformation helping insurers meet the ever-increasing reporting requirements.

About Wolters Kluwer

Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the health, tax & accounting, governance, risk & compliance, and legal & regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services.

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