Le Lézard
Classified in: Science and technology, Business
Subject: CON

Fidelity Life selects Legerity's IFRS17 SaaS solution

LONDON, Dec. 6, 2021 /PRNewswire/ -- Fidelity Life, New Zealand's largest locally owned life insurer, has selected Legerity's FastPost Express for IFRS17 solution to help it transition to the new International Financial Reporting Standard (IFRS17).

Fidelity Life has embarked on a bold transformation to reimagine life insurance for New Zealanders. Underpinned by a relentless customer focus and a digital-first mindset, the transformation aims to deliver sustainable growth, build trust, and help Fidelity Life deliver on its promise of protecting New Zealanders' way of life.

IFRS17 takes effect from January 2023 and is one of the most significant changes to accounting in the insurance sector in years.

FastPost Express for IFRS17 is an award-winning accounting rules platform. SaaS-delivered with best practice, out of the box configuration, it provides a fast and effective route to deliver this new complex accounting standard for all sizes of life, general and reinsurance firms.

Simon Pennington, Chief Financial Officer at Fidelity Life commented: "When reviewing solutions in the market we identified Legerity FastPost as one of the most complete and technically advanced IFRS17 solutions, and one that closely aligns to our requirements. Legerity has quickly established themselves as a trusted partner and we have been impressed with their deep knowledge and flexible, supportive approach."

Jeremy Wood, CEO at Legerity, adds "We are delighted to have entered into this partnership. Fidelity Life is undergoing a whole-of-business transformation, while navigating fast- changing regulatory, technology and customer landscapes. FastPost provides Fidelity Life with a highly scalable platform to deliver both IFRS17 accounting change and support wider finance transformation initiatives."

About Fidelity Life

Fidelity Life is all about giving New Zealanders certainty to enjoy a more rewarding life. We're New Zealand's largest locally owned life insurer and the 2017, 2018 and 2019 ANZIIF New Zealand Life Insurance Company of the Year. We've paid more than $1.2 billion in claims since we were founded in 1973, employ around 290 people and distribute our products through a network of 2,000+ financial advisers and distribution partners.

For more information please visit www.fidelitylife.co.nz  

About Legerity

Legerity helps clients deliver digital finance transformation and complex accounting change. FastPost Express is an enterprise-grade, SaaS-delivered IFRS17 solution that won InsuranceERM's IFRS17 Solution of the Year award in February 2021.


Contact: Mike Richardson, 07949 186358, mike.richardson@legerityfinancials.com

These press releases may also interest you

at 05:31
Ascletis Pharma Inc. (HKEX code: 1672) today announces the dosing of the first patient in the Phase III registration clinical trial of ASC40 combined with bevacizumab for treatment of recurrent glioblastoma (rGBM). ASC40 is an oral, selective...

at 04:05
Cellcom Israel Ltd. announced today that an Extraordinary General Meeting of Shareholders (the "Meeting") of Cellcom Israel Ltd. (the "Company") will be held on Monday, February 28, 2022, at 16:00 p.m. (Israel time), at the offices of the Company,...

at 04:00
Leading Dutch floating engineer Jan Willem Roe?l is internationalising his firm, FlexBase, through the launch of an international office to address global markets, in Singapore. The firm will initially focus on the Southeast Asia and subsequently the...

22 jan 2022
POWERHANDZ is a global athletic training and rehabilitation product tech company transforming the way athletes and patients improve human performance through the combined use of smart sports products, technology and services for any stage of life....

22 jan 2022
The game-changing BLUETTI AC200 power station was initially released to the public on July 1st, 2020. After pulling in a staggering $6.7M US dollars on the crowdfunding platform Indiegogo and having sold tens of thousands of units over the past year,...

22 jan 2022
Natera, Inc. , a leader in personalized genetic testing and diagnostics, today announced new data recently presented on the clinical utility of Signatera, its personalized and tumor-informed molecular residual disease (MRD) test, at the American...

News published on 6 december 2021 at 06:23 and distributed by: