SAICO Forges Ahead With Implementing IFRS 17

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As one of the first movers in the market, Saudi Arabian Cooperative Insurance Co (SAICO), a non-life insurer, was looking for an experienced and established vendor to help them manage the complexities and scale of IFRS 17.

After a thorough assessment of the market, they chose FIS’ innovative end-to-end solution. The IFRS 17 toolkit allows for rapid implementation of the solution in a timely manner will enable them to meet IFRS 17 head on, plus any future regulatory and governance requirements.

“We are pleased to announce our partnership with FIS. We were particularly impressed with Prophet’s completeness of offering across actuarial modelling, data management, reporting and accounting.” Mohan J. Varghese, Chief Financial Officer, Saudi Arabian Cooperative Insurance Company, commented.

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