IFRS Insurance - Why start planning the communication strategy now? Part 2
The communication strategy: Part 2:What actions to take?
Now is the time to develop your communications strategy on IFRS Insurance impacts. Boards, senior management and investor relations teams are all responsible for engaging with the market, and will benefit from early preparation.
What actions to take?
- Embed the outcomes of the insurer’s IFRS impact study into the Investors Relations communication strategy
- Educate senior management to the new metrics and how past performance and known strategy are portrayed under the new capital and profit reporting requirements
- Consider how to Integrate the implementation progress with the formulation of the strategy and planning and their impact on the insurer’s forward looking statement and market guidance
- Proactively present the business benefits from the planned implementation efforts in addition to achieving full compliance