CAA Club Group of Companies selects Aptitude Software’s IFRS 17 Solution

PR Newswire

Solution flexibility and finance expertise key for the Canadian Insurer

LONDON, Feb. 9, 2021 /PRNewswire/ -- Aptitude Software, a leading provider of financial management solutions, is delighted to welcome CAA Club Group of Companies as its newest Canadian Insurance client. They join an established global group of insurance clients.

CAA Club Group selected Aptitude's IFRS 17 Solution based on its flexibility and incorporation of expertise and knowledge gathered from many successful implementations. Out-of-the-box capabilities such as IFRS 17 Models, Accounting Events and Disclosures will reduce the risk and cost of implementation.

The CAA Club Group of Companies is comprised of two automobile clubs, CAA South Central Ontario and CAA Manitoba, providing roadside assistance, travel, insurance service and member savings for over 2.2 million members. It also includes the CAA Insurance Company, a national property and casualty insurance company; the Orion Travel Insurance Company; and Echelon Insurance, a specialty insurer. CAA Insurance, Echelon Insurance, and Orion Travel Insurance have selected the Aptitude IFRS 17 Solution to support their compliance program.

CAA Club Group is part of the Canadian Automobile Association, (CAA) a federation of eight independent Clubs, and one of Canada's largest consumer-based organizations, serving over six million members.

Apra Sekhon, Chief Innovation Officer, CAA Club Group, remarks, "The strength of Aptitude's references, the completeness of their IFRS 17 Solution and the specialist nature and focus of their organization was important to us when making this decision. Their deep understanding of the Insurance industry and the IFRS 17 standard will help us implement the standard faster than other vendor alternatives."

Alex Curran, EVP North America, Aptitude Software, states, "We are seeing more and more P&C carriers come to market searching for an IFRS 17 solution. Our ability to showcase our IFRS 17 expertise - especially in the PAA method - was critical to win the trust of CAA."

Aptitude has two products to accelerate IFRS 17 compliance. Aptitude's IFRS 17 Solution is the most mature solution on the market and is the solution of choice for many insurers across the globe looking to comply with the standard and support broader business benefits. IFRS 17 Comply is a SaaS solution designed for rapid compliance.

Recently, Aptitude was named a Category Leader by Chartis in the Insurance Risk Systems for IFRS 17 and LDTI Compliance, 2020: Market Update and Vendor Landscape.

About Aptitude Software

Aptitude Software provides software solutions that enable finance professionals to run their global businesses, forecast decision outcomes and comply with complex regulations. Uniquely combining deep finance expertise and IP rich technology, Aptitude gives finance leaders the tools they need to transform their business and achieve their ambitions. Aptitude Software is an operating company of Aptitude Software Group plc.

Please visit: https://www.aptitudesoftware.com

About CAA Club Group

For over a hundred years, CAA has been helping Canadians stay mobile, safe and protected. The CAA Club Group of Companies is comprised of two automobile clubs, CAA South Central Ontario and CAA Manitoba, providing roadside assistance, travel, insurance service and Member savings for over 2.2 million members.

It also includes the CAA Insurance Company, a national property and casualty insurance company; the Orion Travel Insurance Company; and Echelon Insurance, a specialty insurer.

Please visit: https://www.caasco.com/about-us/corporate-news