Wolters Kluwer announces that Hotai Insurance has adopted CCH® Tagetik IFRS 17 expert solution to meet the requirements of IFRS 17 and automate its data processes for timely reporting. The project will be jointly led by the Taiwanese partner, Anhou Enterprise Management Co. Hotai Insurance has five subsidiaries throughout Taiwan, specializing in various types of property, automobile, fire, cargo, engineering, liability, injury and health insurance.

IFRS 17 goes into effect on January 1, 2023, and it is expected that Taiwan will officially implement this international standard in 2026. Following a critical evaluation of various vendors, Hotai recognized the complexity and challenge of the IFRS 17 requirements, and selected CCH® Tagetik as the best software solution for accelerating its related financial transformation. Recently recognized by industry analyst Chartis Research as a leader in their 2022 IFRS 17 Market Update and Vendor Landscape report, the CCH® Tagetik IFRS 17 software solution provides a standard process for data preparation, calculation and recording of accounts, reporting and disclosure, including integrating external systems.