ACTOMATE
LRC ROBOT
LRC Robot is an IFRS 17 robot that helps insurers analyse data and generate reports for Liability for Remaining Coverage (LRC), in line with IFRS 17 requirements. It streamlines LRC financial reporting by automating the workflow from input upload and actuarial analysis to LRC account, journal posting, trial balance, and chart of accounts outputs. Users can enter key setup fields such as company name, report dates, reporting currency, and projection period, upload the required CSV input files, run calculations, and download structured results. The app organises LRC reporting outputs by total company, portfolio, class, and subclass, with views in both the functional and reporting currencies. The robot includes PAA and GMM views to support IFRS 17 reporting processes for different measurement approaches. By reducing manual spreadsheet work and showing the calculation flow in a controlled interface, LRC Robot helps actuarial, finance, and reporting teams improve accuracy, consistency, and traceability.
IFRS 17 LRC reporting
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Analyses data and generates reports for Liability for Remaining Coverage (LRC), in line with IFRS 17 requirements
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Supports LRC reporting views by total company, portfolio, class and sub class
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Provides functional currency and reporting currency views for easier review and reporting
actuarial analysis
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Displays relevant calculation steps before generating LRC accounts.
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Processes inputs such as premium register, cash register, earning patterns, interest rates, actuarial and accounting parameters, opening balances and manual adjustments
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Supports calculation review through PAA / GMM views, intermediate tabs and result tables.
accounting outputs
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Generates LRC and OCI accounts, journal postings, trial balances and chart of accounts outputs.
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Provides downloadable results by total company, portfolio, class and sub class.
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Supports actuarial, finance and reporting teams in reconciliation, review and IFRS 17 reporting preparation.
Download IFSR 17 Flyer for more information
Who Can Use It
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Actuarial teams for LRC analysis and IFRS 17 calculation review.
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Finance and accounting teams for journal postings, trial balances, and the chart of accounts outputs.
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Financial reporting teams for IFRS 17 underwriting statement preparation.
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Management teams for monitoring and reviewing IFRS 17 reporting readiness.
Why It Matters
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Help insurers manage complex IFRS 17 calculation and reporting requirements.
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Supports faster coordination between actuarial, finance and reporting teams under tight deadlines.
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Reduces reliance on manual spreadsheet processes and repeated manual reconciliation.
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Provides a structured workflow that improves transparency, consistency, and traceability.
PRACTICE LEADER
Nicholas Yeo
FIA FASM FSA FSAS FSAT
創設者＆アクチュアリー
Jone Keat joined Actomate in 2020, he is the Technology Development Lead of the company. He has over 5 years of experience serving as a programmer and software developer in the actuarial industry. Jone Keat has practical experience in both the software development and actuarial works including frontend and backend web applications, application programming interface (API), database, and actuarial valuation in Malaysia.
Jone Keat is proficient in R, Visual Basic for Applications (VBA), HTML and CSS, and he is learning Javascript and Rust programming languages. He is also proficient with actuarial applications and automation tools such as Excel, Data Conversion System (DCS) and Data3Sixty. He has worked on several software development projects, including ReACC Robot for reinsurance accounting, LRC Robot, LIC Robot for IFRS 17, and job recruitment application. To better understand our client needs, Jone Keat is proactively involved in actuarial valuation projects of general insurance. Jone Keat is also an experienced trainer, he has developed training materials and conducted technology trainings to internal staff.
Jone Keat has prior work experience in the economic database company, to ensure the accuracy and timeliness of the economic data and financial forecast. In his prior experience, Jone Keat is equipped with knowledge of building automation tools to enhance the efficiency of the operations, and modelling time series.
Jone Keat graduated from Universiti Tunku Abdul Rahman with a BSc (Hons) in Actuarial Science. He is currently studying towards attaining Fellowship of the Casualty Actuarial Society (CAS).