Clearwater conducted an industry survey in 2020 to examine the readiness of the industry for IFRS 9. While the effective date for IFRS 9 has been delayed along with IFRS 17 to January 2023, the survey reveals that there is plenty that insurers should be doing now to be ready for IFRS 9 and 17.

The survey findings published in this report highlight two primary conclusions:

• Data presents the primary challenge to those implementing IFRS 9
• Insurers should start their preparation and implementation tasks now