Case Study: Hastings Group achieves IFRS 17 compliance with insightsoftware FastPost

How Hastings Group Transitioned to IFRS 17 Accounting Standard With FastPost

Hastings Group, a UK-based consumer insurance provider, needed to transition to the IFRS 17 accounting standard while preserving its existing month-end reporting process and aligning with a cloud-first data strategy. Working with insightsoftware, the company evaluated software that could meet IFRS 17 compliance requirements, support its Gibraltar insurance operations, and provide consolidated Group results to its parent company, Sampo plc.

insightsoftware implemented FastPost, a cloud-native SaaS accounting rules platform, to deliver IFRS 17 actuals, forecast calculations, and subledger-level data granularity. The solution was deployed and configured in ten months, enabling Hastings Group to go live in December 2021, complete its change and test cycle during 2021, and establish IFRS 17 opening balances ahead of many peers with comparatives beginning in 2022.

Hastings Group

John Worth

Group CFO