Address LDTI Implementation Challenges with Solutions Tailored to Your Needs
The latest FASB update is considered to be the biggest change to GAAP accounting for life insurers since the introduction of FAS 60 in the early 1980s. FASB Accounting Standard Update 2018-12, Targeted Improvements to the Accounting for Long-Duration Contracts (LDTI), could potentially change the trajectory and pattern of how profits are recognized on life insurance contracts. The principle-based nature of LDTI means there’s a lot to consider and even more to do to ensure requirements are implemented on time and budget.
Our suite of LDTI implementation advisory services is tailored to meet your needs. From initial assessments, project management, and accounting policy solutions to data validation and analysis, BKD Trusted Advisors™ are ready to help. We know a one-size-fits-all approach won’t work with your cross-functional needs. That’s why we start by listening and then work closely with your organization to help ensure we’re methodically addressing your pain points.
Looking for more information on LDTI? Check out our insightful article Five Reasons Private Life Insurers Shouldn’t Dismiss LDTI or contact us today to learn more about how we can help you implement LDTI requirements efficiently, effectively, and promptly.