LDTI with PwC and Workiva: Tailor your tech and collaborate with confidence
The challenge
Insurers face a disruptive and data-intensive FASB accounting policy change known as the Long Duration Targeted Improvements (LDTI) standard. With revisions to key elements of the measurement models and disclosure requirements for long-duration insurance contracts issued by insurers and reinsurers, the FASB’s objective was to improve, simplify, and enhance accounting for long duration contracts.
Insurers are expected to spend more than $2 billion* to comply with the LDTI standard — the most disruptive accounting change for insurers in 40 years. PwC can help.
Greet tomorrow with PwC and Workiva
Harmonize your data
LDTI requires intensive use of data, new assumptions and a higher frequency of calculations. Your reporting and controls will likely need to be much more robust. We can help you tap the full value of Workiva to help build a single source of data.
Communicate confidently
Under LDTI, calculations change, reporting changes, and your risk changes. A central Workiva hub for data and disclosures allows you to confidently communicate performance to stakeholders. No more cobbling together reports to investors or the board from email.
Collaborate efficiently
Actuaries, accountants and IT: Everyone needs to be on the same page to manage the complexity of the transition. The native functionality of the Workiva platform enables collaboration among all key stakeholders. PwC helps you realize the power of the Workiva platform in the context of LDTI.
Discern and decide
LDTI is transforming the financial profile of insurance products and companies. Organize your data in the Workiva platform to help discern your strategic opportunities through M&A, product reprice and hedging. PwC brings deep expertise to help create the analysis to make data-driven decisions.
The New Equation to unlock the potential of data
From financial reporting to regulatory compliance, PwC plus Workiva is an equation for growth. We understand how to leverage the connected reporting functionality of the Workiva platform to help harness the data necessary for internal and external financial reporting. Through our knowledge of the Workiva platform and industry perspective, we can support experience studies, assumption documentation and control design updates. Workiva plus PwC, solving for tomorrow.
Related content
Follow us
Contact us
