The document discusses how the new IFRS 17 accounting standard presents insurers an opportunity to transform their business model and processes. It recommends leveraging new technologies like cloud computing and analytics to establish data quality, automate accounting processes, and generate insights to comply with IFRS 17 while reducing costs and maintaining competitiveness. Oracle's integrated cloud suite can help insurers streamline data management and reporting to meet IFRS 17 requirements more efficiently and support sustainable growth. Working with Deloitte, Oracle can reduce the risks, costs and time of IFRS 17 implementation for insurers.