In practice, this can put companies in a vulnerable position where many of the new risks are not yet identified and/or fully understood, controls that have been set up lack proper documentation and governance and are performed manually in a spreadsheet creating more risks of errors. Good risk management requires a solid understanding of all of these new risks as well as a proper set of preventive, detective and corrective set of controls. Being able to set up a proper risks & controls analysis can be extremely valuable to insurance companies and can help get to the next stage of understanding and communicating financial results in this new LDTI / IFRS 17 world.