Expertise in Insurance
Our main goal is to support our insurance clients in navigating through an increasingly complex regulatory environment. The solutions we provide for our clients are efficient, integrated and pragmatic and are based on outstanding technical competency.Industry Knowledge
Intensifying competition, increasing regulatory requirements as well as new solvency regulations, changes to accounting standards and the trend towards market concentration all signal major challenges ahead for Swiss insurance companies.
Efficient, Pragmatic Solutions
The insurance industry is responding to this by making strategy adjustments, including focusing on core competencies, searching for growth opportunities or restructuring product portfolios. Additionally, emphasis is being placed on improving operational and financial efficiency through reorganization, process optimization and cost reduction programs. The consolidation of hitherto largely independent functions - such as Asset Liability Management, Actuarial, Risk Management and Finance - to create integrated, efficient and economical financial management is also intended to improve profitability.
Furthermore, the different risk and assurance functions (Risk Management, Compliance, Internal Control Systems, Quality and Internal and External Audit) are now being combined into one integrated concept – Risk Convergence, where the security of the company as a whole is the most important issue. This takes the burden off line managers, the management and the Board of Directors, lowers regulatory costs and avoids redundancies.
Competence and Client Proximity
Ernst & Young has the fastest growing insurance practice in the audit and advisory market in Switzerland and the country’s largest actuarial organization. Over 100 employees serve Switzerland’s largest insurance companies and work exclusively in the following areas: life, non-life, reinsurance and health insurance as well as pension funds, AHV compensation and family allowance offices.
Our team is a balanced mix of experienced insurance advisors and auditors combined with experts from the insurance industry. Our specialists in IFRS, Actuarial/Embedded Value, Risk Management and IT are ranked among the very best in the insurance industry. Their understanding of the insurance industry and their feel for the insurance business reality goes far beyond mere technical expertise and familiarity with rules and regulations.
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