• Insurance Accounting Alert May 2017

    The IASB has issued IFRS 17, a comprehensive new accounting standard for insurance contracts. Here’s what you need to know.

  • The insurance agent of the future: Korea

    We surveyed 300 insurance agents in Korea to understand the challenges of digital disruption and changing consumer preferences – and the potential future of distribution.

  • The insurance agent of the future: Korea

    We surveyed 300 insurance agents in Korea to understand the challenges of digital disruption and changing consumer preferences – and the potential future of distribution.

  • Digital transformation in insurance

    In an era of digital disruption, the traditionally slow-moving insurance sector must invest more in innovation, learn to experiment more and fail faster.

  • Digital transformation in insurance

    In an era of digital disruption, the traditionally slow-moving insurance sector must invest more in innovation, learn to experiment more and fail faster.

  • Solvency II and life reinsurance

    Increased freedom under Solvency II means insurers can recognize 100% of reinsurance benefits in their capital calculations, increasing the attractiveness of reinsurance for insurers.

  • Financial Services Briefing

    Bringing together the latest in EY’s insights and thought leadership for financial services.

  • Global insurance M&A themes 2017

    Three trends are likely to dominate the year: portfolio optimization, technology-driven investment and ongoing consolidation. Learn the critical success factors for each.

  • Aviation finance as a long-term investment

    Insurance companies and pension schemes can play an important role in meeting the high demand for finance in the aviation space.

Financial Services

Global insurance: vast potential

The global insurance market is remarkably strong, despite continued fallout from the financial crisis. Low interest rates coupled with relatively poor investment returns have impeded growth, but demand for insurance products and services remains high.

We keep you prepared by providing insights into the nuances of your market, as well as global trends putting pressure on the industry.

Stay nimble amid risk and regulation

Waves of global legislation continue to pressure management and absorb precious resources. Combined with the need to innovate in a highly competitive environment, this is causing some insurers to withdraw from long-standing core markets and product lines.

However, insurers are adapting by leveraging technology and developing operating models that are compliant with Solvency II. New business architectures will enable insurers to release better products more quickly and cheaply.

Gain market insight

The balance of power is shifting toward the customer, and distribution models are rapidly evolving. Emerging markets in Latin America, Asia, Africa and Eastern Europe are future battlegrounds that offer big prizes – but only if insurers can get it right.

Success will be achieved with patience, long-term investment and genuine understanding of local dynamics.


  • Operations and technology: implementing efficiencies

    In recent years, a new generation of technologies has created a renewed appetite amongst insurers for using IT to manage claims more effectively.

    Yet there are still a large number of challenges to be overcome in delivering the anticipated business benefits. Are you achieving the improved claims performance you need from your IT investments?

    Related content

    • Claims transformation

      Our offerings enable transformational or step changes in claims capabilities. Our expertise and analytical insight can help you achieve better claims outcomes and expense management.

    • Policy administration and billing

      Insurers are under constant pressure to reduce underwriting operations costs, while continuing to grow their customer base without increasing headcount. They also face tougher demands from producers and customers who want faster quoting, more accurate policy issuance, diversified billing and payment options and real-time self-service capabilities.

    • Product development and delivery

      Incompatible systems, organizational silos and disjointed processes perpetuate costly and low- quality product development approaches. As a result, many insurers have redundant product portfolios that complicate underwriting, operations and claims processes.

      As insurers look to refresh and expand their products, these issues restrict their ability to react to market changes and satisfy their customers. Product design and delivery architecture are central to innovation and fulfilment across the insurance enterprise, and they must be integrated into both business processes and technology solutions.

      We can help your organization take the following steps to develop a robust suite of products designed for specific customer needs.

    • Underwriting and pricing effectiveness

      Given unrelenting economic uncertainty and prolonged low interest rates, insurers face significant profit- and growth-related pressures and thus must improve the efficiency and effectiveness of their underwriting capabilities.

      One way to improve risk selection and pricing is leveraging data to embrace more sophisticated segmentation. However, success will ultimately depend on adopting enhanced analytical and modelling techniques.



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Insurance Agenda - Issue 1, 2017

EY - Insurance Agenda - Issue 1, 2017

Designed for the Oceania Insurance community, this regular publication features the latest in insurance thought leadership produced by EY.