• The political landscape and policy uncertainty

    Insurance Governance Leadership Network participants met recently to exchange views on the changing US political landscape and the potential effects on the insurance sector.

  • The transformation mandate for insurers

    Insurance Governance Leadership Network participants met recently to discuss the complexity and sustainability of enterprise transformation and the role of the board in these efforts.

  • Using behavioral analytics to drive customer value

    By applying analytics that assess both the characteristics and behaviors of their customers, insurers have powerful tools to meet higher customer expectations.

  • Innovation creating value in the insurance industry

    EY co-hosted a workshop with the Hong Kong Federation of Insurers (HKFI) on “Innovation creating value in the insurance industry” in the Asian Financial Forum.

  • 2017 Latin American insurance outlook

    Despite the dramatic economic downturn in the region in the past three years, insurers in the region have remained profitable and are poised for growth.

  • 2017 European insurance outlook

    Against a backdrop of political, economic and regulatory change, European insurers must rethink their strategies, products and business models to prepare for a transformed marketplace.

  • Ground rents: an opportunity for diversification

    In the current low-yield environment, ground rents are an asset class that offers attractive spreads and long-term cash flows with additional security.

  • 2017 Asia-Pacific insurance outlook

    We expect the Asia-Pacific market to remain in transition this year, as economic, technology, customer and regulatory forces combine to remake the regional playing field.

  • Cyber strategy for insurers

    When designing an organizational framework, insurers must assess specific risks while balancing their risk cultures and appetites with governance and compliance issues.

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.


  • Are you ready for Solvency II?

    At the recent Trilogue meeting, the European Commission proposed a deferral of the implementation date of Solvency II to January 1, 2015, but the proposal did not reach consensus.

    Are you ready?


  • Actuarial and risk management strategies

    Never has it been more critical for companies to understand and stay in tune with the changing climate of their business. Companies want to achieve competitive advantage and adapt quickly to the evolving business environment. Yet, there is a growing gap between the volume and complexity of risks that companies face today and the techniques available to manage them. We can help fill those gaps by providing services that can enhance your company's decision-making.

    We combine global insight and local reach to assist financial services and insurance clients in developing and validating strategies to make sound decisions. The outcome of this collaboration is important to the success of your enterprise.

    Our areas of focus include the following services:

    • Actuarial transformation
    • Actuarial review
    • Actuarial operations
    • Changes to financial reporting methods
    • Performance improvement


    Related content

  • Be prepared for IFRS/accounting changes

    We are increasingly living in a global economy — with trade and inbound and outbound investment a fact of life. It's no wonder capital markets have long advocated for globally recognized accounting standards.

    Until recently, that common accounting language has been a missing link. Now, policymakers, lawmakers and regulators are working alongside standard-setters to provide a single set of high-quality, global accounting principles.

    Benefit from our timely insights as your prepare for this transition.

  • Customer agenda

    The buying behaviors, attitudes and preferences of insurance customers worldwide are changing. To understand this transformation, insurers need to determine how they must adapt to attract, deepen and preserve customer relationships.


  • Governance facing the industry today

    We, along with Tapestry Network, established the Insurance Governance Leadership Network (IGLN), a global network centered around non-executive directors from a select group of the largest insurers from Europe, North America and Asia. The IGLN provides a peer-to-peer platform for participants to discuss critical issues facing the industry globally. Its primary focus is the non-executive director, but it also engages senior management (notably chief risk officers) and regulators, all of whom are committed to outstanding governance and supervision in support of the mission to build strong, enduring, and trustworthy insurance institutions.

    Tapestry Briefings – A View from the Boardroom:

     

  • 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?

    According to our latest research, insurers could get much greater value by changing their approach.

    Our survey "Delivering results through claims technologies" explores the challenges and opportunities of investing in claims technologies in France, Germany, Italy, Spain and the UK.

    Related content



Contact us

EY - Sumit Narayanan Sumit Narayanan
Asean Insurance Leader
Contact  | +65 6309 6452

Connect with us

Stay connected with us through social media, email alerts or webcasts. Or download our EY Insights app for mobile devices.

Innovation creating value in the insurance industry

EY - Innovation creating value in the insurance industry

EY co-hosted a workshop with the Hong Kong Federation of Insurers (HKFI) on “Innovation creating value in the insurance industry” in the Asian Financial Forum.

Financial Services Briefing – Issue 3, 2016

EY - Financial Services Briefing – Issue 3, 2016

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

Contact us

Mak Keat Meng
Insurance industry leader
Singapore
Tel: +65 6309 6738

Contact a number of our local team

EY CRO Roundtable Series

ERM implementation for Singapore Insurers
The Monetary Authority of Singapore issued MAS Notice 126 on Enterprise Risk Management for Insurers (pdf, 1.1mb) which will be effective from 1 January 2014.