Analytics is an essential tool to help insurers remain competitive but traditional insurers are struggling to get access to the data to enable advanced analytics.
If data is the fuel for analytics, how can incumbent insurers ignite their business?
What should insurers do today to prepare for tomorrow?
Financial Services Briefing
Insurance Accounting Alert – November 2018
Digital. Human. Do we have to choose?
Insurance Accounting Alert – June 2018
EY and Guardtime launch Insurwave
Insurance Accounting Alert – May 2018
Financial Services Divestment Study 2018
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
- 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:
- Insurance industry facing real challenges: a view from the boardroom
- Global insurance leaders find common ground amid economic and regulatory uncertainty
- 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.
Tel: +82 2 3787 4278
Mobile: +82 10 5432 2747
Connect with us
Stay connected with us through social media, email alerts or webcasts.
Financial institutions need business strategies that thrive in a fully digital world – they don’t need to “go digital”, they need to be digital.
The first-of-its-kind platform connects clients, brokers and insurers in the marine insurance sector to distributed common ledgers that capture data about identities, risk and exposure.
Learn how intelligent virtual assistants and chatbots can enhance service interactions.
Learn about the changing dynamics in the outlook of the risk function and how the CRO role is evolving.
A rising number of InsurTechs are offering digital claims processing. Insurance companies need to look beyond mere cost savings and seek a data-driven customer experience.
This paper makes the case for why insurers need to understand the new data, systems and process challenges before committing to a demanding implementation journey.
These new standards will trigger fundamental changes in the way in which insurance companies will generate and report on their financials, both internally and externally.