Insurance

We help insurance companies meet the complex challenges of complying with Solvency II, IFRS, and UGB, as well as developing comprehensible mathematical models. Our expertise promotes interdisciplinary collaboration, enables well-founded business decisions, and supports our clients in increasing quality and efficiency.

• Actuarial science
• Financial mathematics
• Risk management

Insurance companies face an increasingly complex regulatory environment that requires constant awareness to ensure compliance. These challenges affect all levels of the company, from clerks to the executive board and supervisory board.

We support you with:

• Fit & Proper workshops for executives
• Preparation for Fit & Proper hearings by the FMA
• Internal auditing
• Internal control system (ICS)
• Risk management

In a rapidly changing world, where Austrian tax law is becoming increasingly complex due to international influences and where sustainability and ESG are increasingly in focus, KPMG offers insurance companies tailor-made solutions to master tax challenges and achieve their ESG goals:

• Corporate taxation
• International tax planning
• M&A/restructuring
• Indirect taxes
• Tax compliance

We accompany insurance companies on their journey into the future. As holistic consultants, we are able to support our clients in selecting and implementing the latest technologies and anchoring transformations in organizations in a sustainable manner, in addition to our functional and technical expertise.

• Digital business models
• Customer insights & customer analytics
• Optimization of sales/consulting processes
• Productivity and benchmark analyses
• Increased efficiency through robotics and AI
• Implementation of digital claims processes
• Optimization of commission systems

Current regulations often pose a challenge for insurance companies. Through practical consulting, we can develop sustainable, tailor-made IT security solutions.

• Security Strategy & Transformation
• Privacy & Identity Management
• Technology Architecture & Testing
• Response & Resilience, ICT Incident Management
• ICT Risk Management
• ICT Security Testing
• Monitoring of Central ICT Service Providers

Artificial intelligence requires expertise in modern IT architecture and data analysis, which is often in short supply. We help insurance companies leverage AI opportunities and minimize regulatory risks.

We support you with:

• AI strategy
• AI regulatory compliance and trusted AI
• Technical AI implementations, cloud native
• AI-based automation in claims processing (e.g., auto claims)
• Change management support during AI implementation, HR support during AI rollout
• AI operating models

Mastering sustainability reporting: We can draw on extensive experience in the Austrian and international insurance market from audit and implementation projects in the areas of CSRD, SFDR, and Taxonomy Regulation.

Our services include:

• Conducting audits of sustainability reports as part of financial statement audits and in our role as sustainability auditors
• Preparing materiality analyses and sustainability reports
• Climate risk analyses and scenario calculations
• Preparation and quality assurance of data models
• ESG target operating models
• Conducting revision audits