Today’s insurers face a wide range of complex challenges, from navigating financial market uncertainty and evolving consumer demands to outpacing digitally savvy new competitors. While these factors may add new risks, they also present opportunities for insurers, reinsurers, and brokers to rethink strategy, redesign financial and capital models, revamp sales, service and support processes with technology, or explore new growth in emerging markets or through product innovation.
Intensified regulatory scrutiny and enhanced compliance and capital requirements through Own Risk and Solvency (ORSA), IFRS and Solvency ll regimes are at the forefront. Tax morality and transparency rate high on the agenda. Modernizing technology and processes to derive value from the vast volume of data, securing the best talent from an ever-shrinking pool, and driving efficiencies in front and back office operations will continue to challenge business models for several years to come.
With deep experience in Audit, Tax & Legal and Advisory services within the insurance sector, KPMG has the depth of knowledge and breadth of skills to guide insurers as they harness the power of data and technology, empowering their people to provide a truly customer-centric service. Our Belgian practice of more than 300 professionals with a dedicated financial services focus, together with 6000 colleagues across our global network, draws on deep knowledge from across the insurance sector to help insurers transform, develop and evaluate the right operating models and strategies to respond to this continuously changing financial world.
