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      Increasingly complex actuarial reserving and capital models, demanding reporting requirements and deadlines and maintaining competitiveness in an uncertain operating and economic environment are just some of the challenges currently facing actuarial teams and (re)insurers.  

      Against this backdrop, (re)insurers are trying to prepare for a new accounting standard and facing increasing regulatory scrutiny.

      Remaining competitive in today’s environment, means that (re)insurers need to improve their processes where possible, whether it’s reducing steps or automating certain aspects, allowing more frequent reviews and deeper and quicker insights.

      How KPMG can help

      KPMG offers a full suite of actuarial services across life insurance, non-life insurance, health insurance, and pensions.

      Whether you require our life, non-life, or health expertise (which includes domestic and international insurance, and captive and reinsurance markets), or our pensions expertise (which includes the management and restructuring of defined benefit schemes and the set-up of new defined contribution schemes), we strive to continually provide clear, unambiguous, and independent advice, helping you prepare for the future in this period of great uncertainty.

      What we do

      KPMG helps organisations face these challenges. We can help you deal with a range of insurance issues, including:

      • Models, controls and processes

        Development, refinement and automation of reserving and capital models and associated controls and processes using advanced analytic and visualisation techniques.  

      • Analyse your business

        Analysing your business, risks and data using modern technologies, including: Network analytics for risk management (Dynamic Risk Assessment), claims fraud and portfolio management, Content analytics, Data engineering and platforms, Machine Learning and Artificial Intelligence solutions

      • Manage capital

        Capital management and optimisation in the current regulatory environment

      • Adherence to IFRS

        Implementation assistance and understanding the financial and operational impacts from changes to the insurance accounting standard (IFRS17)

      • Actuarial assurance

        Assurance on a wide range of actuarial aspects including peer review of reserves, capital and Own Risk and Solvency Assessments (“ORSA) and Independent Actuary services

      • Regulatory advisory

        Providing legislative and regulatory assistance, data analytics solutions, reserve reviews and pricing assistance support to  public and private sector healthcare bodies

      • On- and off-boarding

        Support with acquisitions and divestitures

      • People advisory

        Resource support

      Get in touch - contact our Actuarial team

      To find out more about the work we do and how we can help you – get in touch today. We look forward to hearing from you.

      Jean Rea
      Jean Rea

      Partner

      KPMG in Ireland

      Read more in Insurance

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