Insurance Modernization: The broad business impact

Insurance Modernization: The broad business impact

Insurance EyeOpener Series

Insurance Modernization: The broad business impact

Coupled with existing business pressures to reduce costs, enhance reporting and enable better decision making, proposals by the IASB and FASB for insurance contract accounting, regulatory developments, principle-based reserving (PBR) proposals, and G-SII and non-banking SIFI designations, are compelling insurance companies to re-evaluate all aspects of their business model and operations.

These developments will require more sophisticated financial reporting, risk management and analysis. In addition, finance, risk, actuarial and technology functions will also face greater demands on their time and resources.

This Insurance EyeOpener Insurance Modernization: The broad business impact discusses:

  • Changes insurers will face over the next few years, and how this is driving insurance modernization
  • Complexities and challenges faced by stakeholders
  • How insurance modernization benefits organizations
  • Examples of the insurance industry mobilizing around modernization