Insurance digest

This publication is dedicated to providing thought-provoking insights into some of the key strategic issues facing the insurance industry.

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insurance digest Claims legal expense cost containment: From short-term gains to sustainable reduction
Insurers and self-insured companies typically find the cost of defending claims to be among their largest line item expense, and they spend billions of dollars annually on claims legal expense. Only by rethinking its approach to cost containment can an insurer achieve meaningful change in its legal claims cost containment programs.


insurance digest Risk management at life insurers: Dynamically managing economic cycles
Although near-term survival is still a pressing issue for many insurers, it is currently the right time for the industry as a whole to revisit its risk management strategies in the wake of the most severe financial crisis in eighty years.


insurance digest What gets paid gets done: Building rewards into enterprise risk management
Solvency II will provide an important catalyst for the development of enterprise risk management (ERM). Building rewards into the ERM framework will in turn help to instil greater risk awareness in the mindset of the organisation, drive desired behaviour and provide a strong foundation for regulatory compliance. We take a look at how to ensure that business strategy and compensation are aligned in the most effective way.


insurance digest Insurance and the climate change challenge
The credit crisis and subsequent recession has served to remind businesses everywhere of the need to focus on key risks, and to identify emerging risks such as sustainability, which are currently unmanaged. This applies all the more to insurance companies, which have exposure to the full gamut of business diversity and human activity. While the pattern of risk and opportunity is constantly shifting, there are a number of interconnected sustainability "mega-trends" that PwC believes will form the insurance model for years to come.


insurance digest Insurance in Turkey: opportunities and challenges
The Turkish insurance market has experienced a period of significant growth, expanding by nearly 25% in each of the last seven years. While future growth may be moderate, the sector still offers potentially enticing returns. The challenges faced by those building a presence in Turkey are varied, and ahead of Turkey's likely accession to the EU, keeping pace with new regulations, products and distribution channels is essential


insurance digest The future of European insurance supervision
The way the insurance industry is supervised is going to change. Beyond that, certainties are few and far between, although the de Larosière publication does start to make certain outcomes more likely. While the view remains hazy, something substantial is emerging from the gloom with the powers-that-be considering radical changes and wanting them to happen quickly. Staying in touch with the debate, and contributing to it, is key.


insurance digest Getting into shape
After years of expansion, many big, unwieldy insurance groups are now hitting the treadmills with the aim of making their operating structure leaner and meaner. The benefits can be considerable and companies with opportunity to simplify regulatory requirements and operations. It is a response to a rapid period of growth that left many insurance groups operating through a fairly complex corporate structure with a number of subsidiaries and branches operating throughout Europe.


insurance digest Guarding against future mis-selling claims
Compensation claims relating to some unit-linked policies in the Netherlands have once again highlighted the financial and reputational risks of 'mis-selling'. Companies marketing long-term contracts can be especially susceptible to retrospective claims. We look at how a risk-conscious 'lifecycle' approach to design, marketing, sales and after-sales support could help insurers to avoid storing up trouble for the future.