Insurance publications

Top Insurance Industry Issues in 2016
The insurance industry continues to face more disruption than practically any other industry. Top Insurance Industry Issues in 2016 addresses the many challenges confronting insurers, and provides insight on how to adapt to an environment that is the midst of profound change.

Innovating to grow: A new world of opportunity for insurers
InsurTech’s rise is not a threat, but a real opportunity for insurers to innovate.

IFRS 17: The wait is nearly over

A structured approach to IFRS 17 implementation project planning will help insurers overcome the challenges and build on the opportunities it presents.

US Insurance deals insights
This publication includes the deal activity in the insurance sector such as overall highlights, key announced transactions, and the outlook ahead. Read our full report to learn more.

Insurance Divestitures - How non-traditional M&A is shaping the insurance market
Insurance divestitures are increasingly common, but also are subject to many internal and external factors.

Doubling an insurer’s enterprise risk management output: Stress testing applied
Effective stress testing gives insurers the opportunity to double their ERM output.

Loyalty analytics - Member engagement models: The foundation of a powerful member retention strategy
To maintain effective loyalty programs, companies must develop member-focused marketing strategies that keep valued members engaged and prevent them from losing interest in the brand.

The possible effects of negative interest rates on the US life insurance industry
The consequences of possible negative US treasury rates pose a significant threat to life insurer value, profitability, financial reporting and solvency.

2016 Connecticut insurance brief
Insurance industry innovation and change is occurring faster than ever. Connecticut insurers are innovating to drive future competitive advantage and growth.

PwC Notes: NAIC 2016 Summer National Meeting
This newsletter contains information on activities that occurred in some of the committees, task forces and working groups that met at the NAIC 2016 Summer National Meeting and summarizes conference calls after it.

Top Insurance Industry Issues in 2015
The insurance industry is facing once-in-a-generation disruption. Top Insurance Industry Issues in 2015 discusses the challenges and opportunities confronting insurers, and provides insight on how to adapt to change.

Top Insurance Industry Issues in 2016 - InsurTech
InsurTech offers substantial promise for established insurers to meet their business challenges. But, where to start?

Stress testing in the insurance industry: A “20/80” opportunity
Stress testing, though well established in the insurance industry, would benefit significantly from a modest amount of additional effort.

Strategic relationship management: Why large organizations and their partners sink or swim together
Unlike traditional, siloed vendor, distributor, and customer relationship management functions that typically utilize ad hoc management approaches, strategic relationship management (SRM) views vendor, distributor, and customer relationships holistically and allows organizations not only to improve the terms of these relationships, but also to radically re-imagine them by developing new partnership models.

Stepping into the Cockpit: Redefining finance’s role in the digital age
As they look to modernize the finance function, finance executives have to “step into the cockpit” and produce more practical and forward-looking information for the enterprise as a whole

Changing coverage? Brexit’s effect on US insurers and reinsurers
How might Brexit affect US insurers and reinsurers, and what can you do to prepare?

No regrets: QA testing drives successful insurance core transformations
If you’re undergoing a core transformation, here’s what you should know about QA testing to drive success.

A cut above: Improving commercial underwriting from strategy to execution
Drive profitability by enhancing how your commercial underwriting strategy is articulated, embedded, and monitored.

Insurance tax developments in 2015: A look back and forward
Insurance tax developments in 2015: A look back and forward provides an overview of developments affecting the taxation of insurance companies in 2015 and an outlook to 2016.

Shopping for growth: Finding the right insurance customers is a team sport
Want a better way to connect with consumers and drive business growth? A better customer acquisition strategy can help.

Out with the many: Redesigning distributor compensation as a shared service
Insurers are rethinking their legacy operating platforms as distributors seek smoother moves. Consolidation can help.

The next frontier: Managing insurer’s and brokers’ compliance with US economic sanctions
The sanctions landscape is continually evolving, challenging, and complex.

NAIC Spring 2016 National Meeting Notes
This newsletter contains information on activities that occurred at the April 2016 NAIC National Meeting and on related conference calls.

New revenue recognition rules: How will they affect loyalty programs?
New revenue recognition rules will affect loyalty programs' systems, processes, and policies.

Financial Services: 2015 SEC comment letter trends
This paper discusses the recent areas of focus and applicable accounting or reporting guidance in SEC staff’s comment letters issued over the past few years to registrants within the financial services industry.

Global insurance prudential regulatory framework: Where it’s converging, where it isn’t, and what insurers can do about it
A close look at developments related to the global prudential regulatory framework leads us to two perhaps surprising conclusions: 1) The regulatory future is more certain than at first it might appear, and 2) Where there is uncertainty, what insurers need to do is clearer than they might think.

NAIC Fall 2015 National Meeting Notes

This newsletter contains information on activities that occurred in some of the committees, task forces and working groups that met at the NAIC Fall National Meeting and summarizes conference calls after it.

Model risk management: The next generation for insurers
This paper addresses how to establish model risk management guidance that fits insurers’ needs.

Ten questions about the International Capital Standard (ICS)
This paper describes the International Capital Standard (ICS) and what this regulation could mean to insurers.

From solos to symphony: How insurers can harmonize customer communications
Customers today are overwhelmed with irrelevant and inconsistent messages from their insurance carriers. Insurers should develop a customer-centric communications strategy that supports consistency, reuse, and personalization of content.

Shared Success: Where risk, efficiency, tech, and customer experience meet
Want to reduce duplication and dissolve silos? Using a shared approach to process mapping can help get the job done.

Experience studies data management: How to generate valuable analytics with improved data processes
This second in a projected four-part series examines how improved data processes and analysis will help actuaries develop more meaningful insights from more robust experience studies.

The role and function of insurance company risk committees
PwC conducted a study of insurance company board of director’ risk committees during the summer of 2015. Our findings are based on interviews with insurance company directors and a review of current regulatory developments.

Life insurance experience studies in the spotlight
The way life insurance companies determine reserve amounts is changing profoundly. Principle-based reserving (PBR) places a much greater emphasis on the assumptions that feed the reserving models. In the past, regulation prescribed most of these assumptions, but PBR puts the onus on the insurer to determine assumptions that are reflective of its own business rather than broad industry averages. This paper describes the changing environment, PBR’s implications, and what they mean for the models that companies use to determine reserves.


NAIC Summer 2015 National Meeting Notes
This newsletter contains information on activities that occurred in some of the committees, task forces and working groups that met at the NAIC Summer National Meeting and summarizes conference calls before and shortly after it.


Group capital standards: Comparing the different proposals
At this time, there are a number of divergent proposals on how to define an international capital standard for insurers. This paper describes and compares the proposals by deconstructing each capital standard calculation into its component parts and describing the alternatives for each of the components that the different proposals present.

Risk adjusted pricing: The case for MCVNB
MCVNB, a value measurement tool that is available now and not contingent on finalized capital standards, can help insurers gain the insights they need to select the best options for product design and pricing.

The modeling continuum
Sorting all of the different kinds of models into a framework can help our understanding of both them and model risk management. This paper proposes four categories for this framework, defines seven model attributes, and then compares the different categories across these attributes.

Leveraging behavioral simulation to enhance the four percent rule
New external data sources and techniques can substantially enhance retirement planning beyond the 4% rule.

Gateways to growth: Insurance portals that deliver
Insurers that don’t adapt to rapidly changing client expectations may be left behind. Portals can help bridge the gap.

No agent left behind: How insurers can rally support for tech upgrades
Insurers’ IT projects can threaten independent agent loyalty. Change management can turn skeptics into believers.

Significant others: How financial firms can manage third party risk
Using third party service providers can be a risky business. Get fewer headaches by getting on top of the problem.

Tightening up your core: Powering Group insurance through PAS modernization
The Group insurance industry is facing unprecedented change. How can a PAS transformation support your growth strategy?

Retirement readiness: Rule of thumb vs. behavioral simulation
It's time to revisit the “80% Rule” as a rule of thumb to evaluate retirement readiness.

Top Insurance Industry Issues in 2014
New standards and shifting preferences define the landscape for insurers.

A perspective on intercompany reinsurance
Complex legal structures are inherent in the insurance industry. We think that companies can benefit from investing up front in simplifying their corporate structure. We also believe that there are can be tangible benefits from re-evaluating or implementing intercompany pooling and affiliate reinsurance. This can further streamline the corporate structure, based on pre-determined objectives and supporting parameters.

Simplifying corporate structures
In light of the need to be nimble while reducing costs, corporate simplification should be at the top of the corporate “to-do” list. A well-managed corporate simplification program provides strategic alignment of entities, reduces costs, and facilitates more efficient use of capital. The companies that execute an effective corporate simplification process and maintain a commitment to simplification over time will succeed in reducing costs and be able to devote their time and attention to value adding activities.

Ditch the product pitch: Winning through customer-focused content
Pitches don’t sell products—emotional connections do. How to win customers’ hearts through personalized content.

NAIC Spring 2015 National Meeting Notes
This newsletter contains information on activities that occurred in some of the committees, task forces and working groups that met at the NAIC Spring National Meeting and summarizes conference calls before and shortly after it.

Improving cross-functional market focus for property and casualty insurers
In this paper, we explore managing the dynamics of insurance products via an end-to-end information advantage, illustrate it by way of example, and provide practical recommendations on how to affect it.

"Best" practices: The elusive benefit
Best practices can help companies gain a competitive advantage. However, the opposite is often true. In this paper, we describe common pitfalls in adopting best practices and ways insurers have overcome challenges to implement them successfully.

Insurance board of directors' risk responsibilities: Guidance from global regimes
At the present time, no two developments in the insurance sector seem more entwined than risk and regulation, and nowhere is this interaction more evident than in developing regulatory expectations for insurers’ boards of directors. While regulators still seem far apart in their search for a single global capital regime, they are much closer to a consensus on terms of governance.

2014 Connecticut Insurance Market Brief
This Brief includes emerging trends/issues affecting the Connecticut insurance industry and is a companion document to the CT Insurance Market Forecast event held on November 20, 2014.

The case FOAR insurance modernization
A comprehensive, well thought-out, pragmatic and staged plan to modernize FOAR functions and prepare for new requirements can lead to a competitive advantage through revamped products, reduced expenses, and increased efficiencies.

Claim to Fame: Positioning the claims function for operational excellence
This August 2014 FS Viewpoint describes how improving the customer experience starts with improving the claims process.

Doing more with more: How P&C insurers are creating an information advantage with 3rd party data
Look at how 3PD is dramatically altering the information management, analytics and decision-making landscape, as well as some leading practices on successfully integrating and exploiting 3PD.

Continuing Developments in the Taxation of Insurance, 2013 the year in review
The latest edition of Continuing Developments in the Taxation of Insurance Companies from PwC reviews developments affecting the taxation of insurance companies, with a special focus on legislation, tax accounting, and Federal, international, and multi-state taxation developments.

Ten practices of effective ceded reinsurance claims and accounting teams
This paper describes practices that ceded reinsurance teams can implement in order to improve the effectiveness of ceded reinsurance programs and associated accounting.

Adopting an Agile methodology: Requirements-gathering and delivery
In this comprehensive overview of Agile requirements gathering and project delivery, we explore an approach and framework that can drive success through open communication with stakeholders around an active project management framework designed to best fit the organization.

Effectively using Agile methodology to deliver packaged software solutions
Flawed implementations of Agile can result in a failure to completely realize its full benefits. This can lead to the misperception that the methodology itself is not adequate, when the true failure is the implementation, not the design of the methodology.

Modernizing insurance finance
Implementation efforts and costs related to the proposed IASB-FASB insurance contracts standard could vary significantly depending on product types, systems infrastructure, and resource capabilities. Whether companies apply GAAP, IFRS, or both, there will be at least some change.

Utilizing service entities as part of your service operating model
As insurers evaluate and re-design their service operating model, they should determine if a separate service company would be advantageous. Insurance companies are particularly well suited to move certain activities away from their insurance legal entities, but the business case for doing so should be compelling.

Game on: How information is changing the rules of insurance
The ability to effectively manage, leverage, and integrate the "data deluge" flooding today’s carriers will be a key differentiator in the insurance marketplace of the future.

Strategic risk management: Facilitating risk-based insurance decisions
Enterprise risk functions usually do well identifying, modelling and mitigating "knowable" risks, but face a bigger challenge identifying, quantifying and mitigating ambiguous risks. Insurers require a strategic Risk Management (SRM) solution to identify, assesses and manage enterprise-threatening losses over time.

Publication archives

  • NAIC meeting notes archive
    This newsletter contains information on activities that occurred in some of the committees, task forces and working groups that met.

  • Insurance tax bulletins
    One page summaries of insurance tax developments affecting insurance companies and their products.