Insurance modernization

Insurers face unprecedented changes in financial reporting and solvency. How will you rethink your business models and operations?

What compels insurance companies to re-evaluate and modernize? 

  • rigorous expectations from regulators and standards setters
  • increased demands for more relevant and useful information
  • improvements in analytics
  • the need for operational transformation

The impacts of each are pervasive throughout actuarial, finance, risk, marketing and distribution, IT and other functional areas. PwC believes that when these areas work together, they can create an insurance operating model that is nimble, agile and future-proof. Your company will be able to manage and adapt to change as part of standard business practices.

How PwC can help

With PwC, insurers can prepare for future operational, business, regulatory and market demands by focusing on how to improve finance, operational, actuarial and risk functions. We have:

  • a record of success helping insurers modernize their operations;
  • a practical and successful approach to helping companies plan for and respond to regulatory, operational and strategic change;
  • an interdisciplinary team of subject matter specialists who have experience helping clients prepare for and address strategic, operational, financial, actuarial, risk and regulatory imperatives;
  • extensive expertise in finance, actuarial and risk management process improvement, data and technology transformation, regulatory and financial reporting consulting, and business strategy formulation and design.

IFRS 17 will have pervasive financial and operational implications for insurers, particularly in:

  • Liability measurement
  • Profit recognition
  • Data requirements
  • Operations and systems
  • Reporting timetable
  • Product strategy
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Gearing up for IFRS 17, are you prepared?

Contact us

Greg Galeaz
US Insurance Industry Leader
Tel: +1 (617) 530 6203
Email

Richard de Haan
US Life Actuarial Leader
Tel: +1 (646) 471 6491
Email

Mary Helen Taylor
Partner, Assurance
Tel: +1 (646) 471 8394
Email

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