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.
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:
After more than a decade, the FASB published a new standard in August 2018 which provides for Targeted Improvements to the Accounting for Long-Duration Contracts. Despite the name "targeted improvements", the new standard has very significant impacts to the accounting for long duration contracts. There are four major changes in the new standard, which include:
Assurance Practice and Insurance Sector Leader, PwC US
Tel: +1 (646) 471 8688
Actuarial Modernization Leader, PwC US
Tel: +1 (646) 471 1696