What is your company’s budget for modernization? With IFRS17 now a reality and FASB’s Long Duration Contracts project coming into view, many insurers are seeing potential compliance costs escalate to hundreds of million dollars. CEOs are rightfully asking what benefits, if any, they will get from such a significant investment.
Astute insurers realize that they can use the IFRS/FASB requirements as a catalyst for change and that the most effective and efficient use of their investment will be to
An end-to-end modernization approach mandates interaction among different functions to create a future state vision, roadmap, and business case that aligns their different interests and satisfies key stakeholder expectations. Specific benefits of an integrated approach to modernization include lower costs, greater efficiencies, better risk management, more effective use of resources, and better business insight.
PwC’s insurance modernization specialists can help can insurers prepare for future operational, business, regulatory and market demands by focusing on how to improve finance, operational, actuarial and risk functions. We have:
Insurance Practice Leader, PwC US
Richard de Haan
Actuarial Leader, PwC US
Actuarial Modernization Leader, PwC US
US Finance Modernization Leader, PwC US
Insurance Technology Leader, PwC US