Insurance

Forward thinking solutions to help you succeed in a transforming market

The insurance sector is witnessing rapid change. The biggest challenge facing the industry is to manage the uncertainty and risk that accompanies this disruption. Technological change, a shifting regulatory landscape and an uncertain economic backdrop are all changing consumers expectations. At Mazars, we provide insurers with audit, tax and advisory solutions that help turn these challenges into a prosperous future.

Our approach

Insurance companies face multiple factors that are changing the dynamics of the industry and making it a more complex sector in which to operate. Technological transformation, tighter regulations, and political and economic upheaval all must be navigated carefully, all the while managing the shift in consumer expectations and behaviours.

Here at Mazars, we have a long track record in the insurance market and our credentials give us a wide view of the disruption in the insurance industry. We offer you a full range of solutions to serve auditing and business advisory needs. Our business model combines international scope with the service levels you would expect from an individual business partner to provide tailored services, whether to brokers and intermediaries, life and general and corporate insurers, or to those businesses within the reinsurance market.

We work with and are trusted by global insurance players, regional and local insurers, as well as regulators and supervisory authorities. When you partner with us, you will always have a single point of contact who will provide you with the best of what Mazars can offer, pulling together the right specialists and solutions from across the business to suit your strategy and objectives.

Our team comprises experts in insurance who have the global, regional, local and regulatory knowledge and technical expertise to deliver client service excellence seamlessly. We work on a single integrated service platform to bring together our multi-disciplinary team across a range of specialisms. The actuarial dimension is fully embedded in our teams so that we are particularly efficient to support you in facing the regulatory challenges of the Industry.

Our services

  • Audit and assurance
  • Actuarial and risk management
  • Consulting
  • Financial advisory
  • Accounting and outsourcing
  • Tax

Regulatory reporting & audit support

  • Technical provisions
  • QRTs, RSR & SFCR

Outsourced Roles

Emerging Issues

  • IFRS 9
  • IFRS 17
  • Solvency II
  • Insurance distribution directive
  • GDPR
  • Gap Analysis in relation to new regulations.

Claims assessment

  • Claims reserving
  • Premium rating
  • Data analytics

Peer review services

  • Actuarial function reports & opinions
  • ORSA projections and reports
  • Actuarial models, methods & assumptions
  • Data & model validation

Risk & capital management

  • Standard formula SCR calculations
  • Assessment of capital optimisation initiatives

Regulatory change projects

  • Gap analysis
  • Impact assessment
  • Implementation projects
  • Training to board level

Business development & strategy

  • Assessment of strategic initiatives
  • Branch applications
  • Portfolio transfers
  • Support with mergers & acquisitions

Document

Mazars Reinsurance benchmark study 2019-20 PART 2

Mazars Reinsurance benchmark study 2019-20 PART 2

Digitalisation and automation in the insurance industry

Insurance digitalisation
Digitalisation has changed the world of customer service and customer engagement rapidly. Companies are facing several touchpoints and an increasing number of incoming messages and requests. Meanwhile, customers are expecting a 24/7 self-service.

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Reviewing Actuary

Fund Management
The requirements are set out in the Central Bank of Ireland’s Domestic Actuarial Regime, which became effective on 1st January 2016.

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