The world of insurance is experiencing massive global, regional and national change and will do so for the foreseeable future. Insurance companies, banks, credit institutions, brokerage firms, provident societies and mutual societies are being impacted by tight margins, changes in distribution mechanisms, slowly recovering markets post credit-crunch, growing international competition and new regulatory measures.
Our consultants understand the business implications of changes in the insurance landscape and are engaged in strategic and operational projects to deliver significant business transformation focusing on the personal and commercial insurance customers of today and tomorrow.
Our current work includes improving and developing new sales and distribution as well as claims-servicing models—designed to improve customer choice and experience, back-office renewal and integration—to remove silo-based process and system inefficiencies and create transparency in measuring and reporting.
The impact of many reforms, including Solvency II, IFRS standards, tax legislative framework, consumer protection, pension reform and the Retail Distribution Review (RDR), creates a growing regulatory burden requiring enhanced risk management practices and systems for demonstrating greater transparency, fairness and liquidity.