Today’s insurers face a wide range of complex challenges, from navigating financial market uncertainty and evolving consumer demands to outpacing digitally savvy new competitors. While these factors may add new risk, they also present opportunities for insurers, reinsurers, and brokers, to rethink strategy, redesign financial and capital models, revamp sales, service and support processes with technology, or explore new growth in emerging markets or through product innovation.

Intensified regulatory scrutiny and enhanced compliance and capital requirements through Own Risk and Solvency (ORSA), IFRS and Solvency ll regimes are at the forefront. Tax morality and transparency rate high on the agenda. Modernizing technology and processes to derive value from the vast volume of data, securing the best talent from an ever shrinking pool, and driving efficiencies in front and back office operations will continue to challenge business models for several years to come.

With unparalleled experience in Audit, Tax & Legal and Advisory services, KPMG has the depth of knowledge and breadth of skills to guide insurers as they harness the power of data and technology, empowering their people to provide a truly customer-centric service. Our Belgian practice of more than 250 professionals with a dedicated financial services focus, together with 6000 colleagues across 152 countries, draws on deep knowledge from across the insurance sector to help insurers transform, develop and evaluate the right operating models and strategies to respond to this continuously changing financial world.

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Challenges & trends


Growth in a mature market

The potential for growth in the Insurance sector is vast with the possibility to create new insurance branches and product lines, new distribution channels & partnerships, new insurance related prevention & repair services (via partnerships) and product portfolio acquisitions & divestitures.

cost efficiency

Improving Cost efficiency

As the insurance sector looks to improve their cost efficiencies in the back offices and support functions, they will need to consider the profitability of their products, customers and distribution channels while considering the effectiveness of their operating model and support processes.

technology & innovation

Technology & innovation

Digitalization is disrupting the Insurance sector and providing a good digital customer experience remains critical for any business looking to survive in these turbulent times. Remaining innovative while making use of the latest technologies such as advanced data analytics, AI and cognitive automation are key.


Regulatory challenges

Regulatory change should be viewed as an opportunity, not as a constraint. It is therefore important that the Insurance sector continues to reevaluate their regulatory compliance approach to legislation such as IFRS, the Insurance Distribution Directive, Anti Money Laundering and AssurMiFID.

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Key Services involved in the Insurance sector

  • Enterprise Risk & Capital Management
  • ALM & Financial Modeling
  • Actuarial Function
  • Employee Benefits & Pension Services
  • Reserving & Pricing
  • Cost Strategy
  • Growth Strategy
  • Deal Strategy
  • Innovation Strategy
  • Enterprise-wide Strategy
  • Corporate Tax & Legal
  • Global Compliance Management
  • Global Mobility Services
  • Transfer Pricing
  • Tax Transformation & Technology
  • Business & Operating Model Change
  • Digital & Technology Transformation
  • Post-Deal Integration & Separation
  • Shared Service & Outsourcing
  • Restructuring
  • Insurance Distribution Directive (IDD)
  • Anti Money Laundering (AML)
  • International Financial Reporting Standards (IFRS)
  • Brexit
  • Pricing & Underwriting Analytics
  • Customer Analytics
  • Fraud Analytics
  • Process Analytics
  • Reporting Analytics
  • Pre-Deal Valuation
  • Transaction Valuation
  • Structuring Advice
  • Buyer & Vendor Assistance
  • Contract Assistance
  • Privacy, Cyber & Information Security
  • Cyber Insurance Product Strategy, Design & Modelling
  • Pre & Post Bind Services
  • Post Incident Services
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We advise Insurance clients on a broad spectrum of issues as well as through the following integrated solutions

Technology enabled business transformation

Digitalization and market fluctuations present a lot of challenges for organizations with business executives wondering whether their current processes are ready for the future. Investing in the right technologies allows these processes to become more efficient, agile and competitive.

We help you to maximize value across the entire value chain to keep up with evolutions in the market. By defining your enterprise strategy, improving processes and implementing core technologies, we help you to operate efficiently while exploring untapped potential.

Digital transformation

Modern organizations must be agile, competitive and customer-centric. Changing customer expectations, new market entrants, technology disruption and the speed of change have forced brands to reinvent themselves and the experiences they deliver to their customers.

We lead you through a customer-led transformation by improving customer strategies and implementing powerful analytical and digital solutions. This will allow you to unlock your customer value and become a data-driven organization, thriving in the digital age.

Transformation through deals

Strategies that facilitate the right investments can help organizations grow and develop the necessary agility to respond to changes in the new reality.

Our multidisciplinary team  will support you from the strategic conception phase, to deal execution to implementation and post-merger advice. Looking at your ultimate goal and strategy, our team will work with you to determine how a transaction or deal can support your objectives, helping you adapt your strategy and align your purpose and values to complete the transformation process.

Regulatory driven transformation

Adapting to the ever-changing regulatory landscape in any sector can be challenging and forward thinking leaders see regulatory change as an opportunity, rather than a constraint.

Our solution, driven by a team of multidisciplinary experts, offer a complete approach to help your organization better deal with regulatory changes. With outstanding expertise in compliance, combined with access to technology-driven solutions, we offer a holistic view of the challenges and opportunities on the regulatory horizon.

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