KPMG provides property & casualty insurers with in-depth advice, actuarial analysis and follow-through support—both locally and globally.
In-depth advice, actuarial analysis and follow-through support locally and globally.
Keeping pace with shifting industry trends
Canada’s property & casualty insurers have seen major industry swings in recent years. Complying with regulatory shifts—such as ORSA guidelines, changes to capital calculations, workers’ compensation rules and new auto insurance cost reduction measures—are adding costs. Combined with a low interest rate environment and the severe weather events that are impacting loss development trends, this is placing operating margins under considerable pressure. At the same time, consumers continue to expect ever-higher levels of service, a broader suite of solutions and more integrated distribution channels.
KPMG and your business
With extensive experience in the property & casualty space, KPMG’s professionals can deliver the in-depth advice and follow-through support you need—both locally and globally.
Risk & regulatory transformation
Strive to adopt cost-conscious regulatory compliance programs, adjust for catastrophic loss events, strengthen your cyber security stance, prevent claims fraud with more advanced technology platforms and account for complex deductibles, self-insured retentions and captive insurance policies.
Assist in improving economies of scale through M&A transactions, invest in shared services and process automation, streamline distribution channels, realign functional areas to a robust target operating model and strengthen the IT infrastructure that can support these changes.
Customer experience & digital transformation
Help deliver a more personalized customer service experience by empowering brokers to offer premium discounts using telematics; managing through the sharing economy; developing a broader suite of products and services; extending online buying tools; enhancing customer affinity, loyalty and warranty programs; and using data analytics to improve underwriting, pricing and marketing.
Chris D. Cornell