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 risks, 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 deep experience in Audit, Tax & Legal and Advisory services within the insurance sector, 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 300 professionals with a dedicated financial services focus, together with 6000 colleagues across our global network, 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 & ecosystems, 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), KYC
  • International Financial Reporting Standards (IFRS)
  • 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

We believe the future enterprise will be Connected. Powered. Trusted.

Connected. Powered. Trusted. is our definition of a digitally transformed organization. One that is connected, aligned and engineered around the customer. One that is powered by modern technology and agile business practices. One that is trusted by all its stakeholders from customers, employees and suppliers to investors and regulators.​


KPMG Connected Enterprise for Insurance is our framework and approach for enabling customer-centric, end-to-end digital transformation that meets the new life and non-life insurance demands large corporates, small businesses and individual customers are facing. A future-ready, connected insurance will have the capabilities to quickly respond to market signals and pivot to capitalize on opportunities as they arise. KPMG Connected Enterprise focuses every critical process, function, and relationship of a business on meeting customer expectations, creating business value and driving sustainable growth in a digital world. KPMG Connected Enterprise for Insurance is an insight-led, customer-centric, enterprise-wide approach to digital transformation.


KPMG Powered Enterprise is an outcome driven, functional transformation solution that combines deep industry knowledge, global delivery capability, and the market leading cloud technologies. It helps drive sustainable change, rising performance and lasting value for your business. Powered Enterprise is our key service offering for functional transformation in the cloud. It is an integrated, market-leading solution that transforms business functions including Marketing, Sales & Service, Commerce, Supply Chain Management, Procurement, Finance, Human Resources, Information Technology, Enterprise Service Management, Cyber and Risk.


The Trusted imperative embraces and represents the entirety of KPMG’s capabilities in risk and regulation. It also asserts an enabling, multiplying role for Trusted thinking in digital acceleration and transformation. We believe trust is the ultimate business enabler: growth, performance, efficiency and innovation are all fueled and facilitated by the confidence that people have in an enterprise.

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