Insurance

KPMG's Insurance Industry group brings together experienced individuals who offer insightful and practical business advice based on their international and local experience of serving leading insurers both in China, the region and globally. Their practical experience combined with their knowledge of industry trends means they are well placed to add value to your business.

Leverage our knowledge of global best practices and our local experience to drive value into your business:

• Optimise your distribution channels: ensure the right strategy, infrastructure, tools, trainings and incentives are in place to drive maximum value and improve top- line growth and profitability;
• Leverage your customer data: enhance your customer data strategy to improve growth, customer service and profitability, define your customer segments and develop targeted propositions, optimise cross-sell, up-sell and retention, improve lead generation and sales conversion rates, implement need-based selling, reduce acquisition costs and improve brand recognition;
• Succeed your inorganic growth: get our support on market entry feasibility studies, latest regulation opportunities, investigations, acquisition or disposal due diligence, valuations, deal management, Insurance Authority regulatory approval, integration strategy and organisational restructuring;
• Drive value through your target operating model: identify critical gaps that will enable you to adapt more quickly to market changes, increase efficiency through process optimisation and automation, reduce operational costs, risks and complexity through standardisation, identify areas that could become shared services or can be outsourced, improve business decision making with a strategic alignment of reporting and use of analytics;
• Generate value from finance: Investing in Finance change programs can generate significant value for businesses as a result of higher operational efficiency and better reporting and decision making processes. We can also support you implementing Solvency II programs and other risk based capital management, US GAAP and International Accounting Standards conversion exercises, optimising your payment process or updating your actuarial models to better control risk and manage your business;
• Reduce your risk exposure: ensure compliance with local laws and regulations, mitigate potential losses, ensure you have the right framework to keep control, protect your brand and reputation, mitigate environmental, social and governance risks and ensure your internal audit team is ready for new products;
• Make IT work to your advantage: identify potential for expanded distribution capacity leveraging new technology, improve customer experience and increase the potential for cross-sell opportunities, capture and transform data to enhance ability to drive decisions, identify automation opportunities, retain key skills sets and reduce concentration risks with creation of shared services capacity, improve the identification and realisation of projects’ business benefits to get higher returns, update your project management practice;
• Optimise your Tax: identify opportunities and impacts on your current practices with the latest regulatory changes such as FATCA and latest tax reforms in the region, understand the tax implications of recent tax issues on mergers and acquisitions, and construct a more tax effective structure and transfer pricing policy.