As well as digitisation, there are challenges and opportunities that demand a radical redrawing of business models, from risk management through to automation of critical processes.
Increased regulatory oversight, a shortage of talent and the quest for sustainability are accelerating the need for change in the sector. More agile insurers are investing in emerging technologies, specialist software, artificial intelligence and automation solutions, exploring new ways of delivering value – on a secure and efficient basis, in line with fiscal and regulatory requirements.
KPMG’s experience in the service of the insurance sector
IFRS 17 has brought about structural change in how insurance contracts are stated in accounts and reported, requiring new systems, consistent data and robust processes.
In order to support this transition, KPMG has developed Intelligent Close Automation for Insurers, a solution that helps with closing accounts and ensures compliance, rigour and transparency.
