South Africa

Insurance 

The rapidly changing insurance environment poses new challenges every day: globalisation of competition and markets, changing regulations, digital evolution and regulatory revolution. This transforms the way we interact and do business. The entire value chain is impacted, from insurers to intermediaries and service providers, as we all get more familiar with doing business in this ever changing environment. At the centre of this transformation into a more connected, digital world are the client, and a marketplace that is defined and driven by customer needs, lifestyles and digital behaviours.

Our insurance professionals pride themselves on their technical understanding of the insurance industry and the practical solutions they can offer to achieve your business objectives. Our insurance team emphasizes collaboration and knowledge transfer to help ensure your organisation is empowered for the future.

 

Our service offering includes:

 

  • External and internal audit services
  • Assistance with the adoption of new financial reporting standards
  • Advice on meeting changing regulatory requirements, including:
  • Solvency Assessment Management
  • Treating Customers Fairly
  • Protection of Personal Information Act
  • Binder Regulations
  • Outsourcing (Directive 159)
  • Consumer Credit Insurance
  • Retail Distribution Review
  • Strategic business reviews focussing on the total value proposition of insurance companies
  • Advice on new licence applications or changes to licence conditions
  • Business process reviews, including efficiency improvement projects
  • Technical training workshops relating to financial reporting, regulatory compliance and taxation in the insurance industry
  • Integrated reporting
  • Insurance tax services including international tax and VAT
  • Corporate finance solutions for insurers including due diligence reviews, independent assessments of value, and equity restructuring
  • Actuarial services including capital modelling, technical reserve calculations, new product development, risk management strategies and reinsurance value optimisation.

 

Please contact Mark Danckwerts for more information.

 

 

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Gerdus Dixon
Director, Financial Services
Tel: +27 (0)82 492 8786
gerdus.dixon@kpmg.co.za