Belgium

Insurance 

Despite the varied challenges during a period of uncertainty and crisis, the insurance world faces, there are still opportunities for your business. Pressure is increasing as a result of continuously changing regulations and standards, including Solvency II, IFRS, and MiFID Insurance. Cost reduction and improving operational efficiency is high on the board agenda, often leading to mergers, acquisitions, and divestments. Meanwhile digital transformations and big data analytics are more and more key to become the end customer’s choice and to gain new market shares.

 

By using industry knowledge and understanding to develop our service offering, our professionals are able to provide tailored and focused multidisciplinary services to respond to your challenges and find the, sometimes, hidden opportunities.

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Today's challenges

For CFOs and CROs

  • Capital management - determining improved capital structure, especially for location, source, and capital measurement
  • Value enhancement - overcoming market undervaluation of companies with multiple reporting bases, particularly in the Life sector
  • Climate change and the rise of natural catastrophes - magnitude of loss exposures and greater difficulty in modeling risk exposure

For COOs and CMOs

  • Operational efficiency improvement - from managing costs to core business process outsourcing, limiting fraud leakage, and increasing distribution channel efficiency
  • Complex product innovation - increasing variety of complex products, e.g. variable annuities
  • Customer experience improvement - improving omni-channel customer value and profitability via a cohesive digital & social media strategy

For CEOs

  • Market consolidation - finding the right business and operating model strategy for distribution channels , mergers, acquisitions, and divestments
  • Heightened regulatory pressures and compliance requirements in multiple jurisdictions, including Solvency II, EEV, MCEV, and IFRS developments

For CHROs

  • War for talent - securing, keeping, and developing the right people

For CIOs

  • Information technology - legacy-system integration & upgrades to match regulatory, digital, big data, and other technological developments

How KPMG can help

For CFOs and CROs

    For CEOs

    For COOs and CMOs

    For CHROs

    For CIOs

  • IT Strategy & Governance
  • Running IT as a Business
  • IT Solution Delivery
  • IT Sourcing
  • IT Project & Program Management

Sector involvement

Our dedicated involvement in the insurance sector is key to providing our clients with services adapted to the most recent trends. We therefore work closely with selected partners:

Decavi Institute

As part of a commitment to further develop and professionalize the insurance sector, Laurent Feiner, founder and managing director of Decavi, has, in collaboration with the KPMG network in Belgium, established the Insurance Academy. The objective of the Insurance Academy is to study and evaluate new trends, developments and leading practices related to insurance products, insurance markets and the management of distribution channels. Serving as a “business school”, the Insurance Academy’s purpose is to initiate a broad and in-depth discussion of the Belgian insurance sector. It is dedicated to building a bridge between professional insurance experts and those with academic actuarial knowledge. The Insurance Academy is a platform for sharing knowledge and exchanging best practices on developments and trends in insurance products and distribution channels.

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Why KPMG?

We offer more than 50 dedicated insurance team members in Belgium and more than 6,000 insurance professionals worldwide who are accessible to you through KPMG’s network and mobility program. Because your challenges are rarely one dimensional our professionals deliver the right complement of specialists – in audit, actuarial, tax, regulatory, forensic, business operations, information technology, and more.

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Karel Tanghe

Karel Tanghe

Partner Insurance

+32 (0)27084225

Workshops & Seminars

Video - Global Insurance Regulation