Insurance solutions

New capital requirements are just one of the challenges UK insurers must contend with in the industry’s altered landscape. Globalisation and the intensifying search for competitive advantage mean that almost every aspect of the industry is under scrutiny. Insurers will always need strong foundations, but what constitutes strength in today’s market when so many of the fundamentals are changing?

Our UK Insurance practice combines industry knowledge and insight with technical expertise, as well as strategic advice and practical solutions to offer insurance companies – our clients include many of the UK’s leading general and life houses. We can help you to assess and enhance your operating model, create effective governance structures and realise efficiencies in processing and distribution. Where do the next opportunities lie?  Our understanding of the industry trends and insight into the regulators’ thinking will help you build for the future.

Insurance industry research and insights

  • What makes customers tick? Understanding customer behaviour in retail general insurance
    Based on a survey of over 2,800 customers, this report explores five seemingly 'irrational' behaviours and why customers adopt them. It also explores the implications of the behaviours and what insurers should do to improve customer experience. In the report we set out the findings of the survey and propose practical steps on how to improve customer experience.
  • Lloyd’s Conduct Risk Minimum Standards
    Lloyd’s has released its new Conduct Risk Minimum Standards with compliance potentially required of all Managing Agents by 1 January 2015. The Standards aim to assist Managing Agents to meet FCA expectations and increase consistency across the market.
  • Market Consistent Embedded Value Report
    This report summarises the embedded value results of fifteen major insurance companies in the UK and Europe, and considers the key drivers of the embedded values.
  • Insurance Accounting Newsletter, Issue 30
    The IASB redeliberations start apace: decisions on CSM unlocking, OCI solution and revenue presentation achieved in two months.

Issues and trends within the industry

  • Retail Distribution Review
    The changes required as a result of the RDR are likely to have wide reaching impacts across organisations in the retail investments market.
  • Solvency II
    Solvency II’s proposed 2012 ‘go live’ date may seem a long way off, but the scope of the changes required means that companies need to be taking action now.
  • IFRS
    The new IFRS and US GAAP accounting standard will radically change the way insurance businesses present their profit and level of insurance liabilities.