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Highlights

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

Insurance Market Update – January 2012
In this issue, we focus on changes to the claims value chain in the motor market arising from the banning of referral fees and the introduction of Alternative Business Structures, and also consider the state of the domestic household market.
Solvency II – The volatility challenge
Solvency II will amplify the impact of market fluctuations, affecting insurers’ capital levels and creating a clear priority for senior management to consider how best to manage volatility and address the issues it will create. In this paper we discuss how companies that succeed in managing the additional balance sheet volatility caused by Solvency II can obtain competitive advantage.
Future proofing the UK mutual insurance sector
This paper reviews the factors which contributed to the current position of the insurance mutual sector, the drivers for ongoing transformation and the challenges which mutual insurers are likely to face. In light of this, we also assess the future of the sector and the options that individual mutuals can adopt to survive.

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.