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Insurance companies have to face three main challenges: being able to grow, operate and adapt to a fast-changing local and global economic landscape. Moreover they have to comply with more demanding regulatory mandates while coming up against fiercely competition.

Besides, Deloitte Luxembourg has developed different centres of excellence for Solvency II, IFRS4 and policy management. All those topics are positioned to address insurers’ issues:

Business issues identified

Positioning for growth

Even in the economic downturn, global insurers are positioning for growth, planning to enter or expand in faster growing markets around the world. Aiming to improve the "customer experience" by, for example, driving focus on new product development, distribution models and retail strategies including the enhancement of delivery channels, as well as seeking merger and acquisition opportunities.

Capital / balance sheet management

In the current tumultuous market, following close on the heels of the banking sector's need to manage both capital and the balance sheet at an operational and regulatory level, insurance companies facing a shortage of credit, market volatility and economic downturn must also address effective balance sheet management. This must cover at least: capital adequacy, short-term working capital needs and investing in a capital structure that supports the firm’s long-term growth.

Cost management

Amplified by the economic downturn, insurance companies are seeking to remove more costs from all areas of their operations. Improving efficiency in claims processing, one of the biggest operating costs to insurers, is key to cost management. Expense management, claims management and the aspects of underwriting are driving movements to outsourcing, offshoring and shared services model implementations.

Risk management

Improved risk management is the top priority of the Chief Executive Suite in reaction to the current financial crisis, ahead of short- and long-term access to capital. The recent market upheavals have emphasised once again that models - their implementation, specification, calibration, and parameterisation - are simple approximations, not “realities”. Insurance companies are looking at all aspects of their risk management practices and this investigation will in many instances reach all levels of the organisation, from the board to the underwriting functions.


Financial institutions will face stricter regulation and oversight. The regulatory umbrella will also expand to cover a broader set of industry segments within financial services. Currently uncertainty exists as to the nature, severity and jurisdictions of the regulation and regulators.


  • Thierry Flamand
    Partner - Insurance Leader

Focus on

  • Insurance and reinsurance
    Taking measures to face your challenges
  • ExternalURL
    Solvency II
    Deloitte can provide the multi-disciplinary approach that ensures all aspects of Solvency II requirements and opportunities are considered

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