The four corners of insurance reporting

Deloitte’s collaboration with the life insurance sector over the past two decades, a period of investment to cope with regulatory and business challenges of unprecedented intensity, demonstrates that life insurance chief financial officers (CFOs) are now better positioned than ever to build more effective steering frameworks.

The past 20 years of life insurance regulation focussed on reported profits and measures of capital. This is not surprising given these metrics determine a life insurer's return on capital (ROC)—by far their most important performance indicator.

Deloitte’s “four corners of insurance reporting” framework ("four corners framework") coalesces all relevant facts, enabled by various reporting bases having become more homogenous, to empower life insurance CFOs to maximise ROC. The four corners framework allows life insurers to explain their results and prepare coherent plans and forecasts across two interconnected dimensions of ROC. Furthermore, it enables life insurers to intuitively identify areas where underlying data, systems and processes can be improved to achieve more granular, faster reporting capabilities that elevate the business contribution of the finance and actuarial function.

Contact us:

Francesco Nagari
Deloitte Global Lead IFRS Insurance Contracts
and Asia-Pacific Insurance Finance and Actuarial
Transformation Lead
frnagari@deloitte.com.hk

Franck Barbarella
Global Insurance Finance and Actuarial Transformation Lead
frbarbarella@deloitte.com.hk