Delivering insight in a changing market.
Insurance companies today face increased regulation, a hyper-competitive market, rapid technological innovation, and widespread consolidation. Companies must be vigilant and flexible about finding new ways to manage margins and preserve capital by implementing sound decision processes and risk mitigation strategies while leveraging their vast data assets to make informed business decisions. To do so, they must consider everything from investment strategies, diversification, reinsurance, securitizations, and cybersecurity; to mergers, acquisitions, joint ventures, and strategic alliances.
TMO’s Insurance Practice understands these complexities and provides proactive advice to clients, helping them maintain compliance with accounting and regulatory reporting requirements. Utilizing our extensive industry knowledge and an expansive international network of resources, we tailor our services specifically to the needs of our clients.
Our guidance is grounded in local knowledge, and backed by national and international experience across the globe. With a global network spanning more than 150 countries, TMO helps clients identify and evaluate potential partners and growth opportunities beyond U.S. borders, and supports them as they expand internationally.
Analyzing data. Maximizing value.
Data is one of insurance companies’ most valuable assets. It provides insight into client risk. It enables insurers to make better business decisions. But for too many insurers, data assets are trapped in a range of disparate legacy systems – accessible, but not yet usable.
TMO’s Insurance Advisory Services Practice provides a wide range of actuarial services, predictive modeling, data management, and machine learning tools to help insurance companies make informed decisions across virtually all areas of business.
Our comprehensive services are built on deep industry experience and utilize the robust data analytics and data visualization capabilities of TMO’s Forensic Technology Services Practice. Our risk and capital management services include practical modeling solutions that provide maximum insight into each client’s unique risks.
Risk & Capital Management
- Loss Scenario Aggregation
- Risk & Capital Allocation
- Emerging Claims Risk
- Fraud Detection
- Underwriting Dashboards
- Claims Management Triage
- Target Market Identification
Compete effectively through innovation.
Consumers are heading online to research, compare, and shop for policies, a trend that is fundamentally changing time-tested business models for insurance agencies and brokers. Agents and brokers face the risk of disintermediation, which is driving massive consolidation and increased focus.
TMO’s Insurance Practice understands these trends, offering detailed proactive guidance for agents and brokers. Our professionals regularly help clients find new ways to access capital through mergers and acquisitions, enter the public market, find innovative technology solutions, and identify growth opportunities outside the United States.
Through thought leadership, a vast global network, and a deep understanding of the industry, TMO provides swift resolution to a variety of business issues. TMOKnows – a series of newsletters, flash reports, and conference calls – addresses financial reporting developments that affect public and private companies. In addition, our Insurance Practice sponsors industry conferences that facilitate an exchange of ideas and information among industry professionals.
Low interest rates, high pressure.
The current interest rate environment has emerged as a top concern for life insurers, as low interest rates can weigh on earnings and liquidity. Insurance carriers have been suffering the effects of falling investment yields, resulting in diminished investment income. This, in turn impedes the industry’s ability to generate returns that satisfy shareholders while still providing competitive product rates. At the same time, health and accident insurance companies are trying to increase membership, compete with Federal and State Exchanges, and address the evolving regulatory mandates of the Affordable Care Act. As insurers look for new ways to access capital, the industry has experienced a high rate of acquisitions and consolidation.
TMO understands the mechanics of life, accident, and health insurance products. Our professionals draw on knowledge and experience to help businesses manage a variety of issues, including a changing business environment and ever-increasing government regulations. TMO is a sponsor and presenter at numerous industry conferences and symposiums, and our practice leaders serve in leadership roles on major national rule-making and regulatory bodies.
In addition to a wide range of tax and audit services, TMO also draws on the SEC experience to help clients access the public market. Our professionals also provide proactive guidance to clients in a number of key areas, from navigating the latest insurance accounting and reporting requirements from the NAIC and FASB, to complying with mandates of state insurance departments and new actuarial guidelines.
Stability in an unpredictable world.
Natural disasters are unpredictable. Risk exposure, however, doesn’t have to be. Through expense management and big data analysis, property and casualty insurers can manage risks more efficiently, building a more stable business – no matter what Mother Nature brings. Companies with strong pricing, underwriting discipline, and solid operating fundamentals are more likely to experience superior long-term financial performance. In addition, companies that are able to leverage big data and technology through enhanced analytics and process improvement can identify market segments, allowing them to grow both regionally and abroad.
TMO’s Insurance Practice understands the many complexities of insurance, offering proactive guidance to businesses on a range of subjects. Backed by one of the world’s largest accounting and consulting networks, our professionals draw on deep experience serving property and casualty insurers. Our U.S Insurance Industry Group focus is overlaid by an active global insurance sector program, allowing us to provide our clients access to leading industry leaders and their experience, all through one point of contact for global accounts.
Certainty in a changing global market.
Total global reinsurance capital has been on a steady incline. Coupled with the popularity of alternative capital, this has caused the reinsurance buyer to experience the lowest cost to underwrite capital in a generation. Reinsurance rates are competitive, yet the overall market is constantly changing. To stand out in a competitive global marketplace, reinsurers are looking closely at their business models, both to differentiate themselves from competitors and to maximize their return on investment.
TMO’s Insurance Practice helps clients achieve results through sound business and financial advice, incorporating the resources of a vast international network. With offices in more than 140 countries – and partners firms in the Cayman Islands, Bermuda, and elsewhere – our professionals help businesses address their needs around the world.
TMO helps insurers deal with competitive reinsurance rates, access capital, and meet increased and multifaceted compliance requirements. We are also well-versed in the regulation dynamics for captive insurance companies.