Historically low interest rates, changed client behavior and regulatory requirements not only bear risks for Swiss insurers but also opportunities.
Regulatory requirements not only bear risks for Swiss insurers but also opportunities.
KPMG's Swiss Competency Center Insurance serves as a first-rate sounding board by offering a multidisciplinary approach. As advisors, we offer pragmatic solutions and work side-by-side with our clients to implement them.
These days, insurers are confronted with numerous complex challenges. These range from macro-economic insecurity due to low interest rates all the way to new client behavior arising as consequence of digitalization. On top of that, insurers are dealing with new technologies and the subsequent surge of new companies into the market.
At the same time, new regulations issued by FINMA, the Swiss Federal Office of Public Health and international supervisory authorities make it increasingly harder for insurance companies to meet regulatory requirements. Strict solvency requirements because of Solvency II or the Swiss Solvency Test (SST), amended reporting rules due to IFRS 9, IFRS 17 or ORSA as well as the new public disclosure rules are game changers for insurers.
All of these factors present significant risks for insurers, but they also offer an opportunity to rethink existing strategies, critically question the current business model, optimize operative processes and grow with innovative products and a better understanding of their clients.
KPMG’s multidisciplinary teams – consisting of industry specialists – are there when you need them with a comprehensive solution to help you master these challenges.
Setting up an insurance operation in Switzerland (PDF)
Interne Revision: Sourcing bei Krankenversicherern (PDF, in German)
Public disclosure (PDF)