insurance | KPMG | ID

Insurance

Insurance

The Indonesian insurance market, having one of the world’s largest populations and high historical insurance premium growth rates, is one of keen interest.

However, KPMG recognizes that today's economic environment is forcing insurers to rethink the way they carry out business. Financial services companies have been brought to a crossroads by a number of challenges in the market:   

  • unpredictable markets
  • regulatory changes and updates 
  • compliance 
  • disruptive technologies  

From a regulatory perspective, recent changes such as the listing of Indonesia as a member of the IAIS (International Association of Insurance Supervisors) and the implementation of IFRS 4 phase 1 in 2012 have arguably put the local regulatory framework under a stronger international spotlight.  As a financial institution, life insurance companies face challenges in compliance with the above as well as the Foreign Account Tax Compliance Act (FATCA).

 

How we can help

This environment puts an emphasis on timely and sound business decision-making. KPMG Indonesia’s Insurance practice provides guidance on the challenges faced by those in the insurance sector.

We assist clients in the fulfillment of their accounting, reporting, risk management and governance obligations, and provide guidance on regulatory issues as they unfold. Our Insurance professionals can also develop strategic and performance oriented business models. 

We combine a strong local presence with access to a global network of experienced insurance professionals.

Evolving Insurance Risk and Regulation

Chapter 1: International developments dominate regulatory change

 
Read more

Empowered for the future: Insurance reinvented

Insurers have been trying to transform their organizations for decades.

 
Read more

Helping insurers compete in the age of disruption

Insurance has always been about risk transfer driven by data and analytics.

 
Read more

Insurance M&A trends: A year in review and predic...

M&A continues to play a critical role in enabling insurers to pursue their strategic am...

 
Read more

The Power of Alliances

Increased competitive pressure, new regulations, evolving customer demands and new tech...

 
Read more

Marketplace of Change

Automobile Insurance in the Era of Autonomous Vehicles.

 
Read more

Connect with us

 

Request for proposal

 

Submit