Towards the Final Frontier

Towards the Final Frontier

Business perspectives on insurance accounting proposals.

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Head of Quality and Risk Management

KPMG in Luxembourg

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In this publication we examine the most important business implications for executives to consider in response to the most recent insurance accounting proposals.

Throughout the publication we:

  • Present a high level guide to the key accounting changes including, the measurement model, volatility, financial instruments accounting and asset-liability management.
  • Consider the potential changes to systems and processes, such as changes to modeling and administration systems, as well as systems used to collect and aggregate data for disclosure.
  • Outline the people and change impacts. Not only will there need to be increased resources to manage the change, but also the talent that insurers need after the transition may differ from those required today.
  • Discuss the broader business impacts and why the changes may affect the types of products that an insurer sells, the investments that it holds, executive compensation arrangements, and how insurers communicate to the market.
  • Address how an insurer brings everything together through a coordinated approach to program management. We consider what insurers should be doing now ahead of a final standard.

 

Towards the Final Frontier articles

 

  • Accounting and Reporting Considerations
  • Systems and Process Considerations
  • Talent Considerations
  • Business Considerations
  • Bringing it all together

  • Towards the Final Frontier home

 

 

Related links 

  • Accounting change experience
  • New on the Horizon: Insurance contracts
  • In the Headlines: Insurance contracts
  • New World for Insurance: Preparedness and readiness survey

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