Now is the time to examine fundamental issues that could determine how insurers can take strategic and tactical steps to succeed in this segment. For many companies, the rule raises a few basic questions: “Do we want to be in the business or don’t we? Are we going to put in place this set of compliance processes to monitor ourselves, and will that require a whole new systems refresh? And, do we want to bring in a whole new layer of people to get this done?’’ said Michael Herman, KPMG’s Insurance Industry Customer and Distribution leader.
By taking a deliberate approach that assesses how the fiduciary rule will change the retirement-investment industry, KPMG can assist insurance organizations with a retirement-investment business understand the changes it may need to institute going forward.