Making complex issues manageable
The Insurance industry is currently facing a long list of challenges, including increased regulation, a hyper-competitive market, rapid technological innovation, and widespread consolidation. To stay ahead of the competition, organizations need to find new ways to manage margins and preserve capital. By staying vigilant and maintaining flexibility, they can implement sound decision-making processes as well as risk mitigation strategies. But to do so, they have to consider the big picture – everything from investment strategies, diversification, reinsurance, and cyber-security to mergers, acquisitions, joint ventures, and strategic alliances.
At BDO, we’re dedicated to understanding the complexities our clients face every day. Our Insurance Practice uses their experience and in-depth industry knowledge to offer proactive, value-added advice. Providing a tailored approach to each client we work with, BDO helps organizations comply with evolving accounting and regulatory reporting requirements.
Our range of services is extensive, including assurance and tax, tax provision assistance, international tax compliance, commodity, and premium tax filings. Our talented team of professionals also provides comprehensive advisory services that include Risk Advisory, Enterprise Risk Management, ORSA support, Internal Audit, full back office accounting support, P&C1 and 2 preparation, income replacement adjudication and filing services.
BDO’s technology services has a strong history in enabling digital transformation by enhancing client engagement, minimize claims leakage, manage risk & fraud, and drive product innovation & price optimization. We have helped our clients with the technical demands of the industry by; penetrating new markets embracing digital, sustaining competitive advantages through data analytics, sales optimization & enhancing client engagement with CRM, enabling technology costs savings with the Cloud, and ensuring information management & security protection.
BDO’s expansive international network of resources spans more than 150 countries, allowing our people to give guidance grounded in local knowledge. Our national and international experience also helps us identify and evaluate potential partners for our clients, as well as valuable opportunities for growth.