Ins
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Insurance

The Insurance ecosystem is currently confronting low interest rates, increasing competition and ever higher client expectations. It is also facing its greatest and most significant Finance Transformation through the combined transition to IFRS 9 and IFRS 17. This is a time of opportunity for in depth transformation, redefining operating models and leveraging technological advancements.

How we work with clients

Finance Transformation is the answer to a wide spectrum of business challenges for the Insurance industry. We support our clients on a variety of projects from design, accounting advisory, and normative intelligence, through to technology selection, implementation and remediation.

Our support includes

Future of Finance. Upgrading your capabilities while managing your cost and developing your team (continuous accounting, cost-efficiency, Environmental and Social Responsibility management).

Regulatory. Transforming normative challenges (such as IFRS 17, IFRS 9 or Solvency II) into improvement opportunities for your systems and processes.

Data Strategy. Developing a transversal approach for data management at the centre of the decision making process (centralisation, pricing policy, best practices, data valorisation).

Innovation. Integrating the latest technological innovations to improve the client and employee experience (ERP Cloud, AI, Blockchain or Smart Contracts).

Alpha FMC - Why Alpha

Why Alpha?

Our dedicated team is focused on servicing the Insurance industry and benefits from extensive knowledge of the sector.

Our specific experience with similar clients and industry best practice means we are able to mobilise quickly to deploy relevant capabilities within your business.

Our team has worked on all of the challenges of Finance Transformation and can support from design through to implementation.

Q&A with Stanislas Vital, Head of Insurance

What are the current challenges facing the Insurance industry?

The Insurance sector is facing several challenges simultaneously. On the one hand, the regulatory upheaval with both IFRS 9 and IFRS 17 will completely change financial statements. On the other hand, operations must evolve to meet rising client expectations while still facing increasing risks in a low interest rate environment.

How can Alpha support clients in carrying out their project?

The launch of our Insurance practice, and the strategic recruitment of a dedicated team, allows us to focus our energy exclusively on Insurers. We are able to support our clients from design through to implementation thanks to our combination of finance knowledge and system expertise.

How can Insurers achieve progress towards the Future of Finance?

The Future of Finance must be the aspiration of every CFO. This is a journey of modernisation of the operational processes, reporting capabilities and cost structures. It all begins with the definition of a clear Target Operating Model. It must include innovation and data management, not only as corollaries of operational constraints, but as fundamental factors to a successful transformation.