Consulting and Audit Services for the Insurance Industry

Consulting and Audit Services for the Insurance Industry

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Because Reliability is Essential in Times of Change

The insurance industry is undergoing rapid transformation. Complex regulatory requirements, the digital transformation of the industry and the increasing importance of sustainability issues require robust solutions and efficient processes. Customer expectations are rising regarding the development of new products and business models, and at the same time it is crucial to gain and maintain customer trust. As an agile auditing and consulting partner, we help you to navigate these dynamic change processes and make the best possible use of them. Through our in-depth industry experience and in close cooperation with you, we find tailored solutions and suitable strategies to meet compliance requirements and ensure your long-term competitiveness. Our clients include insurance companies and groups across all lines of business, reinsurance companies, occupational pension institutions, insurance brokers and financial intermediaries, sales organizations, and supervisory authorities.

Insurance Companies

We have comprehensive expertise in primary insurance, including property/casualty, life, and health insurance, as well as reinsurance. Additionally, we provide advisory services across all areas of insurance supervision. Our service portfolio particularly includes audits of annual and consolidated financial statements in accordance with HGB and IFRS. Our streamlined audit processes ensure efficient resource utilization, benefiting our clients. We guide you through all phases of corporate transactions, portfolio transfers and restructurings, offering tailored solutions to meet your specific needs. Your business success is always our priority. Together, we drive progress towards sustainable stability..

Our range of services for insurance companies:

  • Audits of annual and consolidated financial statement in accordance with HGB and IFRS
  • Auditing of solvency overviews in accordance with Solvency II
  • Support or complete takeover of internal audit functions
  • Implementation of DORA and CSRD regulations
  • Risk management, insurance supervision, and regulatory affairs
  • Preparation of valuation, accounting and other expert opinions
  • Support in the preparation of (annual) financial statements for special topics (e.g., deferred taxes)
  • Tax consulting services (e.g., transfer pricing)
  • Other assurance services
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IOR - Pension Funds and Pension Plans

Among the institutions of occupational retirement provision, pension funds and pension plans are facing growing challenges due to regulatory and accounting requirements. Our qualified auditors, with extensive experience in occupational retirement, support you in all audits relevant to pension funds, pension plans and all other pension institutions. We provide you with comprehensive advice based on up-to-date regulatory knowledge and offer you auditing and consulting services at the highest level, backed by our industry expertise. In this way, we guide you securely and on an equal footing in your sustainable growth.
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Supervisory Authorities

Insurance supervision is responsible for effectively monitoring insurers and thereby contributing to the long-term stability of the sector. To maintain and enhance customer confidence in the insurance industry, the protection of policyholders and beneficiaries of insurance benefits, and particularly the supervision of solvency, are of paramount importance. The service portfolio of our insurance experts is tailored to meet the specific needs of supervisory authorities. With our in-depth understanding of the complex tasks, powers, and requirements of the insurance market as well as the regulatory landscape, we provide them with expert and targeted support in fulfilling supervisory responsibilities.
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Digital Transformation, AI, and Cyber Security for the Insurance Industry

The digital transformation is bringing numerous changes and new requirements for the insurance industry. At the same time, it also opens new opportunities, such as the possibility of increasing efficiency and reducing costs through process automation. It is crucial for insurance companies to always maintain vigilance regarding cyber security. Cyberattacks are a growing threat that evolves daily, and companies should be well prepared to respond quickly to incidents to minimize potential damage and downtime in the event of a successful cyberattack. We can provide you with comprehensive information and support you in implementing the appropriate defensive strategies.

In addition, the use of artificial intelligence can significantly accelerate claims processing by enabling automated claims analysis and optimizing communication with clients. The implementation of intelligent systems allows insurance companies to develop customized policies based on individual risk profiles, leading to improved risk assessment and higher profitability. The continuous advancement of artificial intelligence will significantly expand the ability of insurance companies to recognize complex data patterns and perform predictive analyses. These developments will enable companies to take proactive measures to better manage risks and create personalized offerings that meet the changing needs of clients.

Our 360° Approach

We offer comprehensive support through customized auditing and consulting services. With our expertise and best practices, we collaborate with you to shape the future of your industry as a stable and trustworthy insurance landscape. We support insurance companies across all sectors and provide 360° support that goes beyond traditional auditing. Our services in the areas of Audit & Assurance, Tax & Legal, Advisory, and Business Services Outsourcing provide a holistic offering tailored to your company's needs. We work closely with other financial services specialists and insurance experts from other German-speaking countries and leverage the global BDO network across sectors and borders.

Our Services: Consulting and Audit Services for the Insurance Industry

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Markus Müller

Markus Müller

Auditor, Partner, Financial Services Insurance
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