risk regulation


Risk & Regulation

In addition to quantitative aspects of Solvency II and SST, insurers are beginning to deal with the qualitative and reporting requirements (e.g. IFRS 4 & 9). The challenges are compounded by additional Swiss, EU and US legislative and tax requirements: FATCA, CH:UK and CH:D tax agreements.

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Deloitte capabilities:

Actuarial Support

Our market-leading actuarial practice has in-depth experience with solvency modelling. This comprises the set-up of models as well as model validations where our state-of-the-art Deloitte model validation concept is used. Of course our actuaries are also involved in other important risk and regulatory topics such as IFRS 4 Phase 2, where actuaries are facing many changes. Furthermore we take on external mandates as Appointed Actuaries and are leading experts in the review of insurance reserves.

Risk Management System

We have identified 16 components in a complete Risk Management System spanning the articulation of a Risk Strategy by the Board; creation, maintenance and validation of Internal Model; to people & culture aspects related to changing the mindset of the employees.

Functional risk areas

The roles, responsibilities, and, consequently, required capabilities of specific Functional Areas from Internal Audit, to Actuarial and Risk Management are changing. Deloitte assists insurers by explaining the new requirements, designing any required changes and helping their employees transition.

Regulatory Monitoring

It is proving difficult for insurers to keep abreast of the new Swiss and EU regulations being introduced that have a wide ranging impact from remuneration to policy terms and conditions. We have a dedicated team of lawyers specialized in regulations and tax which monitor the flow of new requirements.

Requirements for Documentation

Requirements for documentation have increased substantially and companies are responding because good documentation can be used to prove to regulators that the insurer meets all the new requirements. We help define the structure and scope of documents.

Good Governance

Good governance is more than just a legal or regulatory compliance issue. Using Deloitte’s Insurance Governance Diagnostic tool we help Boards understand their current governance structure – both how to put the controls in place and how they direct their companies. This includes governance for the role of Chief Compliance Officer as defined by FATCA.

Forensic & Dispute Services

We offer a comprehensive range of proactive and reactive Forensic & Dispute services with a dedicated team of accountants, investigators and technology experts. Our team has unparalleled experience in the financial services sector and covers the areas of Forensic Advisory and Investigations, Dispute Services as well as Analytic & Forensic Technology solutions. Deloitte is the market leader for FATCA back book remediation and can deploy a proven accelerator toolset.