02Industry
Insurance
Insurers and takaful operators carry a distinctive governance burden: the organisation is in the business of underwriting risk, which makes the quality of its own risk framework a matter of solvency rather than housekeeping.
—Where the pressure sits
What we are asked about most in this sector.
- 01
Reserving and actuarial governance
Independent oversight of assumptions, reserving adequacy and the controls around actuarial inputs.
- 02
Conduct and customer outcomes
Sales practices, claims handling and complaints management increasingly assessed on outcomes rather than process.
- 03
Takaful-specific governance
Shari'a governance, participant fund segregation and surplus distribution require control structures conventional frameworks do not address.
- 04
Reinsurance and counterparty exposure
Concentration and recoverability risk that needs to sit visibly inside the ERM framework.
—Practices we bring
The services most often applied here.
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