Insurance

The Australian insurance industry provides a broad range of property and casualty, life, and health insurance coverage to individuals and businesses.

The Australian insurance industry provides a broad range of property and casualty, life, and health insurance coverage to individuals and businesses. It acts as an important buffer for the Australian economy, softening the financial impact of events on the public purse by funding claims out of the private sector.

PwC has a deep team of insurance industry specialists serving insurers across a wide range of professional services. We are currently helping clients succeed during this period of evolution by advising on strategies around customer engagement and retention, big data and digital technology. We are also active in helping clients with their implementation of risk and capital frameworks that meet LAGIC & ICAAP requirements, with optimising direct and indirect tax outcomes, with enhancing systems and controls effectiveness and efficiency, and with providing independent assurance across financial and regulatory reporting.

Key to our team's ability to think broadly and differently to help clients is our depth of understanding of what is happening in the industry both locally and abroad. Some of this local understanding is reflected in PwC's Insurance Insights series; quarterly accounting, tax and regulatory updates; and PwC's widely recognised annual Insurance Facts & Figures publication. Examples of our understanding of global trends and how these will impact on the local market are reflected in PwC's Insurance 2020 - The Future of Insurance; Insurance Banana Skins; and updates on IFRS for Insurance Contact updates.

Scott Fergusson
Partner, Sydney
Tel: +61 (2) 8266 7857
Email
Scott Hadfield
Partner, Sydney
Tel: +61 (2) 8266 1977
Email
Voula Papageorgiou
Partner, Sydney
Tel: +61 (2) 8266 7802
Email
Rod Balding
Partner, Sydney
Tel: +61 (2) 8266 1324
Email
Peter Kennedy
Partner, Sydney
Tel: +61 (2) 8266 3100
Email
Christa Marjoribanks
Partner, Sydney
Tel: +61 (2) 8266 5790
Email
Jason Slade
Partner, Melbourne
Tel: +61 (3) 8603 4803
Email
Stuart Goddard
Deals
Tel: +61 (2) 8266 7230
Email
Shane O’Sullivan
Principal
Tel: +61 412 620 255
Email
Sean Colvin
Partner, Sydney
Tel: +852 2289 3474
Email
Michael Playford
Partner, Sydney
Tel: +61 (2) 8266 5478
Email

IFRS 17

With the new IFRS standard for insurance contract accounting expected in early 2017, we have produced some recent thought leadership that might be of interest. Even with an expected effective date of 2020 or 2021, the long lead time is a reflection of the complexities anticipated around implementation. This publication outlines important things that insurers should be thinking about now.

Data risks of insurance in superannuation - June 2016

For superannuation funds with Group life insurance, managing data can be a complex proposition amidst high regulator expectations.

PwC's Insurance Facts and Figures - May 2016

The insurance industry is as competitive as ever with all elements grappling with the effects of various drivers of change, including changes in social behaviour, developments in technology, long term low economic growth prospects, volatile weather patterns and events, and a continually evolving political and regulatory environment.

Seizing the future - 19th Annual Global CEO Survey/February 2016

This report is a summary of the key findings in the insurance sector, based on a survey of 101 insurance CEOs in 43 countries and in-depth interviews with Peter D. Hancock, President and Chief Executive Officer, AIG (US) and Dr Nigel Wilson, CEO, Legal & General (UK).

Insurance Banana Skins

What risks do insurers face both globally and locally in the current climate and how are they positioning them?

Stopping the leaks Jan 2015

Improve productivity, customer satisfaction and profitability through better control of claims leakage

Insurance Facts and Figures Asian Region 2013

PwC PricewaterhouseCoopers Australia - PwC combines technical expertise with industry know-how to provide a market-leading array of professional services.