Finance & Risk

Sure footing for insurances: precise profit management, risk control and compliance with regulatory requirements.

Your Contact Person

Dr. Sven Jansen | Director
Hammer Straße 165
48153 Münster
Germany
Germany

We advise you regarding the development and implementation of sustainable measurement and management concepts and support you with their application. In this context, practical feasibility is also of importance to us. zeb supports you at every stage of the change process, from the adaptation of organizational and process models to the parameterization of adequate IT solutions. Likewise, you can also count on our competent support for all regulatory matters at any time. Benefit from the advantages of zeb’s excellent subject knowledge and wide range of IT solutions — e.g. an integrated Solvency II solution — when tackling the implementation of regulatory requirements. We can draw on a large network of experts with extensive practical experience in the insurance industry and on a broad conceptual understanding of overall coherences as well as specific details. This enables us to make sure that you are on sure footing for all future events.


Our Services

Treasury & ALM

Two master keys for success.

There may not be a universal formula for success for insurance companies, but there is no doubt about two key ingredients: effective treasury management and asset liability management. In this context, it is important to adjust the strategic alignment and management to the current market situation and new regulatory requirements on an ongoing basis. In order to secure competitive advantages, it is furthermore necessary to constantly keep subject knowledge up to date, to recognize weak spots at an early stage and to identify potentials holistically and leverage them systematically. We at zeb have in-depth subject knowledge in these areas and offer proven solution approaches for the business as well as the IT side. Our competent zeb consultants develop a treasury strategy that is suited to your business model and support you in conducting the implementation in accordance with financial and risk management aspects. We support you in establishing strategic and operational management processes, in making your strategy calculable and in revealing potential risks. Another important prerequisite for the success of your treasury is the implementation of a comprehensive liquidity/funding approach and an efficient credit treasury. In addition, we are happy to carry out an evaluation of your software landscape and to develop made-to-measure IT solutions for you.

Nevertheless, good control is also an important factor for sustainable success. That is why we develop and implement an effective investment controlling and risk management for your asset classes.


Your contact person
Dr. Wilhelm Menninghaus | Partner
Phone: 
+49-251-97128-142
Email: 
wmenninghaus [at] zeb [dot] de
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Financial controlling and reporting

Ahead of the pack with an information edge.

To reach your aim, you need to know it in the first place. This also holds true for the insurance sector. You can only plan and manage the success of businesses, customers, products or channels if you know what it depends on. This is exactly why financial controlling and reporting are so profitable for insurance companies. Successful financial controlling encompasses the identification, planning and management of all income and cost components. It supplies all relevant information down to the level of single transactions and allows an efficient management of the profit centers and customer and product dimensions, while always explicitly taking the cost calculation into account. Financial controlling creates transparency regarding the performance on the income and cost side, whereas effective reporting is concerned with informing all relevant decision-makers about it in a clear and concise manner. The success of the entire corporate management can depend on the reporting solution. Modern, recipient-oriented reporting ensures quick and simple data access, provides a focused layout and offers the possibility to develop own reports. We at zeb can draw on extensive know-how and long-standing experience in the area of financial controlling and reporting. Our service portfolio covers everything from revenue controlling, single transaction costing, cost and productivity management and top management reporting to IT solutions and a made-to-measure IT architecture for controlling and reporting. Are you ready to set sail for new aims and horizons? Then, let’s weigh anchor together!


Your contact person
Dr. Stefan Trost | CEO zeb Nordics
Phone: 
+49-251-97128-202
Email: 
strost [at] zeb [dot] de
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Quantitative methods

Advanced mathematics for reduced risks.

Things were not necessarily better in the old days. But it is true that they were often simpler. Insurance services, for example, have become more and more complex in recent years, and the requirements for the modeling and measuring of related risks have increased in equal measure. zeb can help you meet these increasing requirements and supports you from the development of concepts for quantitative methods until the implementation within the IT. We provide you with appropriate professional methods based on mathematical-statistical procedures, which will serve to assess risks and to establish economic cause-and-effect relations. With the help of transparent models, complex topics are translated into an economic context in a comprehensible and purposeful way. Our strong support furthermore comprises the modeling and measuring of all types of risks and the definition and validation of risk parameters. Thanks to the comprehensive know-how of our experts and our long-standing project experience, we can offer solutions for quantitative and methodological issues relating to all topic areas of modern corporate management. Because we want to give you the secure feeling that everything will get better and easier.


Your contact person
Dr. Sven Jansen | Director
Phone: 
+49-251-97128-131
Email: 
sjansen [at] zeb [dot] de
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Dr. Joerg Uhlig | Senior Manager
Phone: 
+49-251-97128-246
Email: 
juhlig [at] zeb [dot] de
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Regulatory services

Compliance made easy—with zeb.

For us at zeb, the term “regulatory services” implies making independent, competent service provision the norm. To this effect, we offer a variety of services in relation to risk, compliance and legal topics and thereby offer you our support with the development and introduction of a sustainable risk and compliance framework structure. This framework structure includes guidelines, instructions and processes that will make the handling of risks and regulatory requirements much easier for you. In addition, we can also support you with advising and training your managerial staff regarding all relevant risk management and compliance topics, with making applications to supervisory authorities and with handling ICAAP (Internal Capital Adequacy Assessment Process) and comparable processes such as self-assessments. Our service portfolio furthermore comprises the identification, assessment and (if necessary) reporting of relevant risk exposures of your company. We guarantee you an independent risk reporting for the management board and managerial staff, alert you about risks that could arise as a consequence of a non-compliance with regulatory requirements and make sure that new products and processes of your institution are always in keeping with current legislation. At all stages, our expert knowledge and our extensive range of services only serve one goal: your satisfaction.


Your contact person
Jonas Schödin | Partner
Phone: 
+46-86705-974
Email: 
jonas [dot] schodin [at] zeb [dot] se
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Finance, risk & regulatory management

Ensuring a more secure future for insurers.

At zeb, our mantra is: tackle challenges without taking risks. Nowadays, insurers need to adjust their corporate management on an ongoing basis with regard to subject-specific, methodological and organizational aspects. The current competitive, pricing and cost pressure necessitates a substantial modification and enhancement of their financial and risk management units. It is the only way in which insurers can adequately implement regulatory requirements and thereby secure a permanent competitive advantage for themselves. Moreover, the current low interest phase on the capital markets constitutes a heavy burden for life insurers, which can be eased most effectively by means of a systematic and integrated asset liability management. And finally, the EU legislators and supervisory authorities (EIOPA) have adopted considerable additional requirements for risk management and reporting with the new supervisory regime Solvency II. Insurers will now have to make all efforts to implement these requirements until the effective date of Solvency II on January 1, 2016. In short, it is high time to face these new challenges. We are looking forward to supporting you with it.



Your contact person
Dr. Sven Jansen | Director
Phone: 
+49-251-97128-131
Email: 
sjansen [at] zeb [dot] de
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Accounting / IFRS

Accounting standards under control

For insurance companies that use IFRS, comprehensive changes will be made in upcoming years regarding the balance sheet, income statement and notes. With IFRS 9, new detailed rules will be set for the accounting of financial assets. In addition, IFRS 17 will establish standardized provisions for accounting insurance contracts for the first time. Insurance companies are obliged to implement both accounting standards by January 1, 2021 by the latest—for insurance companies that are part of a concern whose main business activity is not insurance, IFRS 9 will already apply from January 1, 2018.

The simultaneous implementation of IFRS 9 and IFRS 17 represents a major effort for the insurance industry that will tie up internal and external resources before the date of initial application and beyond. Due to the double burden of almost identical resources, there is already a noticeable resource squeeze within the fields of accounting, actuarial services and IT at many insurance companies.

An early examination of the requirements of the standards, the related challenges and the potential project risks is therefore very sensible due to the tight implementation schedule. Indeed, implementation involves much more than measuring and posting business transactions differently. It necessitates compre­hensive changes to existing annual financial state­ment processes, organizational structures, IT systems and data structures.

As the no. 1 strategy and management consultancy for financial services in Europe, we can look back on many years of comprehensive expertise in accounting and IT topics at renowned insurance companies. Benefit from our comprehensive range of services from a single source: we provide all aspects from an integrative business perspective and process support to the technical implementation of requirements on various software platforms.

Solving your accounting issues with support from thought to action—that is what the experts from zeb can offer you.

For additional information please order a free copy of our brochure Accounting for insurance contracts IFRS 17—Case study for non-participating contracts Xenia [dot] Kern [at] zeb [dot] de (subject: brochure%20Accounting%20IFRS%2017) (here).



Publications



IFRS 17 - challenges and zeb-service proposal
For further information please click here.

 

Webinar on IFRS 17, May 18th 2017
For further information and registration please click here.


Your contact person
Dr. Sven Jansen | Director
Phone: 
+49-251-97128-131
Email: 
sjansen [at] zeb [dot] de
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