Many insurance companies have accumulated “hidden treasure” in the form of their data. Using this data to build a deep understanding of your business and environment can help you gain and retain a competitive advantage.
Using data visualisation and artificial intelligence, including machine learning, we help you to unlock that value, enabling you to make better decisions more efficiently than ever before. By focusing on both the technology and end-to-end processes, we help you realise lasting business benefits, whilst effectively managing model risk.
In today’s interconnected, technology-enabled business world, insurance companies need to balance using technology and data to drive their business with building resilience against information security threats.
In the past, information security practice has concentrated on the use of technology and process. By broadening this focus to not only encompass this, but to emphasise the importance of cybersecurity culture and the crucial role that people, their values and behaviours have as a way of mitigating risk, we help you enhance capabilities and gain competitive advantage.
As enterprise risk management has evolved, it has proved to be difficult for firms to create tangible value and avoid processes being seen as “tick box” exercises, remote from business decision-making.
Crowe focuses on helping you to enhance the effectiveness and cost-efficiency of your enterprise risk management to truly enable and support strategic business decisions. This helps to ensure that it supports not just managing the downside but also optimising the upside, whilst meeting the broad range of stakeholder expectations.
The extended enterprise, with significant use of third-party vendors and suppliers across the value chain, is normal in today’s business environment. However, many firms have to implement the necessary changes to obtain sufficient assurance about their third-party risks.
Crowe leverages significant practical experience to deliver smart, risk-based solutions to help improve insurance companies’ operational resilience and reputation management.
Insurers face a significant regulatory burden. We help firms to get behind the detail that drives the desired regulatory outcome. This enables us to support you in developing processes and governance that meet the needs of customers and help you deliver your strategic objectives; detailed compliance is then satisfied as an important byproduct.
Crowe is able to carry out Skilled Person reviews under Section 166 of the Financial Services and Markets Act 2000, in relation to governance and individual accountability, and controls and risk management frameworks.
Risk based approaches to artificial intelligence
Stick or Twist? Illustrating and Assessing Wealth Manager’s Strategic Back Office Technology
Cyber Risk: Getting the Balance Right
Assessing the Value of Risk Management: Forming a Clearer View