Insight

People & organizational impacts of insurance accounting change

Getting ready for Business as Usual (BAU)

For many insurers, Insurance Accounting Change (IAC) standards (IFRS 17 and Long Duration Targeted Improvements LDTI) take effect on January 1, 2023. Driven by the need for compliance and a desire for operational excellence, companies are reimagining their processes, leveraging leading technology enablers, and enhancing risk management, governance, and controls.

However, there is one area that is often overlooked or addressed last—how the change impacts people and organizational functions to which they align. Insurers need to identify and address several considerations as they look to transition to business as usual (BAU), from designing and implementing the target organization structure, to determining the skill sets, and intimate familiarity with the new standards of their people that employees will need for a smooth transition to the new BAU environment.

Read our latest publication that explores the people and organizational impacts of IAC. This publication will cover:

  • Key questions around the people, organizational change, and collaborating across functions
  • Organizational and operating model impacts
  • KPMG accounting change framework

Contact us

Laura Gray

Laura Gray

Principal, KPMG’s Insurance Accounting Change Co-Lead, KPMG US

+1 404-222-3388
Aaron Bowden

Aaron Bowden

Advisory Managing Director, Financial Services Transformation Delivery, KPMG US

+1 704-264-7951
Alex Zaidlin

Alex Zaidlin

Advisory Managing Director, Actuarial, KPMG US

+1 917-655-6272
Pixi Sofian

Pixi Sofian

Director, Accounting Advisory Services, KPMG US

+1 949-885-5546