Life insurance providers are facing pressure from management and regulators to improve financial reporting, according to new research from Willis Towers Watson (WTW).
WTW's 2021 Life Financial Modelling Survey 2021, which covered 61 life insurers from 17 countries throughout Europe and the Middle East, found that the demand for faster reporting is causing concern for many life insurers, with this pressure being felt the most among multinationals. Provider participants stated that they were "satisfied" with current financial modelling processes but "the demand for ever increasing and faster reporting is causing concern." In order to meet the rising challenges from regulators, life insurers highlighted three barriers that must be addressed before foc...
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