Crowe Zimbabwe is putting customer first
THE key drivers for performance in the insurance industry are revenue growth and profitability.
is can be accomplished through revenue generation, process efficiency, and optimisation of underwriting and financial tools.
e insurance industry is facing momentous shifts, from evolving regulatory requirements and the impacts of technology and big data to changing customer expectations.
Our insurance industry-specific services can help companies of all types meet reporting and regulatory needs, improve risk management and compliance activities, drive strategic differentiation, and adapt quickly to changing realities.
We draw on decades of insurance industry experience in a wide variety of insurance sectors to bring your project the right expertise from day one.
What sets us apart
Proven industry approach:
•Direct senior-level involvement. You can expect personalised attention from experienced insurance industry professionals.
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In-depth industry knowledge. Our professionals serve the insurance industry with different capabilities to meet client needs. We therefore offer specialised insurance expertise to our clients.
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An investment in technology. We continually invest in innovative technology to help make our processes more efficient. e use of automated work papers supports a more efficient audit.
An exceptional client experience
Our professionals are committed to maintaining the firm’s reputation for technical excellence, team effectiveness, and high-quality service.
e Crowe and PRMS client relationship model provides the framework for delivering exceptional service and client satisfaction while upholding the industry’s strong professional ethics and standards. We use client feedback about satisfaction, engagement, and timely issuance of deliverables to maintain exceptional performance standards.
Claims
experience
supports
our
e emergence of a new operating environment has seen the evolution of new products and variations to existing products. is requires new ways of handling claims to deal with the increasing complexity and optimise recoveries. Agility is crucial to embed new capabilities and reshape services.
•Design of robust processes and evaluation of claims. is includes capacity building in organisations and a feedback loop into the underwriting process.
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Service providers seek opportunities to maximise their revenues when serving insurers. Our services include a reduction in leakages in the value chain through assessment of value proposition and creating partnerships which ensures value creation and preservation. ere is also a reputational risk for insurers arising from suppliers.
· ird-party recoveries and salvage optimisation to reduce claims cost. 60-75% of insurers’ costs are related to claims and a saving of 10% can significantly affect profitability.
Underwriting
In efforts to enhance efficiency and competitiveness, the insurers need to optimize retentions on business written, as well as improve quality of risk to reduce loss probability.
•Estimated maximum loss assessment to optimise risk retention and reduce loss probability
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· Reinsurance optimisation and recovery for losses
Audit and assurance
We offer an array of services to help insurance businesses meet their financial reporting needs and regulatory needs. Our insurance services and solutions are grounded in an in-depth understanding of your industry from hands-on practitioners.
Audit services
Choosing the right professional services firm means you can be confident you are receiving objective, credible information to act decisively.
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Statutory financial statement audits
Benefit plan audits
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Technical accounting guidance
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Annual statement consultations
Forecasts and projections
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Agreed-upon procedures
Medicare cost plan agreed-upon procedures Crowe maintains high audit proficiency through staff consistency and continuous training, preparing experienced professionals to provide high-quality service to insurance industry clients.
We incorporate innovative technology to improve process efficiency and effectiveness and reduce disruptions.
ese secure technology tools help expedite the transfer and analysis of large amounts of financial data using shared databases, an automated work paper system, Web-enabled project tracking, and secure data sharing.
To maintain the highest levels of professional audit quality, we have developed an internal quality control system led by assurance professionals who operate independently from the audit practice.