A concern shared by the major insurance-consulting firms'clients is the impact recent and ongoing regulatory actions willhave on the industry, including the move toward a moreinternational accounting standard; the work that is continuing as aresult of Dodd-Frank; and other changes that may be introduced bythe National Association of Insurance Commissioners (NAIC) or theFederal Insurance Office in the next few years.
Ernst & Young's clients are asking, “How will we meet whatwill be a lot more significant and timely demand for data and notkill ourselves from a profitability perspective?” says InsuranceAdvisory Practice Leader Dave Hollander.
As a result, Hollander says, clients want to create strategiesdesigned to make their information a lot more accessible andtransparent, regardless of what those future information demandsmay entail.
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