Join us for this market briefing which will delve into crucial topics related to finance, risk, and compliance functions, including the disruption they are facing and the transformation opportunities available to them.
Each of these functions faces disruption, pressure coming from the businesses they serve, the regulators that govern them, the colleagues that work for them, and the technology that supports them. In short, staying relevant and competitive requires them to eliminate waste, automate processes, increase levels of insight, be agile to regulatory change, respond to emerging risks, and maintain trust all while addressing sustained pressures on costs and creating roles that empower and excite their colleagues.
This briefing will cover the emerging regulatory landscape, transformation trends, and insights into what the future holds for finance functions. We will also launch a short survey aimed at high level benchmarking the current state of these functions within MGAA members, providing valuable insights to guide future strategies.
Learning Objectives
At the end of this session, delegates will be able to:
Emerging Regulatory Landscape
- Summarise trends and developments shaping regulation
- Summarise key regulatory focus areas in general insurance
- Summarise key PRA, FCA and Lloyd’s supervisory priorities
Finance of the Future
- Summarise where Finance is today across industries and within Insurance
- List the factors pressurising Finance to modernise
- Summarise the technology available and how is it different to what has gone before
- Describe the modern Insurance Finance technology architecture
- Summarise the extent to which Finance processes will be automated
- Summarise what this might mean for the Finance roles of the future
- Describe the new and emerging ways in which organisations might access technology innovations
MGA Finance Survey
- Describe what Finance Managed Services are and the high level offering from PwC
- Summarise the purpose of, where to access, how to complete, anticipated outputs of, and timelines for the MGA Finance Survey
About the presenters
Mark Priest, Director Insurance Finance Transformation
A chartered accountant with 18 years experience, Mark works within PwC’s Insurance Finance Transformation practice. For 18 years, Mark has been helping organisations solve complex business challenges, shaping and delivering their transformation initiatives. He has deep Finance Target Operating Model and process redesign experience, including process redesign and technology implementation. He is passionate about the impact market, people and technology trends are having on Finance Functions and the roles within them. He believes Finance in the Future will look and feel different and that the way in which organisations access technology solutions will be fundamentally different from today.
Sania Hussain, Manager, Financial Services Regulatory Insights, Risk
With over a decade of experience in financial services regulation, Sania works for PwC’s Risk line of service, specialising in tracking the insurance regulatory agenda and writing insightful thought leadership on new rules and their impact on insurance firms. Sania’s passion for sharing her deep insights with insurance clients is evident in her proactive engagement with boards and the C-suite, providing training on regulatory priorities. She firmly believes that fostering robust relationships and active engagement with key stakeholders, such as regulators and trade associations, is essential for maintaining a forward-looking approach to regulation. Before joining PwC, Sania spent over ten years at the FCA, where she supervised large insurers and brokers, gaining a deep understanding of the challenges firms face in adapting to new regulations
Alex Juniper, Director, Insurance Risk & Regulation
Alex has over a decade of experience working as a risk and regulatory consultant within the insurance market. Alex has experience working across both general insurance and life insurance, supporting our clients on a range of projects such as, Board effectiveness, governance reviews / enhancement, authorisation of new / redomiciled insurance businesses, risk & regulatory due diligence. He leads our insurance risk & compliance managed service offering, as well as our support of the Global Insurance Chief Compliance Officers Forum, made up of 24 of the largest insurers in the global market.
Tim Smith, Director, Insurance
Tim is a director in PwC’s consulting practice. He works with carriers, brokers, MGAs and intermediaries on a range of programmes. One of Tim’s areas of focus is on helping MGAs change their operating models and helping implement new ways of working to deliver a range of management priorities. On PwC’s most recent Insurtech Scale programme he was one of the mentors, working with several technology vendors focused on distribution, underwriting and claims capability for intermediaries in the general and London Market. Tim is a charted accountant and management consultant.
