Insurance Consulting Faced with unprecedented disruption and cost pressure, insurance companies are navigating the challenges of meeting customer service expectations at competitive rates while offering innovative products and personalised distribution channels to remain relevant. Insurance companies are also dealing with questions about labor issues and the future of work, sustainability requisites, and broader economic factors like increasing interest rates and inflation. For an industry in which many participants have historically lagged in modernising operating models and systems, the time for change is now. Winners will leverage emerging technology and a diverse, agile, highly skilled workforce to gain customer loyalty and market share while protecting profitability.Protiviti helps insurers to be more effective and efficient in a way that is risk-sensitive, regulatory compliant, well-controlled, and enabled by leading technologies.Our firm is widely recognised for delivering practical solutions to insurance organisations that embody the five characteristics needed to succeed in the face of disruption: human, flexible, intelligent, innovative, modular. We have assembled integrated teams of technology and process advisors with the skill to help executives develop innovative solutions to confidently face emerging challenges and identify opportunities for structural transformation that align with your core values to ensure sustained future growth.Together with Robert Half, the world's first and largest specialised talent solutions firm, Protiviti offers the unrivaled combination of consulting expertise with Robert Half’s deep pool of highly skilled and experienced professionals to solve your business challenges using our unique, flexible delivery models. Survey December 22, 2023 2024 Top Risks in the Financial Services Industry Protiviti and NC State University’s ERM Initiative have been conducting our Top Risks Survey for the past 12 years. This journey began just as financial markets around the world were starting their long, slow recovery from the global financial crisis, and has since covered the worst global pandemic in 100 years as well as near record-low interest rates followed... Learn more What we do Our services Insights Client stories Leadership Our services for Insurance companies Our insurance consulting advisors provide solutions tailored to your organisation’s unique needs in the following areas: Pro Briefcase Data Privacy Data privacy regulations are in flux globally. We partner with you to build the foundations of a strong but flexible privacy programme that includes understanding principles and regulatory obligations, educating stakeholders and developing a governance structure for managing changes. Pro Building office Digital Transformation Evolving needs and customer expectations challenge even the most agile organisations. We help you think differently to redefine customer experience, explore new operating models, create enhanced digital channels, and build skills that instill a culture of innovation and agility. Pro Document Consent Ecosystem Partners We work across our partner ecosystem to develop solutions to offers unbiased technology recommendations, single-sourced solutioning, and agile collaboration to solve your most complex industry-specific challenges. Pro Document Files Finance Transformation Harnessing intelligent data, new technologies and digital tools, we help transform your finance organisations for the future. We partner with you to align people, process, and technology to drive efficiency and productivity, enabling change and creating value for your organisation. Pro Document Stack Managed Solutions We provide a unique and flexible delivery model to help you address short-term skill gaps, deliver project results, and transform your organisation by creating the right team that can scale up or down quickly and cost effectively to fit your needs. Pro Legal Briefcase Risk management Proactive leaders know they must adopt more innovative risk management practises to succeed. We help you leverage emerging technologies, harness data and maintain a strong control environment so you stay on the leading edge of risk management while improving your bottom line. Pro Workflow Flowchart Internal Audit Through our world-class Internal Audit and Sarbanes-Oxley practices, we ensure your IA activity provides the highest value to your organisation, whether you need to employ agile principles and AI to transform your IA function or co-source or fully outsource your Internal Audit and internal control compliance efforts. Pro Tools Gear Cybersecurity Cybersecurity is a top priority for boards and ERM functions seeking proper visibility and understanding of their cyber threat landscape. We help firms protect data by assessing, developing, implementing and managing end-to-end agile solutions to help you safely grow your business. Find out more about our consulting services for:Banking and capital markets Asset & wealth managementMortgage & consumer lendingPayments Featured insights INSIGHTS PAPER Understanding the Impact of the EU AI Act: A Primer for Financial Institutions Navigate the EU AI Act's impact on finance with our strategic guide to compliance and ethical AI use. INSIGHTS PAPER Part 2: Risk transformation and the intersection with business transformation Risk maturity is a measure of an organisation’s risk management capabilities and culture. As organisations raise their risk maturity, it enhances elements across governance and framework, processes, people and organisations, methodologies, systems... BLOGS Business get ready! Australia takes another step forward with climate-related disclosure requirements The Australian proposed sustainability reporting regulation, also known as The Treasury Laws Amendment (Financial Market Infrastructure and Other measures) Bill 2024 is now before the Australian Parliament for adoption. This follows a comment period... PODCAST Risky Women Radio | Women in Risk Management: Challenges and Opportunities Dive into the world of women in risk management. In this Risky Women podcast, Jenny Wong & Gayle Lacey discuss risk management challenges & opportunities. WHITEPAPER Can we trust culture and conduct to guide decision making in the financial services industry? More than 15 years after the great financial crisis, the financial industry’s culture and conduct remain very much in the headlines. Has nothing changed? A lot has indeed changed, though bad actors still manage to prevail at times. Maintaining good... INSIGHTS PAPER Part 1: Value chain mapping for risk transformation in Australia's new regulatory environment New regulations in Australia have created new priorities around governance, executive accountability, and operational resilience. The new rules raise pressure on firms to transform in multiple ways, including through value chain analysis. PODCAST The future of insurance asset protection in the metaverse What will insurance look like in the metaverse future? To help sort it all, the VISION by Protiviti podcast welcomes a panel of Protiviti insurance experts, including managing directors Shawn Seasongood and Tom Luick, as well as director Jackie... Button Button Featured client stories Pacific Life Leverages Trust and Strong Partnerships to Achieve HR Transformation Discover how Pacific Life transformed their HR strategies, highlighting the pivotal role Protiviti played in driving success through trust and strategic partnership. Insurance Distribution Firm Positions Itself for Successful IPO and Global Expansion with Finance and Technology Transformation An award-winning, entrepreneurial insurance distribution and risk management firm serving more than 1.2 million clients was facing multiple challenges as it prepared to launch an initial public offering (IPO). The company was experiencing massive... Specialty insurer standardises policy platforms to deliver operational efficiencies ahead of IPO A global specialty insurance organisation had been growing rapidly through a roll-up strategy to position itself for an initial public offering (IPO). The acquisitions created multiple underwriting and policy management processes and systems that... Transforming risk culture from the bottom up: A global insurance provider’s RCSA journey A leading global property and casualty insurance provider set out to transform its risk controls as part of an ongoing effort to promote a culture of excellence. Siloed knowledge of operational risk and controls made it difficult for the organisation... Insurance giant seeks staff augmentation, gains new opportunities for growth A global insurance company — like so many other businesses — had come to rely on a service provider in India for finance operations support. It had no plan to change that arrangement. Then COVID struck. One week before 2020’s first-quarter closing,... Button Button Leadership Matthew Pirera Matt is a managing director in Protiviti Australia’s risk and compliance team and is responsible for leading the delivery of best practice solutions across Protiviti’s key clients. Matt is the national financial services industry lead, also leading the Protiviti ... Learn More Mark Burgess Mark is a managing director and Protiviti’s risk and compliance solution lead. With over 17 years of risk and regulatory compliance experience in the financial services industry, he has a proven track record delivering deep insights for his clients.Mark has spent a ... Learn More Shane Silva Shane is an accomplished managing director based in Sydney, leading the data governance and technology assurance practices. With a career spanning more than 16 years in the professional services industry, Shane is recognised for his exceptional expertise and proficiency ... Learn More
