The Covid-19 epidemic has provided the insurance business with an opportunity to showcase its value. Still, it has also shown that the industry must become more efficient to suit the changing demands of its consumers.
In a century, the greatest worldwide epidemic has challenged both large and small enterprises with unprecedented obstacles. In a matter of weeks, the Covid-19 epidemic tore away sturdy structures established over decades. It showed weaknesses and vulnerabilities in complex global supply systems.
While the pandemic has provided the corporate insurance market with the chance to support firms through claims payouts and guidance in navigating the effects of the crisis, it has also helped to expose major weaknesses.
However, when there are challenges, there is the possibility of developing innovative solutions.
While the strengthening market has a favorable impact on commercial insurers, price rises cannot solve all problems. Additionally, the sector must increase efficiency and solve important client pain areas.
Through the correct use of digitization, many of these inefficiencies and consumer pain points may be resolved.
How we assist
For pension challenges, Damalion experts offer impartial, objective evaluations, plans, and services to private, public, non-profit customers and their advisers. We assist in guiding choices, optimizing performance, and ensuring compliance to fulfil retirement and employee benefits’ present and long-term objectives, addressing crucial concerns such as de-risking, liability risk management, and fiduciary duty.
What we bring
Damalion selected specialists combine commercial and technical expertise to assist insurers, reinsurers, captives, brokers, investors, regulators, businesses, and legal and business consultants in addressing difficult strategic and tactical concerns. They show a track record of effectively managing many large domestic and international engagements, including high-profile, discreet inquests and disputes, complex restructuring and enterprise-wide transformations, and applying techniques and analytics to innovate, enhance performance, reduce performance risk, and achieve compliance.
We build up qualified and experienced actuaries team to assist international clients, including general, life, and health insurers, insurance firms, captives, risk retention organizations, brokers, banks, regulators, investors, corporations, and their legal counsel. Our experts bring clear up to date approaches to measure and manage risk and exposure, identify and quantify opportunities, develop profitable products, optimize financial and operational functions.
Claims and insurance administration consulting
Damalion experts assist clients and counsel in addressing the challenges posed by large and complex claims by conducting :
- investigations, identifying causes, assessing damage and liability, performing valuations of losses, addressing service disruption, remediation, and recovery,
- developing business transfers, strategies of arrangement, runoff and liquidation, and providing regulatory guidance and expert testimony.
We build up ad teams to assist and review claims assessments, portfolio analysis in support of M&A due diligence, the acquisition or sale of a book of claims, runoff programs, disputes, risk assessment, and liability value.
What we add
Damalion sources the right experts to deliver the following analysis:
- Expenses for Claims and Underwriting Control and Operations Enhancement
- Leakage analysis
- Reserve evaluation
- Business analytics and metrics
- Technical evaluations
- Enhancement of third party vendor processes
- Complex and Extensive Claims Evaluation and Administration Investigations
- Damage and liability evaluation
- Business disruption, recovery, and remediation
- Regulatory counselling, arbitration/litigation help
- Asbestos, environmental, and mass tort litigation
- Runoff, business transfers, and organizational schemes.
Want to know more about Insurance with Damalion?
Damalion offers you from bespoke advice provided by directly operational experts in the fields that challenge your business.
We advise you to give information at its best, so we can qualify your demand and revert to you under the next 8 hours.