In today's uncertain world, the insurance sector stands as a pillar of stability and protection against unexpected events, offering essential financial security and peace of mind to individuals, businesses, and entities. However, companies within the Insurance sector face multiple challenges, including regulatory compliance, evolving customer expectations, technological disruption, and competitive pressures. 
BDO provides comprehensive support to clients in the insurance sector, offering expertise in areas such as regulatory guidance, risk management, internal audit services, and technology advisory. Our services help insurance companies navigate regulatory complexities, optimise operational efficiency, and leverage technology to enhance customer experience and drive innovation. With BDO as a strategic partner, insurance companies can navigate the challenges of the evolving landscape and seize opportunities for growth and differentiation in the market. 

Insurance Clients We Work With

Both life and non-life insurance play critical roles in managing risk and providing financial security to individuals, businesses, and other entities. 

Life insurance provides financial protection to policyholders and their beneficiaries in the event of death or other specified events, such as disability or critical illness. Non-life insurance, on the other hand, provides coverage for a wide range of risks and losses, excluding those related to life events.  

Within the insurance sector, companies face various challenges. BDO supports clients in this sector by offering comprehensive services tailored to their specific needs. From regulatory guidance and risk management to strategic planning and technology advisory, BDO provides expertise and guidance to help insurance companies navigate challenges, optimise operations, and seize opportunities for growth.

Insurance brokerages play a crucial intermediary role within the insurance sector, acting as intermediaries between insurance companies and their clients. These firms help individuals, businesses, and other organisations find the most suitable insurance coverage to meet their specific needs and risk profiles. 

Insurance brokerages offer several key services, like: 

  • Risk Assessment 
  • Insurance Placement 
  • Policy Management 
  • Risk Management Consulting

Insurance brokerages operate under a fiduciary duty to act in the best interests of their clients and provide impartial advice. They are compensated through commissions or fees paid by insurance companies for placing insurance coverage on behalf of clients. 

Challenges in the insurance brokerage subsector are many and may include increasing competition, regulatory compliance, and evolving client needs and expectations. Brokerages must stay abreast of regulatory changes, technological advancements, and market trends to remain competitive and provide value-added services to their clients. 

BDO provides comprehensive support to insurance brokerages, covering a wide range of services, including tax advisory, audit, regulatory compliance, risk management, cybersecurity, and people advisory services. With BDO's expertise, insurance brokerages can navigate regulatory complexities, optimise operational efficiency, and enhance client satisfaction in today's competitive insurance marketplace.


Solutions we offer

Statutory Audit Tax Dispute Resolution Tax Structuring & Advice Transfer Pricing Corporate Tax Compliance Indirect Tax Advice & Compliance M&A Due Diligence Withholding Tax Advice and Compliance R&D Tax Credits Transaction Structuring Insurance Premium Tax Compliance Cyber & Information Technology  IT Risk Advisory and Assurance Forensics Investigations  Internal Audit Outsource & Co-Source Governance, and Risk Management Assurance & Advisory Regulatory Compliance & Authorisations Assurance & Advisory Economic Crime and Fraud Prevention Assurance & Advisory Regulatory Reporting & Engagement Assurance & Advisory Upstream Regulatory Developments Outsourcing Risk Operational Resilience  Safeguarding Risk  SOx Compliance Accounting and Finance Assurance & Advisory Recruitment & Flexible Staffing Employment Tax & Payroll HCM Technology Sustainable Performance Statutory Compliance Overseas Company Maintenance Advisory & Restructuring Services Governance, Company Law & Regulatory Client Support & Administration Services Liquidation Deal Advisory

Contact us to discuss solutions for your business needs

Teresa Morahan

Teresa Morahan

BDO Dublin Partner, Head of Audit BDO Ireland, Head of Global Technology, Media and Telecommunications