Insurance

Insurers and health funds understand how to take calculated risk.

So when it comes to choosing an organisation with significant insurance industry experience, end-to-end risk management capabilities, proven methodologies and practical implementation, InConsult is the clear choice and no risk option.

Since the implementation of the revised APRA Prudential Framework in 2001, we have helped insurers navigate through the myriad of regulatory compliance requirements. More recently, we have helped health funds make a successful transition from PHIAC to APRA.

InConsult has significant experience in the insurance sector covering:

"A strong and stable financial system is a prerequisite to a healthy and vibrant economy.
It should withstand economic cycles and ensure critical financial functions can be relied upon to be available when needed, and at a reasonable cost"
- APRA

We Understand the Key Issues in Insurance

We continuously monitor developments in the insurance sector and the insurance regulatory environment to understand issues our clients face.
Some of these include:

Our Team

We draw our capabilities from our team of experienced people. Our Directors and consultants have worked for some of Australia’s largest insurers and have a deep understanding of the current issues facing insurers.

We have proven track record of enhancing risk governance and strengthening compliance with APRA’s Prudential Standards.

Insurance Industry Experience

We have supported small, medium and large Australian and international insurers in a wide range of risk management, audit and assurance projects that include:

Outsourcing and third party risk management;
Interim and Virtual Chief Risk Officer;
Providing outsourced and co-sourced internal audit services;
Conducting realistic business continuity and disruption exercise;
Delivering training to management, risk owners and Board members in risk management, risk appetite, business continuity and internal control; and
Implementing our web-based and integrated GuardianERM.Net risk management technology.
APRA insurance licensing support

Our Insurance Clients

We have supported small, medium and large Australian and international insurers as well as insurance industry associations including:

Actuaries Institute

Aust Reinsurance Pool Corp
Allied World
AXA XL
Berkley Insurance Australia
Calliden Group
CBHS
CivicRisk Mutual
Coal Services
Coface
Core Specialty
Enstar
First Title
GE Commercial

Glencar Insurance Company
Hannover Life Re
Hannover Re
HCF
Insurance Council of Australia
HDI Global Specialty SE
Lawcover
MunichRe
New India Assurance
Pacific Premium Funding
Liberty Specialty Markets
QBE

RACI
RealCover Insurance
ReCentre
Sompo International
Southern Cross Travel Insurance
Starstone
StateCover Mutual
Stewart Title
Tokio Millennium RE AG
TT Club
Westfund

Did You Know?

CPS 230: Avoiding Implementation Pitfalls

Following an extensive industry consultation process, APRA released the final new cross-industry Prudential Standard CPS 230 Operational Risk Management (CPS 230) in July 2023. The

Strengthening Financial Contingency Planning and Resilience

To help banks, insurers, and superannuation trustees better respond to an impending financial crisis, the Australian Prudential Regulation Authority (APRA) has begun consulting on guidance

CPS 230 Operational Risk Management

The Australian Prudential Regulation Authority (APRA) has kicked off the consultation process on a new prudential standard – CPS 230 – designed to strengthen operational

PHIAC to APRA Transition

At InConsult, we’re committed to helping private health insurers complete a successful transition from PHIAC to APRA

Subscribe to our InTouch Newsletter

InConsult acknowledges Aboriginal and Torres Strait Islander peoples as Australia's First People and Traditional Custodians of the land where we work. We pay our respects to Elders past and present.