4 considerations before you outsource investment accounting and reporting 

Multi-jurisdictional investment accounting is challenging for insurers. This is especially true for those managing multiple asset classes across regions. To deal with these challenges, it's important to team up with a partner who understands regional accounting requirements, has qualified expertise and the right technology to ensure complete compliance.

Ensuring your asset returns meet your liabilities has never been tougher. As you add more complicated asset classes it’s more important than ever to have a holistic platform covering both public and private assets. You want to ensure you can run native valuations for complex instruments, for example to comply with regulatory requirements and accounting standards like Solvency II, US GAAP and US STAT. This ensures comprehensive support, including scenario analysis, providing insurers with the necessary tools to manage diverse portfolios effectively.

Offloading standardized tasks doesn’t mean you have to give up control of your data. With managed services for investment accounting and reporting you want to ensure you retain complete visibility across your entire investment platform to power your risk management operations, solvency needs and investment decisions. All the while gaining efficiencies, such as reducing operating costs, closing books faster with timely, validated and compliant accounting data within a T+1 to T+3 timescale. Ultimately allowing you to focus your resources on analysis and decisions, not reconciliations.

Look for a partner with a proven track record of working within the insurance industry, especially in your region. They should have an in-house team of experts familiar with your local accounting rules and demonstrate how they stay ahead of regulatory changes. Ask how much the vendor invests in research and development as this signifies a commitment to innovation and delivering excellence. Last but not least, find a partner who brings more to the table, like an integrated ecosystem of innovative collaborators to extend your capabilities.