Research says that by 2025, almost 230 Fortune Global 500 companies will be based in the emerging world’s cities, up from 24 in 2000. The rebalancing of the global business landscape will probably be even faster and more dramatic than the shift of economic growth to emerging regions. The business of multinational insurance is positioned for a long horizon of growth. At the same time, tax and regulatory authorities in these emerging markets are realizing the economic opportunity presented by the business of insurance. This is adding additional complexities into the already complex business of multinational insurance.
This paper explores the opportunities for accelerating growth and supporting compliance requirements by approaching multinational insurance business activities holistically across people, processes, technologies and geographies. It also highlights a new approach that makes it possible to automate complex activities from underwriting of multinational programs to implementation or post-bind activities mandated by local tax and regulatory requirements.