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Articles:

High Growth Advisory

18 November 2020

Daniel Troost , Partner, Financial Services Insurance |

How to create a stable organization and an agile business at the same time

WHO YOU ARE

As our client, you are part of the EUROPEAN INSURTECH COSMOS. You may be an insurance company, a scientist, an entrepreneur, an investor or a business angel.
Either way, you are working 24/7 to grow an idea into an asset and build a company that moves smoothly along a high growth trajectory. In the process you will – of course - outpace the competition, outsmart the incumbents and create an organization with joyful people serving happy clients.
BUT: This does not always work. AND WORSE: In INSURTECH, the rate of failure is considerably higher than in other industries, such as Biotech or pure IT.
WHY: As research shows, regulation generally slows company growth and is an obstacle to innovation. Failure to comply with regulatory standards and oversight poses an existential threat to both, entrants and challengers.

BDO VIEWPOINT – RISK TO INNOVATION ALONG GROWTH TRAJECTORY OF COMPANY DEVELOPMENT AND OPTIMUM BALANCE BETWEEN FREEDOM AND STRUCTURE 

In our experience, the key to INSURTECH SUCCESS is to strike the right balance between your freedom to innovate - as an AGILE business - and the indispensable structure and compliance - of a STABLE organization. 

WHO WE ARE

THE FASTEST GROWING GLOBAL PROFESSIONAL SERVICES NETWORK

We have a global footprint, but we love working and collaborating with local, ambitious and fast-growing companies. Our mid-market positioning enables us to work with clients from the very early stages right through to a mature trading phase.

A HOLISTIC SERVICE OFFERING WITH PROVEN TRACK RECORD

We provide a collective expertise in accounting, tax and regulatory advice. In banking, insurance and asset management verticals, as well as in general IT, we possess long-standing proven track-record with outsourced accounting, tax and assurance services.
Our due diligence offering leverages this ingrained experience and enables us to provide handson practical advice. Our dedicated M&A team has a strong transaction track record with both, entrepreneurs and investors. So, we know where you are coming from where you are going to.

WHAT WE DO

We provide three tailored offerings to meet the specific needs of the INSURTECH sector. All services are performed by interdisciplinary teams, which draw on the combined expertise of our industry specialists.

ORGANIZATIONAL AND REGULATORY ADVICE

  • Advice on Regulatory requirements (organizational, reporting, passporting etc.) according to German (VAG, VVG) as well as European standards (Solvency II) and market practice
  • Advice on Organizational design and Partnering strategies

SERVICES AND ASSURANCE

  • Outsourced Controlling and Accounting services (management reporting and statutory accounts)
  • Outsourcing of Compliance functions (e.g. internal audit) and add-on assurance services
  • Outsourced Tax services (corporate and personal taxes) and tax compliance management (TCM)
  • IT audits and assurance (e.g. ISAE 3402, SSAE 18; web-, cloud and risk management certifications)

TRANSACTIONS

  • Buy-side and sell-side Due Diligence (Financial, Tax, Regulatory Compliance and IT)
  • Transaction Services (Information management, Data-room and PMO)
  • Post-Merger Integration (Accounting, Compliance, Regulatory and Operations)