Internal control

A Fresh Look at Internal Control in Insurance

Published Oct 31, 2024 Updated Oct 31, 2024 Finance and Markets

8 min

CREATIVE ROOM

Internal control

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A Fresh Look at Internal Control in Insurance

Stéphane Van Nerom

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The second line of internal control: an essential pillar in insurance. In the increasingly complex world of insurance, where risks and challenges intersect, internal control plays a crucial role. Think of yourself as an investigator, an advisor and a partner all rolled into one. This is where the techniques of observation, the detection of contradictions, universal propositions, the ability to stand back from situations and distance yourself from other lines of defence come into play. The second line, often overlooked, is nevertheless an essential pillar. It provides cutting-edge expertise, proactive assistance and rigorous monitoring. Its role? To guarantee that the rules, procedures and controls are complied with, while promoting the company's real capacity to assume them. But that's