Digitalisation of the Insurance Tax Landscape
The perfect storm for industry-wide transformation
The Digitalisation of the Insurance Tax Landscape
The perfect storm for industry-wide transformation
Insurance tax complexity is rising across the globe. No two jurisdictions are the same. Currencies, rates, deadlines, and location of risk rules vary across borders, making compliance a challenging process that requires specialist knowledge.
Today, insurers face increasing pressure to adopt digital approaches. In recent years, the proliferation of insurtech and disruptive new players have been forcing change in the insurance sector. These aspects, combined with authorities’ desire to digitalise tax and the unanticipated COVID-19 catalyst, has created the perfect storm for industry-wide transformation.
This whitepaper serves as an expert guide to the evolving global IPT landscape, offering critical insights into the digitalisation of tax and what it means for insurers. It provides guidance for those grappling with the fundamentals of IPT and other so-called “parafiscal tax” compliance and those who want to learn more about the digital trends driving its future.
Covered in this guide:
The race to digitalisation in the insurance industry
Data digitisation and the impact on IPT
Current state of IPT across the world
The outlook for captive insurers
IPT compliance under the microscope
The boom in insurtechs