I was at a discussion today where we were asked whether corporate reporting faced any problems. Most hands went up. Then we were asked whether reporting faced any significant problems. Only two hands went up, including mine. I briefly skirted around the problems with life company reporting.
My point was dismissed. Everyone agrees, said the room, that life company accounting is fundamentally broken, so that objection didn’t count. What else haven’t the Romans done for us, sort of thing.
To be sure, I have heard this many times, including in the corridors of power, even from life insurance accountants. But if everyone thinks that, why has no one done anything? Life insurance is about, well, our pensions and stuff. Could it really be too difficult to fix?
Our contact form is on the menu above, all suggestions welcome. Is there a problem? How do we fix it?