Insurance sector risks and priorities for 2024

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We’re delighted to share our views on the risks and issues facing insurance sector firms and their internal audit functions in 2024.

The year 2023 has been challenging for both businesses and households. Looking ahead to 2024, there may not be many new issues making headlines, but the challenges from the previous year will continue.

Internal audit functions play a unique and important role in implementing governance, risk management, and internal controls to manage risks. This publication aims to inform and prioritise those risks for 2024 which we have categorised into five areas:

  1. Financial management
  2. Governance & culture
  3. Operational & IT risk
  4. Regulation
  5. Environmental, Social & Governance.

To understand the risks and priorities that the insurance sector will face in 2024, read our guide.