Main experienced areas where we can provide help
Internal Control and Risk Management (GRC)
The term GRC gathers aspects so wide but unavoidably related, as the management of the good Governance at entities, the Risk management, or the Compliance.

All of that connects with the maintenance of a global Internal Control system, whose international reference standard is COSO initiative (Committee of Sponsoring Organizations of the Treadway Commission), and COSO II and COSO III afterwards.

COSO methodology is based in three main different but related categories: The effectiveness and efficiency of operations; the reliability of financial reporting; and the compliance with applicable laws and regulations.

There are many existing regulations or recommendations about internal control at organizations, which are to a greater or lesser extent based at COSO principles, such as SOX (Sarbanes-Oxley Act), European Directive Solvenci II, IFRS (International Financial Reporting Standards), ISA (International Standards on Auditing) issued by International Auditing and Assurance Standards Board (IAASB).

With all of that, it is possible to understand the high importance for entities with regard to the disposal of a complete, global, traceable and exploitable internal control and risk management system.

Thus, IDEAS has offered its global or partial support, in order to achieve that objective. Like that, GRC services at IDEAS are divided in three acting possibilities:

1. To place at entities' disposal a global, intuitive and powerful computer solution to support Internal Control and Risk Management systems: IDEAS GRC

2. Offering consulting services for the:

  • Full elaboration or revision of risks maps that the entity faces
  • Identification and proposal of controls to mitigate the effects of the identified risks
  • Setting of preventive risk indicators · Self assessment mechanisms establishment
  • Design of Internal Control auditing processes

3. A combination of the two previous bullets.

Like that, the final purpose of our services is the consecution of an internal control environment that continuously allows to identify, to evaluate and to supervise the risks of the entity with a strategic, complete and integral vision. Likewise, IDEAS helps our clients promote a risk management culture into the organization, fulfilling all the requirements of applicable regulations.

Visit IDEAS GRC website

Mergers and Acquisitions (M&A)
We offer financial advice services at corporative transactions regarding mergers and acquisition processes, disinvestment processes, bancassurance distribution agreements, strategy alliances, alike some other agreements for the combined development at insurance sector.

Our main customers are financial entities, insurance companies and some other figures related to the intermediation at insurance sector. Nevertheless, we also have clients that play their activity out of insurance sector.

Each advice operation receives a differentiated treatment according to the necessities of the client, to whom we give the maximum excellence and professional accuracy, as well as independence and maximum confidentiality.

Work methodology

Our methodology is a key factor and is based on giving the maximum possible value to the operation, being near the client all along the transaction process:

  • Professional team with the highest level and performance
  • Recognized prestige and professional experience
  • Direct and personalized behavior, with access to the appropriate level of any organization
  • Differentiated treatment in each operation according to the needs of the customer
  • Maximum excellence and professional accuracy and rigour in each operation
  • Independence
  • Maximum confidentiality
  • Deep knowledge of the sector
  • High analytic skills, allowing maximize the value of the operations

Scope of our advice

We adapt the scope of our advice to the needs of the client; nonetheless we always offer them an integral scope:

  • Opportunities detection
  • Identification of the main goals of the operation and design of the process
  • Identification and contact making with the possible candidates
  • Elaboration of the necessary documentation for the operation (Confidentiality letters, Presentation board, etc.)
  • Financial modeling in the operation
  • Insurance portfolio valuations
  • Coordination of Due Dilligence and Data-Room processes
  • Support at price negotiation
  • Support in the purchase-sell contract negotiation
  • Transaction closing
  • Presentation of all documents at Insurance Supervisory Authorities

Reasons to rely on our presence in a corporative operations

We offer all the possible advantages that an external experienced advisor with deep knowledge and good analysis skills can do, allowing to maximize the value of the operations.

We do believe there are many REASONS to rely on the presence of an advisor in a corporative operation:

  • Considering the they are unique operations that imply a substantial modification of the current situation of the involved entities
  • Because the daily management of the business complicates the focus on medium and long term strategic approaches that compose these complex operations.
  • For the strict independence needed the analysis of strategic alternatives that fit the best to the defined goals
  • To guarantee the lack of interest conflicts, guaranteeing the defense of the interests of our client
  • For the provided experience based on multiple previous corporative operations
  • For the necessary timing control and the strict confidentiality of the process
  • To provide credibility to the existence of different alternatives that allows to negotiate in a competence environment that optimizes the results of the operation
  • For the elimination of possible tensions between purchaser and seller
  • To allow a continuity in the management and a non affection of the normal behavior of the entity
  • Because any direct negotiation may be interpreted as a weakness signal

Employee Benefits
IDEAS consultants have participated in several processes to fix, to improve and to externalize, and…and have created their own method that can adapt to each company, to its features, strategy, etc.

Social Welfare Plans

  • Advice in every phase: design, quantification, documentation, negotiation, communication, implementation and monitoring
  • Viability judgments and Technical Basis
  • Pensioner defense
  • Negotiation with funds and insurance companies
  • Definition and supervision of investment policy
  • Review and adaptation of systems to regulatory modifications
  • Financial and accountant revisions
  • Analysis and development of insurance contacts linked to the Plan

Social Benefits Systems

  • Transformation and renegotiation of existing benefits
  • Analysis of a valid market practice as a reference
  • Design and implementation of benefits systems according to the market practice and with future tendencies at a national and international level
  • Flexible retribution systems
  • Harmonization of benefits
  • Quantification and transformation of compromises derived from Collective Agreements

Actuarial consulting

  • Quantification and transformation of compromises derived from Collective Agreements.
    • Quantification of present and future compromises. Assumptions and hypotheses settlement on quantifications, rotation experience, retirement, interest rates, etc.
    • Search of tools for the preservation and improve of the compromises.
      • Analyses of the financing of compromises possibilities.
      • Analyses of the externalization process.
      • Analyses of transformation possibilities.
    • Elaboration of administrative documentation.
  • Externalization processes.
  • Accounting according to International Accounting Standard.
  • Specific services for financial entitie.
  • Quantification and transformation of compromises derived from Collective Agreements
    • Quantification of present and future compromises. Assumptions and hypotheses settlement on quantifications, rotation experience, retirement, interest rates, etc.
    • Search of tools for the preservation and improve of the compromises
      • Analyses of the financing of compromises possibilities
      • Analyses of the externalization process
      • Analyses of transformation possibilities
    • Elaboration of administrative documentation
  • Accounting according to International Accounting Standards
  • Specific services for financial entities
  • Externalization processes

Programs of personnel reorganizations

  • Analysis of a valid market practice as a reference
  • Design and analysis of the different alternatives
  • Optimization of payment calendar
  • Negotiation and communication · Implementation
  • Elaboration and presentation of the documentation in the Administration
  • Staff assurance
  • Advice and administration of personal insurances
  • Identification of risks that may be covered
  • Analysis of the structure of insurance system and adaptation to entities' needs
  • Analysis of policy conditions and Technical Basis
  • Analysis of price samples
  • Policies regularization
  • Review and adaptation of legislative modification systems
Independent Expert Reports

  • Preparation of judgments and expert reports, economic, accounting, actuarial and financially, to be provided in the judicial or administrative procedures
  • Quantification of damages
  • Counter- reports or opposite evidences
  • Arbitral reports
  • Price adjust reports
  • Forensic Technology reports

Forensic Technology

  • Recuperation and forensic systems analysis (always that it is possible to recover the information of a deleted or damaged system, we will carry out its analysis)
  • Obtaining and analysis of digital evidences and subsequent Report over the detected evidences
  • Expert technical-computer reports
  • Review, if they exist, of the acting procedures to obtain the digital evidences in case of fraud
  • Definition, in case it is needed as the entity does not exist, of the acting protocols to be followed in the obtaining of digital evidences in case of fraud
  • Other data analyses and sources comparison (data crossing etc.)

Advice at disputes

  • Service of independent expert at disputes prior to or during the trial, at penal, civil or trade jurisdiction
  • Arbitral procedures advice
  • Advice services at complex negotiations (by judicial or extrajudicial causes)
  • Corporate business and participation valuations
  • Advice at disputes generated on corporative transactions (Mergers, Acquisitions, Dissolutions etc.), alike the interpretation of contract clauses, compensatory clauses etc.

Procedures for the Fraud Prevention, Detection and Investigation

  • Revision of the control procedures set to prevent, detect and investigate the fraud
  • Definition, in case of inexistence at the entity, of the control procedures to be established to prevent, detect and investigate the fraud
  • Complaints channel. This function implies the externalization of a channel for complaints, guaranteeing complete confidentiality and security, and assuming a professional and personalized management through the application IDEAS GRC
  • Implementation at entities of efficient systems to prevent and mitigate legal, economic or financial risks, through the pertinent controls

Definition of competence at Insurance Sector

As specialized services at insurance sector, we also offer some other personalized services about:

  • Advice service about market definitions at Insurance Sector
  • Information about the competence at Insurance Sector, globally or by insurance type, to entities that already operate in the sector or that plan to do so.
  • Evaluation of the regulatory consequence regarding Solvency II
  • Independent expert service and support at litigations derived from competence matters
  • Personalized assistance to Law Firms prior to insurance litigations

Specialized services for Insurance Sector
Regulatory advice

  • Accountant and regulatory compliance advice
  • Processes coordination in the authorization of new insurance modalities by Insurance Supervisory Authorities, formation of new insurance companies, mergers, demergers, acquisitions, portfolio purchases, insurance intermediary inscription requests etc.
  • Review of Solvency II policies and processes
  • General review of Solvency II implementations
  • Report and judgment issues at administrative processes

Actuarial advice

  • Design of new insurance products
  • Elaboration, revision and adaptation of tariffs, and technical basis elaboration
  • Technical provision calculation
  • Analysis and redesign of underlying and risks selection processes
  • Analysis and redesign of claim settlement processes
  • Elaboration, revision and adaptation of contractual documentation (legal conditions, general and particular conditions, insurance request, informative note, etc.)

Solvency II

  • Design and performance of actuarial function
  • Selection of the applicable methodologies to valuate technical provisions based on the available data
  • Expert judgment to get over the limitations of technical provisions limitation
  • Technical provisions and risk margin calculation
  • Application of regulatory calculation simplifications
  • Solvency capital requirement calculation
  • Verification of the suitability of written policies, needed for Solvency calculations

Performance of ORSA exercises (Ideas ORSA)

Actuarial audit

  • Verification of the trustworthiness, accuracy and suitability of the data used at technical provisions calculations
  • Recalculation of accountant technical provisions and issuance of reports about their correctness and reasonableness

Market continuous study for Vehicle Insurance (ACTA)

Under the name ACTA (by the initials in Spanish of Continuous Analysis of Vehicle Insurance Tariff), IDEAS offers a continuous service to insurance companies, regarding the real composition of the tariff of each of the products that each one of the main vehicle insurance companies offers, in terms of position compared to the rest, components, consideration of each one of risk factors and evolution of their tariff and position compared to the previous analysis period.

For that purpose, IDEAS monthly receives around hundred thousand real policy samples obtained mainly by agents, but obtained as well directly from the insurers. These samples are strategically distributed to be able to rebuild the global and by product tariff of each insurance company, and to carry out an analysis of the position and monthly evolution of each of the analyzed insurance entities, and of the consideration of each one of the risk factors in every case etc. These samples are meticulously contrasted and analyzed by our consultants

The insurance companies for which are obtained monthly samples which are later analyzed are:
  • Allianz
  • AXA
  • Caser
  • Catalana Occidente
  • Generali
  • Liberty
  • Helvetia
  • Mapfre
  • MGS
  • Pelayo
  • Plus Ultra
  • Reale
  • Zurich

ACTA service guarantees a complete understanding of the market positions of the main companies at vehicle insurance.
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