Artificial Intelligence (AI) has caused revolutionary changes in the rapidly evolving fields of technology and finance. It brings unprecedented opportunities for innovation and efficiency, but it also introduces new challenges, especially when it comes to financial security. Anti-Money Laundering (AML) is one critical area where the combination of AI …
Be the change you wish to see in the world.– Mahatma Gandhi Insurers have a once-in-a-generation opportunity to take stock and set about creating the industry they want to be part of – one that’s pushing boundaries to build upon its purpose – and become a force for greater good. …
With more than 200 active reinsurance captives, the Luxembourg financial centre is considered the European leader in the market. This is mainly due to its stable legal, regulatory and tax framework—confirmed by the maintenance in 2022 of Luxembourg’s AAA financial rating—as well as the highly qualified international professionals and specialists …
Across the world, businesses are more and more concerned with the exponential growth of cyber risks. Regardless of the business type, the sector you operate in or the firm size, you and your stakeholders are using computers, mobile devices, wearables or other types of digital technologies that are susceptible to …
Will you unconditionally rely on the actuarial work performed by others? As an actuary, you make important decisions daily —you select a better model to make projections, provide management with forecasts on profitability, report to the regulator on the strengths of booked reserves, the capital position and many others. At …
Navigating the COVID-19 pandemic calls for outlining possible scenarios on how the financial statements of (re)insurance companies will be impacted. Depending on the nature of the business and the types of products in investment portfolios, companies may face increased mortality rates, economic contraction, slowing business activity, falling equity markets and …
In this article we discuss potential implications of the COVID-19 pandemic on the best estimate assumptions and capital modeling under solvency II for life insurers. The observations are more applicable to life insurers but can also be relevant for reinsurance. Our conclusions are based on our experience on the insurance …
This is more than an insurance story chock-a-block with buzzwords. They are there of course — data, artificial intelligence, customer experience— you will find them all, but combined in such a way that you’ll be willing to give them another chance, the one they deserve if we stopped overusing them. …
The PRIIPS Kid is undeniably a good idea. But will it deliver as expected? Packaged retail investment and insurance products (PRIIPs) include all publicly marketed financial products that have exposure to underlying assets—stocks, bonds, etc.—that provide a return over time, and have an element of risk. Or, to put it …
There is something surprising about the 2019 edition of the Insurance Banana Skins Report published some weeks ago. One would expect top risks impacting the insurance sector to be aligned in most countries. After all, the economy is less and less a local fief and it has grown used to …
