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. …
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 …
The last cybersecurity-related blog entry of this special and ineffable 2020 is about the Know-Your-Third-Party approach, which allows for the standardisation of third-party oversight processes, including managing cybersecurity risks proactively. The more technology spreads across the world of work, the more financial institutions rely on software applications and specialised IT …
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 …
“Alexa it”, just as you “google” it. We recently read that Amazon wants us to “Alexa” things, in a bid for world domination of the voice-assistant industry and to steal for Google a little piece (more) of the search market. But Amazon isn’t new to these tactical maneuvers to achieve …
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 …
The result of the UK’s referendum has already led to considerable market turbulence with experts predicting more to come. The Brexit vote has presaged a period of sustained uncertainty as we are debating the political, legal and indeed business implications – with little hope for concrete answers in the near-term. …
