The insurance industry has developed organically over centuries, its growth fuelled by meeting societal needs, but accelerated by historically unscrupulous sales practices. Of course, the latter have been curbed in recent years by increasingly strict regulation in areas such as commission and capital management, but the industry reaps the benefits of history.
Around the world, regulators are recognizing the magnitude of risk posed by unmanaged end user computing (EUC) applications, such as spreadsheets. Pamela Hellig discusses the challenges raised by complying with regulations such as VAIT, and how these can be resolved in collaboration with our EUC software partner, Apparity.
It’s been said that the greatest challenge posed by IFRS 17 is its data requirements. But is this really the case?
With IFRS 17 projects well advanced Christo Muller outlines six important considerations when moving on-premise actuarial processes and systems to an SaaS solution.
Many professions seem to revel in the introduction of new technology to their professions. They realise that every time a tool is enhanced, it enables them to be better at their jobs – whether it be in the operating theatre, on a construction site or in a tech sandbox. Why is the financial sector so different?
Actuary training fails to prepare students for practical life office work in a crucial way: there is a glaring neglect of IT training.
A mutual insurer dramatically improved transparency across their whole Solvency II reporting process and achieved cost-saving reductions in resource requirements by implementing MBE’s proprietorial technology.