Insurance 2017 – It’s Life, Jim, but Not as We Know It

This line from Star Trek (sort of) leads to a key question: can life insurance become as hot and sexy as sci-fi, or at least an iPhone?

Onno Bloemers, Delta Capita Insurance Lead, writes that the title is a reference to the original Star Trek TV series, about boldly going where no man had gone before.

His article (based on a keynote presentation he delivered at the Euro-Events Life Insurance & Pensions Conference in Amsterdam in Nov 2017) is doing something similar, but specifically in insurance, and discusses new, unfamiliar ways to manage customer risks.

Click here to read the full article.

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Women in Technology: DC Consultant Interview

Women In Tech, a website dedicated to women already in or looking to join the tech sector, have interviewed Khrystyna Andronova, a Front Office Technology Consultant at Delta Capita, on her personal experience and thoughts on women in technology.

The questions include whether there are barriers to women getting into technology, and how we can encourage more women to start a career in the tech sector.

Click here to read the full article.

MiFID II’s potential banana skin

Mark Aldous, head of managed services for Delta Capita, discusses product governance and the need for more cooperation between manufacturers and distributors before the 3rd January 2018.

Buried within the vast array of complex MiFID II legislation is a simple but potentially troublesome requirement to formalise the way in which financial products are developed, designed and their target market is identified based on customer needs. Simple, because most firms already have product development controls in place and will consider suitability and appropriateness as one of their core conduct policies. Potentially troublesome because compared to the heavy lifting in other areas of MiFID II, some have taken the view that this part of the legislation would be relatively easy to implement. And with less than three months to go, the complexities of operating under the prescriptive requirements in the delegated acts have started to come to the surface.

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Why the Insurance Industry Has More on its Plate Than Just Brexit!

From change management to cyber risk, insurers need to look beyond Brexit to the wider challenges facing the industry, as the traditional insurance business model as we know it is under threat. But ultimately, Brexit might prove to be just the push needed to get the sector innovating.

Onno Bloemers, Delta Capita Insurance Lead, writes that “Brexit means breakfast” may now be a phrase forever synonymous with political gaffes, but for the insurance sector, it represents far more than a ketchup splash of poetic irony. While the uncertainty surrounding the type of Brexit deal agreed undeniably represents the bacon and sausage, UK insurers will be at a disadvantage from their international counterparts should they push the mushroom and beans to one side.

Click here to read the full article.

Insurance 2017 – Managing Risks

The classical insurance business model is under fire. Existing insurers struggle.

In this article, Onno Bloemers, Delta Capita Insurance Lead, explains that often quoted reasons for this include regulatory pressures and legacy landscapes. But there is a more fundamental problem. Insurers lack the skills to effectively design & implement a new, future proof value chain. They simply never had to.

Click here to read the full article.

Are asset managers still walking the variation margining tightrope?

Anyone wondering how the buy-side is getting on with variation margining? Remember all the speculation about how any firm missing the March 1st EMIR deadline could have certain derivatives trades shut down?

Jonathan Adams, senior practitioner at Delta Capita, asks whether asset managers are still walking a tightrope when it comes to variation margining.

Click here to read the full article.

PD3 – Are You Thinking About It?

While many will still recall the pain of “PD2” implementation in 2012, the European Union (EU) has announced a new Prospectus Regulation that will repeal and replace the existing Directive, becoming fully effective in 2019. Despite taking the form of a Regulation rather than a Directive, this new Regulation is commonly being referred to as “PD3.”

The provisional text, already approved by the European Parliament and adopted by the Council, is expected to be published in the Official Journal in the coming weeks. With a consultation paper on the new Regulation also imminent, the industry has an awful lot to mull over.

Sarah Natt from Delta Capita discusses what the PD3 changes mean, and why there has never been a more pressing time to act in the Consultation process.

Click here to read the full article.

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Does the CBOE merger go against the spirit of MiFID?

From expanding into more asset classes, to offering new ETFs, currencies and cash stocks trading, there is no question the US$3.2bn acquisition of BATs provides CBOE with a truly global multi asset one-stop shop.

CBOE will benefit from new revenue streams from the fastest growing markets. Recent estimates also suggest that by using BATS technology, CBOE will make annual cost savings in the region of US$65m. Everything is certainly rosy in the CBOE garden.

But given the fact that many initial post-crisis regulations aimed to increase exchange competition as opposed to reducing it, what knock-on effect will a deal of this magnitude have on European market structure?

Sylvia Smit, Head of Equity Markets Delivery at Delta Capita, explains that to answer this question, it is worth looking back before fully assessing what could lie ahead.

Click here to read the full article.

Insurance 2017: What Maslow Means for Keeping Customers

Many firms apply Maslow’s hierarchy of needs to seduce customers – but stop once a sale is made. Why not continue?

Explaining customer needs through the theory of Maslow is common practice. Marketers often apply the principles to attract new customers. However, if you fail to continue to do this once you have attracted a customer, your ability to retain them will be compromised.

In this article, Onno Bloemers, Delta Capita Insurance Lead, suggests an approach that takes into account the position of the client within the needs pyramid. After all, if you understand the initial need that has led to a buying decision, you can continue to apply this to retain your customers.

Click here to read the full article.

Priips has resulted in co-operation between ultra-competitive banks

They say good things come to those who wait, and market participants have certainly had to be patient as first the Markets in Financial Instruments Directive (Mifid II) and then, at the eleventh hour, the Packaged Retail and Insurance-based Investment Products (Priips) regulation was put back for another year. Joe Channer, CEO of Delta Capita, describes how the waiting could soon be over, with a revised Priips RTS now imminent, coupled with a Mifid II deadline of January 2018 locked down.

The existing delays have already come at a cost to the industry; take the uncertainty surrounding the timing of Priips as a classic case in point. The structured products industry had accepted the Priips regulation as a positive step, invested significant effort to be ready for delivery and had their minds set on January 1, 2017 as the deadline.

Click here to read the full article.