Sibos 2019: Wassel Dammak,VERMEG

Sibos 2019: Wassel Dammak, VERMEG from Advertainment Media on Vimeo.

How Not To Transform A Legacy Insurer

Brahim Halmaoui, Senior VP for Insurance, VERMEG, shares his views on how NOT to proceed with the transformation of an insurance organisation.“Irrespective of which field of insurance they are in, which region, or what size of business they are, transformation needs to take them from a centuries-old model of selling insurance through very silo-based operations – where we have people who specialise in risk management, policy administration, claims management etc.…

Repo & SBL to the Rescue.

Once upon a time, in a regulatory landscape far, far away…This may sound like an opening to a fairy tale, however the reality is that the regulatory landscape is now beyond recognition for even the most grizzled and battle hardened of collateral managers. Dodd-Frank, Basel III, EMIR and other global equivalents have provided a regulatory explosion which has the collateral pool shuddering at the concept of an unprecedented demand for…

What Artificial Intelligence brings to distribution for insurance products

Artificial Intelligence (AI) brings us a myriad of new opportunities! Processes can be up to 15 times more efficient with AI technology than without it. Each insurer must logically identify his or her application fields. Artificial Intelligence is not one unique technology, but rather a group of technologies. They include big data, RPA (Robotic Process Automation), machine learning, chatbots, etc. Though their ability to process and automate worries many people in…

Greater proactivity in collateral management

The final phases of the EMIR (European Market and Infrastructure Regulations) compliance schedule are rapidly approaching. According to an ISDA study, more than 10,000 counterparties will be impacted in 2019 and 20201. Preparation is insufficient for the majority of players concerned and, often, little or nothing is known about the impact of the regulations. And, when the regulations are known, the attitude is minimalist or wait-and-see. Proactivity: supporting complianceThese waves of…

Artificial Intelligence & Robotics – Impacts on the Industry

The recent explosion of data volume and computing power has led to a dramatic re-evaluation of Artificial Intelligence (AI) in several industries including the financial sector. AI’s challenges and limitations are creating a “moving target” problem for leaders: it is hard to maintain a leading edge in something that’s always advancing so fast. This short article explores the commercial implications of AI, its possible applications for securities servicers and some potential…

The problem of DevOps among publishers

Software publishing is a very recent universe, since IT has only been in existence for 50 years at the most.Over the past five decades, the progress made can be regarded as considerable. First of all, the power of computers has evolved at lightning speed, although it is currently slowing down to make way for miniaturisation. Software, which was used almost exclusively by the corporate world 30 years ago, is now…

Better Understanding the challenges of the “European Collateral Management System”

With the implementation of the Vision 2020 programme, the Eurosystem has set itself on the ambitious path to modernisation of the market infrastructures, with the goal of obtaining better integration and harmonisation of securities and cash within the Euro zone and thus enhance its appeal to investors. In the context of this programme, the Governing Council of the European Central Bank (ECB) has approved 3 major modernisation initiatives: TIPS (Target…

Digitisation of services: how the insurance market is changing

Challenged by constantly evolving regulations and consumer requirements that call for a better harmonisation of information systems and more flexible services, the insurance market has to acquire integrated solutions to deal with the developments in its sector. The transformation implemented within companies in the sector (access to services that allow the end user to be more in control of their needs, ever more competitive offers, need for transparency, etc.) is…

Distribution of insurance and banking products: reinvention is survival!

Driven by regulatory developments and digitalization, the distribution of financial products must evolve.The competition from insurtechs and fintechs underlines the urgency of differentiation.The entry into force of the Insurance Distribution Directive (IDD) on 1 October next urges the networks of intermediaries to review their quality standard: traceability of the duty to provide advice, setting up control procedures relating to the design and distribution of products, etc.In the area of banking…