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Brexit and the insurance industry 1 year on...

[fa icon="calendar'] 05-Jul-2017 14:11:47 / by Dee Tshuma posted in Insurance, Reinsurance, Blog, Brexit, europe

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Here we are now - a year has passed since the Referendum and Article 50 was triggered in March by Mrs May.  It took some time but we got there eventually – a recurrent statement, used by many throughout the process, was the phrase “We have to respect the will of the people.” In this case, democracy means Brexit, and whichever side you sit on this: Patriotic or Pro EU; the show must go on!

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Modernisation

[fa icon="calendar'] 16-Jun-2017 08:36:22 / by Rebecca Oliver posted in Insurance, Reinsurance, Blog, Artificial Intelligence, modernisation, IT, legacy systems, change

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As computers have taken over the workplace, the insurance industry, along with others, now relies upon them for the basic day to day business functions. Initially, organisations began to build new systems upon existing legacy systems as processes and software evolved, but now it seems that these legacy systems may not be up to the job.

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The InsiderTech Conference London 2017

[fa icon="calendar'] 09-Jun-2017 16:34:17 / by Dave Connors posted in Insider, Insurance, Reinsurance, Blog, ILS, Insuretech, insidertech

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I recently had the pleasure of joining colleagues from across the world of insurance, technology and risk capital in attending the Insider Conference on InsurTech.

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ACI Dublin – Voice trading under MiFID II and No Free Pass for Spot FX

[fa icon="calendar'] 19-May-2017 16:49:03 / by David Woolcock posted in Banking, Blog, Regulation, Compliance, MiFID II, Best Execution

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 One of the takeaways I had from numerous conversations at the ACI Congress in Dublin, where Eurobase participated, was the question “how do we continue to offer voice trading, which is what customers want, and be compliant with MiFID II?”

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The growth of Cyber risk & the difficulties of underwriting an intangible risk

[fa icon="calendar'] 16-May-2017 17:23:15 / by Rebecca Oliver posted in Insurance, Blog, risk, Cyber, underwriting

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The recent Cyber-attack involving digital criminals asking for a ransom is proof that Cyber-crime can no longer be referred to as just a "Threat" or as a topical subject that we mention on the agenda of a boardroom meeting. It is here and it’s spreading like the plague...for all those that are less prepared.

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Artificial Intelligence, Blockchain and Deep Learning

[fa icon="calendar'] 25-Apr-2017 16:51:45 / by Kevin Richmond posted in Insurance, Reinsurance, Blog, Blockchain, Artificial Intelligence, Deep Learning

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 It is no secret that the traditional (re)insurance firms have a reputation of reluctance to adopt and adapt to new technologies.  However, here we are, in the 21st century and technology is shaping as well as transforming our whole world and fast, and it does not intend to slow down for anyone.

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Employee Benefits – what’s in store for 2017?

[fa icon="calendar'] 21-Mar-2017 16:15:38 / by Kevin Richmond posted in Insurance, Captives, Reinsurance, Blog, Solvency II

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2016 was a challenging year for captives with much attention being placed on Solvency II, BEP’s and Employee Benefits (EB). Now 2017 is in full swing, it is clear to see that last year’s three hot topics are going to continue as trends in the market for the foreseeable future.

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MiFID II exposes the need for a regulatory reporting solution

[fa icon="calendar'] 03-Mar-2017 16:54:43 / by David Woolcock posted in Banking, Blog, MiFID, Regulation, Compliance, MiFID II

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“MiFID II and MiFIR will change the way banks around the world do business —particularly with respect to the scope of data, communications formats and records that must be maintained.” -Bloomberg

 

Responding efficiently to the dramatic changes that MiFID II will bring in January 2018 is key to ensuring your organisation continues to succeed and remains profitable. As a bank or branch/subsidiary regulated by a European regulatory authority and operating in the EU, your bank is subject to MiFID II in general terms. MiFID II covers nearly all instruments (e.g. including Forward FX) except for most Spot FX. The confusion regarding the definition and whether spot FX is in or out has been clarified to some extent and relies mainly on the T+2 (smaller currencies up to T+5) and “physically settled” definitions.

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Blockchain – Hype? Overrated? Or pure genius?

[fa icon="calendar'] 21-Dec-2016 09:06:14 / by Joe Locke posted in Insurance, Banking, London Market, Blog, Blockchain

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I had the pleasure of listening to a couple of gentlemen on one of my train journeys home this week. They were discussing Blockchain - with one of the individuals portraying himself as a Blockchain expert. However, I soon realised this was another example of someone picking up on the hype around this topic without actually understanding how it works or can be adopted.

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siena and the Cross Border Payments Controversy

[fa icon="calendar'] 16-Nov-2016 10:53:36 / by David Woolcock posted in Banking, Blog, Payments, FX, Technology

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How can technology support the principle of ‘fair and effective markets’?

In my last blog on cross border payments I was mulling the concept of “fair and effective” markets and musing how that would apply to the current landscape of high bank charges in this area. The original blog was inspired by a newspaper article that was expressing outrage that a bank was discriminating against smaller corporates (SME’s) on a systematic basis.

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