WTW’s Post

Key take-aways: - benefits for establishment or relocation of business/ hub in #hongkong - excellent financial infrastructure - support to #fintech in collaboration with local Universities - focus on #esg - #web3 is a game changer, but still under development

The FCA's recent thematic review of 67 insurance sector manufacturers and distributors highlights the need for immediate action. Bovill Newgate's Mike Harrison explores the top matters raised by the FCA and shares practical tips for boards, senior managers, and compliance teams to align with the regulator's expectations. Read his insights here: https://lnkd.in/eaeEFWgP #Insurance #FCA #ThematicReview #FinancialCompliance

The FCA's recent thematic review of 67 insurance sector manufacturers and distributors highlights the need for immediate action. Mike Harrison explores the top matters raised by the FCA and shares practical tips for boards, senior managers, and compliance teams to align with the regulator's expectations. Read his insights here: https://lnkd.in/ebbiJetc #Insurance #FCA #ThematicReview #FinancialCompliance

As we settle into 2024, I had the opportunity to catch up with Ajay Mistry ACMA. He highlighted that 2023 witnessed 'significant developments in attitudes toward diversity and inclusion (DEI)' among industry leaders and employees in the insurance sector. However, warned that 'there is still significant work to be done' in the coming year. #UKGI #InsuranceNews #Insurance #DEI #News #InsuranceTrends #Journalism iCAN: The Insurance Cultural Awareness Network #LondonMarket Lloyd's Insurance Times

Insurance Industry leaders from around the world are gathered in London today for the FT Global Insurance Summit to discuss the key challenges facing society and how the insurance industry can help to mitigate these evolving risks.   In a keynote discussion with the FT’s US Financial Editor, Brad Irick, Co-Head of International Business of Tokio Marine Holdings, outlined how the insurance industry can act as a shock absorber for society, the international growth of Tokio Marine over the last two decades and the opportunities and challenges facing the industry in the years ahead.    Brad Irick said: “As the threat of natural catastrophes intensifies, the need for insurers to act as shock absorbers is clear. Collaboration across the insurance industry will be key to mitigating the ever-evolving risks impacting businesses across the globe. As an industry we need to be more forward thinking and work with businesses around the world to help them build back better. The importance of risk mitigation cannot be understated, when you prevent losses everybody wins.”   #TokioMarine #TokioMarineInsurance #FTInsurance

📈 **Expanding Market Relevance in Commercial P&C Insurance** 📊 As the COO of VSNI, I always strive to stay ahead of industry trends and insights. I recently came across a compelling report by McKinsey on the expanding market relevance in commercial P&C insurance. The insights are not only enlightening but also underscore the importance of innovation and adaptability in our ever-evolving industry. Some key takeaways: - The shifting landscape of risk and the growing need for tailored solutions. - The increasing importance of data-driven insights to enhance customer experiences. - Opportunities for insurers to expand their relevance and value proposition in this dynamic market. I believe that as we navigate the complexities of the insurance world, reports like these provide some very good guidance. It's essential for the industry, to continuously learn, adapt, and innovate to better serve our clients and partners. For a deeper dive into the report and its findings, check it out here: https://lnkd.in/eeuU9xWV Let's embrace the opportunities ahead and continue to drive excellence in all we do! #InsuranceTrends #Innovation #VSNI

Next Monday, 15th April. WCI iNED Forums will host another of their excellent forum events - the annual "Regulatory Update". 🎯Objective The aim of this particular event is to provide attendees with a clear understanding of the current priorities of both the PRA and FCA, and their expectations of iNEDs and management in the #insurance sector, as well as providing delegates with the opportunity to put questions to the speakers. The #regulatorylandscape for insurers is complex, changing and closely interlinked with societal changes and global trends, so a wide range of topics including #OperationalResilience, #ConsumerDuty, #ClimateChange, #Diversity & #Inclusion, #Inflation and #CyberRisk will be discussed. 🎤 Speakers Attendees will hear from Nylesh Shah who is Head of Supervision, London Market at the Prudential Regulatory Authority, and from Matthew Brewis who is Director, Insurance at the Financial Conduct Authority. 🙋🏽 Who should attend? The forum is open to insurance #NonExecutiveDirectors (iNEDS), aspiring iNEDS, #CompanySecretaries, #Compliance staff and all those involved with #CorporateGovernance, #Underwriting, #InsuranceBroking and #RiskManagement in the insurance sector. 🎟️ How to book: Please follow this link for more information and booking details ➡️ https://lnkd.in/e7RupTpN

Global Transaction Solutions Claims Study by Aon and Mergermarket emphasises the importance of #insurers’ #claimshandling in the #insurance market. 

Insurers, like businesses in other industries, are challenged with skyrocketing volumes of documents and data, a growing number of ways that information enters the organization, increasing demands for faster access to information, and heightened data protection and regulatory compliance pressures. Read our case study and found how Alaska National Insurance Company gained a competitive advantage with ibml’s advanced data capture solution. #insurance #AlaskaNational #casestudy https://okt.to/rFlZ4X

Insurers, like businesses in other industries, are challenged with skyrocketing volumes of documents and data, a growing number of ways that information enters the organization, increasing demands for faster access to information, and heightened data protection and regulatory compliance pressures. Read our case study and found how Alaska National Insurance Company gained a competitive advantage with ibml’s advanced data capture solution. #insurance #AlaskaNational #casestudy