The importance of risk management has always been clear in financial services, but it is growing in other industries, including energy and telecommunication companies. This importance is being amplified through increasing demand for risk and finance integration. New risk data architecture is needed to focus on the integration of time
Lee Thorpe, Head of Risk Business Solutions at SAS UK & Ireland, explores the challenges that the new international financial reporting standard (IFRS) 17 will introduce. A fundamental change is coming to insurance. The new accounting standard, IFRS 17, will be introduced by the International Accounting Standards Board (IASB) in
Remember when performance reporting took place monthly, or even annually? When executives solemnly received a static report in a board meeting, which told them what had happened a month or so ago, often longer, and they had to make decisions about what to do next? This period actually isn’t all
Real-time customer experience is a vital driver of growth. Acting in real-time, armed with the most up-to-date information about your customer, can hugely improve customer experience. Many of SAS’s customers have generated significant competitive advantage from trying to align closer with the real-life experiences of their customers. But how many
Anyone who believes that digitization has made the issue of insurance fraud go away is unfortunately wrong. One in ten reported damages and claims are still invented or manipulated. The cost: at least €5 billion per year in Germany alone for property and casualty insurance. In other words, not even including
Are you looking for an insurance policy online? Want access 24/7? Ever wondered why many insurance giants are not yet fully digital? Digitization is not yet common among traditional insurance companies, although it has already happened in other industries and in insurance technology (InsurTech) companies. This is perhaps surprising, because
As the internet grew in popularity, the marketing industry was quick to see that it had become an important channel for reaching out to potential customers. Websites increasingly began to host ads that were often unconnected with the site content. Advertising content became more widespread and unfortunately, also often obtrusive.
Whether you work with IT, compliance or at C-level, you would have heard of the new EU General Data Protection Regulation by now. With the compliance deadline of May 2018 fast approaching, hopefully, you have already started taking necessary steps to prevent your company from incurring massive fines. How do
Keep an eye on my behaviour. It will pay off. As a consumer, I am aware of my own value to companies and shops that want me to buy their products and services. Actually, I have probably always been aware of it, but now it seems much easier to get
At a time when ‘fake news’ has acquired its own presence on Wikipedia, it is worth reflecting a little on something more fundamental - the difference between facts and opinions. One of the most critical points to keep in mind when reviewing a plan, or a performance report, is to
