IFRS 17 will mean major changes for insurers. My previous blog post discussed questions that would need to be considered about accounting and financial impact, as well as how to manage stakeholders. This post considers implementation, and particularly questions about IT. IFRS 17 is not due to come into force
Welche einschneidenden Veränderungen IFRS 17 für Versicherer unter anderem für das Rechnungswesen und die Finanzabteilung mit sich bringt, habe ich in meinem vorangegangenen Blogbeitrag erläutert. Ein weiterer wichtiger Aspekt ist die Implementierung von Technologie, die bei der Umsetzung der Richtlinie hilft, und damit verbundene spezifische IT-Fragen. Die Richtlinie tritt doch erst
Im Kölner Stadtteil Mülheim und unweit der Keupstraße mit ihrem orientalischen Charme aus Dönerrestaurants, Baklava, Cafés und Moscheen, neben alten Backsteinhallen mit Konzertsälen und Fernsehstudios liegt mit dem Carlswerk eine große ehemalige Industriefläche, die mittlerweile zum Gewerbegebiet mit vielen jungen und etablierten Unternehmen, Restaurants und Freizeitmöglichkeiten geworden ist. Im sogenannten
This is the third blog post in a series on IFRS 17 implementation and what insurers need to consider. This one discusses questions about architecture and the importance of a systems approach to provide end-to-end coverage. Getting the architecture right for IFRS 17 implementation will need strong collaboration between different
Der neue International Financial Reporting Standard (IFRS 17) stellt Versicherer vor Veränderungen, wie sie die Branche selten zuvor erlebt hat. Die Vorgaben sollen die Transparenz im Finanzberichtswesen verbessern und außerdem eine Grundlage für die Vergleichbarkeit mit anderen Branchen schaffen. Analysten und andere Branchenspezialisten haben diese Vergleichbarkeit schon seit langer Zeit
IFRS 17 is a once-in-a-lifetime-change for insurance companies. It provides a set of new rules to improve the transparency of financial reporting in insurance companies, comparable to those of other industries. This will be a welcome change for analysts and other stakeholders, who have wanted this for a very long
On the face of it, a partnership between the Internet of Things (IoT) and animals is not an obvious one. However, a number of trials and larger-scale implementations of IoT use with household pets and in farming are showing that connected ’Smudge’ and ‘Daisy’ can provide real benefits. This should
When your industry is going to be turned on its head by something, the sooner you can start planning – or at least thinking about it – the better. The new International Financial Reporting Standard 17 (IFRS 17) will come into force in January 2021, and it’s set to completely
You've probably seen in the news that a volcano erupted in Guatemala recently. But do you really know much about this volcano, or even where it's located? Hopefully this blog post will get you up to speed on your volcanology! Pictures of a recent volcano erupting in Hawaii show slow-moving
Combating insurance fraud and anti-money laundering have always been among the key challenges of the insurance industry. Therefore, the opportunity speaks for itself: SAS has great solutions to overcome these issues, only the proper occasion to display these to the target group needed to be identified.
A new world has opened up in insurance, as the Internet of Things (IoT) changes how insurers and individuals operate. The transition towards a preventative business model is almost inevitable as technology becomes more connected and smarter. Insurance companies cannot afford to ignore the arrival of the IoT, or they
La fortaleza que tiene la analítica ahora es la revolución de las tecnologías como la inteligencia artificial (IA) y el aprendizaje automático. Esta amalgama de innovaciones le da a las empresas, de todas las industrias, la oportunidad de llevar a cabo las percepciones que obtienen de sus datos a una
+Las empresas de todo el mundo están cambiando radicalmente su manera de operar y de relacionarse con clientes y socios. Se encuentran en plena transformación digital y capitalizan tendencias clave para evolucionar, como la nube, el Internet de las Cosas, la inteligencia artificial y la analítica, entre otras. De igual
Karen, in our last talk we discussed the importance of a professionally organized Data-Quality-Management. Today I want to go in a little bit more detailed. Could you describe what is important implementing Data Governance processes? How should such a data governance process be designed? For an efficient data governance process,
Data quality is a topic that is often discussed in insurance, but also plays a subordinate role in the project day. I asked Karen Prillwitz about the importance of data quality at large insurers. For many years Karen has advised insurance companies, and as a project manager in a large
How ready is your insurance organisation for the advent of AI? In the summer of 2017 I took part in a pan EMEA review of the readiness of Insurance companies for implementing AI, the full report can be found here: Pragmatic AI for Insurance. Some of the findings were surprising,
Survival plots are automatically created by the LIFETEST procedure. These graphs are most often customized to fit the needs of SAS users. One way to create the customized survival plot is to save the generated data from the LIFETEST procedure, and then use the SGPLOT procedure to create your custom
Chief Data Officer: talento analítico al servicio del negocio No voy a negar que tengo una perspectiva privilegiada. Desde SAS, la compañía que creó el nicho de la innovación en Analytics hace 42 años , observó cómo el análisis de la información está transformando nuestro entorno positivamente: negocios con mayor
Since the financial crisis, banking regulators have started to use stress testing as a way to examine how banks will manage under adverse conditions. The idea is to ensure that banks hold enough capital to survive economic shocks. The European Banking Authority published its draft stress-testing methodology for 2018 back
Todd Wright says the risk of fines for GDPR noncompliance may pale in comparison to the risk posed by reputation loss.
Quest’articolo è stato tradotto e integrato dal post originale di Lee Thorpe È un cambiamento fondamentale quello a cui le compagnie assicurativa stanno andando incontro. L’IFRS 17 sarà introdotto dallo IASB (International Accounting Standards Board) a partire dal 2020 e trasformerà la modalità di costruzione dei bilanci. Coerentemente con gli
There is so much going on that has potential to improve the way that insurers operate, it’s hard to know which opportunities to address, and also, which risks are too important to ignore. At SAS, we are fortunate to have a team of industry experts who understand how to contextualise
Die Abbildung einer möglichen zukünftigen Situation ist eine Kernaufgabe des Risiko-Managements. Dazu werden unterschiedlich komplexe Modelle mit möglichen Szenarien durchgerechnet. Hierbei erhält man pro Szenario und Vorhersage-Zeitpunkt ein Ergebnis. Bei mehrperiodischen Vorhersagen (z. B. bei Kredit-Portfolien oder Lebensversicherungen) gibt es pro Szenario einen Ergebnis-Pfad. Im Folgenden zeige ich, wie man mit
In my previous post, I described a new options to control the widths of the caps for Whiskers, Error and Limit bars. This topic could have been titled "Little things go a long way", as such details really make for a good graph. In a similar manner, another detail issue
The SG procedures and GTL statements do a lot of work for us to display the data using the specified statements. This includes setting many details such as arrow heads, line patterns etc, including caps. Often, such details have a fixed design according to what seems reasonable for most use
Autounfall und positives Kundenerlebnis? Wie passt das denn zusammen? Vor einigen Monaten ist es dann doch passiert: einmal unaufmerksam gewesen und Auffahrunfall in der Stadt verursacht. So ein Mist! Nicht wirklich schlimm – nur ein bisschen Blechschaden, aber super ärgerlich … Nachdem das Auto abgeschleppt und der erste Ärger verflogen
In the previous post, I discussed creating a 2D grid of spark lines by Year and Claim Type. This graph was presented in the SESUG conference held last week on SAS campus in the paper ""Methods for creating Sparklines using SAS" by Rick Andrews. This grid of sparklines was actually the
The 25th annual SESUG conference was held at in the SAS campus this week. I had the opportunity to meet and chat with many users and attend many excellent presentations. I will write about those that stood out (graphically) in my view. One excellent presentation was on "Methods for creating
Once in a while you run into a pesky situation that is hard to overcome without resorting to major surgery. Such a situation occurs when you have a stacked bar chart with a discrete legend positioned vertically on the side of the graph. A simple example is shown below. title
Paul Ridge, Banking & Insurance Specialist, SAS UK & Ireland, looks at the state of real-time customer experience in the insurance industry and how analytics can power hyper-personalised customer journeys. The insurance industry has always been there to cover the risks we face in our daily lives. Yet we’re seeing those
