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On the Road to ADAS Data

Not too long ago, slowing down a car and bringing it to a stop relied purely on the attention and actions of the driver. Today, over 70% of new cars in the U.K. have Automatic Emergency Braking (AEB) as standard and more than 83% have a self-activating system . Globally, in the 5-year period between 2015 and 2020, the Advanced Driver Assistance Systems (ADAS) market doubled in size and is expected to reach nearly 32 billion U.S. dollars by 2023 .
Posted on Monday Jun 21

How much income do I need in retirement

When I started work in the late 1980s this was an easy question to answer - you’ll need a pension of around two-thirds of your pay at the point you retire, index-linked, of course. The truth is that the ‘two-thirds of final salary’ rule-of-thumb was probably outdated even then. It hadn’t changed since final salary schemes were established decades before.
Posted on Friday Jun 18

The Pensions Dashboards what do schemes need to do

It’s time to start preparing for the Pensions Dashboards. The first ‘volunteer’ schemes will start participating in 2022. Staged ‘onboarding’ for all schemes is expected to begin in 2023 and will be a legal requirement. What is the latest state of play? What are the key issues? What do you need to do to get your scheme ready?

Chris Curry, Principal, Pensions Dashboards Programme
Nigel Peaple, Director of Policy and Advocacy, PLSA; Member of Pensions Dashboards Programme Steering Group
Richard Smith, Pensions Dashboards Consultant, PLSA
Chair: James Walsh, Head of Member Engagement, PLSA
Posted on Thursday Jun 17

Home sweet home

After a hiatus due to the pandemic, sales of equity release products have bounced back strongly to where they were pre-Covid. Sales have been growing steadily year on year since 2015 but are still nowhere near their full potential. Surprisingly, when one considers the amount of wealth that is tied up in equity in the UK, equity release plans are still a relatively niche product.
Posted on Wednesday Jun 16

Live Next Week The Future of Insurance USA 2021

Next week - Reuters Events: The Future of Insurance USA 2021 (June 22-24), the high-level industry event of the year goes live. Over 1,000 insurance professionals from all major US carriers will join forces to drive the transformation of insurance in the digital era. Traditional insurance as we know it is over. We must evolve. You can register today (before registration closes):
Posted on Wednesday Jun 16

Designing better risk models for the next pandemic

It will take time and resources to build an infectious disease risk model – re/insurers will have to be more innovative in their pandemic coverage and exposure management. Natural catastrophe risk models have revolutionised the property/casualty re/insurance business over the past 30 years. They have allowed more efficient deployment of capital by providing a rigorous way of estimating potential losses, better quantifying the tail and increasing trust in the probabilities assigned to natural disaster events and the damage and losses they produce.
Posted on Monday Jun 14

ESG and climate risks where do you start

Cost transparency is evolving, and new reporting requirements on ESG are impending. Crucial to both: data. Our webinar with PLSA education partners CACEIS, Pat Sharman, Managing Director UK, and Scott Foster, Product Specialist, Cost Transparency will discuss the common blind spots on the CTI and the steps to assess the quality of your data so you can improve governance. They will help you understand the data available to assess ESG and climate risk, with a case study of ESG breaches. As more emphasis is being put on UK schemes to consider the impact of ESG and climate change risks on their investments, register to gain access to tips on how to manage these risks.
Posted on Thursday Jun 10

Agenda Release Reuters Events Future of Insurance USA 2021

In just 2 weeks time, over 1,000+ of the top visionary leaders from all major US Insurance Carriers will join Reuters Events: The Future of Insurance USA 2021 (June 22-24) to drive the insurance evolution in the digital era. In addition to the exclusive 1:1 interviews with the CEOs from Allstate, Zurich, Hippo, Prudential Financial and Allianz Life, here are some key panel sessions that we have highlighted for you:
Posted on Thursday Jun 10

Master Trust default funds recover quickly after COVID

DC Master Trust default funds have seen the value of investments shoot up over the last 12 months despite the market crash at the start of the pandemic, according to analysis from Hymans Robertson. Its latest Master Trust Default Fund Report shows that retirement outcomes for Master Trust pension scheme savers not only recovered but improved over the year.
Posted on Tuesday Jun 8

Order of the day

It may be an odd thing for a pensions specialist to say, but retirement planning is not all about pensions. It’s not just where people save their money that is important, but rather ensuring that they do commit to saving in the first place. Having a diversified portfolio of investments at retirement can also be a distinct advantage for those who can afford it.
Posted on Monday Jun 7

C Suite leaders speaking at The Future of Insurance USA 2021

Reuters Events: The Future of Insurance USA 2021 (June 22-24) goes LIVE in just under 3 weeks, setting the roadmap for insurance with insight from the industry’s biggest names. We are bringing together 1,000+ insurance execs from across the insurance ecosystem to realign strategy, drive innovation, and develop operations for success post-pandemic. This is the must-attend event for the insurance industry.
Posted on Friday Jun 4

GMP indexation the winners and losers

The UK Government has decided to make public service pension schemes fully responsible for annually increasing public sector pensions in line with inflation. After five years of uncertainty, in March 2021 the government confirmed its chosen method for ensuring that guaranteed minimum pensions (GMPs) continue to increase annually in line with price inflation. This decision applies to all public service pensioners with a GMP who reach state pension age after 5 April 2021.
Posted on Friday Jun 4

Transforming pricing to a strategic priority

A survey of UK life insurance pricing teams conducted by PwC UK and Montoux reveals the degree to which life insurer pricing functions have evolved and grown over the past several years. The survey highlights where certain insurers have made strong commitments to improving the pricing process, strengthening digital capabilities and integrating market data which has transformed pricing from a back-office function to a key growth lever.
Posted on Tuesday Jun 1

10 tips for helping members save more for their retirement

What do you get when you combine a head of pensions, a behavioural scientist and 3 pension scheme members talking about retirement? A whole load of good ideas on how to encourage members to save more for retirement, that’s what. It was my pleasure to host 5 wonderful guests recently on a series of podcasts recorded as part of our 100th Birthday celebrations. The theme was the same for all - how can we get people engaged and saving more for their retirement?
Posted on Thursday May 27

Challenges and opportunities facing the pensions industry

TPR Chief Executive Charles Counsell talks to Stephen Timms, chair of the Work and Pensions Committee, on the challenges and opportunities facing the pensions industry, including the new Pension Schemes Act, tackling scams, what lies ahead for automatic enrolment and the impact of climate change.
Posted on Wednesday May 26

The right call for customers starts with right data

As the UK emerges out of lockdown, insurance providers will not only need to consider the change in mind-set that the experiences of the past year may have created amongst their personal lines and business customers, they also need to prepare for changes to pricing practices. These factors are heightening the demand for reliable and accurate data at speed, at point of quote, renewal and mid-term adjustment in order to make the most informed pricing decisions.
Posted on Tuesday May 25

Are you getting the best out of your governance committee

As more companies switch their future pension provision to a DC Master Trust, the role of Governance Committees, already well established in the GPP world, is more important than ever. But how can you ensure you are getting the best from your Committee? One of the first secrets to governance success is having the right people in the right place. Your Committee members need to be engaged! That may sound obvious, but many people sit on boards for the wrong reasons.
Posted on Friday May 21

Global IFRS regulatory assets and regulatory liabilities

This EY video addresses the IASB’s proposals for the recognition, measurement, presentation and disclosure of regulatory assets, regulatory liabilities, regulatory income and regulatory expense.
Posted on Thursday May 20

I Like the way you work it no dividends

The last decade or so has thrown down a challenge to a variety of conventional economic theories. One difficulty with economics is that it’s not a model of anything permanent, but ultimately a model of human behaviour. In physics, whether everyone believes something or no-one does has no impact on its truth or falsehood. In economics, if enough- or if the relevant- people believe in a theory and act accordingly, that can make it true.
Posted on Thursday May 20

Underwriting Innovation Europe from June 28 to 30 2021

Chief Underwriting Officers and C-level executives from Lloyd’s, AXA, AGCS, Zurich, MS Amlin, ERGO, Beazley, Munich Re, SCOR P&C, Bought By Many, Swiss Re, and Aviva, will all be speaking at Intelligent Insurer’s Underwriting Innovation Europe Virtual Event (June 28–30). This is your best opportunity of 2021 to hear top-level insurance experts debate the next era of underwriting, fuelled by an abundance of data and emerging technology.
Posted on Tuesday May 18

New code of practice requires increased professionalism

The Pensions Regulator’s (TPR) new code of practice was published last month and while many of the 149 pages are a clearer communication of existing expectations, there are some requirements which are new. One of the new requirements is that trustees have an effective system of governance (ESOG), and that they carry out an annual own risk assessment (ORA) on how effective that system is.
Posted on Monday May 17

New CEOs confirmed for The Future of Insurance USA 2021

The Future of Insurance USA 2021 (June 22-24, 2021) is North America’s most senior, strategic insurance gathering, uniting top decision makers from across the insurance ecosystem, to build resilience, seize opportunity and drive growth, to lead the evolution of the industry through the digital era. With a number of C-Level executives already confirmed, Reuters Events are pleased to announce that a number of CEOs from the industry’s leading organizations have committed to speak
Posted on Friday May 14

Register now for the Commercial Lines event of the year

Last Chance To Register For The Commercial Lines Event Of The Year. In the past few weeks, hundreds of commercial lines innovators have rushed to secure their place at the largest online gathering of senior-level insurers tackling digital transformation for commercial lines of business. With 900+ already confirmed to attend from companies including ...
Posted on Thursday May 13

Mind the gap in womens pensions

The perennial issue of the gender pay gap gets a lot of publicity but the same level of publicity is not given to an issue that is, at least in part, derived from it. A recent report by Profile Pensions showed that there was an even wider gender gap when it comes to UK pensions. Men’s pension pots are significantly higher than women’s – almost 50% bigger in some parts of the UK and averaging 40% across the country. Given women’s greater longevity, this is surely storing up big problems for the future.
Posted on Thursday May 13

Nests CIO Quarterly Report for Q1 2021

Watch Chief Investment Officer, Mark Fawcett, discuss how markets and Nest funds have performed in Q1. Mark also discusses Nest's new Fund Managers and why infrastructure is a good investment for Nest.
Posted on Tuesday May 11