Investment Life & Pensions Moneyfacts:  Home is where the wealth is

April 02, 2019 Tom Murray

long term care plans equity release Long Term Care private pension UK population

Home is where the wealth is This article was originally commissioned for the March 2019 edition of the Investment Life & Pensions Moneyfacts Magazine. Tom Murray argues that a vibrant equity release market will be vital in helping the elderly to access the level of care they need. One of the biggest issues faced by the UK is the difficulty people have in maintaining their lifestyles in retirement when the majority of their wealth is tied up in bricks and mortar.  How to provide decent pensions and social care for the elderly, when many of them are asset rich and cash poor is a fundamental problem facing our society, along with most societies in the western world.  For the provision of care to the elderly is spectacularly expensive; average home care costs are £30,000 p.a., £40,000 if nursing care is required.
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We are rebranding to Majesco

March 26, 2019 Sharon Cronin

SaaS Press releases cloud based software Exaxe News rebrand

We are rebranding to Majesco In November 2018, Exaxe was acquired by Majesco, a U.S. based leading software company for the insurance industry.   The acquisition is a complementary fit for both organisations, strengthening our cloud offerings beyond individual life, pensions and wealth management to group and employee benefits and general insurance for the European market.  We share common values of intense customer focus and collaborative culture. Now as an integral part of Majesco, we are rebranding from Exaxe to Majesco for both the company and our products.  Beginning April 1st, you will begin seeing this transition with our social media, email communications and blogs.  On April 8th we will finalise this as we integrate to Majesco’s website.  You will see all our LifePlus Solutions as well as the other Majesco solutions on the website.  
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Hansard Global Plc Selects SaaS-Based Majesco LifePlus Solutions to Transform their Business

March 21, 2019 Sharon Cronin

client win Press releases Exaxe client wins Majesco insurance software

Hansard Global Plc Selects SaaS-Based Majesco LifePlus Solutions to Transform their Business Dublin, Ireland, 21st March 2019 – Majesco (NASDAQ: MJCO), a global leader of cloud core insurance software, today announced that Hansard Global PLC, a FTSE listed business, selected Majesco Life IllustratePlus, Majesco Life AdminPlus, and Majesco Life DistributionPlus to support its ambitious growth plans.    Hansard Global PLC, which is headquartered on the Isle of Man, provides innovative financial products and services for financial advisors and their international clients, leveraging the latest technology to deliver an award-winning online proposition and best-in-class service.
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Actuarial Post: The Ecosystem of Trust

March 19, 2019 Tom Murray

insurance fintech trusted network Millennials ecosystem

Actuarial Post: The Ecosystem of Trust This article was originally commissioned for Inner Workings, a monthly column written by Tom Murray, in the  March 2019 edition of the Actuarial Post.   Insurance is generally regarded as a background product, one of the necessities of life that most people have but do not regard as very exciting when compared to most of their other possessions.  Rarely do you find people snapping or instagraming the moment when their policy proposal is accepted.  In a world when even the most mundane events are seen as fodder for the voracious social media beasts, the highpoint of the insurance cycle doesn’t quite make the cut.
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Majesco Announces Norman Carroll as Managing Director of European Operations

March 12, 2019 Sharon Cronin
Majesco Announces Norman Carroll as Managing Director of European Operations Majesco’s European office to be headquartered in Dublin, Ireland
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CDC Pensions - a complex solution that delivers simplicity for employees

February 15, 2019 Tom Murray

defined contribution NEST state pension CDC schemes defined benefit

CDC Pensions - a complex solution that delivers simplicity for employees   complexity is the bugbear of getting people to save for their retirement.  The need to save is easily explained, but the simplistic solutions of the past, at least to the retiree, of defined benefit pensions and state pensions are either no longer viable (DB schemes) or are under huge pressure from changing demographics (state pensions).   The new approaches being undertaken to resolve the level of under saving in the retirement market are a lot more demanding of financial expertise.
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Actuarial Post: Alexa…Should I do a fund switch?

February 07, 2019 Tom Murray

Financial Adviser Actuarial Post smart technology Alexa robotics

Alexa…Should I do a fund switch? This article was originally commissioned for Inner Workings, a monthly column written by Tom Murray, in the  February 2019 edition of the Actuarial Post.   Among the biggest sellers this year for Christmas gifts were voice-controlled assistants that allow people to control various operations in their houses from the comfort of their own sofas.  Alexa from Amazon is the most famous but other tech companies, such as Apple, Google have similar devices now, which respond directly to the owner’s voice and carry out basic tasks such as playing music, timing dishes being cooked, answering general knowledge queries and providing news and weather information.   
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UK’s new guidance body needs to focus on technology

January 24, 2019 Tom Murray

guidance technology financial education SFGB Single Financial Guidance Body

UK’s new guidance body needs to focus on technology The arrival of the Single Financial Guidance Body is a welcome streamlining of the UK Government’s approach to the provision of financial guidance to the general population.  Merging the three existing bodies, the Money Advice Service, the Pensions Advisory Service and Pension Wise, into a single organisation brings clarity to the services provided by the government.    Although it has yet to be given its official name – the SFGB being an unwieldy working title – the fact that it doesn’t contain the word advice is a good sign. It shows that the body is aware that the use of the word ‘Advice’ in two of the bodies now making up the service was dangerous and could easily confuse the unwary into thinking they were receiving independent advice.  This would be a good indication that the final name chosen will avoid that trap. 
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Actuarial Post: Betting your pension

January 15, 2019 Tom Murray

pension freedom Actuarial Post pension funds annuities

Betting your pension This article was originally commissioned for Inner Workings, a monthly column written by Tom Murray, in the  December 2018 edition of the Actuarial Post.   The move by the government to reduce the shocking social side effects of fixed-odds betting terminals, mainly based in bookmakers’ shops, was welcomed by many in the UK as a good start in dealing with the issues that can arise from addiction to these machines.  Under the new law due to come into effect in 2019, the maximum stake will be reduced to £2, thereby requiring 50 losing spins to lose what could have been lost before on a single spin.
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EU puts a PEPP in the step of digital delivery of pensions

January 08, 2019 Tom Murray

EU Life and Pensions European Union PEPP Pan-European Pension Product

EU puts a PEPP in the step of digital delivery of pensions   The clock is ticking down towards the European Parliament elections in May.  This means that the deadline for the adoption of the Pan-European Pension Product framework is looming, as it is intended that this should be completed before the end of the current parliament.   Indeed, this is probably a necessity, as a new Parliament will inevitably mean a delay whilst new committees are setup and new priorities for the parliament are decided.  Thus, if it doesn’t get adopted prior to the breakup of this parliament, then it is likely to be at best significantly delayed, at worst deprioritised and pushed to the back of the list.
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