Tom Murray

Tom is Head of Product Strategy at Exaxe with primary responsibility of overseeing product direction. Tom has extensive experience of managing web based insurance software from conceptual design through to commercial release and beyond. Tom has been leading the development of the Exaxe Internet insurance architecture since August 1999.
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Recent Posts

Actuarial Post: All the king’s horses…

September 11, 2018 Tom Murray

Pensions freedom retirement planning FCA Pension Wise retirement income

ACTUARIAL POST: All the king’s horses…  This article was originally commissioned for Inner Workings, a monthly column written by Tom Murray, in the  August 2018 edition of the Actuarial Post.   Once upon a time, people saving for their retirement were given a great deal of support by the taxpayer. This was provided on the basis that there were severe restrictions around the money saved and that the savers would ultimately be forced to use that money to buy annuities. These would provide a guaranteed income in retirement, ensuring that the taxpayer would have far less responsibility for the retiree, and therefore was getting a good deal for the tax foregone.
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Smart devices are key to reaching smart millennials

July 12, 2018 Tom Murray

smartphones smart technology robo-advice Millennials smart pensions

ACTUARIAL POST: Smart devices are key to reaching smart millennials This article was originally commissioned for Inner Workings, a monthly column written by Tom Murray, in the  July 2018 edition of the Actuarial Post.   For years, there was a huge problem in the pension industry.  People didn’t get interested in the idea of pensions until they were older and thereby missed out on the savings and employer/government contributions in the early years of their working life.    Finally, the UK seems to have cracked it.  The latest figures from the Department of Work and Pensions give the amazing news that not only did over 80% of all eligible employees contribute to a workplace pension last year but that the number of millennials contributing was 78%.  Given the pressures facing millennials in the primary areas of housing and their usually lower earnings as they are at the early stage of their careers, this is a tremendous result. 
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Actuarial Post: Even Robots must be regulated

June 28, 2018 Tom Murray

FCA regulations robo-advice robots

Actuarial post: Even Robots must be regulated This article was originally commissioned for Inner Workings, a monthly column written by Tom Murray, in the  June 2018 edition of the Actuarial Post.   The FCA have started their review process of firms providing retail investment advice through automated channels. They are trying to see how they can best regulate the new area of auto-advisers. Whilst it is still early days in this market, it is only at the evolutionary stage and there were only three firms examined, the potential for significant harm if they get it wrong is very great. The challenges for the FCA are great in trying to control an aspect of the industry that is only beginning to take on shape.
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Actuarial Post: Earning trust on social media

April 26, 2018 Tom Murray

facebook Life and Pensions technology data protection Actuaries

Actuarial Post: Earning trust on social media This article was originally commissioned for Inner Workings, a monthly column written by Tom Murray, in the  April 2018 edition of the Actuarial Post.   The outright abuse of personal data epitomised in the recent scandals, concerning elections in the Western world, has shown that there are severe limits to the level of controls that you can put on your information once you have submitted it voluntarily online. If a total stranger sat beside you on a bus or a train and asked you about your personal musical preferences or which newspaper you liked to read, you would be very wary about supplying the answers.  Not that there is anything particularly top-secret about such information, nor is it very personal, but nevertheless an uneasiness would creep in that the other individual had to be up to no good if they wanted that kind of information.  In other words, you would assume that you were being setup for a sting.
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Investment Life & Pensions Moneyfacts: The real Brexit dividend for pensions

April 06, 2018 Tom Murray

Pensions Brexit pension regulations Investment Life & Pensions Moneyfacts

The real Brexit dividend for pensions   This article was originally commissioned for the March 2018 edition of the Investment Life & Pensions Moneyfacts Magazine.  Tom Murray argues that a slowdown of new regulation, and the stability that this brings to long-term planning, could be the real Brexit dividend for pensions. There is a lot of noise in the media at the moment about the so-called “Brexit dividend”.  Leave supporters claim that there will be a huge financial windfall from leaving the EU, in line with the infamous claim of a possible extra £350 million per week for the NHS.  Although this was widely discredited in the months since the referendum, it has been raised again by the Foreign Secretary, who now reckons it will be even higher.  
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Actuarial Post: Eye, Robot!

March 14, 2018 Tom Murray

Life and Pensions technology Actuaries Actuarial Post security

Eye, Robot! This article was originally commissioned for Inner Workings, a monthly column written by Tom Murray, in the  March 2018 edition of the Actuarial Post.   It may be a staple of Hollywood movies, such as Judge Dredd or Minority Report, to use retina-scanning to make the point that the movie is set in the future or to engender fear in horror movies by having the bad guys remove eyes to get access to retina-scan locked buildings, but reality is catching up as biometrics are moving mainstream in many industries in order to control access to particular sections of the building or to monitor hours worked.  The question is whether it adds any value to the life and pensions sector or whether we should consider it as a fad that will fade without us spending the time and money to get involved.
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Strawman more urgent than snowman

March 02, 2018 Tom Murray

politics Ageing population Autoenrolment pension reform irish government

Strawman more urgent than snowman   The Irish Government’s latest foray into the world of pension reform has been buried under an avalanche of snow. Given the ageing population in Ireland and the ever-mounting costs of providing for people in their old age, this issue deserves far more front-page space than the ability of people to survive two days without a fresh supply of bread or milk. Such is human nature, however, that we find Storm Emma dominating the front pages whilst the government plans for pensions are firmly buried deep in the business sections.
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Investment Life and Pensions Moneyfacts: The chains that bind our youth

February 07, 2018 Tom Murray

financial education financial debt financial goals generation debt personal finance

Investment Life and Pensions Moneyfacts: The chains that bind our youth This article was originally commissioned for Investment Life & Pensions Moneyfacts Magazine.  Tom Murray reflects on the growing need to ensure that young people are financially competent. "Good habits formed at youth make all the difference.”  This famous quotation from Aristotle has stood the test of time.  Few will query its application to living a good life and proper financial planning is clearly an important component of a good life.  So how are we doing in terms of ensuring that our young people are financially competent and enabled to enhance their life and cleverly use their assets throughout it?  
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Wearable technologies won’t wash!

February 01, 2018 Tom Murray

protection life protection smart watches wearable technology smart rings

Wearable technologies won't wash! This article was originally commissioned for the January 2018 edition of the Actuarial Post.   The key to developing good protection products is to have a strong underlying base of data from which to deduce what the correct rates should be. This allows the life assurers to provide the maximum protection for the consumer without bankrupting themselves. Traditionally, this comes from large data sets assembled by experts giving broad categories into which the consumer was placed. The resulting calculations enabled accurate estimates to be made, assuming the sales to each broad category were sufficiently strong. The advent of new technology, in the form of wearable technology such as watches and wristbands that measure exercise and vital signs, was supposed to bring about a new era of personal life assurance.
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Investment Life & Pensions Moneyfacts: The cold, hard truth

December 04, 2017 Tom Murray

UK pension policy Brexit Investment Life & Pensions Moneyfacts Long Term Care

Investment Life & Pensions Moneyfacts: The cold, hard truth This article was originally commissioned for Investment Life & Pensions Moneyfacts Magazine. Tom Murray looks at how the high old-age dependency ratio afflicting Finland should serve as a warning to the UK Government that a long-term strategy is needed.
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