Countdown to GDPR

September 07, 2017 Tom Murray

data security Life and Pensions data protection data loss GDPR

Countdown to GDPR This article was originally commissioned for Investment Life & Pensions Moneyfacts Magazine. Tom Murray looks at the importance of ensuring that life and pensions providers are ready to deal with the introduction of the General Data Protection Regulation (GDPR) in May 2018.
Read More

Time for Pensions to blow its own trumpet

September 05, 2017 Tom Murray

Pensions which magazine Life & Pensions financial services

Time for Pensions to blow its own trumpet A recent survey by Which? magazine found that the general public has greater faith in Banks than it does in pensions. Banking services are trusted far more than any long-term savings product such as pensions, by a margin of 40% to 23%. 
Read More

Pensions Dashboard – information at the expense of knowledge?

August 17, 2017 Tom Murray

Pensions Association of British Insurers pensions dashboard

Pensions Dashboard – information at the expense of knowledge?     By Tom Murray, Head of Product Strategy, Exaxe. This article was originally commissioned for the August 2017 edition of the Actuarial Post.
Read More

GDPR is coming…

August 03, 2017 Tom Murray

data protection GDPR

GDPR is coming… Forget about Brexit; it is GDPR that is likely to cause the biggest issues for UK life and pension firms in the short and medium term.  The General Data Protection Regulation comes into force on 25th May 2018, well before Brexit day, so all firms in the UK that handle any personal data will come under its remit.  And that will hit life and pension firms heavily, as their business is based on holding large amounts of personal data upon which to base their pricing decision when selling and administering policies, and to provide a justification for claims when they finally arrive. 
Read More

Actuarial Post: Stop guiding and give people advice

July 18, 2017 Tom Murray

guidance The future of financial advice Actuarial Post

Stop guiding and give people advice This article was originally commissioned for the July 2017 edition of the Actuarial Post. At first, the prospects for the new pensions minister didn’t look good. A government, without a working majority, and dependent upon a smaller party that was enmeshed in the intricacies of Brexit, didn’t seem to be in a position to sort out the tangled world of long-term savings and provision for the elderly. This was made even more certain by the problems that arose during the election campaign around the whole area of long-term care.
Read More

Short term pensions ministers inhibits long term strategies

June 22, 2017 Tom Murray

politics pension policy Minister for pensions

Short term pension ministers inhibits long term strategies The fourth pensions minister in two years is in the building.  In May 2015, the minister was Steve Webb, the Liberal Democrat incumbent who was replaced after the general election by Baroness Ros Altman. 
Read More

Aviva buying, AIG innovating & Exaxe launching

Life & Pensions life insurance

  Aviva CEO – “We want acquisitions.” Speaking on Wednesday, the company’s CEO Mark Wilson announced at a Press conference that: “We want to turn Aviva into a fintech. We will do acquisitions in this space… I don’t mean billions, there’s nothing imminent.” “We believe what we have is world leading,” he said. “What we’re trying to do is fundamentally change the insurance industry. How long will it take? I don't know.” The company is said to be spending a minimum of £100 million a year on digital transformation and has established a venture capital fund that has £200 million to invest by 2020. It has already made six investments, with another imminent. Read More: Aviva CEO – “We want acquisitions.”
Read More

Equity release, is it the new black?

equity release

According to the FT Adviser Tory plans for the social care sector could drive more people towards equity release... The article goes on to say ....Under the proposal, published in the Conservative manifesto last week, the threshold for free social care will increase from £23,250 to £100,000 but the value of a property will be included in the calculation for people who need care in their own homes. However, those in care will be able to keep their homes until after they die, when the home will be sold to recover the costs, with £100,000 passed on to loved ones, guaranteed.... read more: Tory social care plans could boost equity release Only last week did Retirement Advantage launch an equity release product that it claims has the lowest interest rate ever they have offered. The Lifestyle Lite product has a monthly interest rate of 3.92 per cent, and comes with an optional cash reserve facility for an extra cost. It is part of the Lifestyle Options range, which also includes Gold and Platinum plans, and is a traditional-style equity release product, where the customer receives a one-off cash lump sum and the interest on it rolls up and is added to a lifetime mortgage secured against the customer’s home. Read more : Equity release plan launches their 'lowest rate ever' So will equity release be the must have item for 2017?
Read More

Investec into life insurance, Pension Board and Robo Future in the UK

Pensions robo-advice life insurance

Read More

Virgin Money Life Insurance, Auto Enrolment & Blockchain

Autoenrolment life insurance blockchain

Virgin Money launch new life insurance product ...Building upon the success of Junction, BGL Group’s personal lines affinity insurance business, which is the largest in the UK, the contract with Virgin Money is the first life insurance affinity partnership for BGL Group....
Read More

Subscribe to Blog Updates

Recent Posts

EZine Sign Up