Over the last few years, all financial services organizations could familiarize with the concept of Big Data. Widespread digitalization has also made your workplace a proud owner of such an asset. But isn’t it time you consider its usefulness for the business?
In the near future, we will not be looking into magic balls but in freaky-looking glasses to see other dimensions of reality. It will also be more than rollercoasters and monster fights – banks and insurers are getting ready to open their virtual shops’ doors.
The clock is ticking: from October 1, 2018, the Insurance Distribution Directive and its transpositions into local law will be binding for the market players in all EU countries. With the two years originally given by the European Commission for preparation for insurance distributors and the delay of another six months, is it already a level playing field?
The latest edition of the Insurance Trend Report by Insurance Factory is out now, and we are thrilled to announce that SCOLVO is featured with an article about the IDD regulation in the publication.
In today’s economy, insurance distribution faces several challenges in several fields, as the development of technology is in sharp contrast with the old workflows, not to mention compliance.
A week before the original deadline of February 23, the European Commission has agreed to a delay of the implementation date of an important new rule for the insurance sector. The new deadline that will affect the national markets is October 1, but the respective local legislations should be adjusted by July 1, 2018. Let’s see how the different countries prepared for the Insurance Distribution Directive.
Insurers are soon to face another probe regarding a recent regulation: besides the already known GDPR, the sector will have to comply with the Insurance Distribution Directive (IDD) of the EU. Digitalization and mobility offer a viable solution to that problem.