Louis Bell

Pensions dashboards preparation has typically centred around two core areas - data readiness and connection. Yet, as the first connection dates approach, thoughts turn to another vital element for dashboard success: are we ready to talk to our members about them yet? The latest article in our dashboards series examines this subject, focusing on member communication and the need for ongoing maintenance post-launch. Read here: https://lnkd.in/ex6WYyMN

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What's on Vic's radar this month?... DATA!   WAIT... don't stop reading... Data can be fun! 😊  😎 🤓 So, why data and why now?  Our recent MMB UK Market Insights report has reinforced my belief that data is key. The report tells us that companies are seeking tools and platforms that enable them to access their data and gain valuable insights. Now more than ever, we need data to drive decisions that will impact change and improve overall employee health. What data should we be looking at?   - Insurance claims, absence, employee surveys, occupational health, employee demographics, etc.  - Benefits and overlaps in coverage.  These are just some areas you can analyse to spot trends and help drive a people strategy that has tangible results. More and more clients are asking for our help to understand the correlation between these data sets, which is why I love working at Mercer because we have access to amazing tools and resources to support our clients with this data. And because at the end of the day, I am just a girl who loves data! 🤓

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Thanks to the Motor Insurers'​ Bureau (MIB) for inviting me to speak about Borderless Fraud across Europe at the UK Cross Border Corresspondents Conference today. Great speakers and some excellent insight on how we can work more collaboratively to tackle the challenges. #borderlessfraud #ifb

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The first time was nice, so they done it twice! Blueprint Two is the latest modernisation programme and the future of bordereaux management. Reiss Gavin shares his thoughts in this interesting read

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Why does car insurance keep going up?! Figures released a few months ago show the average price paid for motor insurance has continued to rise over the past few years. It is apparently driven by record increases in the cost to insurers to pay claims. This means motor cover was 25% more expensive on average across the whole of 2023 than in 2022. In the first quarter (Q1) of 2024, data shows the average monthly premium price was £139.45 - a staggering 67.6% higher than in Q1 2022 when the average was £83.18 and 38.4% higher than Q1 2023 (£100.71). Why do I have to keep changing my provider every single year to get a competitive quote? Another year older, Another year of no claims and yet another price rise!! Why don't insurance companies want customer loyalty? #motorinsurance #pricing #linkedin Source:Moneysupermarket Gerrard White Consulting Vermelo RPO

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Keen to know more about Travelers Schemes? Watch our latest interview with Schemes Development Manager, David Bailey ACII Chartered Insurer, as he outlines our growing appetite for schemes, the importance of a strong partnership and what you can expect if you work with us. Watch now >> https://travl.rs/4ehiLIc #Schemes #InsuranceSchemes #MGA #DelegatedAuthority

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UK General Insurance: The Top Trends in 2024 for Data 🔍 As we come to the end of 2024, there have been a few focus areas within GI Data, mostly in line with process and product improvements. This goes hand in hand with a majority of insurers moving to a data driven approach (and rightly so!) Some of the top insights I've seen have been: Advanced Predictive Analytics 📈 Insurers are leveraging predictive analytics to enhance risk assessment, optimisation and pricing models. By analyzing historical/market data and identifying patterns, companies are able to predict future claims more accurately and set premiums accordingly. AI-Powered Fraud Detection 🕵️‍♂️ Artificial intelligence is playing a crucial role in detecting and preventing fraud, which is on the rise. Machine learning algorithms are being used to identify suspicious activities and anomalies in real-time, reducing fraudulent claims and saving costs. Customer-Centric Solutions 💡 Investment into data analytics is enabling insurers to offer more personalized and customer-centric solutions. There has been an increase in recent years on digital based products/online only policy options, so this is essential to ensure customer experience is still where it needs to be. By understanding customer behavior and preferences, insurers can tailor their products and services to meet individual needs, improving customer satisfaction and retention. Telematics and Usage-Based Insurance 🚗 The adoption of telematics and usage-based insurance (UBI) has increased this year. By collecting data on driving behavior through IoT devices, insurers can offer more flexible and fair pricing models, rewarding safe drivers with lower premiums - a big consideration in this economy! Enhanced Claims Processing ⚙️ Analytics is streamlining the claims process, making it faster and more efficient. Automated systems and real-time data analysis are helping insurers process claims quickly, reducing turnaround times and improving customer experience. Regulatory Compliance and Data Security 🔐 With the increasing focus on data privacy and regulatory compliance for data quality and governance, insurers are investing in robust data governance frameworks. Analytics tools are helping companies ensure compliance with regulations such as GDPR, while also safeguarding customer data. 2024 has been an unpredictable year for the data market, with GI being no exception. The good news is that as we head in 2025, there are more vacancies being budgeted for and next year will be a year of growth for many. Watch this space 🚀 Is there anything else you would add? #InsuranceAnalytics #GeneralInsurance #PredictiveAnalytics #Telematics #DataGovernance #InsuranceTrends2024

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𝐂𝐕 𝐭𝐢𝐩𝐬 𝐟𝐫𝐨𝐦 𝐭𝐡𝐞 𝐅𝐢𝐧𝐢𝐭𝐚𝐬 𝐭𝐞𝐚𝐦, 𝐫𝐨𝐮𝐧𝐝-𝐮𝐩!⬇️ Over the last few months, we have collectively posted CV tips covering our focussed markets for candidates. We hope these tips have benefited anyone looking for a career change or new opportunities in the below markets! 🚀 Lizzie Risdale, Lead Delivery Consultant, shared insights on the Actuarial Market. 📊 Josh Jennings, Lead Senior Consultant, offered tips on the Data Market. 📄 Jenna Parker Lugg, Lead Consultant, provided advice on the Claims & Compliance Market. 📚 Tom Bithell, Senior Consultant, gave guidance on the Compliance Market. 📈 Adam Akhtar, Consultant, shared expertise on the Business Change Market. 💻 Fiaz To, Lead Principal Delivery Consultant, provided insights on the Fintech Market. We also provided some more general advice for anyone looking to apply for a new role. If you are looking for a new position in any of the above markets, please reach out to our team today by clicking on the link in the comments below! #CVtips #Newjob #Recruitment #CV #Insurance #Data #BusinessChange #Fintech #Actuarial #Claims #Compliance

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Our Endgame Solutions Working Group brings together learnings from across our 200+ clients. Here we shine the spotlight on Head of the Group, Lynne Rawcliffe.   “My career began as a graduate trainee actuary at Mercer, after obtaining a first class honours degree in Mathematics and Statistics from Lancaster University. I found that I most enjoyed the wider variety of pension consulting. I changed approach, quickly completed the Pensions Management Institute (PMI) Associate Exams and am now a Fellow of the PMI, and an Accredited Professional Pension Trustee.   After 10+ years I moved in house as Scheme Manager with responsibility for a c£1.5bn hybrid scheme with 12,000 members. I supported stakeholders in overseeing UK pensions, strategy, acquisitions, divestitures and change projects. Following another in-house role I decided to make the move to trusteeship!   “Endgame strategies” is a big theme. Schemes tend to have a unique set of circumstances, so it’s important to stand back and consider all options, to find the optimal one.   Many of our schemes are aiming to buy-in ASAP or when affordable, typically aiming to transition to buy-out quickly afterwards. This applies to my smallest c£3m scheme (Corporate Sole Trustee) and also to a much larger one which is driven by the employer, despite a material cash contribution being required. At the opposite end, we’re discussing a run-on strategy with the sponsor of a very well-funded scheme with assets over £1bn. Use of surplus and views around insurance v run on and associated risk management are ongoing conversations. As trustees, we obviously have focus on the security of members’ benefits and members’ experience, but we always consider the sponsor’s views and circumstances too and the best solution can be a positive outcome for all stakeholders. We are interested to see the response from the DWP on it’s consultation on the Use of Surplus, which may influence the long-term strategy for schemes running-on.    I also represent LawDeb as a Trustee of the Clara Pensions Trust. The Clara Superfund’s innovative approach has helped to secure and enhance member benefits, particularly with the Debenhams scheme. With the established “Bridge to buy-out” option and further developing ones, Clara appears well placed to help many more schemes with their endgames.   Away from LawDeb I play netball in a women’s league and enjoy running. I have two teenage daughters and have played netball a few times with them now, both on the same and opposite teams! I enjoy good food and wine-tasting and spending time with family and friends.”   Thank you Lynne. For more on the Endgame Solutions Working Group contact Lynne, Nicole Weiner ACC or see our overview: https://lnkd.in/esqCvgmw

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Amazing to see this article from Pensions Expert after the "Data, AI and Dashboards-- A Match Made in Heaven?" webinar for Pension Dashboards Week on Wednesday (courtesy of Bravura Solutions).   The pensions industry has become too complacent with its data. Many schemes believe dashboards will solve their inaccurate data issues--instead, it will magnify them into a nightmare of epic proportions.   Our managing director Lisa Lyon was quoted in the article: "Many pension schemes actually don't feel it's necessary to get their data up to date until maybe somebody retires. Some schemes think Pension Dashboards is going to fix it, but it's not. If you don't have accurate data now, going [into the dashboard rollout] is going to give you a whole nightmare of issues".   Commenting on the article today, Lisa said "If schemes are not confident their data is accurate, they will not be able to accurately make matches once dashboards have been rolled out. For larger schemes, this will result in hundreds of thousands of unnecessary investigations into potential matches which will put an unnecessary strain on already stretched resources. Beyond this if schemes, both large and small, use data that's inaccurate or not comprehensive enough, it's highly likely that they could match the wrong person to the wrong pension- or not match at all -opening up a whole world of data breaches, regulator fines and data overhauls". #PDW2024 #Targetprofessionalservices #Dataaccuracy #Pensions #Data https://lnkd.in/ewHnBm_q

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#Labour's new #housing algorithm, meant to address the UK housing crisis, is criticised for planning more new homes in already affordable areas like #Burnley and #Hull, while reducing targets in high-demand cities like London and #Birmingham. This approach may exacerbate housing shortages where they are most needed. The #algorithm shifts from measuring household growth to housing #stock, failing to account for #population shifts and current housing #demands. There's still time to revise the plan to better focus on high-need areas. Read more: [CityAM](https://lnkd.in/exu2nG9T).

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Whether it's GCSE, A Levels or Actuarial exams... results day is thick with emotions! Whilst I am always around to support those working through Actuarial exams, here are a couple of things to consider for those in my network supporting younger adults/children during this time. Listen and Reassure: Create a safe space for your child to express their feelings. Listen to their concerns, and remind them that their worth is not defined by a grade. Celebrate Effort: Acknowledge the hard work and dedication they put into preparing for the exams. Every effort counts, and this is an opportunity to celebrate their perseverance. Discuss Options: If the results aren't as expected, discuss the various pathways available. Many routes lead to success, and setbacks can often be stepping stones to new opportunities. Encourage Self-Reflection: Help them reflect on what they've learned throughout the process, both academically and personally. This reflection can foster resilience and growth. Be There for Them: Your presence and support are invaluable. Sometimes, just knowing you're there can provide the comfort and confidence they need to move forward. Remember, success is a journey, not a destination. Let's support our children in building their resilience, celebrating their achievements, and finding their unique paths to success. 🌟 #ExamResults #ParentalSupport #Resilience #SuccessJourney #ChildDevelopment #SupportiveParenting

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One of the best parts of our Open Gi Broker Support service is when we suggest a new, time saving process that the client didn't even know existed! We're not about reinventing the wheel, but who doesn't like a bit of super helpful innovation every now and then? 😀🤔 Want to know if you're getting the most out of your Open Gi system, why not get in touch with Damon Burke ? The link is in the comments 👍 #opengi #support #fcacompliance #gdprcompliance

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📣Attention insurers! It's not too late to enter the General Insurer of the Decade category at the British Insurance Awards. To celebrate our 30th anniversary, we plan to reward the general insurer that has made the biggest mark on the sector over the last 10 years [2015 – 2024]. Thank you to Sedgwick for sponsoring this category. The winner will be judged in terms of success in the following areas: 🌟Financial goals achieved versus objectives and business plan. 🌟Transformational moves [technology, M&A, investment, hire, diversification etc…] to further the standing of the business. 🌟Supporting and delighting customers whether individual policyholders, commercial clients or by extension brokers. 🌟Raising the bar in terms of being both a good employer and an industry standard-bearer for DEI and ESG. 🌟Any other notable achievements that you think should be highlighted to support your case for being The General Insurer of the Decade. Enter here: https://hubs.li/Q02tzF6v0 Entries close at 5pm on Friday 17 May. #BIA24

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Sue Coffey took to the stage as part of a BIBA panel this morning to talk about 'What's Next' for insurers? There was a big focus around sharing data, and working together, to help with things like the growing underinsurance concerns across the industry and doing what we can to improve efficiencies, service and pricing for the customer. #biba2024 #bibaconference2024 #whatsnext #insuranceevents #insurance #doingwhatreallymatters

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Join me on Thursday and find out how flexible annuities can be a tax efficient solution for your clients. #homeofflexibleannuities #taxefficiency

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