Financial Services Experts Discuss How Tight Regulatory Restrictions Threaten Insurance Companies

SAP NEWSBYTE - September 28, 2009 - Financial services experts Geoff Riddell, chairman of Global Corporate and CEO Asia-Pacific and Middle East for Zurich Financial Services; Bob Yates, consultant at Fox-Pitt, Kelton; and Brian Shea, analyst at Banc of America Securities, Merrill Lynch, came together recently to discuss how insurance companies globally are preparing for a tougher regulatory environment. Tighter government controls of the financial services sector is one of the many changes coming out of the financial crisis. Such controls can hinder insurance firms and cause a new threat to their business. With their combined years of experience, the experts converse about data management, regulatory threats, protection of the financial services market, opportunities and threats coming for insurance companies and how insurers can prepare for market changes.

The panel was pulled together to comment on the results of a recent research report, Strengthening Governance, Risk and Compliance in the Insurance Industry (PDF), that was published by the Economist Intelligence Unit (EIU) and sponsored by SAP. The study interviewed insurance senior executives about financial processes and their attempts to improve them through technology.

To see the experts answer tough questions about the regulatory threats to the insurance industry, view a replay of the webcast, “Dealing With the Backlash” (login required).