As the industry continues to face a challenging regulatory and capital management environment, new technologies such as Netsett are helping insurers to keep ahead of these development, as Emmanuel de Rességuier, global head of Working Capital Advisory, Insurance at Deutsche Bank, explains.
The low yield environment, tightening regulation and the need for innovation are forcing insurers to consider the benefits of technology more than ever.
With demands growing for more efficient processing and reporting and better allocation of capital, Deutsche Bank, in conjunction with Xchanging, has launched Netsett—a global accounting and net settlement programme that uses standard data to streamline premium and claim payment processing within the industry.
Offering tangible benefits such as 100 percent cash allocation and an 80 percent reduction in net funding, Netsett is about to revolutionise the industry.
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