Scyllogis are committed to keeping ourselves at the forefront of technology developments to ensure consistent delivery of business objectives within the Insurance and Reinsurance sectors.
To do this we regularly contribute to the discussion and debate of important industry issues, and publish white papers and articles in the trade press. Additionally through our website Blog we now aim to further these discussions by continuing to add our perspective and opinions to those of the global Insurance community....
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Wednesday, 03 March 2010 |
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The impacts of Solvency II are expected to be far reaching and extensive across the enterprise, most certainly causing a flourish of activity within the actuarial and risk management departments, but what is the expected impact in the areas under the control of the CIO? My belief is that the answer to this question will be connected to the capital adequacy requirements of Solvency II.
Essentially there are two routes that an organisation can follow regarding capital adequacy models; these being use of a ‘standard mode’ or use of an ‘internal model’. The ‘standard model’ (as with most ‘one size fits all’ models) is inflexible in that it does not take into account diversification of portfolio or geographical spread, for example and consequently the capital adequacy requirements are breathtakingly high; so much so that they are arguably just not commercially viable. This leads to the second option, which is an ‘internal’ model. These need to be approved, but the upside is that they can take into account diversification and will lead to much more realistic capital adequacy numbers. The downside of these models is that they are voracious consumers of data, not just in terms of depth, there are quality considerations too. Now we begin to see where Solvency II starts to appear on the CIO’s agenda.
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Last Updated ( Wednesday, 03 March 2010 )
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Tuesday, 09 February 2010 |
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In these cash strapped times how can you retain and motivate good IT staff? Before I give my view, let me pose a question: What was the best IT job you ever had? (Hopefully, it's the job you have right now.) What made it the best job you ever had? I am going to go out on a limb here and say that the motivation incentives that made it such a great job were not based solely on your compensation or salary increases? You loved the IT jobs you undertook because they were meaningful and fulfilling, not just because you were highly paid.
One of the best IT job opportunities I ever had was when I was a young business analyst. My employer quickly learned that in addition to good analytical skills I had better-than-average customer relationship management abilities. After a relatively short time on the job, my employer promoted me to manage a number of clients and other analysts. This turned out to be one of the most difficult yet rewarding IT job opportunities in my career. I had to hone my IT management skills quickly. I had to motivate people and get a massive volume of design work done. I had to develop the softer skills I lacked all while being the lowest-paid person in the group.
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Last Updated ( Tuesday, 09 February 2010 )
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Tuesday, 26 January 2010 |
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What are the possible technology implications of New York Governor David A. Patterson's announcement regarding a planned New York Insurance Exchange modeled after Lloyd's of London?
With the governor's announcement still fresh in everyone's mind, it came as no surprise that the subject came up on Tuesday during a 2010 Property/Casualty Insurance Joint Industry Forum panel discussion that included Hank Watkins, president of Lloyd's North America.
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Last Updated ( Wednesday, 27 January 2010 )
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Tuesday, 26 January 2010 |
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“It’s not personal, it’s strictly business.” This phrase, and numerous variations on it, is not only among the three Godfather films’ many additions to our culture, it also is a guiding principle in the business world. I was reminded (again) of this truism when I learned that another CIO has left their position within a major London Market insurer.
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Last Updated ( Wednesday, 27 January 2010 )
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Tuesday, 22 December 2009 |
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The notion of using a service-oriented architecture (SOA) implementation to align internal software development with the needs of a changing business has attracted plenty of detractors in the decade or so since it was hailed as the new solution for IT and business alignment. The struggling economy, paradoxically, might be just the catalyst for giving SOA a serious look, according to experts who follow the field.
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