Despite the recent turmoil in financial markets, the financial and insurance services sector in the UK still accounts for around 10% of the country’s GDP and employs over 1 million people. Competition between leading international financial centres is fierce. As financial organisations worldwide compete for business, the ability to find and attract talent remains a key driver of success.
Insurance accounts for around quarter of the UK’s financial services sector in terms of both GDP and employment levels. The UK’s insurance services currently look after approximately 150 million policy holders for individuals and companies, worth almost £4 trillion. A number of new players, many of which are extensions of established brands, have seen the opportunities within this market and are entering this marketplace. At the same time, the trend towards outsourcing back office services shows no sign of abating, with the specialist companies who provide these services growing their client base. Both the new entrants to the insurance sector, and the providers of outsourced services have an urgent need for experienced individuals with specialist financial services experience, on an interim and permanent basis, to enable this growth.
The financial services industry is in the midst of major structural change to the regulatory landscape. Companies increasingly understand the importance of being proactive within this changing regulatory framework and as a consequence, regulatory issues are no longer left to technical specialists but are at the top of senior management’s agenda.
Technology is becoming ever more critical to success within financial services. The competitive advantage of financial institutions relies heavily on the capability of technology to implement business processes, manage risks and provide excellent customer service.
At Accede our IT Consultants have worked with some of the leading Insurance Companies and the Insurance Software House solutions. We would be please to work with brokers and Insurance Intermediaries as an Independant authority on all their IT challenges, enabling you to get the best of your IT and insures its paying you not haemorrhaging you profits.