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7th Floor, RSU Tower 571 Sukhumvit Road, North Klongton, Wattana
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80 Lamberton Road
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1114 Avenue of the Americas 33rd Floor
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5990 Greenwood Plaza Boulevard
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1212 Corporate Drive Suite 450
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855 West 300 North
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4 Times Square
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40 Wall Street
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23 Orchard Road
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860 West 300 North
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1 South Road
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La Touche House Custom House Dock
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1800 McGill College Avenue Suite 2810
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5th Floor, Building 16 Interface, New Link Road
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39 Robinson Road #18-02 Robinson Point
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15 Castlereagh Street Level 15
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Hibiya Central Building 14th Floor 1-2-9 Nishi Shimbashi
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508 Riverbend Drive, Suite 303
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5255 Orbitor Drive
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L4, 549 St Kilda Road
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27th Floor Prudential Tower 30 Cecil Street
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Level 40 264 George Street
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1 Changi Business Park Central 1 #02-110/111 [email protected] City
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The Entertainment Building 31st Floor Suite 3118-20 Queens Rd
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Naritaweg 215
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3 Burlington Woods Drive
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110 North Fulton Avenue
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9000 Southside Boulevard Building 400, Suite 300
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145 Huguenot St
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75 Glen Road
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107 Kifisias Ave & Panormou
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P.O. Box HM 3348 12 Church Street and 30 Queen Street
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7370 Sierra Morena Boulevard SW
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Østergade 3-5
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412 Level 4 Gate Village 10, DIFC
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Sampoerna Strategic Square South Tower, 18th Floor Jl. Jend. Sudirman kav 45-46
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127-133 Charing Cross Road
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Unit 2, 2nd Floor Office Level, Building 3 Mindspace, Thane Belapur Road, Airoli
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Kristian Augusts gate 12
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Kungsgatan 57 A
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330 Bay Street
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SS&C Technologies, Inc. - Toronto Office

161 Bay Street
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8th Floor, Building 11 Interface, New Link Road
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Bahnhofstrasse 100
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5200 Upper Metro Place 3rd Floor
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3601 West 76th Street, Suite 450
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4860 Cox Road, Suite 200
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8401 Greensboro Drive
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310 East 500 South
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Salt Lake City, UT Office

5 South 500 West
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Salt Lake City, UT Office

50 West Broadway
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5 Reid Street
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Downshire Way
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Tudor House Le Bordage
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Private Limited Plot No. 187 Udyog Vihar, Phase 1
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The Le Gallais Building - 2nd Floor 54 Bath Street
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12 Sherborne Road
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Plot No. 38-E-1, 39-E-1, & 39-F-1 Block 6
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Level 4 549 St. Kilda Road
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DST House St Mark's Hill
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Telephone

860-298-4653

Contact

Lese Amato
[email protected]
Back to all SS&C announcements

Insurers Double IT Budget as Complex Asset Class Investing Gains Greater Acceptance, SS&C Survey Finds

Risk and Operational Management of Complex Asset Classes Competitive Edge for Insurers

SS&C Technologies Holdings, Inc. (Nasdaq: SSNC), a global provider of financial services software and software-enabled services, today reported the results from its survey conducted at the 2015 IASA conference last week. The survey found complex asset class investing gains greater acceptance among insurers and the ability to efficiently manage its risk and operation is pinpointed as a competitive advantage for the majority of insurers (73 percent).

Investing in complex or non-traditional asset classes, such as syndicated bank loans, derivatives, private equity and hedge funds, etc., is a strategy to help maximize portfolio returns in a sustained period of record low interest rates and yields. As a result, mounting asset complexity can also increase a firm's operational costs. According to the survey, more than three quarters of insurers (78 percent) think their organization is spending up to $20 million on adopting technology infrastructure and staffing to address reporting of complex asset class investments. Additionally, nearly half think that their company's current budget for internal technology operations and infrastructure has doubled versus three years ago.

"The quest to maximize yield leads insurers to invest in more complex asset classes. This can pose challenges for an organization's operations, accounting, and technology teams," said Timothy Reilly, Senior Vice President, Institutional Investment Management,  SS&C Technologies. "Leveraging cloud-based accounting and reporting services in support of complex assets is quickly becoming a competitive advantage for insurers, especially in this rapidly changing regulatory environment."

When asked about the impact that the changing regulations and reporting requirements have on their firm as it relates to complex asset class investments, 46 percent of insurers said their ability to turnaround accounting reports has been affected, while 28 percent said they've needed to increase staffing to support reporting needs and 26 percent have increased their training budget to ensure their staff is up-to-date with the latest regulations.

Following up on the reporting requirement question, nearly half (42 percent) of insurers acknowledged that their staff spends up to 15 more hours than last year on generating reports of complex asset class investments. Additionally, 82 percent of insurers agreed that their risk management practice would be "somewhat" to "a lot-more" effective if their organization had more up-to-the-minute web-based data analysis and reporting.

Looking forward to the next three years, insurers are evenly expecting data security and the integration of front-middle-back office to consume the most significant portion of their organization's resources due to the rapidly changing regulatory requirements. Data latency issues and scalability are also cited as technology challenges that will face insurers over the next three years, but at a lower priority.

Methodology

The survey was conducted via in-person interviews held at the 2015 IASA Annual Conference in Las Vegas from June 8-9. The sample includes 120 insurance executives in both life & health and property & casualty insurance, who attended the conference.