We recently wrapped up the 29th TAI User Group. Over 200 life reinsurance professionals joined us in Chicago for an exciting line up of speakers, breakout sessions and activities that Empowered Action. This included insightful discussions from two reinsurers, an engaging InsurTech panel, educational break-out sessions, networking events and numerous opportunities to stimulate both “left” and “right” brain thinkers.
When it comes to administering a smaller life reinsurance business, many small to mid-sized insurers feel caught in a bind. It would be nice to use software to automate the business, but if you’re small it can seem costly to make the switch. Instead, they stick to homegrown manual systems, which can be clunky and prone to human error.
This FAQ will focus on answering questions on TAI Annuity. If you are attending the 2018 TAI User Group, be sure to sign up for Breakout #2 – How to Process Annuity Reinsurance with Ease on TAI. I will be providing a more detailed look at the system and Jacqueline Barrett, Director of Reinsurance Operations of LOGiQ³, will share her team’s experience during a TAI Annuity implementation.
The 2018 User Group is quickly approaching and one of the topics we’ll be discussing in a breakout session is what customers can expect during a TAI software upgrade. Before diving into that journey, let’s touch on why implementing TAI upgrades are important to your business in the first place.
Our latest installment of TAI FAQ regards TAI .NET's recent compatibility issues with Chrome. The bug that was causing the issues has now been resolved. If you use Chrome as your browser of choice for the TAI .NET application, you may have experienced compatibility issues. Chrome normally updates itself, but if you are still having problems, please visit Chrome's update page for instructions on manually updating.
Last week I had a chance to moderate a round table on Entrepreneurship and Innovation at the 2017 SOA Annual Meeting. It was a great session with a lot of alternative view points on the future of insurance. Topics of discussion ranged from the displacement of production and distribution to Amazon and Walmart, to regulatory understanding across different jurisdictions and why this complexity is a necessary reality, and more philosophical arguments around insurance’s role in society and whether we are optimizing these duties for the “jobs that need to be done”.
Disruption. It is something that the life insurance industry has been experiencing a lot of lately. And according to EY, the US life annuity insurance market will continue to be subject to disruption in the coming year, making it a competitive environment. Some of the disrupting factors influencing industry players to reassess their strategies include:
The September FAQ includes a combination of questions on TAI Mainframe vs. NET, general system questions, INSIGHTS and CONNECTOR.
This FAQ article was inspired by the questions we received at User Group 2017 and common ones I get from talking to reinsurance professionals about INSIGHTS and CONNECTOR. Continuing with the momentum from our summer newsletter in sharing resourceful content, I hope this article answers your questions on the latest additions to our software suite
Whether your organization is about to kick off a TAI upgrade or is planning for one in the next couple years, this FAQ blog will give you an overview of what to expect and how to prepare. A common misconception is that a TAI upgrade is a quick and simple process. Unlike most software, the TAI system is custom software tailored to your organization’s needs, and because of this, upgrades require additional effort for both TAI and your organization. Therefore upgrades are a short-term engagement that involves: