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Fifth Senior Executives Forum
Fifth Senior Executives Forum
Already established as a respected platform for Private Wealth insight, we are delighted to announce the fifth edition of the Senior Executives Forum on Intelligent Operations in Private Wealth.
Fifth Senior Executives Breakfast
Fifth Senior Executives Breakfast
Following up on the demand from our Senior Executives Forum on AI and Robotics, we are holding a breakfast discussion on how RPA can improve operational efficiency and help Insurance firms achieve scalability.
Synpulse and M.W.BERGEN BRYGGEN merge
Synpulse and M.W.BERGEN BRYGGEN merge
After TYSKE BRYGGEN Advisory und Implementation GmbH merged with Synpulse Deutschland GmbH (Management Consulting) in January 2018, the "sister company" - M.W.BERGEN BRYGGEN Management Consultants GmbH - is now bundling its range of services under the joint roof of the Synpulse Deutschland GmbH.
Fourth Senior Executives Breakfast
Fourth Senior Executives Breakfast
As part of a series of roundtable discussions for senior executives in wealth and asset management firms, Synpulse held its fourth successful breakfast discussion on Thursday 12th July 2018.
Third Senior Executives Breakfast
Third Senior Executives Breakfast
As part of a series of roundtable discussions for senior executives in the legal sector, Synpulse held its third successful breakfast discussion on Wednesday 11th July 2018.
Second Senior Executives Breakfast
Second Senior Executives Breakfast
As part of a series of roundtable discussions for private wealth management senior executives, Synpulse held its second breakfast panel discussion on Tuesday 10th July 2018.
Client Summer Event 2018
Client Summer Event 2018
Staying in touch with key business counterparts with a relaxing City rooftop experience
Senior Executives Breakfast
Senior Executives Breakfast
As a follow up to the Fourth Senior Executives Forum, Synpulse announced the launch of the Senior Executives Breakfast series.
Insights from the Fourth Senior Executives Forum
Insights from the Fourth Senior Executives Forum
Now in its fourth edition, the Senior Executives Forum (SEF) addressed the question: «AI & Robotics impact on Wealth & Asset Management: Nirvana or Apocalypse? » on the 22nd of March at the historic BarberSurgeons’ Hall in the City of London.
Synpulse Appoints André Burger as Partner and Elects Two New Managing Partners
Synpulse Appoints André Burger as Partner and Elects Two New Managing Partners
André Burger has been appointed partner of the international management consultancy Synpulse. Burger has been working for Synpulse for around ten years and has been a member of the Management Board of Synpulse Deutschland GmbH since 2015. Dr. Christoph Nützenadel, CEO of the Group, and Konrad Niggli, will join Raphael Jung as a Managing Partner - Nützenadel with immediate effect from Singapore. The personnel expansion of the partner team results from the continuing strong international growth of the management consultancy for financial service providers.
Synpulse UK: Growing Team Moves to a New London Office in the Heart of the City
Synpulse UK: Growing Team Moves to a New London Office in the Heart of the City
Synpulse UK, part of Synpulse Management Consulting, one of the leading consulting companies for financial service providers, has moved to a new office, at 20 St Dunstans Hill, London.

The Magazine

«The Magazine» is published four times per year with two issues in German and two English issues. It addresses the most significant current topics in the financial services sector and includes cutting-edge reports from our daily business in banking and insurance. Below you will find the complete collection of all our magazines.

We wish you a stimulating and enjoyable read!

Article

LIOBA: Digital Life Insurance Onboarding
LIOBA: Digital Life Insurance Onboarding
Growth lies in connecting with customers and engaging employees. LIOBA makes this simple. It transforms onboarding processes by integrating innovative software into existing systems, and laying the foundation for a scalable digital transformation.
Impact of Genomics on Insurers - Part 10
Impact of Genomics on Insurers - Part 10
Progress in genomics is creating opportunities and threats for health and life insurers. In our market study, we asked insurance experts how they assess the impact on claims.
How Banks Can Survive
How Banks Can Survive
Banking is being changed irrevocably as technology develops. To be able to survive, banks have to be more client-focused and technologically fit. And they have to get agile. In this series of three articles appearing at two-weekly intervals, we’ll be looking at the challenges and possible solutions.
Intelligent Operations
Intelligent Operations
AI and Robotics are an everyday reality, and here to stay. They are not the predicted ‘apocalypse’, but have not become the alternative ‘nirvana' yet. As we observe trends in the area and try to adapt strategies to the rapid technological innovation, we are reminded of the need for a single view of operations as an end-to-end concept, something that crosses functional boundaries and occurs anywhere and everywhere in the business. What are the trends and their impact on operations?
Blockchain for Trade Finance
Blockchain for Trade Finance
Trade finance with its manual, cumbersome and often expensive processes, provides a major field for adopting emerging distributed ledger technologies (DLT). Not surprisingly this has led to various market initiatives and consortia over the last years. Yet, an early adoption of any of these concepts presents substantial operational and financial risks for any party involved. Therefore, banks must decide on a suitable adoption strategy for DLT, first.
Millennial Workshop Cycle
Millennial Workshop Cycle
Despite the much-ballyhooed improvements in customer experience, the primary aim of digitalization projects at many banks is efficiency gains. This hasn’t escaped the notice of clients, who are increasingly demanding real customer-centricity.
Impact of Genomics on Insurers - Part 9
Impact of Genomics on Insurers - Part 9
Progress in genomics is creating opportunities and threats for medical underwriting in both health and life insurance. In our market study, we asked insurance experts how they assess the impact.
Design Principles for Digital Health Insurers
Design Principles for Digital Health Insurers
Health insurers worldwide find themselves challenged: society is aging, prevalence of diseases such as obesity, diabetes and other chronic conditions are increasing, the costs of health systems are exploding and social trends pose new and major challenges.. At the same time, developments in digital transformation, connectivity and artificial intelligence are advancing rapidly. This creates attractive opportunities for health insurers - and the prospect of a new key role.
Impact of Genomics on Insurers - Part 8
Impact of Genomics on Insurers - Part 8
Progress in genomics creates new opportunities for products and value-added services that life and health could offer to their customers: products explicitly covering diagnostics or treatment on the level of the genome, and services helping customers create maximum value out of their genetic or genomic data.
Impact of Genomics on Insurers - Part 7
Impact of Genomics on Insurers - Part 7
Genomics has made massive progress, and we can expect to see even more in the future. As discussed in our previous articles, this development has both opportunities and risks, not only for us individually, but also for the insurance industry. Synpulse surveyed insurance experts for their assessment of how genomics will impact their industry.
Emerging Risks
Emerging Risks
Emerging risks is not a new topic. This article introduces a model to evaluate the maturity level of emerging risks and recommend risk management strategies for for (re)insures.
​Cloud Technology for Insurers​ - Part 8
​Cloud Technology for Insurers​ - Part 8
When outsourcing IT infrastructure to the public cloud, insurers remain responsible for their compliance with all requirements under insurance supervisory law. One of these requirements is that they must have full rights to audit the cloud provider.
​Cloud Technology for Insurers​ - Part 7
​Cloud Technology for Insurers​ - Part 7
When outsourcing IT infrastructure to the public cloud, insurers remain responsible for their compliance with all requirements under insurance supervisory law. One of these requirements is that outsourcing must not lead to a disruption of services for existing policyholders.
Impact of Genomics on Insurers − Part 6
Impact of Genomics on Insurers − Part 6
The application of genetic testing and genetic editing to human embryos has far-reaching potential to impact society, and – in the long-term – also insurers.
Cloud Technology for Insurers - Part 6
Cloud Technology for Insurers - Part 6
In the previous article in our series, we discussed the data protection challenges that insurers need to consider when planning to migrate into the public cloud. In the present article, we start discussing the requirements imposed by EU insurance regulation.
Impact of Genomics on Insurers - Part 5
Impact of Genomics on Insurers - Part 5
Day by day, our understanding of how genetic variations influence health is growing. First therapies based on interventions at the level of individual genes are on the market and further ones will follow. How will this trend influence the insurance industry?
Implementing a pilot robot is simple…
Implementing a pilot robot is simple…
The RPA journey is full of challenges – some become apparent only when it’s too late. From IT to operating model, many factors determine the success of RPA in the medium to long term.
Cloud Technology for Insurers - Part 5
Cloud Technology for Insurers - Part 5
In the previous article of this series, we introduced the applicability of EU data protection law to the use of public cloud by insurance companies. In this article, we will discuss concrete challenges imposed by data protection law.
Impact of Genomics on Insurers - Part 4
Impact of Genomics on Insurers - Part 4
With the increasing ability to collect, store and interpret the unique genetic make-up of each individual, including their responsiveness to particular treatments, we can expect a shift from one-fits-all care towards personalized treatment regimes. Both care providers and insurers will be affected.
Impact of Genomics on Insurers - Part 3
Impact of Genomics on Insurers - Part 3
In previous articles we introduced some basic principles and explained the different methods of genetic testing. In this article we will focus on direct-to-consumer testing (DTC) – a quick and affordable approach to genetic testing which has led to much controversy in the last couple of years.
Why you should be Lean before your robots go GIGO
Why you should be Lean before your robots go GIGO
The idea of Lean is to maximize customer value while at the same time, minimizing waste. This leads to more customer value with less resources required.

Keeping our quality promise to clients
Keeping our quality promise to clients
Clients have come to expect Synpulse to deliver quality – it’s at the very heart of our brand promise. As we continue to grow and expand, we have to work even harder to keep delivering on this promise. How are we rising to the challenge?
Why banks fail to compete
Why banks fail to compete
It seems, banks have a particularly hard time to get their digital transformation programs up and running. No surprise their competitive strategies are seldom inspiring. Let’s have a closer look at the possible reasons.
Impact of Genomics on Insurers – Part 2
Impact of Genomics on Insurers – Part 2
Curious to learn about your prehistorical ancestor from a drop of saliva? Or find out which combination of genetic variations leads to hereditary heart defects? Both scenarios are now possible thanks to genetic testing. Behind the umbrella term «genetic testing» are a surprising number of different techniques and procedures, which in turn produce very different data. In the second article of our series highlighting the growing field of genomics, we delineate various types of genetic tests.
AI and Robotics for Wealth
AI and Robotics for Wealth
With the advent of data management and processing capabilities, the business applications of technology move from mere speed and efficiency towards areas where machines replicate - with increasing success – certain human actions and behaviours.
Why you should or shouldn’t attend your robots
Why you should or shouldn’t attend your robots
Not all robots are born equal! Selecting the right type, attended versus unattended, can greatly improve the success likelihood of the automation initiative.
The Myths about Digital Change
The Myths about Digital Change
Despite the vast use of the term «digital» its meaning is still unclear to many decisions makers in the corporate world. But it still has the power to scare them as it stands for the disruptive power of technology. Or is it just a myth?
Cloud Technology for Insurers - Part 4
Cloud Technology for Insurers - Part 4
In the previous articles of this series we learned about the basic concept of cloud computing, how the available cloud types differ from each other, and what the advantages are of using a cloud over traditional in-house datacenter solutions. In this and following articles we discuss the challenges of using cloud from the perspective of data protection.
PSD2 - Let the Games Begin
PSD2 - Let the Games Begin
Next month, the Payment Service Directive 2 (PSD2) by the European Commission enters into force. In addition, the European Commission and the European Banking Association (EBA) published the new Regulatory Technical Standards (RTS), which – after it has been approved by the European Parliament and the European Commission - has to be implemented by September 2019. How do the PSD2 and RTS impact a bank's product portfolio and where will they change the current rules of the game in the payments and cash management market?
Impact of Genomics on Insurers - Part 1
Impact of Genomics on Insurers - Part 1
Advances in genomics over the few last years have been astonishing, in terms of both genome analysis and gene manipulation and therapy. These developments look set to impact more or less the entire health and life insurance value chain in the years to come. This series of articles will discuss the implications from various perspectives.
Is Robotic Process Automation a friend or foe of BPM?
Is Robotic Process Automation a friend or foe of BPM?
Reduce IT integration costs and time-to-market of your Business Process Management (BPM) initiative by means of Robotic Process Automation (RPA)
Why AI-driven Insights are the new crown jewels of the Insurance Industry
Why AI-driven Insights are the new crown jewels of the Insurance Industry
Artificial Intelligence allows to structure unstructured data and unlock the potential of 99% hidden data. Especially, in customer interactions such as underwriting and claims a lot of unstructured information (e.g. submissions, claims audits) is hidden in documents such as pdfs or claims audits.
Stop Wasting Money on Digitalization
Stop Wasting Money on Digitalization
Most probably, you already know that managing digitalization effectively has become essential for a bank's competitiveness. But are you also fully aware of your strategic priorities? How can you be sure not to bet on the wrong horse – or app?
Boost your business
Boost your business
Managing innovation effectively has become an essential requirement for staying competitive in todays’ world. Increase your capability to generate customer value by implementing the idea and innovation management manifesto (SIIMM) developed by Synpulse.
Synpulse Hackathon
Synpulse Hackathon
First, Synpulse teams from around the world worked overtime by participating in our second global Hackathon. Second, Synpulse was one of the official sponsors at this year’s PolyHack 2017.
Cloud Technology for Insurers - Part 3
Cloud Technology for Insurers - Part 3
In the previous part of our article series we have provided an overview of the different deployment models and service models of the cloud. In this part, we will look at the many advantages cloud can offer over classical in-house datacenters.
Cloud Technology for Insurers - Part 2
Cloud Technology for Insurers - Part 2
In the first part of our article series we have introduced you to the origins and basic concept of cloud technology and why it is currently one of most discussed tech trends. In this part, we will explain the different types of cloud and their implications.
Cloud Technology for Insurers-Part 1
Cloud Technology for Insurers-Part 1
Cloud technology is on the rise and displaces classical in-house datacenters in various industries. Yet insurance companies are still rather hesitant with regards to this trend. This article series will discuss the different challenges related to the use of the cloud and how insurers can successfully tackle them to tap into the large potential of this technology.
Get Ready for Chatbots - Part 6
Get Ready for Chatbots - Part 6
So far, we have shown how chatbots enable businesses to revolutionize the way they interact with their customers. However, technology never stops advancing. In this last article of our series, we will catch a glimpse of what could become «The Next Big Thing» in B2C interaction. Chatbots provide a common basis for all these innovations.
Get Ready for Chatbots! - Part 5
Get Ready for Chatbots! - Part 5
In our previous articles we have learned that AI-based chatbots need training to become better at natural language processing. Hence, a well thought-through strategy is necessary to efficiently collect and label the required training data. Additionally, since chatbots are used for direct customer interaction, they need to be introduced properly. In the following, we will describe an approach that makes this possible.

Get Ready for Chatbots! - Part 4
Get Ready for Chatbots! - Part 4
In the previous parts of our article series we have shown the many benefits of modern AI-based chatbots. However, we often observe that insurers experimenting with chatbots only use a small fraction of the capabilities that modern chatbots can offer. In the following we will show what design guidelines insurers should consider such that they can tap the full potential of chatbots.
Get Ready for Chatbots - Part 3
Get Ready for Chatbots - Part 3
In our previous article we have discussed how insurers can use chatbot to fundamentally reshape and improve their customer interaction. In the following we will give you a short overview of the tech that makes this possible.
Get Ready for Chatbots - Part 2
Get Ready for Chatbots - Part 2
In the first part of our article series we have discussed the reasons why chatbots are one of most discussed tech trends today. In the following we will dive deeper into this topic and explain how chatbots can be used by insurers to fundamentally reshape and improve their customer interaction.
Get Ready for Chatbots - Part 1
Get Ready for Chatbots - Part 1
Chat is becoming more and more relevant as an interaction channel between customers and companies. Recent advances in artificial intelligence are enabling the development of powerful chatbots that can understand natural language. With little experience in this topic so far, the insurance industry is just becoming aware of the emerging opportunities.

Studies & White Papers

Synpulse regularly exchanges views with science and economy. This cooperation often results in interesting (case)studies, analyses, and market research reports, which are at your disposal for reading in the online archive below.

Open Banking – a threat or an opportunity for banks?
Open Banking – a threat or an opportunity for banks?
Open banking will lead to completely new forms of customer relationships and will enable the inclusion of third-party digital products. Obvious winners are customers and FinTechs - how can banks benefit from this?
BANKINABOX - How banks implement new operating models more efficiently
BANKINABOX® - How banks implement new operating models more efficiently
With an intelligent target operating model, a bank can quickly adapt its operational processes to a new business strategy. The bank reference model «BANKINABOX®» was developed by Synpulse specifically for the purpose of offering a comprehensive and efficient solution.

White Paper: Scaling the Wealth
White Paper: Scaling the Wealth
The private banking and wealth management industry in the UK is going through a significant change. Historically evolved into a diverse ecosystem of company types and sizes, it responds to external challenges with a marked drive towards scale. Acquisitions and mergers between firms in this space are arduous undertakings, but organic growth takes too long for the rapidly changing market conditions. The current fragmentation in the industry is not necessarily negative in itself, but too many and too small players can suffer with revenues lagging behind managed assets and often behind growing costs. This incentivises everyone into up-scaling mode, creating the observed exponential increase in M&A activities in the sector. In this paper, we try to examine the root causes, the responses of different players and the possible future outcomes of wealth management consolidation.
Payment Services Directive 2 and the Dissolution of the Primary Banking Relationship
Payment Services Directive 2 and the Dissolution of the Primary Banking Relationship
Banks are slowly losing the primary banking relationship to their clients. More and more non-banks and payment service provider are taking over market shares through innovation, competitive prices and high quality service.

Synpulse regularly exchanges views with science and economy. This cooperation often results in interesting (case)studies, analyses, and market research reports, which are at your disposal for reading in the online archive below.


Newsletter

Is Financial Advisory in Insurance a dying career?
Is Financial Advisory in Insurance a dying career?
Following the release of the white paper discussing the financial advisory process for insurance in Hong Kong and Singapore, Synpulse encountered several discussions surrounding the recruitment and retention of financial advisor representatives (FA reps).

The key question put forth was — how can the industry and/or insurer attract promising FA reps and retain them? This question is critical to answer...
External Asset Managers in Singapore and Hong Kong – addressing custodian banks’ challenges on EAM service offering
External Asset Managers in Singapore and Hong Kong – addressing custodian banks’ challenges on EAM service offering
The External Asset Manager (EAM) business model is said to be the future of wealth management in Singapore and Hong Kong. However, are custodian banks making enough improvements to provide optimal support for EAMs? Read on to learn how Synpulse proposes a holistic approach for both small and bigger custodian banks to invest into their operating models to leverage their EAM business.
Regulatory change management for investment suitability and beyond: A business differentiator
Regulatory change management for investment suitability and beyond: A business differentiator
Most global and local private banks in Asia are continuing to invest heavily in their operations in order to keep pace with the agility needed to service the growing market of Asian multi-millionaires. As digitally savvy and wealthy customers look out for more sophisticated engagement via online channels, banks also strive to find smarter ways to on-board these new channels and scale them across markets while being compliant.
Four Lessons from Customers on Advisory
Four Lessons from Customers on Advisory
While a lot of attention has been dedicated to the professionalism of advisors and digital journeys, the advisory journey is a poorly explored area in terms of customer engagement and market differentiation. Synpulse conducted an online survey with working professionals to test their reaction towards the advisory process. The outcome is summarized in four lessons where tangible ways to open up the value aperture in the advisory process are highlighted.
A Fair Buy
A Fair Buy
In collaboration with GoBear, Asia’s only free metasearch engine for financial and insurance products, we explore how fairness plays an important part of customer purchase journey and its effects.
The Psychology behind Attitudes & Behavior: Implications on the Customer Journey
The Psychology behind Attitudes & Behavior: Implications on the Customer Journey
Implications on the Customer Journey
In this newsletter, we explore how a customer journey could be aligned with the inner workings of the mind and behavior. A casual survey was conducted to see how one would respond to an unforeseen event in their lives. Read to find out more.
Front Digital, Back Manual - the digital banking pitfall?
Front Digital, Back Manual - the digital banking pitfall?
Asian banks have relied on traditional branch-banking, face-to-face business model for many decades. However, the availability of new technologies and recent emergence of competition from fintech companies have prompted banks to take a new look on the client relationship model. Riding on the digital transformation wave that is sweeping across the industry, many banks in Asia have started their own digital journeys.
How Has The Direct Digital Channel Fared?
How Has The Direct Digital Channel Fared?
The digital direct channel has by far been underdeveloped despite its huge potential in Singapore. In life insurance industry however, only a small percentage of all new business premiums were sold through direct channels. This is in spite of the market having a ready and sizeable demand for online distribution, as outlined in our previous article.
A Ready Market For Digital Distribution
A Ready Market For Digital Distribution
In the history of disruptive innovation, 2015 could be the turning point for the insurance industry. A Chinese online insurer was ranked first in a global FinTech list. An online insurance start-upfrom UK won an award for FinTech Innovation of the Year. Innovationlabs have been opened one after another in Singapore by insurers with deep pockets and pragmatic vision.
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