June 2011

Spotlight 

In international business, almost every market around the world does things in a different way. This often leads to misunderstandings and unfulfilled expectations. However, different does not need to mean difficult and knowledge of the needs and characteristics of specific geographic markets is an advantage to those who are active in the global economy. These articles help you understand different aspects of the insurance industry around the world, enabling those who do business there to feel more “at home, abroad.”

Besides the many well known insurance magazines who are members of the PIA, there are forums for well informed debate and research on the future of the financial services sector with special reference to insurance. Such an organisation is the Centre for the Study of Financial Innovation (CSFI www.csfi.org), an officially registered educational charity based in the City of London. For more than a decade the CSFI has been able to foster debate free from political prejudice which provides in-depth analysis and thought-provoking comment. With the support from their sponsors, CSFI produces the Banana Skin series of surveys and this year they have already looked at “Microfinance” and “Africa – beyond microfinance.” Now, they have published one surveying the risks facing the insurance industry and it will be a surprise to no-one that regulation and compliance top the list of challenges over the next few years. For a taster, please go to http://www.csfi.org/index.php?page=shop.product_details&flypage=flypage.tpl&option=com_virtuemart&product_id=82 which provides a lead into this study. There is a small price to be able to access the complete publication and we recommend this wholeheartedly. We are grateful to American Appraisal (www.american-appraisal.co.uk) for the introduction to this think tank and any questions should be directed to Ms Sophie Robson at sophie@csfi.org or telephone +44 (0)20 7493 0173