Posts In Category

Resources

Definitions – Glossary – General Knowledge

Randstad’s WorkMonitor report for Q4 2019 was released in December 2019 with a look into work-life balance and the economic and financial outlook for 2020 and shows some interesting results. The survey covers trends across the globe in the mobility, job satisfaction, and motivation in 34 countries around the globe. Work-Life Balance Highlights of the report include the inevitability of technology creeping into our lives more and more: Workers

  Standard Setting Bodies and Professional Federations The European Commission: ec.europa.eu/internal_market/insurance/solvency/index_en.htm European Insurance and Occupational Pensions Authority (EIOPA): eueiopa.europa.eu National Association of Insurance Commissioners, USA (NAIC): content.naic.org/ International Association of Insurance Supervisors (IAIS): www.iaisweb.org The European Federation of (Re)Insurers: www.insuranceeurope.eu The European Federation of Risk Management Associations: www.ferma.eu The Association of Reinsurance Professionals in France: www.apref.org Regulators and Control Authorities Belgium: www.nbb.be France: acpr.banque-france.fr/lacpr.html Guernsey: www.gfsc.gg/ Ireland: www.centralbank.ie Italy:

MAXIS Global Benefits Network (MAXIS GBN) in November 2019 announced its selection of INTERVENT International as global provider of a suite of designated digital behavior change and population health management solutions. The partnership enhances Maxis GBN’s global solutions for the prevention and management of multiple chronic diseases, disability condition management, maternity care, and other drivers of health-related medical costs. As part of the collaboration, multinational employers working with MAXIS

The OECD in November 2019 released its annual Health at a Glance report for 2019. It provides the latest comparable data and trends on different aspects of the performance of health systems in OECD countries, while providing striking evidence of large variations across countries in indicators of health status and health risks, as well as in the inputs and outputs of health systems. Gains in longevity are stalling, with

Obesity-related diseases will claim more than 90 million lives in OECD countries in the next 30 years, with life expectancy reduced by nearly 3 years. Obesity and its related conditions also reduce GDP by 3.3% in OECD countries and exact a heavy toll on personal budgets, amounting to USD 360 per capita per year, according to a new OECD report published in November 2019. The OECD’s The Heavy Burden

The United Nations Conference on Trade and Development (UNCTAD) released its latest Global Investment Trend Monitor as of October 2019. Report highlights include: Global foreign direct investment (FDI) flows in the first half of 2019 were 24% higher than in the first half of 2018. However, the underlying FDI trend (removing the effects of one-off transactions and intra-firm financial flows, including repatriations driven by the 2017 US tax reforms)

Health expenditures will outpace GDP growth over the next 15 years in almost every OECD country, according to the OECD’s Health at a Glance 2019 report, published in November 2019. The OECD foresees that health spending per capita will grow at an average annual rate of 2.7% across OECD countries and will reach 10.2% of GDP by 2030, up from 8.8% in 2018. The report notes that the United

Published in November 2019, the OECD’s Pensions at a Glance 2019 report advises governments to urgently reform their pension systems to allow for the one-third of employees who are now in non-standard employment (self-employed, temporary or part-time employment) to have adequate retirement income. With women being three times more likely to be in part-time work, and the older workforce more likely to be self-employed, it has become a necessity: non-standard

A U.S. national survey conducted in September 2019 has been published by the Milbank Memorial Fund, and addresses the ‘culture of health’ (CoH) in private sector organisations. Authors Michael Anne Kyle, Lumumba Seegars, John M. Benson, Robert J. Blendon, Robert S. Huckman, Sara J. Singer measured corporate CoH along four dimensions that assess the extent to which businesses promote employee, environmental, consumer, and community health and well-being. Policy Points

Aetna report shows differing perceptions among employers and employees globally There is a major gulf between how employers view the health and wellness support offered and employees’ views of the support they receive. This could have a significant impact on productivity, according to research from Aetna International published in November 2019. The first of two Business of Health 2020 reports, Tackling polarised perceptions of corporate health and wellness, investigates

Does pay parity equal gender equality? New research commissioned by MAXIS Global Benefits Network (MAXIS GBN) and published in October 2019 reveals that two-thirds of global workers think men and women are in a position of gender equality if they are paid the same. The research involved employees in ten different countries including the UK, US, Germany, Japan and Australia. The United Nations, however, states that the issue goes

The Future of Work addresses megatrends transforming the labor market The 2019 edition of the OECD Employment Outlook released in October 2019 takes a look at new evidence of changes in job stability, underemployment, and the share of well-paid jobs globally, and discusses how policy creates implications with respect to how technology, globalization, population ageing, and other megatrends are transforming the labor market in OECD countries. The report discusses

Global immigration services firm Fragomen, Del Rey, Bernsen & Loewy (Fragomen) in October 2019 released the 2019 edition of its Worldwide Immigration Trends Report. Among the key takeaways of the report that covers Africa, Asia Pacific, Europe, Latin America, the Middle East and North America: Migration has fueled a resurgence of nationalist political movements and anti-immigration policies. Many countries will continue to struggle to develop the technology necessary to

Aon in August 2019 issued a white paper entitled Prevention is Better Than Cure, which addresses the growing awareness of employee wellbeing. The paper encourages employers to understand the business rationale behind employee wellbeing in order to help gain best outcomes. The Aon white paper shows that 95% of employers see a correlation between employee health and performance, and believe they have a role in trying to educate and

The Randstad Workmonitor Global Report has been released for Q3, 2019, revealing the latest local and global trends in mobility over time. The report shows data relating to migration, diversity, job satisfaction, and job change appetite, as well as personal motivation based on a rotating set of themed questions. Some highlights of the report include data that shows: 64% of respondents would consider emigrating if they can improve their

The Washington, D.C.-based National Bureau of Economic Research (NBER) in September 2019 published a working paper, The Impact of Brexit on UK Firms, authored by Nicholas Bloom, Philip Bunn, Scarlet Chen, Paul Mizen, Pawel Smietanka, and Gregory Thwaites. The authors identify three key results from a survey of UK firms, the Decision Maker Panel. According to the abstract of the 59-page article: “First, the UK’s decision to leave the

Global insurance premiums passed the USD 5 trillion mark for the first time in 2018, equivalent to more than 6% of world gross domestic product (GDP) according to the July 2019 issue of sigma, “World insurance: the great pivot east continues”, from Swiss Re Institute. This surge was based on solid growth in the non-life sector, especially in China and other emerging Asian countries, as well as in advanced

The United Nations Conference on Trade and Development (UNCTAD) in June 2019 released the 2019 World Investment Report, which analyses global and regional foreign direct investment trends and prospects. It also documents national and international investment policy developments. In its theme chapter, the 2019 Report provides the global landscape of special economic zones (SEZs) and offers a policy framework for addressing key emerging challenges. The report highlights: Global foreign

The Conference Board’s Consumer Confidence Index for the United States was released in June 2019, indicating a decline from the previous month of May. The Index now stands at 121.5 (1985=100), down from 131.3 in May. The Present Situation Index, based on consumers’ assessment of current business and labor market conditions, decreased from 170.7 to 162.6, while the Expectations Index, which is based on the short-term consumer outlook for income,

Institutional, legal and regulatory frameworks for corporate governance are the topics for the 2019 Corporate Governance Factbook, released in June 2019 by the OECD. The Factbook provides easily accessible and up-to-date information about the institutional, legal and regulatory frameworks for worldwide corporate governance, and complements the G20/OECD Principles of Corporate Governance. It is intended for use by governments, regulators, and the private sector to compare their own frameworks with

Rising medical costs and shifting health drivers fuel innovation in employer-sponsored health plans Medical costs continue to outpace general inflation by close to three times, with a global average 9.7% in 2018 with similar increases for 2019 and 2020, according to the Mercer Marsh Benefits (MMB) 2019 Medical Trends Around the World report, released in June 2019. A survey of 204 insurers across 59 countries, the report assesses how

A new report from MAXIS Global Benefits Network entitled, “In the changing world of employee benefits, does one size fit all?”, reveals that multinational businesses failing to offer more flexible employee benefits packages will struggle to attract and retain staff in an increasingly competitive market for talent. According to the report, the rise of flexible, tailored and personalized E.B. is due in part to the highly sophisticated options now

Aon and the American Benefits Council have released the Global Benefits Governance and Operations Study 2018/2019. The study queried over 200 multinational companies  ranging in size from over 100,000 to fewer than 10,000 employees, and asked global compensation and benefits leaders for their views on best practices in global benefits management. The survey also explored key issues such as what these organizations can do to improve the alignment of

Swiss Re in May 2019 released its latest SONAR report, in which they highlight emerging and “slow-burner” emerging risks and their potential effects on the re/insurance industry. Emerging risks are newly developing or evolving risks that are difficult to quantify, but potentially have a significant impact on the industry and society. Emerging trend spotlights examine early development, which may offer both opportunities and risks for the insurance industry in

Out of 25 OECD countries for which data are available, the United States, Canada, Sweden, Norway, Ireland, England, and Wales experienced a rise in the average of opioid-related deaths (ORD) of more than 20% from 2011-2016. These findings are highlighted in the May 2019 OECD release: Addressing Problematic Opioid Use in OECD Countries, which calls for governments to take urgent action to combat the rise of ORD. In Canada,

The OECD in May 2019 published its Economic Outlook, containing analysis and projections for its 36 member countries and other major economies. A summary of the Economic Outlook and key data is accessible at http://www.oecd.org/economy/economic-outlook/. A special chapter in the Outlook analyses the ongoing digital transformation of the economy and complementary effects on productivity, which is one of the key themes of the 2019 OECD Forum and Ministerial Council

The OECD in April 2019 released its 2019 edition of the OECD Employment Outlook, which presents new evidence on changes in job stability, underemployment and the share of well-paid jobs available. The report also discusses the policy implications of these changes with respect to how technology, globalization, population ageing, and other mega-trends are transforming the labor market in OECD countries. The report also focuses on how labor market regulation