200 European experts gathered to discuss innovations and challenges in wealth insurance and wealth management.
The Wealth Insurance Forum 2024, organized by WEALINS at the end of September in Luxembourg, brought together wealth management experts to debate the challenges and opportunities in the field of wealth insurance in Europe. This major event brought together professionals from ten European countries to discuss the challenges posed by the rapid evolution of the sector, in particular the use of capitalization contracts and life insurance contracts for cash management, as well as innovation and market trends in investment (private equity and ESG). Faced with an increasingly dynamic environment, where regulations and investor expectations are evolving, players in the asset-based life insurance sector are called upon to constantly adapt.
Economic and legislative challenges were at the heart of the discussions, in particular the impact of new regulations on the European market. Capitalization contracts, often used to manage the cash flow of companies and wealthy families, must now meet increasingly stringent transparency and compliance requirements. Participants discussed ways of continuing to offer attractive solutions within a complex regulatory framework.
One of the highlights was the reflection on investment strategies in an uncertain environment marked by market volatility. During the Forum, experts emphasized the importance of developing innovative products to meet the specific expectations of each customer. Thus, they highlighted the advantages of capitalization contracts and life insurance contracts, capable of meeting the needs of Luxembourg legal entities looking for optimized and secure long-term cash management.
.Innovation at the heart of discussions
Innovation took center stage at the Forum, with discussions focusing on the impact of digitization and artificial intelligence on the wealth insurance sector. These technologies are transforming the way in which the various stakeholders in the wealth insurance and wealth management ecosystem interact and collaborate, and where the real challenge lies in the ability to strike the right balance between the Human and the integration of new technological tools such as AI.
At a time when the sector is under heavy regulatory pressure, the question arises as to the use of new digital tools and services, in order to support companies in implementing all these regulations. Likewise for data management and reporting, it's a question of assessing opportunities for responsiveness and efficiency, as well as the ability to facilitate processes and data management through digitalization.
ESG: a criterion that has become essential
The role of integrating environmental, social and governance (ESG) criteria was another major theme of the Forum. Asset customers are increasingly attentive to the impact of their financial choices, and insurance companies must now integrate these concerns into their offerings. It is therefore necessary to innovate and offer products that combine a positive impact on society with long-term financial performance.
Several speakers, experts in ESG, thus exchanged during the Forum on the importance of ESG training and to what extent the finance and insurance sectors have a key role to play in our economy to foster the climate transition. Indeed, sustainable finance has unquestionably become a political priority for many stakeholders, who can be involved in the change if they develop a clear understanding of sustainability and are able to pass this on to their customers to facilitate their investment choices.
The future of the European single market
Another highlight of the Forum was the speech by Enrico Letta, former Italian Prime Minister, who shared his perspectives on the future of the European Union and the single market. Against a backdrop of increasing globalization and tightening financial regulations, the single market remains a key asset. In particular, Enrico Letta discussed his vision of the single market in the face of the growing risk of protectionism, as well as the crucial role that the finance and insurance sector can play in supporting the green and digital transition. He also shared with the audience his thoughts on building a resilient single market in the face of new international geopolitical tensions.
A long-term vision for WEALINS
WEALINS used the event to reaffirm its commitment to a long-term vision, focused on adaptability and flexibility. In an increasingly competitive environment, the company emphasizes the importance of supporting its partners and customers over the long term, by offering innovative, customized solutions capable of meeting new market challenges and expectations.
One of WEALINS key messages was the importance of maintaining an open dialogue with the various players in the wealth insurance and wealth management sector. Between technological innovations, regulatory requirements and ESG concerns, the sector must be responsive and constantly innovate to continue to meet new customer expectations. WEALINS, as a key player, is positioned at the forefront of these developments, putting forward innovative solutions and exclusive support and anticipating future transformations in a rapidly changing sector.
Supporting and anticipating the future
"Through this second edition of the Wealth Insurance Forum, WEALINS has sought to inspire and be as close as possible to the wealth aspirations of its partners (...) The support and excellence that WEALINS brings them remains a priority. To achieve this, we need to anticipate tomorrow's expectations, which requires a long-term vision and a capacity for constant innovation...", concludes Luc Rasschaert, CEO of WEALINS S.A.
This post was translated from the original French