CAMS Business Intelligence presented at the MicroStrategy Summit

Technology and Business Intelligence have become integral to enabling growth in major industrial sectors in the country and the Indian Mutual Fund industry is no exception. Keeping In line with the rising interest in BI, US-based leading analytics technology platform MicroStrategy, recently organised an international MicroStrategy Symposia Series. The Symposia spread across the globe, served as a forum for experts to share industry insights and best practices.  Anuj Kumar – Chief Operating Officer, Asset Management Services, CAMS and N. Ramakrishnan – Chief Information Officer, CAMS represented the organisation and delivered the keynote address at the Bangalore edition of the symposia series. The event was attended by the crème de la crème of the Information Technology and Business Intelligence industry, including Michael J Saylor, CEO MicroStrategy.

BI services for the MF industry

Computer Age Management Services (CAMS), as a pioneering organization in technology based Mutual Fund investor & intermediary services space in India, had the scientific insight to envisage the business advantage of leveraging data trends in the Mutual Fund industry, early on.

Focused on building several layers of value over and above the core RTA service to bring about a unique value delivery model, CAMS instituted Business Intelligence services derived via Aggregated Data Repository, that compute and interpret valuable industry insights.

MFDEx CAMS data bureau services

MFDEx CAMS data bureau services, which tracks about 92 per cent of the MF industry, has been providing seamless services availed not only by CAMS serviced funds but also those served by competitors, setting new benchmarks for BI services in the MF industry.

Technically, MFDEx is the most comprehensive Data Bureau service designed to present rich, accurate Mutual Fund data in an intelligent structure using multi-dimensional parameterisation.

CAMS deploys MicroStrategy for BI services owing to the former’s good mobile capability and strong mobility strategy, transaction write back facility, outstanding visualization capability and good, flexible partner network.

CAMSsmart

Powered by MFDEx and MicroStrategy, CAMS has moved on to provide ‘CAMSsmart’ a customised BI service that transforms raw data into actionable insights. Some of the services provided by CAMSsmart include:

• • Business performance tracking
  • Sales Team performance monitoring, reporting, benchmarking
  • Incentive administration
  • Predictive Analytics; What-if scenarios
  • Sales forecasting

CAMS mfCRM⁺

mfCRM+ fundamentally a powerful mobility solution combining the power of CRM and Analytics, is yet another innovation from CAMS’ BI services suite. It has been implemented with 450+ users with a large AMC and soon to go-live with 2 mid-sized AMCs.

What next – the road ahead

With flourishing prospects for the MF industry, CAMS is now working towards next-gen BI services that are focused on cutting-edge technology offerings that are to benefit distributors, sales and selling strategies.

CAMSRep CEO speaks on future of life insurance distribution at the Businessworld Life Insurance Summit-2017

The Indian insurance sector is relatively underpenetrated, yet to reach its full potential. At present, the country makes up for a meager 1.5 per cent of the world’s total insurance premiums in spite of its teeming population.

While prevailing Government policies aim to take insurance penetration in the country to the next level with initiatives such as the campaign to digitize insurance policies, private Indian insurance players are also exploring various ways to engage and enroll the uninsured and the underinsured.

Creating a forum for discussion, BW Businessworld recently organized the BW Businessworld Life Insurance Summit 2017, on 26th April at Trident Mumbai, bringing together industry veterans, thought leaders and prominent officeholders from across the Indian Insurance sector.

Among the prime highlights of the summit was a panel discussion strategically titled “Into the Future of Life Insurance Distribution”.  Moderated by Dr. Anjana Grewal, Director – Centers of Excellence, MISB Bocconi – Bocconi India, the discussion saw panelists sharing their ideas and views on the role and impact of technology in approaching and optimizing the scope of life insurance distribution, on the requirement to ensure a healthy premium mix and the role of aggregators in the next phase of distribution.

In this line of discussion, Mr. SV Ramanan, CEO, CAMS Insurance Repository, highlighted the growing necessity to reinvent insurance in a digital avatar at all stages, from sales to claims.  He also reiterated how important it is in the digital world for back-end processes to keep pace with the sales process. If otherwise, it would be no different from running a BMW series 5 with an 800 engine, he observed.

“The role of IR is to enable the back end process in such a way that it can be handled in a seamless digital environment. This would ensure good customer experience”, he remarked.

The discussion panel also comprised

Mr. Alok Bhatnagar, CEO & Principal Officer, EasyPolicy

Mr. Mahavir Chopra, Director, CoverFox

Mr. Adit Parekh, Principal, Blume Ventures

Mr. Manik Nangia, Director & CDO, Max Life

Other eminent guests at the event included –

Mr. V. Manickam, Secretary, Life Insurance Council

Mr. Yashish Dahiya Co-Founder & CEO, PolicyBazaar

Mr. Ashish Vohra, CEO, Reliance Nippon Life Insurance

Mr. Rohit Kumar Sharma, Country Manager, Financial Services Sector, IBM

Mr. Sushobhan Sarker Director, National Insurance Academy (NIA)

Mr. Girish Malik, Director, Insurance Brokers Association of India

Mr. Vighnesh Shahane, CEO, IDBI Federal Life Insurance

Mr. Deepak Mittal, MD & CEO, Edelweiss Tokio Life

For further reading:
http://businessworld.in/article/BW-Businessworld-Life-Insurance-Summit-2017-Digital-Adaptation-Tremendously-Reduces-Insurance-Servicing-Costs-/26-04-2017-117058/

About CAMSRep

CAMS Insurance Repository Services Ltd (CAMSRep), a subsidiary of CAMS, is one of the major Insurance Repositories in India Licensed by Insurance Regulatory and Development Authority of India (IRDAI). CAMSRep, as an Insurance Repository opens unique eInsurance Accounts (eIA) for policy holders,which in essence are convenient, safe and relatively risk-free electronic policies. CAMSRep also acts as a single point of service for all ePolicies held by a policy holder. Apart from repository services, CAMSRep also provides outsourcing services to multiple Insurance Companies in accordance with IRDAI regulations.

The Big Switch – Transferring from EPF to NPS

As a Government nominated Point of Presence (PoP), we are pleased to announce that CAMS is pioneering the movement of individuals switching from the EPF to the NPS system in India. While this switchover is imminent, here’s what you need to know about the change.

Technology in the hands of Individuals

In March 2015, during the new Government’s first budget presentation, Finance Minister Arun Jaitley revealed the idea to implement a centralised pension plan, also known as the NPS or the National Pension System in lieu of the ongoing Employee Provident Fund (EPF). It promised to be a simpler, more transparent, portable and regulated system than the current one, while its supervision would be undertaken by the Pension Fund Regulatory and Development Authority (PFRDA). This move highlighted the need for the working class to make this switch in order to facilitate a better and more organised growth graph for the pension market.

The current Employee Provident Fund option is a scheme that is provided to all salaried individuals in the country. It means that when you start working, you and your employer both contribute 12% of the basic salary (plus dearness allowances, if any) into your EPF account. The entire contribution goes into this account along with 3.67% (out of 12%) from your employer, while the remaining 8.33% from your employer is diverted into your EPS (Employee’s Pension Scheme).
For example, if minimum pay for an employee is above INR 6500 per month, the employer can only contribute 8.33% of INR 6500 (INR 541) to their EPS and the balance goes into the EPF account.

With NPS on the other hand, a portion of an employee’s salary is accumulated in an individual pension account called PRAN (Permanent Retirement Account Number) using points of presence, a central recordkeeping agency, and pension funds as specified in Government norms. A PRAN number is unique to each individual and remains with them throughout their life. NPS accounts are structured into 2 tiers, namely:
Tier-I Accounts: These are non-withdrawable where any contributions made are deposited and invested according to the scheme the subscriber opts for.
Tier-II Accounts:  A voluntary withdrawable account, which is allowed on the basis of a Tier I account already existing in the name of the individual. Withdrawals can be made as per the needs of or claims made by the subscriber.

Monthly contribution to the EPF is mandatory, whereas NPS provides employees with an option to opt out of the contribution clause.This leaves them with more disposable income at the end of each month. While both schemes are aimed at provision of retirement benefits to every employee, NPS offers a more convenient and tax benefiting option to the subscriber than EPF. It is also advisable to keep in mind that, once this switch is made, the NPS system allows an individual to shift back to the EPF plan only once, and without the availability of the perks attached to either scheme.

Computer Age Management Services (CAMS) is India’s premier Mutual Fund Transfer Agency serving over 62% of assets of the industry across 16 Mutual Funds. As of today, we accept service requests 6 days a week across all our platforms for individuals opting to make this switch.

The ETF story in India

Exchange Trade Funds (ETFs) have become very popular among international investors especially since the recession in 2008. In 2007 there were 1,171 ETFs worldwide and the number increased to 4,396 by 2015. The ETF market is now expected to reach $7 trillion by 2021. However, it is believed that this growth is reflective of a bigger trend in world market – an appetite for investment in passive funds. While international investors have invested highly in ETFs, the market in India is not too far behind either. Before we take a look at ETFs in India, let’s take a closer look at ETFs in general.

What are ETFs?

Exchange Traded Funds (ETFs) are index funds that are listed and traded on the stock market exchange. Index funds could not be traded on the stock market before the introduction of ETFs. An ETF is a collection of stocks designed to resemble the composition of an index like CNX, S&P, NIFTY or BSE. Much like stocks and shares, ETFs experience price changes throughout the day as they are bought and sold. These funds have introduced individual and retail investors to an array of investment opportunities globally. ETFs give investors real time exposure to stock markets in different parts of the world at a lower cost.

The first ETFs

The first time anyone tried investing in an ETF was when the Index Participation Shares were launched for S&P 500 in 1989 in the US, also known as Standard & Poor’s Depositary Receipts (SPDRs). The market has only grown since. According to Morgan Stanley, by the end of 2007 there were 1,171 ETFs trading worldwide with assets roughly worth $800 billion. About 60% of trading volumes on the American Stock Exchange is from ETFs.

ETFs in India

India got its first equity ETF in 2001 when Benchmark Mutual Fund was acquired by Goldman Sachs in 2011, launching the Nifty ETS Fund (ETS is short for Exchange Traded Scheme). The ETF industry has grown since. Indian markets saw an inflow of $2.5 billion in 2014 and $4.3 billion in 2015. The segment also saw net outflows of $2.5 billion in 2016

A divestment target of INR 72,500 crore has been set in this year’s Union Budget. The Finance Minister said that ETF will continue to be a preferred vehicle for this process. He was quoted saying, “A new ETF with diversified CPSE stocks and other government holdings will be launched in 2017-18.” An increase in ease of access and the possibility of trading being facilitated through asset management companies (AMCs) will continue to drive their growth in the country. ETFs comprised of diversified CPSE stocks would be popular with new retail investors if such investors could be served by the Asset Management Companies instead of compulsory demat accounts. Mutual funds are a great benchmark in this regard. Mutual funds service investors who don’t use demat accounts but transact via stock exchange platforms used by both trading members as well as limited purpose members.

Over the years, mutual funds have also established a strong investor servicing infrastructure with extensive linkages to stock exchanges, Settlement Corporation and brokers operating on stock exchange platforms, allowing them to service investors who don’t use demat accounts. Such a model would make ETFs popular with small retail investors. Furthermore, the possibility of trading being facilitated through asset management companies (AMCs) will continue to drive their growth in the country.

About CAMS:

Computer Age Management Services (CAMS) is India’s premier Mutual Fund Transfer Agency serving over 62% of assets of the industry across 16 Mutual Funds. Leveraging superior technology, CAMS brings several innovative services to Mutual Fund investors and distributors. CAMS is also a service partner to leading Insurance Companies, Banks, NBFCs and Alternate Investment Funds. To know more visit http://www.camsonline.com

CAMS is the Technology Partner at the 10th Annual ICC Mutual Fund Summit

Demonetisation has impacted and boosted cash inflows into banks. In the last five months, the strong inflow of funds has positively impacted the equity market via investments in mutual fund, catapulting net buying of equity by mutual funds over the 25,000 crore mark. According to data from AMFI, the AUM of the Indian Mutual Fund industry had reached Rs 17.4 trillion mark in January, recording a year-on-year growth of 36.4 per cent.

It is in this context that the 10^th Annual ICC Mutual Fund Summit, organized by the Indian Chamber of Commerce, on February 18, 2017 at Kolkata, brought under one roof industry veterans, renowned experts, key officials and thought leaders from across the Indian Mutual Fund domain. Themed “Unearthing the potential for progress,” the event saw high-energy discussions pertaining to strategies for inducing further penetration and growth in the MF industry.

Mr. Piyoosh Gupta, Chief General Manager, SEBI, the Chief Guest of the event, spoke on the need to boost investment activity in 12-odd states located in the eastern region of the country and on why MF industry should focus more on the B15 cities as against the metros.

A prime highlight of the summit was a panel discussion on “Conquering barriers through business innovation”. The discussion saw panelists cerebrate upon the relevance of digital engagement as an essential differentiator and a business enabler in current times, and the need to leverage analytics to derive insights into pro-active investor acquisition and engagement. They also cogitated on the need to develop physical and online versions of alternative distribution channels to accelerate Mutual Fund participation. Training and development in the advisory domain pertaining to the country’s wealth management industry were another key topics of discussion.

Special guest and panelist, Mr. N K Prasad – President and CEO, CAMS, highlighted how CAMS – leverages digital technology towards transforming and reinventing the overall investing experience, by implementing consistently pioneering technology innovations for mutual fund investors and distributors such as Investor Mailback statements for portfolio view and funds net for distributors. The discussion panel also comprised

Mr. Milind Barve, MD, HDFC Asset Management Co. Ltd.,

Mr. Sanjay Sapre, President, Franklin Templeton Asset Management (India) Pvt. Ltd.

Mr. Ashutosh Bishnoi, CEO, Mahindra Asset Management Co. Pvt. Ltd.

Mr. Himanshu Vyapak, Deputy CEO, Reliance Nippon Life Asset Management Ltd.

Mr. Hemant Jhajhria, Partner, Financial Services – Strategy & Digital, PwC India

Mr. Arun Laddha, Director, J.R Laddha Financial Services Pvt. Ltd.

Other eminent guests at the event included –

Mr. Anil Chopra, Director and CEO, Bajaj Capital Ltd.

Mr. Aniruddha Chaudhuri, Zonal Head – North South and East, ICICI Prudential Asset Management Co. Ltd.

Mr. Ashish Agrawal, Director – JR Laddha Financial Services Pvt. Ltd.

Mr. Deepak Mehta, Sr. VP & Head – SIP, Balanced Products & Retail Banking Channel, UTI Asset Management Co. Ltd.

Mr. Dhirendra Kumar, Founder and CEO, Value Research India Pvt. Ltd.

Mr. Joydeep K. Roy, Partner, Insurance & Allied Businesses, PwC India

Mr. Neeraj Kulsreshtha, COO, BSE Ltd.

Mr. Prashant Vagal, Sr. VP & Head – Business Development & Products, NSDL

Mr. Sanjeev Chakraborty, President ICAA

Mr. Suresh Soni, CEO, DHFL Asset Managers Pvt Ltd.

About CAMS:

Computer Age Management Services (CAMS) is India’s premier Mutual Fund Transfer Agency serving over 62% of assets of the industry across 15 Mutual Funds. Leveraging superior technology, CAMS brings several innovative services to Mutual Fund investors and distributors. CAMS is also a service partner to leading Insurance Companies, Banks, NBFCs and Alternate Investment Funds. To know more visit http://www.camsonline.com.

ICICI Prudential Life honours CAMSRep associate with TATVA award

The last few years have witnessed the insurance sector in India undergo a phase of robust growth, transforming the industry into a dynamic arena where the race is perpetually on, and the rules are constantly evolving.

CAMS Insurance Repository Services Ltd (CAMSRep), one of the first to offer services and solutions in the e-insurance domain in the country, has perfectly kept in pace with the changing trends by constantly reinventing and upgrading its workflow and process efficiency dynamics. A fully owned subsidiary of CAMS and a licensed insurance repository approved by the IRDAI, CAMSRep has been consistent in developing and delivering solutions and services that match client requirements and surpass end-consumer expectations. 

CAMSRep as a provider of outsourcing services to the biggest and most reputed insurance companies in India, delivers to its clientele the dual advantage of outsourcing viz. specialization in policy holder services and cost benefits. As a non-aligned entity with no conflict of interest with insurers or brokers/ agents, CAMSRep has no channel partners with conflicting businesses, warranting a high degree of data confidentiality. 

Recently, in acknowledgement of this commitment of the organization to deliver only the best in terms of service and process excellence, ICICI Prudential Life, one of India’s leading life insurance companies had conferred the the prestigious TATVA award upon Mr. V. Raja, Team Lead – Payout Processing, CAMS Insurance Repository Services Limited.

It is noteworthy that CAMSRep has been the recipient of many such awards in the past, including the likes of the prestigious Celent & Asia Insurance Technology Award (2015) in acknowledgement of its world class service excellence and technology leadership.

What sets CAMSRep apart from competition is that:

• CAMSRep is a neutral entity without any conflict of interest with Insurers or Brokers/ Agents.
• CAMSRep has no channel partners with conflicting businesses. Hence, confidentiality of customer data is guaranteed.
• No CAMSRep service point is too far away. The organization has in place a unique service delivery model that has a foot print of more than 265 locations across India.
• The electronic repository services offered by CAMSRep makes it convenient for policy holders to get service on demand anywhere.

CAMSRep : Empathy behind envisaging and implementing points of presence across the country

Keeping in mind that there are still large areas of the country where digital reach has not been realized, CAMSRep, through its centers in over 270 locations across India, acts as a point of presence for policy holders on behalf of insurance companies; these centers facilitate the processes of  e-insurance account services as per  policy owner service requests.

A solid service delivery model with a foot print of more than 265 locations across India, has ensured that no CAMSRep service point is too far, ever. Being one of the first to envision and launch Insurance Repositories, at CAMSRep, we understand the insurance business like no other, backed  by our deep expertise and vast experience.  For more information on our services, visit us at https://www.camsrepository.com

About CAMSRep

CAMS Insurance Repository Services Ltd (CAMSRep), a subsidiary ofCAMS, is one of the major Insurance Repositories in India Licensed by Insurance Regulatory and Development Authority of India (IRDAI). CAMSRep, as an Insurance Repository opens unique eInsurance Accounts (eIA) for policy holders,which in essence are convenient, safe and relatively risk-free electronic policies. CAMSRep also acts as a single point of service for all ePolicies held by a policy holder. Apart from repository services, CAMSRep also provides outsourcing services to multiple Insurance Companies in accordance with IRDAI regulations.

CAMS officials participate in Birla Sun Life Mutual Fund’s Investment Conclave at Bengaluru

Birla Sun Life Mutual Fund recently organised an exclusive Investment Conclave for Corporate Investors at The Lalit Ashok, Bengaluru. Building upon the success of the previous conclave, held in Mumbai,with the same agenda, the institution brought the event to Bengaluru on January 6, 2017.

Among the prestigious invitees to the exclusive event were top level executives representing Computer Age Management Services, popularly known as CAMS.The Investment Conclave, keeping in tide with the times, was aptly themed “India in the post-demonetisation era”. The occasion saw the coming together of a diverse set of thought leaders and corporate executives, that rendered the evening abuzz with insights on the impact of demonetisation with a special emphasis on the Indian mutual fund industry.

Speakers at the event included officials from the top tiers of Birla Sun Life Mutual fund and CAMS, including:

Mr. Maneesh Dangi, CO – CIO Fixed Income – Equity, Birla Sun Life Mutual fund

Mr. Bhavdeep Bhatt, Head, Institutional Sales, Birla Sun Life Mutual fund

Mr. V Srinivasan, Senior Vice President – Mutual Fund Operations, CAMS

Mr. Tilak Raj Khanna, Asst. General Manager – Distributor Services, CAMS

Mr. Y S Ramesh Raju, RM-South, CAMS

Mr. Shaji Varghese, Branch Head, Bengaluru, CAMS

Mr. P Sasidhar Raju, Sr.DSE – Distributor Services, CAMS

CAMS GoCORP, a unique solution designed to meet the investment needs of corporate investors, was was discussed in detail at the event with the panel highlghting the,  many advantages of the product.

CAMS GoCORP

GoCORP is a digital solution designed to empower institutional investors with the freedom to transact across multiple mutual funds serviced by CAMS through a single portal. Launched in July 2015, CAMS GoCORP has seen a steady enrollment from both large and mid-sized corporate houses across India.

The GoCORP portal allows corporate investors to transact across all participating CAMS serviced funds using single login facilities to enable multiple maker and authorizer combination as approved by the board. GoCORP also addresses compliance & audit needs of corporate investors. To know more about the Transaction features, Reports/Transaction tracking and other conveniences that come with GoCorp, please click here.

About CAMS:

Computer Age Management Services (CAMS) is India’s premier Mutual Fund Transfer Agency serving over 62% of assets of the industry across 15 Mutual Funds. Leveraging superior technology, CAMS brings several innovative services to Mutual Fund investors and distributors. CAMS is also a service partner to leading Insurance Companies, Banks, NBFCs and Alternate Investment Funds. To know more visit www.camsonline.com