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.

Weekly Roundup – January 14

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CAMS brings you a weekly glimpse at the key happenings in the BFSI sector, in India and abroad. Regulatory updates or important news, here are some which might have had an impact on the sector.

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According to most recent World Bank reports, rapid economic progress is on the cards for the Asian countries of India, Cambodia, Laos and Myanmar.

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GST council to hold ninth meeting on Monday, January 16, to discuss and settle down on differences persisting over certain key issues.

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Government of India affirms of its respect for the autonomy and independence of the central bank of India, in a recent statement released by the Finance ministry of India.

RBI

Institute for Development and Research in Banking Technology (IDRBT), the research wing of RBI, explores the workings behind deployment of blockchain technology in banking in India.

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In a strategic move that seeks to boost the municipal bonds market, SEBI allows municipalities with surplus in their books to issue bonds dubbed ‘muni bonds’.

International Advisory Board recommends study of fee-based model for robo-based investment advisory to SEBI.

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Mutual funds can now be promoted through celebrity endorsements, says SEBI. Industry participants believe that the move will serve to boost penetration of mutual funds in the country.

Sources confirm that 2016 saw the highest number of demat accounts opened since 2008; increased investor awareness and rise in demand for mutual fund products cited as factors for the increased level of participation.

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In the wake of an evolving insurance market ecosystem, IRDAI institutes panel to review norms pertaining to life insurance products.

About CAMS:

CAMS Logo High Resolution

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

CAMS CEO participates at CII Mutual Fund Roundtable 2016

We are witnessing a major turning point in the Indian history that is marked with significant regulatory breakthroughs that are significantly redefining the way BFSI domain operates in the country. Recent months bear testimony to the undeniable fact that mutual funds are on the rise as a prime destination for Indian investors, with special emphasis on growing participation from the B15 cities.

It is at such a significant juncture that the Confederation of Indian Industry (CII) organized CII Mutual Fund Roundtable 2016 on Tuesday, 20 December 2016 at Mumbai.  The event saw the coming together of industry veterans, thought leaders and prominent officeholders from across BFSI sector.

Conceived to address significant topics for the asset management industry, the event saw CAMS CEO and President, Mr. NK Prasad, speaking on the many possibilities that lie ahead for investments in mutual funds.

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Elaborating on how the mutual fund industry has evolved over the years to arrive at where it stands now and on the many innovations that have emerged with the advent of smart digitalisation techniques. Mr. Prasad explained the current trends that are driving the industry that is thriving at this point. He also projected future possibilities and opportunities that will play a significant role in taking retail investor participation to a higher level.

The bigger picture

It is evident that investors from small towns are now sensitized to the importance and benefits of Wealth Management. They constantly seek constructive avenues to deploy their money usually through the likes of retirement plans or plans for their children’s education. With growing awareness on Mutual funds and how the schemes offer products to meet the diverse needs of the meticulously careful Indian savers, participation from B15 investors are expected to go up in the Mutual fund space.

It is noteworthy that CAMS as a pioneer in several paper-based and digital initiatives that support participation of investors in mutual funds, have also served to facilitate and encourage mutual fund investments from the B15 cities.

About CAMS:

CAMS Logo High Resolution

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

 

CAMSRep organizes exclusive event for User group

The CAMS group of companies have always prided themselves on developing solutions and services that match customer expectations and user suggestions. Interactive sessions that bring together the various perspectives of users and their expectations play a crucial role in such developments that continue to serve the organizations’ zeal for sustained innovation.

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CAMSRep CEO, Mr. S. V. Ramanan, seen moderating a high energy discussion at the CRUG event.

In keeping with this spirit of robust user engagement, CAMSRep, one of the major insurance repositories in India, hosted its first ever CAMSRep User Group event on the 8th December 2016 at Chennai.

The event themed ‘Ideate, innovate and implement’, was attended by key officials from leading organizations in the Indian insurance sector, representing –

    • Bajaj Allianz Life Insurance
    • Birla Sun life
    • HDFC Life Insurance
    • ICICI Prudential Life
    • Kotak Life
    • SBI Life

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Moderated by the energetic Mr.S .V Ramanan,CEO, CAMSRep, the session was an engaging event that brought to the fore some of the key issues of prevalence in the Indian insurance industry.

Discussions at the event focused on the role of insurance repositories into reaching out to potential consumers in the under-penetrated Indian market. Besides touching upon a joint representation to be presented to the IRDAI, the delegates discussed on the ways to approach and address the issues concerning unclaimed policies.

The distinguished guests also contemplated over the need to render insurance repositories mandatory.

About CAMSRep

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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.

CAMSRep CEO reiterates the growing relevance of digital insurance at the Economic Times Insurance Summit – 2016

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The last few years have witnessed the Insurance sector in India undergoing a dynamic phase of transformative growth, with IRDAI introducing several developmental reforms such as those concerning e-insurance. The stage has arrived, where the growing relevance of the Insurance industry to the economic growth of the country could not be understated anymore.

In such relevant times, the Economic Times group’s ET Edge had organized the dynamic 3rd annual edition of the Economic Times Insurance Summit, on 9th December 2016 at 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 strategically themed panel discussion titled “InsurTech: The fusion of Insurance & Technology, road to Innovation”. The panelists brought forth their thoughts, ideas and perceptions on the role and impact of technology in redefining the insurance landscape in terms of profit, acquisition and progress.

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In this line of discussion, Mr. Ramanan, CEO, CAMSRep highlighted how pertinent, right from sales to claims, it has been to have reinvented insurance in a digital avatar. He also reiterated how relevant e-insurance is an era where the digital natives in India are growing to account for a considerable section of the consumer segment.

He touched upon how other countries in the world that have successfully collaborated technologies such as GPS with digital insurance in effecting instant settlements against insurance claims in motor insurance, Mr. Ramanan and expressed his conviction that India as a nation at the threshold of being transformed into a cashless economy is surely and progressively moving towards such a phase of growth in terms of the insurance industry.

Click here to watch the entire panel discussion.

Other eminent speakers at the conclave included-

Mr. G. Srinivasan, CMD, New India Assurance

Mr. Joydeep Kumar Roy, Partner & Leader – Insurance, PWC

Ms. Kalpana Sampath, MD, Swiss Re Services India

Ms. R. M. Vishakha, MD & CEO, Indiafirst Life Insurance

Mr. Arijit Basu, MD & CEO, SBI Life Insurance

Mr. Anuj Mathur, CEO, Canara HSBC OBC Life Insurance

Mr. Anuj Gulati, MD & CEO, Religare Health Insurance

Mr. Shashwat Sharma, Partner – Management Consulting, KPMG

About CAMSRep

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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.

CAMS. Pioneer then, leader now.

A Pioneer in Technology-enabled Services

Powering

As early as the year 1988, Computer Age Management Services (CAMS) had the vision to venture into the realm of technology-enabled outsourcing services for Asset Management Industry. CAMS had the vision to build a service model with a unique platform based outsourcing, right from the start.

There has been no turning back and today, CAMS has fortified itself as an integral part of the Indian Fund industry and a trusted service partner to 16 Mutual Funds, which includes 8 out of the top 10 funds in India. CAMS has been strategically investing in technology infrastructure and digital capabilities to transform the experience of MF investor and catalyze the growth of Mutual funds.

Enabling the Present

In the context of Mutual Funds, CAMS has helped tackle the multiple challenges of acquiring new customers, by servicing relatively small ticket investments, managing MFs with small BPS linked fee on Assets under Management.

As a technology led, innovation focused firm committed to accelerate growth and reach of the MF industry in India, CAMS has been strategically leveraging digital platforms to serve the Mutual fund investor community with many first of its kind services and utilities, several of which have been replicated by other players.

Digitally Yours – Specialized Services from the house of CAMS

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Camsonline, the web platform of CAMS, offers extensive Self-Management services and utilities. Typical services include tools reporting consolidated reports and statements.

Services enabling eKYC, cKYC and more

CAMS uses the power of aggregation to provide a one-view of the investors’ folios on the fly. The company has launched a range of digital technologies to enable anytime, anywhere access to Mutual Funds with eKYC, and the recently enabled cKYC, to transform investor experience with unique benefits of extraordinary convenience, customization and responsiveness.

Managing MF via handheld devices

The technology solutions implemented for sales teams of Mutual Funds on handheld devices (CAMS Slate), mobile app for individual investors (myCAMS) and platform for corporate investors (GoCORP) has seen rapid adoption among the respective user community. myCAMS is the most downloaded MF mobile app in India and GoCORP is an unmatched offering for Institutional investors. The Capital Markets Regulator (SEBI) and the Fund industry have recognized these digital solutions as transformational innovations to catalyze financial inclusion and industry growth.

Preparing for the Future

With evolving industry dynamics and requirements from regulators and customers, many leading financial services firms continue to leverage on the digitally empowered services that CAMS offers for strategic operational activities. With great business insight and vast domain experience, CAMS continues to pursue and implement new, technology-enabled innovations to power the Financial Services Sector.

About CAMS

CAMS Logo High Resolution

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 www.camsonline.com

Secure your policies with eInsurance Account

IRDAI had recently mandated that certain insurance policies are to be issued in digitized, electronic form, from October 1, 2016. Policy holders need to have an e-Insurance Account (eIA), to purchase or renew policies, including motor insurance and overseas travel insurance policies.

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In a recent article as published on Business Standard, the many ways to go about setting an eInsurance account have been covered, with substantial references to Mr. S. V. Ramanan,  CEO, CAMS Insurance Repositories Services.

 

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Mr. S. V. Ramanan, CEO, CAMSRep

 

 

Excerpts from the article:

From October 1, opening an e-insurance account has become compulsory for buyers of new policies. The insurer whom you are buying the policy from will facilitate the process of opening this account. Existing policyholders will have to initiate the process themselves.

One advantage of opening this account will be convenience. After fulfilling KYC (know your customer) requirements, you will be able to store multiple insurance policies across segments at one place. Retrieving the policy at the time of lodging a claim will become easier.

“Today, more than Rs 5,000 crore of maturity claims are lying with the life insurance sector. This has happened because people are not aware of where they have kept their policies. Submitting the original document is mandatory at the time of a claim,” says S V Ramanan, Chief Executive Officer, CAMS Insurance Repositories Services. Electronic record-keeping will also prevent loss of documents because of natural disasters. Applying for a duplicate policy can be tedious. Cases of fraud are also expected to diminish since duplicating an e-policy is difficult. Policyholders will also be able to view policy details, see scanned images of proposal forms and their terms and conditions, and make changes to their account details.  

Opening or maintaining an e-insurance account will not cost policyholders anything. Insurance repositories are compensated by insurance companies for safekeeping policies in electronic form. They will do so because they stand to save the money they currently spend on printing and despatching physical policies.

Account opening forms can also be submitted in the physical form to the approved persons (people appointed by the repository for customer service) along with supporting documents.  

Existing policyholders will need to get their policies converted to be able to store them online. Once you have an e-insurance account, you can request for conversion at the repository’s website, or approach approved persons. “You can also approach your insurer and share your e-insurance account number for getting your policies converted,” says Ramanan.

Holders of e-insurance accounts have to appoint an authorised representative to act as their trustee. This person could be the nominee, a family member or a friend. She will be able to access the account in case the account holder dies or becomes incapacitated.

To read the entire article, please visit: https://goo.gl/JECXn7

About CAMSRep

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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. To know more about CAMSRep, please visit https://www.camsrepository.com/.