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Message from the MD

Welcome to our quarterly newsletter. In an increasingly uncertain world, it seems to me that there are two major trends that simply won’t go away: the challenge of an ageing population and the relentless march of the digital revolution. Both of these continue to drive much of what we do.

Our Consulting team have been busy researching the digital capabilities of personal lines insurers, checking how our pension freedoms predictions worked out and preparing for the latest in our regular series of thought leadership events in June – this time on InsurTech. All this activity seems to be paying dividends as Altus Consulting enjoyed its most successful quarter ever with more than 20 assignments across a range of new and existing clients in all sectors. 

Meanwhile, Altus Business Systems have launched our latest product which supports the new expanded pension reporting requirements from HMRC. As well as launching new products, the team have also found time to successfully deliver key components of the Pensions Dashboard prototype on behalf of NOW: Pensions and to run another special interest group to drive further improvements and efficiencies in the transfers process. 

I hope you find something of interest.
Altus Pension Reporting Gateway is awarded HMRC RTI Recognition

Altus Business Systems launched its latest product, the Altus Pension Reporting Gateway (APG) in January 2017. APG provides pension administrators with a simple route to upgrade to the HMRC’s preferred Internet XML route without needing to change existing systems.
After going through a series of tests set by the HMRC to ascertain that it was able to report Real Time Information (RTI) data electronically through the Government Gateway, APG was awarded HMRC RTI Recognition in April 2017.
HMRC announced in 2016 that it would be decommissioning the Electronic Data Interchange (EDI) channel and replacing it with an existing XML service by April 2018. APG is a packaged solution for managing HMRC reporting requirements. It allows the upgrade to the HMRC’s preferred XML route by mirroring the interface to EDI reporting services. It handles the full range of RTI/PAYE and pension scheme reporting requirements and gives administrators control over the whole process.

For more information, please click here.
General Insurance - The Digital Experience 2017

Altus Consulting carried out their own primary research to look at the digital capabilities of leading personal lines insurers. The research covered the full policy lifecycle from Quote & Buy, MTA and Renewal right through to Claim and the findings make interesting reading. 

Download Infographic

Altus Business Systems provides foundation for Pensions Dashboard prototype

The Pensions Dashboard is a platform that will let savers see all their pension pots in one place and will help them to plan for their retirement more effectively. Altus Business Systems has successfully delivered key components of the Pensions Dashboard prototype on behalf of NOW: Pensions. For more information, please click here.

There are many issues for the industry and government yet to tackle, but pension administrators should now be thinking through the challenges the Pensions Dashboard will present for them. Altus Business Systems is planning a series of workshops to help them address the key questions. Look out for more details, dates and locations soon.
At Retirement Pensions Update - Have freedoms lived up to the hype?

Our 2014 white paper ‘The High Cost of Freedom: Retirement in 2020’ discussed the momentous changes announced in that years Budget. In it, we predicted how the pensions industry would respond. In this briefing paper, we take a look back at our predictions for 2020 on providers’ reactions, and check how well the crystal ball worked for us at this half-way point.

> Download the At Retirement white paper 

> Download the Half-time update 

Head of Consulting, Martyn Evans presented these findings and his thoughts on how to build robust strategies for future retirees at the 2017 Pensions & Life Annual Conference. The conference featured a number of industry speakers who explored the strategic themes of changing retirement trends and their impact on financial services providers, corporate funds and third party administrators.

ATG Special Interest Groups

At our last Altus Transfer Gateway User Group held in February, we announced a series of initiatives to drive improvements and efficiencies in the transfer processes.  In order to help push these initiatives this year, we have established special interest groups in the following areas:
  • BACS cash ISA transfers (bridging the gap between BACS and TeX transfers),
  • Share class conversions (pre and post re-registration),
  • JISA transfers,
  • SIPP transfers.
If any of these initiatives are of interest to you or your organisation, you and/or your colleagues are welcome to join one or more of the groups. 

Please contact us at if you would like to get involved.
Altus InsurTech Event

Altus Consulting are hosting an event in London on Thursday 15th June 2017. The event will look at disruption in the insurance industry and how new technology start-ups are impacting different parts of the insurance value chain.

During the event we'll explore:

•             The evolution of digital brokerage
•             The impact of the gig economy on traditional packaged products
•             The emergence of P2P and insurance communities
•             The re-mutualisation of insurance
•             Customer specific risk modelling and product design

Our line-up of speakers includes: leading authorities from the UK and overseas, major brands and InsurTech innovators and leading specialists in their field.
If you are interested in coming along to our event, please email
Business Systems launches its own Twitter Account
Altus Business Systems has launched its dedicated Twitter feed! Please follow us at @AltusBusSys for news of our latest product developments and releases, commentary on industry developments and events and conferences we will be attending. 

Full Electronic in-specie pension transfers
Our latest video explains the complex process of In-Specie pension transfers.
Watch video..

HMRC raises the bar for LISA providers
Business Systems Director Ben Cocks explains that the new Lifetime ISA reporting requirements will use new technology that will give real-time responses and updated authentication processes, which will be a significant change from the format for current ISAs.
Read more..

Pension Dashboard: the industry needs to decide who pays
The technology has been delivered, but the question of who pays for the Pensions Dashboard remains. Altus Business Systems Director Ben Cocks reviews the options.
Read more..

How long does it really take to complete an ISA or GIA transfer?
Sales and Marketing Director, Howard Finnegan shares data findings on completion times.
Read more..
Upcoming Business Systems Events
Business Systems Blogs
In the Press

Platforms Vs Adviser Back Office systems: A fight to the death?
Head of Innovation, Adam Jones examines how platforms and back office systems have staked their claim in financial advisers’ value chains. 
Read more..

Momentum UK Financial Wellness Index 2017 
Principal Consultant, Simon Bussy was invited to be a panellist on a roundtable to discuss the future of the IFA industry at the Momentum UK Financial Wellness Index 2017.

Get your Financial Wellness Score

Future Horizons Conference
Consulting Director, Kevin Okell was invited to join a group of leading thinkers and influencers from global financial firms, international organisations, think-tanks, government, UK and international regulators contributing to the UK Financial Conduct Authority’s (FCA) Future Horizons project. The purpose of the project is to explore hypothetical future financial and societal landscapes to draw out the likely future risks and opportunities for the FCA, the industry and wider society in financial services. 

Benefex Client Winter Forum
Head of Innovation, Adam Jones was on a panel session at the Benefex Client Winter Forum recently and was asked what he thought the biggest technology driven changes in financial services would be and how they would impact employers and the services they provide their staff.

Read more..
Upcoming Consulting Events
Consulting Blogs
In the Press
Altus Charity News - Bristol Children's Hospital

Altus staff chose to donate £10K to  Elizabeth’s Footprint – The Grand Appeal  The Bristol Royal Hospital for Children provides a local service for Bristol children and a referral service for specialist care for families across the South West and nationally. 

Natalia Spencer (picture above) set herself a gruelling endurance challenge, Elizabeth’s Footprint, in memory of her daughter Elizabeth, who passed away in 2015 after contracting a rare autoimmune condition.
Consulting Website
Business Systems Website

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