More than Control: How Specialized Depository Can be Useful to Life Insurers

This was explained by Pavel Dengin, Deputy General Director for Development of INFINITUM Asset Services, on November 25, 2021, during the “Life Insurance” conference organized by Expert RA.

A specialized depository today does not only control, account, approve transactions and store clients' property. In addition to the basic functions aimed at protecting investor rights, INFINITUM provides clients with outsourcing and consulting services, assists in the creation of mutual funds and the drafting/obtaining approval of rules of trust management for mutual funds, offers technological distribution services and other additional services and services that allow clients to focus on their core business.

For example, life insurers can use the INFINITUM technology solution to evaluate transactions, risks, emulate scenarios, and analyze many other customizable attributes and indicators.

A separate topic of discussion at the conference was the creation of a new type of insurance: unit-linked life insurance. "The experience and technologies of specialized depositories in accounting and maintenance of unit holder registers, INFINITUM’s specific experience in the implementation of outsourcing services make it possible to use them in any unit-linked life insurance model to protect the rights of investors and to help insurance companies," Pavel Dengin said. He highlighted that such cooperation with a specialized depository will help insurers to adapt faster and more comfortably to the new regulatory environment, which will be created in case of implementation of the idea of merging licenses of investment fund management companies and life insurers. Additional investment powers will require the creation of a new accounting infrastructure for the insurance business, and specialized depositories are ready to provide it, along with expertise and consulting support.