Posts Tagged ‘irish life’
New roles for Irish Life and Permanent execs ahead of separation
December 11, 2011
IRISH Life Permanent has begun divvying up its senior ‘group’ executives between Irish Life and the Permanent TSB bank in preparation for the operations’ formal separation next year.
The bank yesterday announced new roles for seven senior executives, who will move from Irish Life Permanent Group at the end of March (subject to approval from the Central Bank).
A spokesman confirmed that external consultants were engaged to assess whether executives would be better suited to the life insurance or banking business.
A key determinant was whether the bulk of their duties over the past two years involved Permanent TSB, or Irish Life Assurance. All executives will keep their existing pay and conditions once they move over.
The positions already settled will see ILP head of risk and compliance Bill Hannan take over the same function at a standalone Permanent TSB.
Legal boss
He’ll be joined there by ILP company secretary Ciaran Long, who becomes Permanent TSB’s company secretary, and ILP’s group head of HR Tony Hession, who will have the same title at the new Permanent TSB.
The final executive already assigned to Permanent TSB is ILP’s chief legal officer Cathal MacCarthy, who will become the bank’s legal boss.
Barry Walsh, who heads up ILP’s investor relations, will become Irish Life Assurance’s company secretary in addition to his current responsibilities.
ILP’s group head of internal audit Paul Wigham is set to transfer to the same role at the life company, while head of group finance at ILP Philip O’Neill becomes head of group finance at Irish Life.
No announcement has been made about group chief executive Kevin Murphy, though he is expected to be assigned to the life insurance company.
Meanwhile, ILP is at an “advanced stage” of selecting a chief executive to run Permanent TSB as a standalone bank.
It is understood that a “handful” of candidates, including Permanent TSB boss David Guinane and other internal candidates, are being considered, along with external candidates.
- Laura Noonan
Irish Independent
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Irish Life still valuable , says Noonan
December 5, 2011
Finance Minister Michael Noonan has insisted that taxpayers will not have to stump up more money to inject into Irish Life Permanent in the wake of the collapse of the sale of its life assurance arm.
Mr Noonan said Irish Life was a successful, profitable company which the Government would now run and sell at some time in the future.
He said the asset was still very valuable, and that – unlike other banks – extra capital injected was not lost money.
Mr Noonan said the arrangements with Europe were that the recapitalisation would happen before the end of the year and the proceeds of the sale of Irish Life would come very close to covering it.
The State will now have to put in the €1.3 billion in capital needed, but the Minister said this had already been accounted for in the Budget.
The Minster said the sale to the preferred bidder of Canada Life was at the final stages but the potential buyer pulled out because of the euro zone crisis.
Fianna Fáil finance spokesman Michael McGrath called the news of the collapse in the sale of Irish Life “disappointing”. But he said Irish Life was a profitable business and the Government’s priority should be to protect that business until market conditions improved to ensure a return to the taxpayer.
Sinn Féin TD Aengus Ó Snodaigh called on Mr Noonan to come into the Dáil next week to explain what he called the full scale of the problem at Irish Life.
Irish Life deploys new BI system
December 3, 2011
Irish Life deploys new BI system
Pensions and life assurance provider, Irish Life is aiming to improve decision-making with a new business intelligence (BI) platform, Tableau Software, CIO reports.
Irish Life is using the system to graphically represent data across the organisation, improve decision-making, and map patterns and trends in a clearer way. There are also plans to roll out new BI dashboards to up to 300 users in early 2012, the company reveals.
According to IBR, Irish Life, in association with Tableau Software partner, MXI Computing, has installed the product across the business, resulting in the rapid rollout of sophisticated online interactive data dashboards.
The dashboards are currently accessible to business executives, account managers and the CEO, enabling them to review up-to-date information in a highly visual and graphical manner.
With the new tool, the insurer aims to improve the sales pipeline and customer service management, and better control business retention.
The CBR quotes Irish Life Retail CEO Gerry Hassett as saying: “We can now see what is happening on [a] day-to-day and week-to-week basis, which means we can develop our business accordingly and further enhance our competitive edge.”
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Irish Life deploys new BI system
December 3, 2011
Pensions and life assurance provider Irish Life is aiming to improve decision making with a new business intelligence platform.
Irish Life is using the Tableau Software system to graphically represent data across the organisation, improve decision-making and map patterns and trends in a clearer way. There are plans to roll out new BI dashboards to up to 300 users in early 2012, it said.
Working with Tableau Software partner MXI Computing Ltd, the dashboards are currently accessible to business executives, account managers and the CEO. The “primary focus of the tool is to improve the sales pipeline and customer service management, but also to better control business retention”, said Irish Life.
Gerry Hassett, CEO at Irish Life Retail, said: “We can see that the return on investment is already being delivered. We can now see what is happening on a day-to-day and week-to-week basis, which means we can develop our business accordingly and further enhance our competitive edge.”
Irish Life wanted the ability to produce the information clearly in dashboards, in PDF formats, and on the web and mobile devices. Mobile users will eventually be able to browse content, access favorite reports and quickly collaborate on their devices.
IBM recently warned of a major data analysis problem among big businesses, with many unable to interpret over 90 percent of their information, claimed Big Blue. The advent of BigData, cloud computing and mobile data access were complicating matters, it said.
Irish Life select Tableau software for new vision
December 3, 2011
Pensions and Life Assurance insurance provider, Irish Life has selected Tableau Software to help promote it’s new scheme for business intelligence.
The Tableau will be used across the business to aid decision making, clearly map trend patterns and to graphically represent data within the organisation.
Irish Life celebratedhe software for being cost effective.Plans to extend the use of Tableau will be put into action for 2012.
The application can currently be accessed by the CEO, account managers and business executives and provides them with up to date graphical information on the business.
Gerry Hassett, CEO at Irish Life Retail said “The whole implementation of my CEO dashboards has taken a few weeks and has been a seamless operation. We can now see what is happening on the day-to-day and week-to-week basis which means we can develop our business accordingly and further enhance our competitive edge.”
Mr Hassett also commended the software for being a useful and successful investment.
Graham Mulhern, Director at MXI Ireland also said the Tableau software was a terrific business intelligence solution and admitted that the software had a positive effect on Irish Life.
Irish Life now plans to make their Tableau software dashboards mobile to allow users to access reports and quickly collaborate while on the go.
Irish insurer deploys new BI system
December 2, 2011
December 01, 2011, 8:10 AM — Pensions and life assurance provider Irish Life is aiming to improve decision making with a new business intelligence platform.
Irish Life is using the Tableau Software system to graphically represent data across the organisation, improve decision-making and map patterns and trends in a clearer way. There are plans to roll out new BI dashboards to up to 300 users in early 2012, it said.
Working with Tableau Software partner MXI Computing Ltd, the dashboards are currently accessible to business executives, account managers and the CEO. The “primary focus of the tool is to improve the sales pipeline and customer service management, but also to better control business retention”, said Irish Life.
Gerry Hassett, CEO at Irish Life Retail, said: “We can see that the return on investment is already being delivered. We can now see what is happening on a day-to-day and week-to-week basis, which means we can develop our business accordingly and further enhance our competitive edge.”
Irish Life wanted the ability to produce the information clearly in dashboards, in PDF formats, and on the web and mobile devices. Mobile users will eventually be able to browse content, access favorite reports and quickly collaborate on their devices.
IBM recently warned of a major data analysis problem among big businesses, with many unable to interpret over 90% of their information, claimed Big Blue. The advent of BigData, cloud computing and mobile data access were complicating matters, it said.
Irish Life deploys new BI system
December 2, 2011
Pensions and life assurance provider Irish Life is aiming to improve decision making with a new business intelligence platform.
Irish Life is using the Tableau Software system to graphically represent data across the organisation, improve decision-making and map patterns and trends in a clearer way. There are plans to roll out new BI dashboards to up to 300 users in early 2012, it said.
Working with Tableau Software partner MXI Computing Ltd, the dashboards are currently accessible to business executives, account managers and the CEO. The “primary focus of the tool is to improve the sales pipeline and customer service management, but also to better control business retention”, said Irish Life.
Gerry Hassett, CEO at Irish Life Retail, said: “We can see that the return on investment is already being delivered. We can now see what is happening on a day-to-day and week-to-week basis, which means we can develop our business accordingly and further enhance our competitive edge.”
Irish Life wanted the ability to produce the information clearly in dashboards, in PDF formats, and on the web and mobile devices. Mobile users will eventually be able to browse content, access favorite reports and quickly collaborate on their devices.
IBM recently warned of a major data analysis problem among big businesses, with many unable to interpret over 90 percent of their information, claimed Big Blue. The advent of BigData, cloud computing and mobile data access were complicating matters, it said.
Irish Life deploys new BI system
December 2, 2011
Irish Life deploys new BI system
Pensions and life assurance provider, Irish Life is aiming to improve decision-making with a new business intelligence (BI) platform, Tableau Software, CIO reports.
Irish Life is using the system to graphically represent data across the organisation, improve decision-making, and map patterns and trends in a clearer way. There are also plans to roll out new BI dashboards to up to 300 users in early 2012, the company reveals.
According to IBR, Irish Life, in association with Tableau Software partner, MXI Computing, has installed the product across the business, resulting in the rapid rollout of sophisticated online interactive data dashboards.
The dashboards are currently accessible to business executives, account managers and the CEO, enabling them to review up-to-date information in a highly visual and graphical manner.
With the new tool, the insurer aims to improve the sales pipeline and customer service management, and better control business retention.
The CBR quotes Irish Life Retail CEO Gerry Hassett as saying: “We can now see what is happening on [a] day-to-day and week-to-week basis, which means we can develop our business accordingly and further enhance our competitive edge.”
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Irish life selects Tableau Software to deliver dashboards
November 30, 2011
IBR Staff Writer
Published 30 November 2011
Pensions and life assurance insurance provider Irish Life has selected Tableau Software to deliver dashboards for its life assurance and pensions businesses, unleashing new power of data.
The insurance firm is using Tableau to graphically represent data across the organisation, improve decision-making and map patterns and trends in a clearer way than ever before.
Irish Life is planning to roll out dashboards to up to 300 concurrent users in early 2012.
Irish Life in association with Tableau Software partner MXI Computing has installed the product across the business resulting in the rapid roll-out of sophisticated online interactive data dashboards.
The dashboards are currently accessible to business executives, account managers and the CEO, enabling them to review up-to-date information in a highly visual and graphical manner.
With the new tool, the insurer aims to improve the sales pipeline and customer service management, and better control business retention.
Irish Life Retail CEO Gerry Hassett said the whole implementation of his CEO dashboards has taken a few weeks and has been a seamless operation.
“We can now see what is happening on the day-to-day and week-to-week basis which means we can develop our business accordingly and further enhance our competitive edge,” Hassett said.
Irish Life Business Intelligence IT manager Paul Egan said they also wanted the ability to produce the information clearly for digest in dashboard applications and in PDF format and accessible on the web and via the mobile.
Customer service will be enhanced with the ability to maintain a deeper level of reporting, tracking the number of contacts that have been made online, via telephone or by paper and spot areas that can be streamlined.
MXI Ireland director Graham Mulhern said business executives and sales managers are following the emerging trends, seeing new and additional insights into the business information and capitalising on relevant opportunities.
“From MXI’s viewpoint, Irish Life is a household name and this relationship will have real meaningful effect on our business growth over the next few years, both in terms of sales and employment,” Mulhern said.
Tableau Software VP for Europe Bruno Saint-Cast said Irish Life has recognised the value of data in their business and the potential to improve processes and best serve customers.
Going further, users will be able to browse content, access favorite reports and quickly collaborate, all while on the go, as Irish Life is planning to take their Tableau interactive dashboards mobile.
Deal to sell Irish Life & Permanent has collapsed
November 27, 2011
The Irish taxpayer is going to have to put a further €1.3bn into Irish Life and Permanent, it has emerged.
A planned sale of the group’s life assurance company Irish Life has been called off due to the euro crisis.
If the deal had proceeded it would have saved the taxpayer from footing the bill for the recapitalision.
In a statement, the Department of Finance said it had informed ILP that none of the bids received to acquire Irish Life were acceptable at the present time.
The Department said there had been significant interest from a broad range of potential bidders.
The statement said: “The very challenging market environment in recent days was not supportive to achieving an outcome that recognises the strength of the Irish Life business.”
It added that the Department of Finance would work with ILP to complete the PCAR recapitalisation in accordance with the requirements of the Central Bank.
Irish Life and Permanent needs to raise €4bn in additional capital to cushion against bad loans. So far the taxpayer has put in €2.7bn.
It is expected that the Government will sell the company at later date rather sell in current market conditions at a discount.
- Keywords:
- irish life and permanent,
- economy,
- banks