(4) The location of an investment structure in the past was mainly driven by tax considerations. The message is louder and clear, if we wish to take note of it. We have FATCA driven by the US, Common Reporting Standard driven by OECD and the resultant automatic exchange of information among participating countries, OECD’s active pursuit on tax transparency, fair taxation and implementation of anti-base erosion profit shifting measures, to mention a few. These developments globally are driving the need to conduct business in a more compliant manner with demonstrable economic substance. This trend is bound to continue and will further accelerate as we move forward in 2019 and beyond. This is further augmented using technology to drive ongoing surveillance and law enforcement getting stricter. There is heightened level of co-operation between governments on a bilateral and multi-lateral basis on sharing of information and data.
(2) In recent years, regulators and tax authorities across the globe have become more active in bringing regulatory changes, having significant impact on cross-border investment structures. Regulators’ ever-growing tentacles and offshore structures A proprietary structure could be used to establish single family office, family trust using corporatized private trustee arm or an investment holding entity and other types of private investment vehicles. (1) The need for Governance, Risk and Compliance (GRC) at a commensurate level may not have received much attention in the past in many countries, more so for proprietary investment structures. The company has raised $50 million to-date led by 3L Capital, Greenfield Partners, Arbor Ventures, Viola Fintech, Team8 and Eight Roads.Proprietary Investment Structures AND Governance, Risk and Compliance Planck was founded by a team of relentless entrepreneurs with extensive backgrounds in insurance and technology and has almost 100 employees globally. The platform makes managing risk much faster and more predictable, resulting in increased written premium while reducing loss and expense ratios. Global carriers, MGAs and insurtechs leverage Planck’s holistic solution for customer acquisition and growth strategies, submission prefilling and validation, underwriting new business, renewing existing policies, premium auditing and more. Planck enables insurers to drive service and underwriting excellence by connecting the most up-to-date insights, with just a business name and address. Planck, an automated AI-powered data platform for commercial insurance, has solved the industry's long-standing need for real-time accuracy and truth. The suite of benefits from Planck continues to grow and additional products are scheduled to launch throughout 2022. Top insurance companies in the US, Europe and Japan are already benefiting from Planck’s offerings, such as Attune, Chubb, Republic Indemnity (Great American Insurance Group) and Sompo. The out-of-the-box risk search engine is available today and can be onboarded quickly for both new and existing customers. With the embedded feedback feature, users can easily train the returned insights to inform their individual search engine algorithm models and ensure future results are prioritized based on the insurer's specific needs. This streamlined access to vital information empowers insurers with a complete picture of a business to make critical underwriting decisions quickly and accurately so they can pivot to the more complicated challenges,” Kalechstain stated. “Our platform is built to understand risk and go beyond basic, firmographic business data. Further refinement capabilities are built-in to enable underwriters to filter within the offered results and uncover answers to their specific underwriting questions. Results can be sorted by source type, including a map outlining additional geospatial risk data. “Planck is the only platform that provides the focused, relevant web results they need about the businesses they write-with just a single search query.” “Underwriters no longer need to spend hours of valuable time reading endless pages of information meant for everyday consumers,” said Noa Kalechstain, Vice President of Product Strategy at Planck.
0 kommentar(er)
