SEPA: How Insurers Can Navigate Through the State of Uncertainty

ID Number: G00158766

25 June 2008

Juergen Weiss

Many European insurers have not taken enough notice of the Single Euro Payments Area initiative partly because of uncertainty about open issues and SEPA's future impact. Gartner has developed a decision matrix that will help insurers define an appropriate SEPA strategy.

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Table of Contents

Analysis

1.0

The Open Issues Around SEPA

1.1		No Concrete End Date
1.2		Master Data Conversion
1.3		Proliferation of XML Standards
1.4		Complex Process Changes and Effects on Customer Relationships
1.5		Payment Format Details Still a Work in Progress
1.6		No Clear Value Proposition for Insurers

2.0

SEPA Strategy Options for Insurers

2.1		Strategy 1: Wait and See
2.2		Strategy 2: Implement Compliance Step by Step
2.3		Strategy 3: Take a Strategic Approach

3.0

Proposal for a Strategy Decision Matrix

4.0

Conclusion and Recommendations

Recommended Reading

List of Tables

	Table 1.	Migration Plans of SEPA Member Countries

	Table 2.	The 10 Factors for the SEPA Strategy Decision Matrix

	Table 3.	SEPA Decision Matrix

	Table 4.	Decision Matrix Mapped to SEPA Strategy

Payments
Regulatory Compliance
Insurance Business Strategies

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Resource Id: 706909