In an age of constant digital change and innovation, Lombard International Assurance understands that the needs of wealth advisers serving ultra and high net worth (U/HNW) clients continue to evolve. Focused on driving innovation and efficiency in every aspect of its business, Lombard International Assurance strives to lead the industry when it comes to developing and enhancing the service and solutions their stakeholders have come to expect over the past 30+ years.
The integration of technology into key processes sits at the heart of this approach, with Lombard International Assurance’s digital servicing platform, “Connect”, which delivers online, secure and compliant policy management and servicing. Such an approach is fundamental in successfully delivering operational excellence, as well as upgraded accessibility for partners and clients across all markets the Company serves.
Its strategy and efforts won the Most Effective Investment Service Offering at the Private Banker International Global Wealth Awards 2022.
Founded in 1991 and headquartered in Luxembourg, Lombard International Assurance provides customised cross-border insurance-based wealth, estate, and succession planning solutions for U/HNW individuals, families, and institutions. The Company partners with clients’ trusted advisors, including private banks, family offices, tax lawyers, investment managers, and wealth planners providing a platform to protect, grow and pass on assets. Business relationships with over 1,000+ asset managers and 200+ custodian banks are active, and a range of insurance-based wealth solutions are available across a diverse set of asset classes, spanning life and wealth cover, liquidity and long-term legacy planning options and non-traditional assets.
The last few years have seen a significant increase in the complexity that wealthy individuals and families face as they navigate an uncertain global economy as well as an evolving suite of asset classes. Driven by the unpredictable geopolitical environment, changing market dynamics and macroeconomic instability, Lombard International Assurance continues to adapt its offering to help U/HNW families and their advisers navigate these complexities.
Whilst U/HNW families re-evaluate their existing planning, with more than $15 trillion in wealth set to transition globally by 2030[1], planning early is all the more important. Asset protection, portfolio diversification and bespoke wealth planning are becoming much more important criteria. Furthermore, with wealth structuring and intergenerational planning becoming even more multifaceted, wealth professionals need to ensure they are well equipped and have the necessary resources to manage their clients’ evolving needs and expectations.
Lombard International Assurance succeeds in providing flexibility and choice to partners and clients, and delivers tailored wealth solutions rooted in deep local knowledge, powered by an internationally diverse team and digitalisation.
Providing consistency in its service and value proposition across all operational markets is key, and this is achieved through the implementation of a robust, agile, and holistic digital proposition. Not only does it enhance servicing capabilities and operational efficiency, but also enables Lombard International Assurance to create further reliability by streamlining and, where possible, integrating its own systems with those of its partners. From a business development perspective, digital onboarding and servicing platforms, coupled with the availability of online transaction tools, represent important sustainable growth levers, in line with business partner requirements and expectations.
Lombard International Assurance’s approach to sustainably future-proofing its digital infrastructure is supported by three key pillars. Firstly, it ensures that its digital solutions enables its own talented international team of experts to focus their attention on value adding activities, rather than manual processes. Secondly, the solutions need to simplify the complex by continuing to invest in product development, technology and operations. Finally, they must also be a catalyst for greater compatibility and integration with current and future stakeholders.
Additionally, Lombard International Assurance has invested time and resource focusing on its people by developing a clear employee value proposition based upon its values and core purpose, covering recruitment, career development and progression to learning, to having fun at work and beyond. Attracting, retaining and nurturing talent enables the Company to further develop trust with partners, clients and colleagues, ultimately enabling Lombard International Assurance to grasp the opportunities ahead, not only today but into the tomorrow.