Risk management is the process of identifying, analysing, accepting, mitigating or transferring uncertainty in investment decisions. Fund managers apply risk management by analysing and attempting to quantify the potential loss of an investment and then acting accordingly.

Institutions are being transformed thanks to the integration of new technologies. This vision represents a corporate change with a social impact, reducing costs, simplifying processes and procedures, and raising awareness of the importance and benefits of this transformation.

In view of the current economic conditions, which has been witnessed worldwide, highly affecting the economies of developing countries, the resulting to high rates of inflation had a direct negative impact on the economic situation and came as a hard blow to the population of those countries, including Egypt. The crises required a speedy intervention through the Public Treasury and the Social Insurance System in Egypt to address this problem and reduce the burden on pensioners and survivors and to improve living standards

Article 12 of Law No. 5508 on the Promotion, Protection of Maternity and Support for Breastfeeding establishes that maternity allowance should be paid to employed women by the social security scheme of Paraguay’s Social Insurance Institute (Instituto de Previsión Social – IPS). This amount is equivalent to 100 per cent of her salary at the time of delivery, and is paid for the prescribed months of rest. This used to be given to women in a single payment.

The issue of population growth and social security planning is one of the biggest challenges facing governments today, and is a key part of a good social security system that instils confidence in its members.

The Retirement and Pension Fund for Employees of Banks and Related Institutions (Caja de Jubilaciones y Pensiones de Empleados de Bancos y Afines) (Bank Fund, hereinafter) is in constant communication with its members. It therefore continuously updates its databases, in order to have a better understanding of members’ current realities, experiences and needs.

Digital transformation is happening in institutions through the integration of new technologies. This vision represents an institutional and social change, optimizing available resources, reducing costs, shortening processes and procedures, and raising awareness of the importance and benefits of this transformation.

Good practice in health – service quality.

As health-care systems have evolved to become more complex and due to the resultant increase in patients coming to harm in health care settings, patient safety has emerged as a health-care discipline.

The Actuarial Advisory Office (Asesoría Actuarial) of the Social Insurance Institute (Instituto de Previsión Social – IPS) carried out an actuarial valuation of the Common Retirement and Pension Fund (Fondo Común de Jubilaciones y Pensiones). The valuation looks to comply with international best practices and observe the guidelines and standards of the International Standards of Actuarial Practice 2 (ISAP 2), and the ISSA-ILO Guidelines on Actuarial Work for Social Security, with technical support from the International Labour Organization (ILO).

Like most of the world’s countries, Paraguay has adopted lockdown measures to prevent the spread of COVID-19. These steps taken by the government have impacted the productive sector, leading to mass suspensions of employment contracts for persons insured with the Social Insurance Institute (Instituto de Previsión Social – IPS) of Paraguay.

For a long period, Egypt has suffered a lack of development in providing governmental services in general, and the social insurance services in particular to citizens. In line with the general reform policy of the Egyptian State, and with the need to automate the services of all sectors, the National Organization for Social Insurance (NOSI) developed an automation and digital transformation strategy.

The quick development in societies and the appearance of certain political, social, economic or health issues are different challenges facing social insurance systems in Egypt. While addressing such challenges, the insurance system may find some obstacles and shortcomings in policies, legislation or technological systems.

The social insurance system in Egypt has faced for decades the problem of financial entanglements with the Public Treasury and the National Investment Bank, which affected the financial sustainability of the system and posed the threat of having a cash deficit in social insurance funds in the near future. Subsequently, this would result in the non-payment of cash entitlements to the eligible, as ensured by the system.

The Egyptian state has taken great steps towards digital transformation and building a digital Egypt. To reach a digitally connected and integrated government, and expanding the provision of automated services, the National Organization for Social Insurance (NOSI) of Egypt is working towards promoting and developing the information and communication technology (ICT) infrastructure, setting plans and strategies to achieve such goals, keeping in mind improving the work environment and raising the level of performance within the various state institutions.

The goal was to serve our clients in a perfect way by enabling better communication among clients, customer service employees and decision makers in our organization, gaining an understanding of clients' needs and helping us resolve their problems related to our social insurance system.

Preparing and establishing the Call Centre involved: