Insurance Systems Insights
15th February 2019
Thanks to a combination of factors, from geopolitical uncertainty and Brexit through to the trade disputes between the USA and China, economic stability seems to be in doubt once again. You don’t have to look far to see that in some markets, trading conditions are challenging, and, given that recession is a not too distant memory, this has... read more
4th February 2019
In recent years, just like businesses in almost any other industry, insurance companies have been focusing on improving the customer journey. They are increasingly adopting automated systems which help to streamline their service, offering policyholders an efficient, easily navigated and hassle-free journey from point of quote to purchase, to claim... read more
31st January 2019
Dash Financial Technologies appoints CFO
New York-based fintech Dash Financial Technologies appointed Scott Patrick as chief financial officer, effective January 23. Patrick has 25 years of experience in financial services and financial technology and has held positions of an investment banker, equity research analyst and a strategic... read more
28th January 2019
Early on in my treasury consulting career, a new client approached me with what seemed to me a rather unusual request during their system implementation: “Could you please set up Deutsche Mark as one of our currencies?” I blinked. Deutsche Mark – the former German currency replaced by the euro in 2002? My confusion must have shown... read more
23rd January 2019
Rolling out new middle- and back-office technology should be a continuous process, but for some firms it’s more of a decennial event. The pace of change that has been set by regulators in recent years requires firms to fundamentally reassess their timescales and models for deployment. Going forward, fixed and... read more
18th January 2019
The combined effects of Open Banking, the General Data Protection Regulation (GDPR) and developments within artificial intelligence could see banks offering life insurance.
“The real challenge is synchronising banks’ data into the old and archaic insurance processes in the old insurance offices and ensuring incumbent insurers are... read more
18th January 2019
Last September, the UK's Citizens Advice Bureau (CAB) filed a super-complaint with the Competition and Markets Authority (CMA) calling for more to be done to tackle the ‘loyalty penalty’ being paid by longstanding customers in five markets: mobile phone contracts, broadband, cash savings, home insurance and mortgages. The... read more
7th January 2019
The exciting story of crypto currency trading has seen many businesses and individuals amass huge fortunes over the last few years. Notable examples include Chris Larsen, cofounder of Ripple (crypto net worth: $7.5bn - $8bn) and Changpeng ‘CZ’ Zhao, CEO of Binance (crypto net worth: $1.1bn - $2bn), according to Forbes.
The continuing... read more
3rd January 2019
Insurance renewal rules by the UK’s Financial Conduct Authority (FCA), which were created to encourage consumers to shop around as contracts approach expiration, have failed to have any significant impact according to Phoebe Hugh, CEO of insurtech, Brolly.
“The biggest challenge for insurtechs is that consumers are inert in insurance... read more