An abbreviated version of the industry forecast for 2012 pointing out the highlights of key issues, strategies, areas needing focus, and likely structural changes.
2014 Property & Casualty Insurance Industry Outlook: Innovation leading the wayDeloitte United States
On the surface the property and casualty sector appears to be doing quite well, but running an insurance carrier is rarely smooth sailing. The last few years have been particularly difficult for those occupying C-Suite positions, as more fundamental issues are threatening not only short-term results on their balance sheets, but challenging the long-term viability of their operating models as well.
For example, a growing number of insurers are facing significant organizational disruption. Many have made large-scale investments in technology, replacing core systems for claims, policy administration and finance. Their chief challenge now is how to effectively leverage the new systems they’ve put in place and maintain their momentum with additional innovations in personnel, products and culture.
Additionally, ongoing political gridlock in Washington could undermine an already unsteady economic recovery. Not to mention regulatory uncertainty that makes it difficult for carriers to plan ahead and determine operational priorities.
Innovation may ultimately be the key to keep insurers growing regardless of shifting economic and insurance market conditions, as they devise ways to thwart ongoing and emerging competitive threats as well as capitalize on new opportunities.
For more - visit http://www.deloitte.com/view/en_US/us/Industries/Insurance-Financial-Services/039bdd0819e23410VgnVCM3000003456f70aRCRD.htm
2014 Life Insurance and Annuity Industry Outlook Transforming for growthDeloitte United States
It’s 2014. Is it the best of times? Is it the worst of times? Or is it both for the financial services industry?
For a view into where and how growth will emerge or solidify in 2014, the Deloitte Center for Financial Services sought insight and first-hand experience from nearly 200 of Deloitte’s financial services practitioners.
Their views yielded insight into how banks and the capital markets are repositioning for growth. How the commercial real estate market is trimming its sails for growth. How the insurance industry is transforming for growth. And, how investment management is faring on its quest for accelerated growth.
http://www.deloitte.com/view/en_US/us/Industries/Private-Equity-Hedge-Funds-Mutual-Funds-Financial-Services/center-for-financial-services/cdfdf026b94fa310VgnVCM2000003356f70aRCRD.htm
With momentum building towards the UN Climate Change Conference in Peru, new figures from IBR reveal that businesses leaders in emerging markets are more focused on the sustainability of their operations compared with peers in developed markets. In this short report Nathan Goode, global leader for energy & cleantech, calls for a change in the narrative around sustainability arguing that we need to start talking in language that resonates with businesses.
Stepping into the cockpit- Redefining finance's role in the digital agePwC
Insurance finance functions have been refining their
operating models to better align with business partner
demands, as well as adopting leading practices on how
to best utilize people, process and technology. The
challenge is that the business landscape is continuously
shifting and the pace of change is rapidly accelerating.
When it comes to scrutinizing costs, most insurance companies can say “Been there, done that. Got the t-shirt.” Managers are familiar with the refrain from above to trim here and cut there. The typical result is flirtation with the latest management trends like lean, outsourcing and offshoring, and others. However, the results tend to be the same. Budgets reflect last year’s spend plus or minus a couple of percent in the same places.
2014 Property & Casualty Insurance Industry Outlook: Innovation leading the wayDeloitte United States
On the surface the property and casualty sector appears to be doing quite well, but running an insurance carrier is rarely smooth sailing. The last few years have been particularly difficult for those occupying C-Suite positions, as more fundamental issues are threatening not only short-term results on their balance sheets, but challenging the long-term viability of their operating models as well.
For example, a growing number of insurers are facing significant organizational disruption. Many have made large-scale investments in technology, replacing core systems for claims, policy administration and finance. Their chief challenge now is how to effectively leverage the new systems they’ve put in place and maintain their momentum with additional innovations in personnel, products and culture.
Additionally, ongoing political gridlock in Washington could undermine an already unsteady economic recovery. Not to mention regulatory uncertainty that makes it difficult for carriers to plan ahead and determine operational priorities.
Innovation may ultimately be the key to keep insurers growing regardless of shifting economic and insurance market conditions, as they devise ways to thwart ongoing and emerging competitive threats as well as capitalize on new opportunities.
For more - visit http://www.deloitte.com/view/en_US/us/Industries/Insurance-Financial-Services/039bdd0819e23410VgnVCM3000003456f70aRCRD.htm
2014 Life Insurance and Annuity Industry Outlook Transforming for growthDeloitte United States
It’s 2014. Is it the best of times? Is it the worst of times? Or is it both for the financial services industry?
For a view into where and how growth will emerge or solidify in 2014, the Deloitte Center for Financial Services sought insight and first-hand experience from nearly 200 of Deloitte’s financial services practitioners.
Their views yielded insight into how banks and the capital markets are repositioning for growth. How the commercial real estate market is trimming its sails for growth. How the insurance industry is transforming for growth. And, how investment management is faring on its quest for accelerated growth.
http://www.deloitte.com/view/en_US/us/Industries/Private-Equity-Hedge-Funds-Mutual-Funds-Financial-Services/center-for-financial-services/cdfdf026b94fa310VgnVCM2000003356f70aRCRD.htm
With momentum building towards the UN Climate Change Conference in Peru, new figures from IBR reveal that businesses leaders in emerging markets are more focused on the sustainability of their operations compared with peers in developed markets. In this short report Nathan Goode, global leader for energy & cleantech, calls for a change in the narrative around sustainability arguing that we need to start talking in language that resonates with businesses.
Stepping into the cockpit- Redefining finance's role in the digital agePwC
Insurance finance functions have been refining their
operating models to better align with business partner
demands, as well as adopting leading practices on how
to best utilize people, process and technology. The
challenge is that the business landscape is continuously
shifting and the pace of change is rapidly accelerating.
When it comes to scrutinizing costs, most insurance companies can say “Been there, done that. Got the t-shirt.” Managers are familiar with the refrain from above to trim here and cut there. The typical result is flirtation with the latest management trends like lean, outsourcing and offshoring, and others. However, the results tend to be the same. Budgets reflect last year’s spend plus or minus a couple of percent in the same places.
Pwc 2015 Technology Sector Sec Comment Letter TrendsPwC
PwC's technology industry publication provides a comprehensive analysis of recent SEC staff comments and disclosures to assist you in understanding the key trends relevant to companies in the technology sector.
As our industry evolves increasingly faster, sustaining an existing (or winning an even larger) share of the $30 trillion insurance servicing opportunity requires using an integrated approach to business transformation.
International Capital Standard (ICS) Background PwC
PwC US risk & capital management leader Henry Essert and PwC global insurance regulatory director Ed Barron
recently sat down to discuss the proposed International Capital Standards (ICS) for insurers. They addressed at
length what the ICS is and what it could mean to insurers. The following pages contain their thoughts on the
standard, as well as some background information on capital management and related issues in the
insurance industry.
Optimizing Voluntary Strategy via Realigned TPA Engagement and Targeted Inves...Cognizant
For group insurers with voluntary offerings, working with third-party administrators (TPAs) is a double edged sword, one fraught with problems of costs, up- and cross-selling, inadequate data, decoupling challenges and more; IT modernization programs are problematic as well. We offer a framework that enables companies to align their voluntary and TPA strategies.
Insurers are continuing to face marked changes in what customers expect in terms of products and service, how they obtain and utilize the information that informs business decisions, and their underlying business and operating models. Top Insurance Industry Issues in 2016 describes in detail the internal and external changes insurers face and how they can gain a competitive advantage..
This publication includes the deal activity in the insurance sector such as overall highlights, key announced transactions, and the outlook ahead. Read our full report to learn more.
Insurers are upgrading their technology to support more complex
products, lower operating costs, and get closer to their customers.
But they can do more harm than good when they make changes
that alienate their independent agents. We’ve identified five steps
that can help insurers engage agents early and create a
transition plan that meets agents’ needs—converting these
important stakeholders into enthusiastic advocates.
Professional Services business development and marketing during the pandemic. What do firm-wide leader need today, and how does this compare to existing provision of services? First published in PM Magazine, December 2020, written by Leor Franks.
Quick interview discussing most effective way to start leveraging the power available in analytics and big data. Discusses key points on how to successful gain traction integrating analytics into the decision making process.
201307 Nolan QNL: Game-Changers - Big Data AnalyticsSteven Callahan
How is big data and the use of analytics altering insurance company risk management and operations? What are the key factors to successfully integrating and using the deluge of new information and tools.
Pwc 2015 Technology Sector Sec Comment Letter TrendsPwC
PwC's technology industry publication provides a comprehensive analysis of recent SEC staff comments and disclosures to assist you in understanding the key trends relevant to companies in the technology sector.
As our industry evolves increasingly faster, sustaining an existing (or winning an even larger) share of the $30 trillion insurance servicing opportunity requires using an integrated approach to business transformation.
International Capital Standard (ICS) Background PwC
PwC US risk & capital management leader Henry Essert and PwC global insurance regulatory director Ed Barron
recently sat down to discuss the proposed International Capital Standards (ICS) for insurers. They addressed at
length what the ICS is and what it could mean to insurers. The following pages contain their thoughts on the
standard, as well as some background information on capital management and related issues in the
insurance industry.
Optimizing Voluntary Strategy via Realigned TPA Engagement and Targeted Inves...Cognizant
For group insurers with voluntary offerings, working with third-party administrators (TPAs) is a double edged sword, one fraught with problems of costs, up- and cross-selling, inadequate data, decoupling challenges and more; IT modernization programs are problematic as well. We offer a framework that enables companies to align their voluntary and TPA strategies.
Insurers are continuing to face marked changes in what customers expect in terms of products and service, how they obtain and utilize the information that informs business decisions, and their underlying business and operating models. Top Insurance Industry Issues in 2016 describes in detail the internal and external changes insurers face and how they can gain a competitive advantage..
This publication includes the deal activity in the insurance sector such as overall highlights, key announced transactions, and the outlook ahead. Read our full report to learn more.
Insurers are upgrading their technology to support more complex
products, lower operating costs, and get closer to their customers.
But they can do more harm than good when they make changes
that alienate their independent agents. We’ve identified five steps
that can help insurers engage agents early and create a
transition plan that meets agents’ needs—converting these
important stakeholders into enthusiastic advocates.
Professional Services business development and marketing during the pandemic. What do firm-wide leader need today, and how does this compare to existing provision of services? First published in PM Magazine, December 2020, written by Leor Franks.
Quick interview discussing most effective way to start leveraging the power available in analytics and big data. Discusses key points on how to successful gain traction integrating analytics into the decision making process.
201307 Nolan QNL: Game-Changers - Big Data AnalyticsSteven Callahan
How is big data and the use of analytics altering insurance company risk management and operations? What are the key factors to successfully integrating and using the deluge of new information and tools.
201202 Insurance News Network: CIO Stepping Stones to SuccessSteven Callahan
Discussion of the major issues facing CIO's and how they could best enhance their influence on corporate strategic direction and supporting strategies.
20140826 I&T Webinar_The Proliferation of Data - Finding Meaning Amidst the N...Steven Callahan
Joint presentation with I&T's covering the proliferation of data available to insurance companies today and a high level view of searching for value and leveraging the relevant and useful buried in all of the trivia.
Article discussing longer term implications of the current challenges facing the industry and likely structural changes that will occur over time. Technology, talent management, operations and service differentiation are all discussed.
Discussion of the key strategies that remain in place from prior year for addressing tough economy and need to find profitability and differentiation in a competitive market.
GT Events & Program Guide: ForwardThinking August/September 2017Grant Thornton LLP
ForwardThinking is a look ahead at the latest knowledge and insights available from Grant Thornton LLP. It includes a collection of our research, thought leadership and a schedule of upcoming webcasts and events.
Analytics is a two-sided coin. While on one side, it uses
descriptive and predictive models to gain valuable knowledge from data, i.e. data analysis, on the other side, it provides insight to recommend action or guide decision making, i.e. communication
Strategic Success: Closing the Deal Isn't a StrategyTodd Antonelli
Executives involved in decision-making on key corporate acquisitions need to ask not “Are we doing things right?”
but instead “Are we doing the right things?”
Marketing in the times of recessions reportIdentity Mena
The ongoing political and economical crackdowns in the Middle East are quite noticeable, in a way that was resulted in slow earnings last year and aggressive meltdown in the 1st quarter of this year.
The black swan theory or theory of black swan events is a metaphor that describes an event that comes as a surprise, has a major effect, and is often inappropriately rationalized after the fact with the benefit of hindsight.
With all the above mentioned situations, it seems as a whole flock of Black Swan events are circling the sky over the trade business and might at some point blot out the sun.
Article discussing key trends in technology and considerations for leaders looking for strategies to achieve competitive advantage without taking years and millions of dollars. Offers up the question of legacy system replacement tradeoffs and alternatives.
ndustry leaders have never been confronted with so much business volatility, complexity and uncertainty. From the triple (external) challenges of regulation, low interest rates, and sluggish growth, to the triple (internal) challenges of “limited” infrastructure spending, legacy systems, and fragmented views of the customer; each of these can constrain asset servicing opportunities for insurers.
The accounting profession has felt the impact of change. Over the past several years, operational changes in workflow and process have dramatically altered the scope of the accountant’s role. The profession’s workforce is aging, underlining the importance of succession planning and talent management. Additionally, as the digital universe doubles in size every other year, many firms struggle to keep pace with the latest technology trends.
For today’s firm, change is constant. And across the entire tax, accounting and audit profession, the forecast calls for even greater shifts in people, processes and technology.
These ever-evolving realities inspired Wolters Kluwer, CCH, a strategic partner to accounting firms, to explore two major questions in the 2014 Wolters Kluwer, CCH — Accounting Firm Preparedness Survey.
Similar to 201204 Nolan QNL: Life and Annuity Industry Outlook (20)
201207 Tech Decisions: 5 Keys to Fast Successful New Deployments.pdfSteven Callahan
Article reviews how to deal with the deluge of new technological options and the aspects of a strategy for quick, high quality implementations of emerging technologies. Based on company success stories, article lays out what will work.
201406 IASA: Analytics Maturity - Unlocking The Business ImpactSteven Callahan
Overview of how experienced insurers are finally unlocking the business value of analytics to strengthen financial results through improved underwriting, better pricing, agent enablement, enhanced risk management, and targeted cost reductions and how analytics maturity and a roadmap increases the odds of success.
20140408 LOMA Life Insurance Conference: STP More Than Just A Tweak To Your O...Steven Callahan
Provides an overview of what may be achieved through the digitalization of new business processing and the implementation of straight-through processing including the digital delivery of life insurance policies.
Reviews the importance of the claims payment process and how that moment of truth can define the competitive advantage of an insurance company. Focus is on how understanding and improving the process of claims payment benefits market share and organic growth.
201308 Insurance And Technology Webinar: Upgrading Financial SystemsSteven Callahan
Webinar on the reasons for upgrading financial systems, which are often left behind with the focus on customer facing administration and distribution management systems. Yet regulations are forcing companies to look at the benefits of upgrading their financial systems.
201005 LOMA CFO Inforum: State of the Insurance IndustrySteven Callahan
Overview of the key drivers and economics influencing the insurance industry in the coming years. Major trends in products, distribution, and service discussed.
201309 LOMA Policyowner Service and Contact Center WorkshopSteven Callahan
Presentation to insurance service leaders on service and contact center opportunities to provide competitive differentiation as well as summary results of a recent short survey on contact center challenges.
201205 Property Casualty 360: TMI is Never BadSteven Callahan
Quoted several times in article on the value of information and how the industry is unlikely to ever get too much. Information is critical so insurance decision making; managing it is becoming far more difficult.
Discussion of strategies for increasing profits without focusing on expense reduction but instead on areas with leverage like claims. Specific examples for gaining an edge are discussed.
201207 Insurance and Technology: Next Gen Mobile Strategies Table StakesSteven Callahan
Article on how companies not joining in rolling out strategies for leveraging mobile technology may end up at a competitive disadvantage. Discussion of key factors associated with mobile strategies and why all companies should be looking at ways to leverage.
201210 Insurance and Technology: Changing Times- How CIO's Can Increase Influ...Steven Callahan
Contributor to an article following Elite 8 winner announcements discussing how CIO's can increase their strategic influence and better enable their organizations to realize the benefits from technology.
201210 Insurance and Technology: Elite 8 CommitteeSteven Callahan
Recognition by Insurance and Technology as a member of the advisory board for their annual Elite 8 CIO awards. The Nolan Company's nominee, Brian LeClaire, was one of the winners.
201211 IASA theInterpreter: Social Media - Beware the IcebergSteven Callahan
Article discusses the hidden risks of social media and how all companies, even those not consciously participating in social media networks, already face risks that have to be managed.
Discussion of the impacts of increased regulation and the cost of compliance on insurance companies that already face expense management challenges. Is it worth it, how do insurers adjust? Strategies and impacts reviewed.
Article discussing the potential for realignment of insurance strategies to focus on differentiating factors that may or may not include legacy systems replacement. Should legacy systems be outsourced and insurance resources reapplied to strategically unique areas?
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
3. The Nolan Newsletter
People, Process, and Technology
Table of Contents
The Brave New Mobile World..........................................................................2
Is Your Operation Ready for Mobile?................................................................3
David Gutwald Joins the Nolan Company.....................................................5
Health Insurance: Change in an Uncertain Market......................................6
A Framework for Managing Mobile Technologies.......................................9
Thin Margins, Lower Fees, and Channel Shifts..........................................11
How Versus Why................................................................................................12
The Simple Logic of Mobile Technology......................................................13
No One Said It Would Be Easy.........................................................................14
2012 Bank Performance Study.......................................................................17
Life and Annuity Industry Outlook: Planning for Success in 2012.........18
Mobile Technology: Bank on the Unexpected...............................................22
Improving Self-Dispatch with New Tools.................................................24
A Toast to the New Year.................................................................................26
Nolan Events........................................................................................................27
First Quarter 2012Vol. 39 No. 1
4. 18
Steve Callahan
Practice Development Director
steve_callahan@renolan.com
At the start of 2011, the industry and economy were
reaching the end of several tumultuous years. The coming
months were seen with great uncertainty. At that time
I wrote an article titled “Achieving Success in the New
Normal” for Nolan’s first quarter newsletter; employing the much-used
phrase “New Normal” to describe the material shift in economic conditions
seemingly here to stay. As far as accuracy goes, the year panned out just
about as expected.
Entering 2012, it is again time to project how the life and annuity industry
might perform. It is with humorous transparency that I have to admit that,
in doing the research, I came across Lake Superior State University’s 2012
List of Banished Words (www.lssu.edu/banished/current). Holding position
#7 on the list? “The New Normal” which, according to LSSU, is banished
because:
“…it is often used to justify bad trends in society and to convince
people that they are powerless to slow or to reverse those trends…
More often, it is used to describe the sorry state of the U.S.
economy…Robert Brown, Raleigh, North Carolina.”
Last year, Nolan Chairman and CEO Dennis Sullivan wrote an
introduction to this quarterly newsletter titled “Troubled by the New
Normal?” and it included these comments:
“Are you as tired of hearing the phrase “new normal” as I am?
The "new normal" is just another catchphrase that makes for good
headlines and negative articles lamenting the glass as being half
empty. You have two choices in business: accept mediocrity or find
a solution to a better way.”
Dennis was right and perhaps his straightforward point helped put “new
normal” in its rightful place on a list of banished words.
Whatever the label, 2012 brings many of the same challenges that,
even with mild economic improvement, are equally difficult to deal with
this year as last. Unemployment, a direct impact to available buyers, will
continue to be an issue. Projections suggest it may take until 2018 to return
to around 5% (taken from late 2011 White House estimates). Combined
5. 19
with expected economic growth under 3% and Fed Funds rates holding at 0%
for the year, the pressure on earnings will remain intense as investment spreads
continue to compress, especially as older portfolios mature and are replaced by
lower returns. Amplifying the pressure is increased regulation, the impact of
enhanced adequacy analysis, and cash flow testing.
No surprise to industry leaders, 2012 will bring strife coupled with tough
decisions and measured trade-offs, even as economic conditions gradually
improve. Consumers face lost asset value, investment uncertainty, unclear
healthcare costs, and an increased need for retirement income as Baby Boomers
find themselves with materially less than expected. All the while, as LIMRA
research indicates, there remain over 58 million households underinsured. The
net result is an industry that finds itself:
• Dealing with inforce blocks of business offering guaranteed rates
higher than portfolio earnings;
•
for stable and affordable life and annuity products with integrated
guarantees; and
• Managing expense pressures that primarily consist of technology
demands and workforce costs, while delivering on constant increases
in service expectations.
Wise leaders know that sustainable growth is best achieved by a strategic
focus on developing innovative sources of additional revenue; the top line offers
the greatest opportunity for leverage. Still, the tendency for short-term expense
reduction continues to drive some decisions, particularly in stock companies
facing shareholder demands. Unfortunately, at this stage, more often than not
additional reductions end up cutting more organizational muscle than actual
surplus. Companies are already running lean due to several continuous years of
process improvements, outsourcing, streamlining, vendor consolidations, and
organizational flattening.
What alternatives exist to offset the pressure for expense reduction and create
a sustainably profitable business? First, companies must recognize the strategic
value of intellectual capital as the foundation of innovation and world-class
service, an oft-missed reality when budget cutting time comes around. Market
growth and consumer loyalty will come from sales and service experiences more
than product features. Remember, insurance and annuities are still sold and not
purchased, which means the intermediaries between carrier and client—like
agents and service representatives—can direct attention towards the total value
proposition versus simple price or feature trade-offs.
6. 20
With that in mind, a number of factors should be thoroughly reviewed for
potential inclusion in a life and annuity carrier’s 2012 action plans:
• Evaluating global opportunities to swap books of business,
selectively acquire or divest subsidiary lines, or enter into unexplored
international markets;
• Developing innovative solutions targeted at the over 29 million
LIMRA research, control over $880 billion in assets;
•
established channels while at the same time creating alternative
buying opportunities to reach untapped or underserved market
segments;
• Investing in service operations to improve the knowledge, skills,
and resources available to front-line staff, enabling them to deliver
exceptional service that in turn creates a competitive advantage; and
• Imposing a rigorous discipline in determining where to invest time,
money, and resources, and then incorporating multiple go / no-go
milestones along with a hard validation of return on those chosen.
Some of these factors may be easily dismissed at the surface, such as the
regional carrier who immediately dismisses the global opportunities arena.
However, it would be wise to keep an eye out before becoming a target of
interest to an international company which does employ this strategy. Similarly,
expending material efforts on redesigning term life products, for example, would
be inconsistent with the second factor given the real potential is in universal life
and retirement annuities. Better yet, via the third factor; find a way to affordably
deliver coverage to the underserved middle market utilizing new technologies
in conjunction with trusted advisors cost effectively.
Thedrumbeatforcompetitiveadvantagebeingachievedbyexcellingatservice
continues to beat louder and louder—companies failing to hear this demand
will miss the chance to build market loyalty through individualized, exceptional
service experiences. Lastly, sifting through myriad new technologies, balancing
these needs with legacy systems demands, and determining how to optimize
the ever-limited technology budget to maximize impact on business value will
require even greater attention than ever. This is especially true as the visual
appeal of all the options can be overwhelming. Rigor, discipline, and focus must
be applied to carefully select and then stay the course through implementation
of the chosen solutions.
7. 21
In his opening address at LIMRA’s 2011Annual Meeting, Bob Kerzner clearly
stated the industry’s greatest challenge given all of the above: innovatively
changing the way insurance is communicated, sold, and serviced. In 2012 the
focus must move towards true innovation despite the chaos of challenges and
competing resource demands. Time moves fast. 2013’s market leaders will be
those who find a way to look to the future while tending to the present; no small
task.
By the way, being a persistent Type-A, I took some time to see if I was the
only colleague to fall prey to catchphrase use. While I admit it is a bit of a stretch,
one much esteemed top executive, known for being ahead of the knowledge
curve, used the term “Cone of Uncertainty” in 2008, a phrase at Position 6 on
Time Magazine’s 2011 Top 10 Buzzwords. Having been three years ahead of the
curve, he should be in the catchphrase hall of fame.
Interested in greater detail on the life and annuity industry’s 2012 forecast?
Take a look at the January 2012 edition of LOMA Resource Magazine for
“Forecast 2012: A Closer Look.” I would be pleased to provide additional
insights and background on the projections, as well as ideas on how best to
address the challenges our industry faces. Please contact me at steve_callahan@
renolan.com. I would enjoy the exchange.