Unbundling the Insurance Value Chain - Disruption in the Insurance Sector - The 7th. International Istanbul Insurance Confrence - Prof. Dr. Selim YAZICI (2016)
Unbundling the Insurance Value Chain - Disruption in the Insurance Sector - The 7th. International Istanbul Insurance Confrence - Prof. Dr. Selim YAZICI (2016)
Modernizing the Insurance Value Chain: Top Three Digital ImperativesCognizant
As nontraditional companies enter the insurance scene and insurtechs launch novel products, incumbents need to accelerate innovation and differentiate the customer journey to remain in the game. Here are three strategies to achieve these goals, with a brief look at a few companies well on their way.
Today's customers are fundamentally different from customers of past years as they are harder to acquire, retain, and delight because of the explosion in digital technologies consumers use day to day. New digital experiences are forcing banks to play catch-up and match the innovative and engaging interactions and products — such as mobile payments — that non-banks are offering to those same customers. This IDC research, sponsored by TCS Digital Software & Solutions Group, revealed three key themes for digital transformation in the banking industry.
The transformation to a Digital Insurer is complex as it changes the foundation of the organization. Complicating factor is the fast speed of digital innovation in the market and the current digital structure of the organization not able to deal with these changes. The digital transformation is however inevitable and mistakes will create a bigger gap, resulting in business deterioration. In this presentation a vision on Digital Insurance transformation is explained and more information is available to support a digital transformation process in a specific organization.
Modernizing the Insurance Value Chain: Top Three Digital ImperativesCognizant
As nontraditional companies enter the insurance scene and insurtechs launch novel products, incumbents need to accelerate innovation and differentiate the customer journey to remain in the game. Here are three strategies to achieve these goals, with a brief look at a few companies well on their way.
Today's customers are fundamentally different from customers of past years as they are harder to acquire, retain, and delight because of the explosion in digital technologies consumers use day to day. New digital experiences are forcing banks to play catch-up and match the innovative and engaging interactions and products — such as mobile payments — that non-banks are offering to those same customers. This IDC research, sponsored by TCS Digital Software & Solutions Group, revealed three key themes for digital transformation in the banking industry.
The transformation to a Digital Insurer is complex as it changes the foundation of the organization. Complicating factor is the fast speed of digital innovation in the market and the current digital structure of the organization not able to deal with these changes. The digital transformation is however inevitable and mistakes will create a bigger gap, resulting in business deterioration. In this presentation a vision on Digital Insurance transformation is explained and more information is available to support a digital transformation process in a specific organization.
Digital Transformation From Strategy To ImplementationScopernia
Creating a digital transformation strategy is one thing but how do you put the insights and plans into practice. This presentation deals with vision, strategy, roadmap, governance, leadership, channel hacking, start-up-thinking and many more issues.
Going Digital: The Banking Transformation Road MapSemalytix
The leaders in digital banking are more client-centric, tech-savvy, and inclusive—and are fundamentally changing to deliver the best results.
Most banks today want to become digital banking leaders—after all, that's where the customers are. And for much of the past decade as digital banking has taken hold, most leading traditional banks have incorporated strong digital strategies.
So what separates the digital banking leaders from the laggards? A new A.T. Kearney study on digitization, in conjunction with Efma, seeks the answer and finds three main findings: the leaders understand the importance of mobile in a digital strategy, they are developing more agile operating models, and, most notably, they have tackled the need for internal culture shifts (see sidebar: About the Study).
With top-down implementation, these leaders have set their paths toward becoming more client-centric, more tech-savvy, and more inclusive. As the market evolves even more rapidly through the end of the decade, all banks will have to adapt to a disruptive model in people and IT—the two engines of retail banking—and must fundamentally adapt to deliver the best results.
This paper looks at the trends and the path forward.
The Evolving Digital Journey
Most banks began their digital journey years ago and have clear digital strategies, yet even those are facing major changes. In particular, as more customers use their mobile phones and tablets to do their banking, and omnichannel takes hold in financial services, the mobile experience is becoming a crucial aspect of digital strategy that banks must address.
Secondly, to keep up in this fast-changing market, traditional banks will have to adapt their operating models. In particular, changes in IT, new products and services development, and changing expectations for time-to-market will be key factors going forward.
Perhaps the most important step, however, is that banking in the digital age requires a drastic, profound reset of how banking staff reacts to customer needs. This means thinking customer first, rather than by channel; as one panelist puts it, "Banks think in channels, but customers don't." It means being conscious that small digital players can gain market share faster and in a manner that is more disruptive to traditional banks' models. It means understanding that organizational silos pose significant obstacles to creating new solutions for customers. Most importantly, it means looking inward, changing organizational beliefs and habits to facilitate clients and drive digital innovation.
A new spirit of banking—led by top executives—will lead the way to addressing market changes, becoming more agile, and improving openness in day-to-day business.
- See more at: http://www.atkearney.com/latest-article/-/asset_publisher/lON5IOfbQl6C/content/going-digital-the-banking-transformation-road-map/10192?_101_INSTANCE_lON5IOfbQl6C_redirect=#sthash.oKsJGij3.dpuf
The full potential of insurance telematicsMatteo Carbone
Auto telematics represents the most mature insurtech use case, as it has already passed the test and experimentation phase within the innovation unit. It is currently being used an instrument for daily work within motor insurance business units. In this domain, Italy is an international best practice example
A.T. Kearney Consolidation of the US Banking IndustryKearney
More and more banked consumers are migrating from small to large banks, flagging the accelerated consolidation of the retail banking industry in the years to come.
We are all consumers of financial services more or less. We have bank accounts, possibly life insurance, some of us have credit cards, some of us have fixed deposits, some of us may be doing share trading and investment, some of us are borrowers of loans. These are all financial services. Financial Technology or FinTech is a way of delivering or improving the delivery of financial services using technology and innovation.
The use of smartphones and internet to improve the services in banking, investing, lending and borrowing etc are examples of technologies aiming to make financial services more accessible to the people. The use of Artificial intelligence, Machine learning, Blockchain, Cryptocurrency etc are redefining the way we are used to receiving financial services. FinTech is an emerging industry. Startups, established financial institutions as well as technology companies are disrupting this space to replace or enhance the usage of currently existing financial services.
In this video we will restrict ourselves to the usage of AI in FinTech.
We will learn about different areas where FinTech is already serving a great deal.
We will learn about the areas where we look forward to seeing more disruptions and innovations to make financial services more secure and accessible to the general public.
Data has always played a central role in the insurance industry, and today, insurance carriers have access to more of it than ever before. We have created more data in the past two years than the human race has ever created. Insurers—like organisations in most industries—are overwhelmed by the explosion in data from a host of sources, including telematics, online and social media activity, voice analytics, connected sensors and wearable devices. They need machines to process this information and unearth analytical insights. But most insurers are struggling to maximise the benefits of machine learning.
Top 8 digital transformation trends shaping 2021run_frictionless
In a world that’s increasingly dependent on digital, IT’s role is more critical than ever. To meet rising demands, organizations are accelerating their digital transformation. This report identifies the top 8 technology trends that will face CIOs, IT leaders, and organizations in their digital transformation journey in 2021.
https://runfrictionless.com/b2b-white-paper-service/
Diving deep into literally millions of interactions and conversations with different networks such as Facebook, Twitter and Instagram, blogs, forums and news sites in order to bring you analytical info about how social media affects different sectors like:Sharing Economy, Banking and Finance, Ecommerce, Telecom and Fintech.
By taking a ‘rapid-fire’ directional approach, public service organizations can quickly identify key issues and insights that reveal new potential value or even suggest a beneficial change in strategic direction. Learn more about Unplanned Analytics and the FASTT Methodology
Embedded Finance - the $7 Trillion market opportunitySimon Torrance
Embedded Finance is a new way for companies across all sectors to create and capture more value. It allows any brand to create and sell attractive financial services (payments, credit, insurance, investments, savings) either as invisible native components of, or add-ons to, their customer experiences. This helps them to increase loyalty and/or generate new high margin revenue in new ways. For the (software) companies who enable Embedded Finance, this offers a very exciting new market.
Digital financial services (DFS) are rapidly rewriting the landscape of financial access in developing markets. This deck is meant to serve as a primer to the DFS space by explaining the basic concepts and strengths of DFS models; showing how they are so successful because they correspond to the weaknesses of traditional delivery; and showcasing some of the next generation of DFS products in order to illustrate that this is just the beginning of a cross-sectoral revolution of access.
Digital Transformation From Strategy To ImplementationScopernia
Creating a digital transformation strategy is one thing but how do you put the insights and plans into practice. This presentation deals with vision, strategy, roadmap, governance, leadership, channel hacking, start-up-thinking and many more issues.
Going Digital: The Banking Transformation Road MapSemalytix
The leaders in digital banking are more client-centric, tech-savvy, and inclusive—and are fundamentally changing to deliver the best results.
Most banks today want to become digital banking leaders—after all, that's where the customers are. And for much of the past decade as digital banking has taken hold, most leading traditional banks have incorporated strong digital strategies.
So what separates the digital banking leaders from the laggards? A new A.T. Kearney study on digitization, in conjunction with Efma, seeks the answer and finds three main findings: the leaders understand the importance of mobile in a digital strategy, they are developing more agile operating models, and, most notably, they have tackled the need for internal culture shifts (see sidebar: About the Study).
With top-down implementation, these leaders have set their paths toward becoming more client-centric, more tech-savvy, and more inclusive. As the market evolves even more rapidly through the end of the decade, all banks will have to adapt to a disruptive model in people and IT—the two engines of retail banking—and must fundamentally adapt to deliver the best results.
This paper looks at the trends and the path forward.
The Evolving Digital Journey
Most banks began their digital journey years ago and have clear digital strategies, yet even those are facing major changes. In particular, as more customers use their mobile phones and tablets to do their banking, and omnichannel takes hold in financial services, the mobile experience is becoming a crucial aspect of digital strategy that banks must address.
Secondly, to keep up in this fast-changing market, traditional banks will have to adapt their operating models. In particular, changes in IT, new products and services development, and changing expectations for time-to-market will be key factors going forward.
Perhaps the most important step, however, is that banking in the digital age requires a drastic, profound reset of how banking staff reacts to customer needs. This means thinking customer first, rather than by channel; as one panelist puts it, "Banks think in channels, but customers don't." It means being conscious that small digital players can gain market share faster and in a manner that is more disruptive to traditional banks' models. It means understanding that organizational silos pose significant obstacles to creating new solutions for customers. Most importantly, it means looking inward, changing organizational beliefs and habits to facilitate clients and drive digital innovation.
A new spirit of banking—led by top executives—will lead the way to addressing market changes, becoming more agile, and improving openness in day-to-day business.
- See more at: http://www.atkearney.com/latest-article/-/asset_publisher/lON5IOfbQl6C/content/going-digital-the-banking-transformation-road-map/10192?_101_INSTANCE_lON5IOfbQl6C_redirect=#sthash.oKsJGij3.dpuf
The full potential of insurance telematicsMatteo Carbone
Auto telematics represents the most mature insurtech use case, as it has already passed the test and experimentation phase within the innovation unit. It is currently being used an instrument for daily work within motor insurance business units. In this domain, Italy is an international best practice example
A.T. Kearney Consolidation of the US Banking IndustryKearney
More and more banked consumers are migrating from small to large banks, flagging the accelerated consolidation of the retail banking industry in the years to come.
We are all consumers of financial services more or less. We have bank accounts, possibly life insurance, some of us have credit cards, some of us have fixed deposits, some of us may be doing share trading and investment, some of us are borrowers of loans. These are all financial services. Financial Technology or FinTech is a way of delivering or improving the delivery of financial services using technology and innovation.
The use of smartphones and internet to improve the services in banking, investing, lending and borrowing etc are examples of technologies aiming to make financial services more accessible to the people. The use of Artificial intelligence, Machine learning, Blockchain, Cryptocurrency etc are redefining the way we are used to receiving financial services. FinTech is an emerging industry. Startups, established financial institutions as well as technology companies are disrupting this space to replace or enhance the usage of currently existing financial services.
In this video we will restrict ourselves to the usage of AI in FinTech.
We will learn about different areas where FinTech is already serving a great deal.
We will learn about the areas where we look forward to seeing more disruptions and innovations to make financial services more secure and accessible to the general public.
Data has always played a central role in the insurance industry, and today, insurance carriers have access to more of it than ever before. We have created more data in the past two years than the human race has ever created. Insurers—like organisations in most industries—are overwhelmed by the explosion in data from a host of sources, including telematics, online and social media activity, voice analytics, connected sensors and wearable devices. They need machines to process this information and unearth analytical insights. But most insurers are struggling to maximise the benefits of machine learning.
Top 8 digital transformation trends shaping 2021run_frictionless
In a world that’s increasingly dependent on digital, IT’s role is more critical than ever. To meet rising demands, organizations are accelerating their digital transformation. This report identifies the top 8 technology trends that will face CIOs, IT leaders, and organizations in their digital transformation journey in 2021.
https://runfrictionless.com/b2b-white-paper-service/
Diving deep into literally millions of interactions and conversations with different networks such as Facebook, Twitter and Instagram, blogs, forums and news sites in order to bring you analytical info about how social media affects different sectors like:Sharing Economy, Banking and Finance, Ecommerce, Telecom and Fintech.
By taking a ‘rapid-fire’ directional approach, public service organizations can quickly identify key issues and insights that reveal new potential value or even suggest a beneficial change in strategic direction. Learn more about Unplanned Analytics and the FASTT Methodology
Embedded Finance - the $7 Trillion market opportunitySimon Torrance
Embedded Finance is a new way for companies across all sectors to create and capture more value. It allows any brand to create and sell attractive financial services (payments, credit, insurance, investments, savings) either as invisible native components of, or add-ons to, their customer experiences. This helps them to increase loyalty and/or generate new high margin revenue in new ways. For the (software) companies who enable Embedded Finance, this offers a very exciting new market.
Digital financial services (DFS) are rapidly rewriting the landscape of financial access in developing markets. This deck is meant to serve as a primer to the DFS space by explaining the basic concepts and strengths of DFS models; showing how they are so successful because they correspond to the weaknesses of traditional delivery; and showcasing some of the next generation of DFS products in order to illustrate that this is just the beginning of a cross-sectoral revolution of access.
Similar to Unbundling the Insurance Value Chain - Disruption in the Insurance Sector - The 7th. International Istanbul Insurance Confrence - Prof. Dr. Selim YAZICI (2016)
Fintech in insurance. Focus on RoboAdvice - Changing the face of wealth management landscape on back of trend of “self-service”, disintermediation, automation spurred by the internet.
Artificial intelligence (AI) currently being used by insurance companies has failed to remove gender bias from the profession’s claims, underwriting and marketing processes.
A Chartered Insurance Institute (CII) report tells insurers they must tackle these gender biases. The report found that the datasets used to train the algorithms which support AI systems are rooted in outdated gender concepts. Algorithms learn by being trained on historic data but the report notes more and more of that data is now unstructured, coming from text, audio, video and sensors.
Yet the report warns embedded in that historic data are decisions based upon historic biases, particularly around gender. The report concluded insurance firms need to prepare a structured response to this issue, starting with visible leadership on tackling gender bias in AI.
How an insurer can stay relevant in the age of dataMatteo Carbone
Irrelevancy is only a choice for an Insurer, not his inevitable destiny. Insurtech can make the insurance sector stronger and therefore more capable of achieving its strategic goal: to protect the way people live.
IoT is a terrific opportunity for the insurance sector.
But the average understanding of this opportunity in the different markets is low, and it is common to hear superficial comments by analysts in the various markets.
Let's demystify some myths!
The Singapore FinTech Consortium - Introduction to InsurTechFinTech Consortium
When you hear of “insurance”, the words “innovation” and “technology” would not come to mind intuitively – but they should now. At this day and age, insurance technology has the potential to affect nearly every essential insurance function, ranging from distribution methods to actuarial number crunching. InsurTech is now being implemented across every stage of the insurance value chain.
InsurTech 2016 Conference is a global gathering of the world's leading thinkers and doers in Insurance innovations and technology. It's a gathering of the planet's businesses, large and small, who are being impacted by new innovations to want to meet the demands of the insurance market.
This year, over 300 attendees will make the trip from all corners of the globe to hear from 80 industry thought leaders who will deliver the knowledge you're looking for to succeed in this arena.
InsurTech 2016 will assure that you meet the top insurance and technology professionals - leading 22 interactive and insightful sessions across all the insurtech spectrum, including:
Digital distribution channel
Blockchain
Data Analytics
Wealth Management
IoT & Telematics
Auto Tech
Health Tech & Wearables
Book your delegate ticket now for additional 15% Discount @ http://bit.ly/2bmXVxG
The emergence of insurtech (insurance+technology) companies has leveled the playing field for new entrants looking to enter this space by providing innovative solutions and offering innovative services.
Onramp key takeaways:
1) Same Insurtech brutal truths
2) The future of the Insurers will be insurtech
3) Reasons why for adopting IoT in the insurance sector
4) The IoT Insurance Observatory mission
If you want to learn more about technology in insurance visit: www.agencyheight.com
Insurance agents struggle to generate quality leads and this is where agency height directory helps agents step up their insurance game. Visit: https://agencyheight.com/add-listing/
This slide is all about technology in insurance while it also tries to cover the following subject:
-robotic process automation in insurance
-new technology in insurance
- insurance trends
Our research experts have worked hard to curate this video based on some valuable points that are included in our original blog. If you want to reach more about insurance, visit our website.
What Lies Beyond Digital for Insurance Bionic Operations? Alberto Garuccio
Insurtech issue #43 Techstars Startup Digest. If you are interested in reading the digital version or subscribing visit >> https://www.getrevue.co/profile/startupdigest-insurtech
The future of insurance distribution: New models for a digital customerAccenture Insurance
This report argues that incumbents need to embrace digital disruption, form partnerships and adopt innovative technologies to improve customer engagement and create new opportunities for growth. It introduces five new distribution models that insurers should consider, as well as six ‘lenses’ through which they can be evaluated.
Your insurance clients know that far-sighted players are already confronting the future of insurance distribution. Use this report to help them assess their options.
Similar to Unbundling the Insurance Value Chain - Disruption in the Insurance Sector - The 7th. International Istanbul Insurance Confrence - Prof. Dr. Selim YAZICI (2016) (20)
CAT Management From Insurance Perspective - Turkish Natural Catastrophe Insurance Pool - VI. International Istanbul Insurance Conference - Musa Alphan Bahar (2014)
The Benefit Of Technology In Claims Handling & Underwriting - Save The Date - VII. International Istanbul Insurance Conference Insurance Practitioners' Association - Oto Sigortaları Workshop (2015)
Use Of Geospatial Tools And Data For Underwriting And Claims - Turkish Insurance Conference on Technology Advances For Underwriting And Claims - Matthew Eagle (2015)
Developing and Deploying Analytics To Improve The Performance Of Commercial Portfolios - VII. International Istanbul Insurance Conference - David Ovenden (2015)
NO1 Uk Rohani Baba In Karachi Bangali Baba Karachi Online Amil Baba WorldWide...Amil baba
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
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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.
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
NO1 Uk Divorce problem uk all amil baba in karachi,lahore,pakistan talaq ka m...Amil Baba Dawood bangali
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
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
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
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.
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.
Monthly Economic Monitoring of Ukraine No. 232, May 2024
Unbundling the Insurance Value Chain - Disruption in the Insurance Sector - The 7th. International Istanbul Insurance Confrence - Prof. Dr. Selim YAZICI (2016)
1. Unbundling the
Insurance Value Chain
Disruption in the Insurance Sector
The 7th. International
Istanbul Insurance Conference
Prof. Dr. Selim YAZICI
Istanbul University
FinTech Istanbul
October 6, 2016
2. Short Bio – Prof. Dr. Selim YAZICI
ContactInformation
Selim@FinTechIstanbul.org
https://www.linkedin.com/in/selimyazici
Email:
LinkedIn:
Twitter: @selimyazici @FinTechIstanbul
5. Insurance CEOs feel more vulnerable to technological
disruption than other industries’ CEOs
PwC 2015 CEO Survey
*automotive, retail, asset management, power & utilities, entertainment, pharma & lifescience, healthcare, and hospitality & leisure
6. What are your organization’s biggest opportunities in the next 2 years?
7. Today’s Key Questions?
1. What are the emerging innovations effecting the Financial Services?
2. How will they impact the ways in which the Insurance Industry is
structured and doing business?
3. How will you respond to those challenges?
10. FinTech
• FinTech is the use of technology to make
financial services more efficient
• Innovation in financial services using
technology
• Disruptive???
• FinTech companies are generally startups,
trying to disintermediate incumbent
financial systems and challenge traditional
corporations that are less reliant on
software.
12. World Economic Forum - Davos 2016
“The Fourth Industrial Revolution”
“The most imminent effects of disruption will be felt in the
banking sector; however, the greatest impact of disruption is
likely to be felt in the insurance sector”
Session: The Transformation of Finance
Topic: Digital Economy
Report: The Future of Financial Services
13. Disruptive Innovation in
Financial Services
• 6 Functions of Financial Services
• 11 Clusters of Innovation
Six Cross-functional Themes Touching
Multiple Cluster
1. Streamlined Infrastructure
2. Automation of High-Value Activities
3. Reduced Intermediation
4. Strategic Role of Data
5. Niche, Specialized Products
6. Customer Empowerment
14.
15. Drivers for InsurTech
• Innovations
• Technology
• Web
• Mobile
• Big Data
• Connected Devices (Cars, Homes, Lifestyles)
• Smarter, cheaper sensors
• IoT (Internet-of-Things)
• Communication Protocols
• Advanced Analytics
• Better Understand the Customer
• Millennials (Digital Natives)
• Needs
• Expectations
• Anywhere, anytime
• Simple
• Quick
• Reliable
• DIY (Do It Yourself)
16. Drivers for InsurTech - Technology
• Artificial Intelligence
• Connected Devices (IoT – Internet of
Things)
• Telematics
• Wearables
• Household appliances
• Drones
• Remotely controlled, Unmanned vehicles
• Risk Management and Claims Management
• For objects and large areas from a distance
• New Payment Methods
• Mobile
• Bankless money transfers
• Blockchain Technology
• Timestamped data blocks
• Validate data and keep it safe from alteration or
tampering
• Roboadvisors
• Underwriting
• Risk Assessment
• Automated Insurance
• Digit
• Acorns
19. What do InsurTech StartUps Provide?
• New Product/Service
• Mobile apps offering digital management and optimization of consumers’ insurance policies
across multiple providers
• Free for consumers, receives brokerage fees from insurers
• Innovation
• Easy and seamless integration of users’ insurance policies in the app
• Automatically discovers potential savings and optimization of insurance coverage
• Innovative distribution channels
• Provide technology to reduce risk/number of claims
• Ease of Use (Customer Experience)
• User-friendly solutions
• Consumer interaction
• Reach underserved markets
• Younger generations
• First-time insurance seekers
• Cost Savings
• Both for consumers and insurance company
• Lower cost of claims processing
20. InsurTech Categories
• Product Insurance —These companies offer insurance/warranties for products that you purchase, from tech gadgets to diamonds.
• Auto Insurance — These companies offer car insurance, including car telematics products which detect your mileage and driving behavior to
customize your insurance plan.
• Health/Travel insurance—These companies offer health or travel insurance, either for individuals or for businesses.
• Life, Home, Property & Casualty Insurance — These companies offer life, home, and property & casualty insurance, as well as other kinds of
insurance such as renters, disability, and marriage insurance.
• Enterprise Insurance —These companies offer insurance plans for businesses, startups, freelancers, etc.
• Insurance Comparison/Marketplace — These companies serve as a marketplace for consumers to buy insurance of any kind (car to home to
health), or compare different insurance providers. These are 3rd party companies that don’t offer insurance plans themselves, but act as a
brokerage agent between insurance providers and consumers.
• Reinsurance—These companies provide insurance for other insurance companies.
• P2P Insurance — These companies offer peer-to-peer insurance, in which a group of policyholders jointly pay for the insurance of an item that
they mutually own, share, or rent (a car, a house, media equipment, etc).
• Insurance Data/Intelligence– These companies collect, process, and analyze data analytics and business intelligence for the insurance
industry.
• Insurance User Acquisition—These companies help insurance companies acquire and manage new leads and clients.
• Insurance Infrastructure/Backend — These companies help insurance companies with their day-to-day operations, including CRM for agents
and lawyers, communication tools, claim filing tools, etc.
• Insurance Investors/Education — These companies are investment firms that specifically invest and incubate new insurance companies,as
well as resources that give information about how insurance works
• Consumer Insurance Management Platforms — These companies offer platforms that enable consumers to manage their insurance and
claims, including mobile apps that allow them to file claims right at the spot of the caraccident.
28. The Spectrum of InsurTech Business Models
1. Distribution
2. Enterprise
3. Mutual
4. Consensus
5. Engagement
6. Experience
7. Data
29. Distribution
• Distribution is all about making insurance easier to buy, consume,
understand and relevant.
• They put the customer first and build their insurance proposition from the
customer out (unlike incumbents who organize their business around
internal capabilities).
• These startups are all about the customer and their propositionsare
characterized by convenience, on-demand, personalization and
transparency (and of course, digital).
• Examples:
• Bought by Many
• Knip
• Cuvva
• PolicyGenius
• Moneymeets
30. Enterprise Platform Solutions
• A new breed of enterprise class software providers.
• Software as a Service (SaaS) platforms running on the cloud. They
have consumption based pricing models that replace the traditional
$million up front license fee and multi-year implementation.
• Examples:
• Vlocity
• Insly
• Surely
• Riskmatch
• Zenefits
31. Mutual (P2P)
• P2P (Peer to Peer) business models return insurance to its roots of
mutualization and community.
• The model relies on the notion that social grouping and affinity will
change behavior and address moral hazard (thereby reducing claims
payouts and premiums).
• The question of scalability still hangs over P2P insurance but if it succeeds
as a business model, it could form the foundation of a new breed of
insurer.
• Examples:
• Friendsurance
• Guevara
• Lemonade
• Uvamo
• Gaggel
• TongJuBao
32. Consensus
• Blockchain technology will fundamentally change the way the
insurance industry works (as well as banking and society).
• The promise is huge although as yet, unproven.
• From smart contracts to identity authentication, from fraud
prevention to claims management, blockchain technology will
provide the underlying technology foundations for a trustless
consensus that is transparent to all parties.
• Examples:
• Everledger
• Tradle
• SmartContract
• Dynamis
• Blockverify
33. Engagement (Customer Lifestyle)
• The most significant characteristics from InsurTech in personal lines.
• The product becomes integrated in the customer’s lifestyle. It
becomes sticky and overrides the annual buying exercise where price
is the key buying criteria.
• Digital natives are responding well to lifestyle apps that sit on top of
the underlying insurance product.
• Examples:
• Oscar
• Vitality
• Trov
34. Experience
• The true value of insurance is only realized when the customer makes
a claim.
• New tech solutions that improve the customer journey through the
claims process will not only improve the customer experience, they
will also reduce the cost of claims and claims payouts.
• Examples:
• 360Globalnet
• RightIndem
• Tractable
• Vis.io
• Roundcube
35. Data (Risk Management)
• This is all about new sources of data to rate and underwrite risk.
• This is about using data science, machine learning, artificial intelligence
and high performance computing to process data in completely new ways.
• Whilst Distribution is vital to change the way customers interact with
insurers, it is the data players that hold the key to fundamental change in
the way insurance is manufactured.
• Examples:
• Quantemplate
• Analyze Re
• Meteo Protect
• The Floow
• Fitsense
• Influmetrics
• RiskGenius
39. Start-up Boosters
• Axa
• Kamet 100 M Euro InsurTech Incubator
• AXA Lab (San Francisco, Shanghai)
• AXA Strategic Ventures (ASV) Venture
Capital Firm (Investment Structure)
• AXA Factory
• DIL
• Allianz
• Digital Accelerator
• Aegon
• Kroodle
• Swiss Re
• InsurTech Accelerator - Bangalore
40. InsurTech Focused Accelerators
• Startupbootcamp in London
• Global Insurance Accelerator in Des Moines, USA (about to start it’s
second cohort)
• Mundi Lab announcing its startups for their insurance program in
Madrid
44. How will you respond?
• Digitally Enhanced Customer Experiences
• Understand customer behaviors and needs
• Omnichannel Sales and Distribution Model
• Create an online and mobile presence
• Optimizing Operations Using Digital Technologies
• Redesign the organization to be a digitalized business
• Advanced Analytics and Big Data Applied Throughout the Organization
• Use big data analytics for business decisions
• Start Digital Transformation
• Align IT spendings to focus on strategic issues
• An Innovation-ready Organization
• Cultivate the right capabilities and culture for innovation
Customers
Processes
Mindset
45. Conclusions
• 4tn USD Global Insurance Industry
• The entire insurance value chain will be transformed by technological
innovations such as artificial intelligence, connected devices, drones, new
payments, and the Blockchain.
• Entirely new value propositions and distribution methods will be enabled.
• There is a huge market for startups and incumbent insurers that embrace the
new technologies.
• Relative to the market’s size I feel confident that InsurTech startups will have
more funding than they have thus far.
• Tocapture this vast opportunity startups and incumbent insurers need to
establish effective cooperation models, leveraging each party’s key strengths.
• While one-third of these startups can be seen as disruptive to incumbent
insurers, most enable existing insurers to harness technology.
• Thus, insurers have much to gain from fruitful collaboration with startups.
