In the latest installment of our monthly financial services update, we take a look at the upcoming launch of the Federal Reserve's instant payment system, banking results for the first quarter and disruption in the reinsurance sector. FedNow set to modernize nation’s payment system The Federal ... READ MORE >
insurance
As insurtech investment dips, companies get boost by teaming with traditional insurers
Insurance technology startups (insurtechs) have been disrupting the insurance industry for several years, offering customers on-demand products and streamlined services driven by technological advancements. The traditional insurance industry provided the perfect landscape for insurtech disruption as the ... READ MORE >
Accounting for climate risks in business decisions
After a slow start, hurricane season has taken a significant toll in North America this year. Hurricane Fiona devastated Canada’s Atlantic provinces, leaving hundreds of thousands of people without power. Less than a week later, Hurricane Ian laid waste to vast areas of Florida and the Southeastern United ... READ MORE >
3 priorities for insurers in the future of work: Spring 2022 outlook
At a glance A confluence of pressures is forcing many insurance companies to reinvent their traditional operating models. Insurers are modernizing their legacy systems, creating connected networks across the enterprise, and expanding their vendor partnerships, all while improving employees’ work ... READ MORE >
How process intelligence can make insurers more efficient
Insurance companies have seen the shift to online self-service go mainstream over the last year and a half, and are now at a point where they must pivot if they want to meet the evolving demands of today’s customers. In order to do so, it is paramount that insurers harness technologies that will enable ... READ MORE >
Insurance industry girds for major impact from coronavirus
The coronavirus pandemic has turned everyday life upside down for nearly every American. Many schools have closed and in certain areas residents have been ordered to stay in their homes. As its impact is felt across the economy, the insurance industry will not be spared. Some of the effects will be felt ... READ MORE >
Opportunities for insurers in a low yield bond environment
Lower yields on bonds, underscored by an inverted yield curve and 10-year rates below 2%, are cause for insurance companies to reevaluate their fixed-income investment positions. Due to their higher reinvestment frequency, property and casualty, and health insurers, should be more reactive to lower yields ... READ MORE >
Innovation is now part of the insurance ratings mix
Innovation appears to have reached the risk-averse insurance industry. A few weeks ago A.M. Best issued a press release seeking comment on draft criteria for scoring and assessing innovation at the insurance companies it rates. “A.M. Best has captured innovation indirectly through the various building ... READ MORE >