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E.g., 2022-06-24
E.g., 2022-06-24
May 23, 2022
Fighting financial crime always feels like an uphill battle. Fraudsters, money launderers, and terrorists never stand still. They evolve, constantly seeking new ways to commit their crimes. Digital acceleration, growing adoption of faster payments, and increasing consumer expectations for friction-free experiences have all expanded the wealth of opportunities for exploitation. For financial...
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May 19, 2022
Aite-Novarica Group’s Insurance practice recently facilitated a Special Interest Group meeting focused on group and voluntary benefits. Our Special Interest Groups are confidential knowledge-sharing meetings tailored to specific lines of business where our team shares recent research and participants discuss industry trends. This latest session focused on issues carriers in this highly...
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May 17, 2022
How did you get into insurance? When I left high school, I started out doing manual labor type jobs. I wanted something less physical, so I found a job near my home with an insurance company. They focused on casualty coverage, and it was just perfect for me; it turned out I really liked the job! From there, I moved to American Family Insurance, and I fell in love with it the first month I was...
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May 16, 2022
Cryptocurrency has hit a crisis point unusual in its short but bright history. Rather than listening to tech evangelists' opinions on the matter, banks need to look at the fundamentals. While price bubbles and market corrections have happened many times since bitcoin launched in 2009, this latest pricing drop—triggered by the unpegging of the Tether and Terra stablecoins—suggests that the...
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May 16, 2022
Data and analytics are at the heart of the digital revolution in the banking and financial services industry. Yet, most legacy financial institutions (FIs) struggle to unlock the full value of data assets when making informed decisions that enable strategic business outcomes like managing down overhead costs and generating higher revenues through personalized product offerings. Having the...
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May 12, 2022
Specialty insurers have traditionally made less use of automation than insurers in other sectors. They are now differentiating themselves in a competitive marketplace through investments in distribution (especially new business submission), product development, underwriting, and claims. Specialty lines renewal rates are mixed. Renewal rates are either flat or a mix of increases and...
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May 11, 2022
The sequence of the components of the API acronym—application, programming, interface—does not reflect the sequence in which they are deployed to build an API asset. In fact, “interface” is the first structural component that builds the bridge between the systems to exchange the “applications.” These applications are developed by one party, then accessed via the interface and “consumed” by the...
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May 10, 2022
Business and IT alignment is critical to achieving strategic objectives. When there is collaboration, effective communication, and defined roles for everyone, there is usually a better result within a swifter timeline. While there are several common obstacles to achieving alignment between business and IT, working through those challenges will have a positive impact on project outcomes and on the...
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May 5, 2022
A core system transformation is one of the most critical, expensive, and time-consuming strategic investments a carrier will take on. It’s a decision that will impact the next decade and beyond. Once the decision has been made, and the celebratory client/vendor dinner is over, the meter starts running and the real work begins. During our vendor selection engagements, carriers often ask vendors...
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May 4, 2022
With total global digital asset market capitalization growing from roughly US$20 billion as of year-end 2016 to nearly US$3 trillion in November 2021, digital assets have found their place in certain private and institutional clients’ balance sheets—largely outside the purview of classic financial advisory relationships.  In fact, activity at Coinbase, one of the largest digital asset...
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