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E.g., 2023-02-05
E.g., 2023-02-05
February 2, 2023
The competition for talent in insurance and other industries seems to have hit fever pitch over the last couple of years. We have seen the Great Resignation, quiet quitting, and, more recently, career cushioning all contributing to the difficulty of retaining talent and knowledge in the workplace. Whatever new name is given to trends in the workforce, it is clear that attracting and...
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January 31, 2023
Happy New Year! And welcome to 2023, a year which appears to offer great promise, fascinating contradictions, and some real risks for insurance carriers as they execute in what feels like a different era. The changes we have experienced over the past three years have been profound and, in many ways, have altered our trajectory.  We are, we hope, finally entering a post-pandemic era. Many...
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January 30, 2023
Q: ChatGPT – Angelic or evil?   A: Neither. If you haven’t experimented with ChatGPT, it is what computers do in the movies. Ask a question, get an answer.} ChatGPT is a tool. It is not inherently endowed with good or evil.   When initially experimenting with ChatGPT, I was reminded of the first time I saw a browser or saw Java. The possibilities are clear—the initial...
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January 26, 2023
Like many other travelers this holiday season, I woke up on Christmas Eve to the notification that my Southwest flight had been canceled. The process of rebooking was straightforward; I was able to easily change my flight to a later date from my phone. For the moment, I was mildly annoyed but otherwise unbothered. Three days later, my flight was canceled again, and then my trip altogether....
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January 24, 2023
Insurance has traditionally been viewed as resilient to recession and economic uncertainty. Yet, besides the tough economic conditions, the insurance industry is facing an unprecedented number of business challenges: increasing claims severity rates due to supply chain issues and rising inflation, climate risk and ever more frequent natural catastrophes, increased regulatory oversight, and...
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January 23, 2023
The last two years have dramatically impacted the life insurance industry. As the pandemic has gone on, remote work, a talent shortage, social distancing, and direct reminders of mortality have been impacting the daily lives of customers, distribution partners, and insurers. These factors have led to changes in the processes for underwriting, applying for policies, and distribution. Ongoing...
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January 20, 2023
As the economy transitions from post-COVID to prerecession conditions, a sea of change is washing over the cybersecurity industry. Changing economic conditions and evolving approaches to secure digital assets will create a frothy cybersecurity sea in 2023 for chief information security officers (CISOs) and other risk leaders at financial services firms. These changes will be good for some and...
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January 19, 2023
Coming out of 2021, society was slowly getting out of the pandemic’s vise grip and returning to a new state of normal. Even so, financial services organizations and their financial crimes leaders continued to navigate a complicated global ecosystem, particularly as organized crime sustained its relentless assault against financial services firms, businesses, and consumers. Economic uncertainty...
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January 18, 2023
It’s a demanding moment in time for IT organizations at financial institutions (FIs), which must maintain regulatory compliance while keeping up with their competitors. As institutions continue to compete for talent, transform digitally, and enhance their data quality and variety, new technologies such as multi-cloud and distributed ledger creep closer upon the horizon. In 2023, many IT...
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January 18, 2023
Changing product dynamics, fee compression, geopolitical unrest, weaponization of commodities, and an aggressive regulatory agenda have been recurring drivers in the capital markets industry. As the broader capital markets ecosystem enters 2023, it is tempting to think the same long-term trends will shape the coming year, and perhaps they will. But Aite-Novarica Group believes there are more...
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