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April 4, 2023

Individual Life Insurers Must Pursue Holistic Agent and Customer Experiences: Digitalization Is Not Enough

Individual life insurance carriers are more open to greenfield policy administration system (PAS) deployment for new lines of business or new products, rather than launching on existing platforms. Carriers are waking up to the importance of customer experience from the perspective of both the policyholder and the producer. Automation and digitalization of processes are still necessary, but so are...

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Steven Kaye

April 3, 2023

Trends in Emerging Technology in Insurance: Deployment Rates and AI

Insurers regularly experiment with emerging technologies to find more efficient and effective ways to manage information, workflow, and risk. On Thursday, March 16, I hosted Aite-Novarica Group’s webinar Emerging Technology in Insurance for 2023, along with my colleagues Head of Property & Casualty Insurance Martina Conlon and Senior Principal John Keddy. Our discussion centered on...

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Harry Huberty

March 30, 2023

Tech Startups in Commercial Banking and Insurance, Part 1: Problems and Challenges

The evolution of technology has reshaped many aspects of both the financial services and the insurance industries, and there is no indication that this growth will slow down any time soon. Whether a startup calls itself a “fintech” or an “insuretech” firm, its market is evolving. Recent events have shown that the “disruptors” can also be the “disrupted” through broad market forces and challenges...

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Benjamin Nestor

March 30, 2023

オープン・バンキング：欧州の近況

英国で始まったオープン・バンキングは、当初は政治主導との見方もありましたが、その後データ活用高度化のための制度整備が進み、次第に具体的な導入事例も登場してきました。ここでは、リテールバンキング分野を中心に、昨今の欧州におけるオープン・バンキング動向をまとめてみました。 ■ オープン・バンキングの進展欧州のオープン・バンキングは、2014年に英国財務省から発表された「National Open Data Strategy」がきっかけとなり、2016年に発効したGDPR（EU 一般データ保護規則）や2018年から施行されたPSD2（欧州決済サービス指令第2版）などでデータ保護に関するレギュレーション整備が進んだことから、具体的なサービスの提供が始まっている。昨今、欧州の金融機関やソリューション・ベンダーの間では、オープン・...

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Susumu Suzuki

March 29, 2023

How to Provide a Secure Yet Customer-Friendly Authentication Experience

Authentication is one of the most crucial defenses against financial crime like fraud and scams, yet authentication strategies are in flux. A rapidly evolving threat landscape, coupled with tightening regulatory requirements and accelerating digitalization, is putting pressure on banks, credit unions, and other financial organizations to rethink their current approaches to authentication....

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Gabrielle Inhofe

March 28, 2023

Winds of Change

Everywhere around us, it seems that change is in the air. Some of it is weather-related, with epic snowfall hopefully putting a significant dent in the drought conditions in the Western United States. With any luck, this is a situation where short-term pain will lead to longer-term gains. The insurance implications for some lines of business could be profound, if we can get away from wildfire...

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Robert McIsaac

Sell-Side Fixed Income Connectivity Platforms

March 27, 2023

Acquisitions of Fixed Income Connectivity Solutions Spotlight the 60% Growth Potential of This Market

Bloomberg’s acquisition of Broadway Technologies follows on the heels of AxeTrading being acquired by Trading Technologies and the 2021 acquisition of LIST Group by ION. With so much activity in this space in recent years, you may be wondering, “Why all the interest in fixed income connectivity solutions?” The surge in fixed income electronic trading has significantly increased the importance...

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Vinod Jain

March 22, 2023

Paving the Path to Data Maturity

Banks in the early 2020s have a vast amount of data at their fingertips. Yet many are failing to reap the benefits that this should offer. Overwhelmed by challenges accessing data and inconsistency among data sources, small and midsized institutions frequently neglect data governance and strategy in favor of quick fixes and tactical Band-Aids. Poor productivity, wasted time on reconciliations,...

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Mitch Wein

March 21, 2023

規制環境の複雑化とレグテック・ツール：レギュラトリー・インテリジェンスの活用

2009年の金融危機以降、新たな規制の導入や既存規制の変更が常態化しており、金融機関にとっては期日に合わせた対策実施が大きな負担となっています。欧米では、規制に関する様々な情報を収集/分析するレグテック・ツール：レギュラトリー・インテリジェンス（RI）の利用が始まっており、アイテ・ノバリカ・グループではこの分野の動向をレポート：Regulatory Intelligence Market Overview: A Must-Have for Complex Regulatory Compliance Obligations にまとめています。 ■ 金融関連レギュレーションの複雑化 2009年の金融危機以降、金融分野における新たな規制の施行や既存規制の変更頻度が増加しており、トムソンロイターの調べでは、グローバルで毎年4万件以上の規制変更が行われるという。...

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Susumu Suzuki

March 21, 2023

How to Ensure Your APIs Are Secure

It is reported that the average number of APIs organizations use can range from 15,564 to 25,592. According to F5, there could be 1.7 billion APIs in use by 2030, making APIs one of the largest known software components of an enterprise attack surface. Hackers increasingly target APIs as the gateway to an organization's sensitive information. A 2022 Salt Security report states that 94% of...

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Tari Schreider