Insurance Systems Insights

At its peak in January 2018, the combined market capitalisation of cryptocurrency hit $830bn. While that figure has since declined to just over $113bn, many businesses and individuals have accrued fortunes into the hundreds of millions. The rapid escalation of cryptocurrency’s market capitalisation and popularity left regulators playing... read more

While a stern warning issued by the UK's Financial Conduct Authority (FCA) to the insurance sector affects a small slice of the industry, the regulator is displaying a welcome willingness to use innovation to drive change, according to market participants. “[The FCA] is being very proactive and working with the industry to ensure... read more

FinFit announces new CFO Virginia-headquartered FinFit appointed Matthew Fahy as chief financial officer on February 19. At FinFit, Fahy will oversee the company’s financial strategy and operations. Most recently, he served as CFO and EVP of global services at AgilQuest. Prior to this, he held the role of CFO for Public Access... read more

Thanks to a combination of factors, from geopolitical uncertainty and Brexit through to the trade disputes between the USA and China, economic stability seems to be in doubt once again. You don’t have to look far to see that in some markets, trading conditions are challenging, and, given that recession is a not too distant memory, this has... read more

In recent years, just like businesses in almost any other industry, insurance companies have been focusing on improving the customer journey. They are increasingly adopting automated systems which help to streamline their service, offering policyholders an efficient, easily navigated and hassle-free journey from point of quote to purchase, to claim... read more

Dash Financial Technologies appoints CFO New York-based fintech Dash Financial Technologies appointed Scott Patrick as chief financial officer, effective January 23. Patrick has 25 years of experience in financial services and financial technology and has held positions of an investment banker, equity research analyst and a strategic... read more

Early on in my treasury consulting career, a new client approached me with what seemed to me a rather unusual request during their system implementation: “Could you please set up Deutsche Mark as one of our currencies?” I blinked. Deutsche Mark – the former German currency replaced by the euro in 2002? My confusion must have shown... read more

Rolling out new middle- and back-office technology should be a continuous process, but for some firms it’s more of a decennial event. The pace of change that has been set by regulators in recent years requires firms to fundamentally reassess their timescales and models for deployment. Going forward, fixed and... read more

The combined effects of Open Banking, the General Data Protection Regulation (GDPR) and developments within artificial intelligence could see banks offering life insurance. “The real challenge is synchronising banks’ data into the old and archaic insurance processes in the old insurance offices and ensuring incumbent insurers are... read more

Last September, the UK's Citizens Advice Bureau (CAB) filed a super-complaint with the Competition and Markets Authority (CMA) calling for more to be done to tackle the ‘loyalty penalty’ being paid by longstanding customers in five markets: mobile phone contracts, broadband, cash savings, home insurance and mortgages. The... read more