Insurance Systems Insights
31st October 2018
Insurtech entered common vernacular in the market towards the end of 2015, but it’s been slow to take off compared to disruption in other areas. A report last year by the European Insurance and Occupational Authority (EIOPA) said that digitisation had not yet reached the point of truly disrupting the insurance sector.
For some, the... read more
22nd October 2018
The real-time underwriting space provides a great opportunity for insurance market participants, an audience at this year’s Money2020 conference heard. But while current “rigid” corporate structures among incumbents are holding those players back, the industry is facing a pivotal moment in embracing new technologies.
Scott... read more
21st October 2018
The news that the UK's Citizens Advice Bureau (CAB) has filed a super-complaint with the Competition and Markets Authority (CMA) over what it describes as a £4bn ‘loyalty penalty’ will have sent shockwaves across impacted markets. The CAB calculates that the loyalty penalty across mortgages, savings, home insurance, mobile and... read more
9th October 2018
Starling has acquired 10,000 business customers and 210,000 current account customers to date, with the TSB crisis reportedly bringing in eight times the number of switches to the digital only bank.
That’s in an industry where stickiness and customer profitability is key and where it has never been easier for customers to switch banking... read more
5th October 2018
According to the World Bank, financial inclusion means that individuals and businesses have access to useful and affordable financial products and services that meet their needs; transactions, payments, savings, credit and insurance, delivered in a responsible and sustainable way.
This access to a transaction account is a first step toward... read more
1st October 2018
Paper-driven accounts payable (AP) processes are still with us, even though the date on the calendar says we’re approaching the third decade of the 21st century.
That’s a problem because having such a central business process clogged up with paper has a negative impact. After all, in a paper world, an invoice can sit in an inbox for... read more
25th September 2018
The payments space is heating up.
As the open banking initiative facilitates a monumental shift, new market participants are looking to disrupt in entirely new ways.
While the US and European payments landscape is awash with sexy consumer-facing paytech, few of those participants are paying attention to the vital work of the underlying... read more
18th September 2018
The mantra of the European authorities when talking about the completion of the Banking Union is that there needs to be risk reduction in the banking sector before introducing further mechanisms of risk sharing. What form of risk sharing might this take and what are the risks that banks need to reduce?
Risk sharing according to the European... read more
29th August 2018
The fragmentation of traditional insurance markets and concerns around the profitability of underwriting has led insurance providers and online comparison sites to look more to insurtech propositions.
Over recent years, firms that have attempted to replicate the success of insurance comparison sites without providing enough differentiation have... read more
23rd August 2018
Fintech startup Revolut has signalled its intent to appeal to millennials and those with interests in a crypto economy by launching a new card that offers cashback benefits in either cryptocurrencies or fiats. It’s a signal of intent seen from the fintech market aiming to take on traditional banks – many of whom are reluctant to move... read more