Hurricane Florence will once again expose the challenges insurance carriers face with the National Flood Insurance Program. It is shaping up to be a major storm, likely causing damage and flooding throughout North and South Carolina. While my first thoughts go out to all of those affected by this storm, we will soon begin focusing on the recovery efforts. Once again, the insurance industry will be called upon to help assess and cover the damage caused by this storm. Unfortunately, one of the primary risks associated with hurricanes is flood risk from storm surge, torrential rain, and overdeveloped watershed districts, which require coverage through the National Flood Insurance Program, leading to the following:
Bad guys beware! Many of the best minds in financial crime will converge in Charlotte, North Carolina, on September 27 for Aite Group’s Financial Crime Forum. The day will be filled with interactive panel discussions as financial crime and fraud executives from Bank of America, Citibank, U.S. Bank, Navy Federal, BBVA Compass, Ally Financial, and many more institutions tackle the following topics:
As a society we must look forward. Having failed to plan for a few decades now, we the people face a retirement crisis. Nothing is in place today to stop the disease from attacking our young.
TD Ameritrade launched a third tier in its client advice offering, giving investors access to a large array of model portfolios, advisors, and portfolio consultants to help construct investments that meet their goals. The new offering is called Personalized Portfolios and will give clients immediate access to a portfolio consultant who can construct highly tailored individual investments from more than 160 model portfolios. It appears that advisors can also substitute underlying investments or add individual securities to the portfolios to meet highly tailored client needs. This approaches the same type of investment construct as a separately managed account or SMA.
Artificial intelligence, blockchain, cloud deployment models, fintech, insurtech, regtech, robotic process automation, big data analytics, channel diversification, changing customer expectations, and an ever more detailed regulatory environment are all part of a growing list of dynamic forces transforming financial services. Each of these has the power to be disruptive on its own; combined, they guarantee change for financial services providers of all types. But these forces are not exclusive to banks and financial institutions. IT services and traditional business process outsourcing (BPO) providers are increasingly focusing on their own technology capabilities as a means of avoiding disintermediation and gaining share in a competitive field.