FINTECH Insights.

 Insurance-focused start-ups today have started revamping the traditional insurance-broker distributor model, and are now applying the omni-channel approach to offer self-directed services and personalised pricing.

It will also become the norm to purchase insurance at the point of sale, for example when you buy a laptop, or when you’re purchasing a related product or service,

In essence – InsurTech at the Bottom of the (wealth) Pyramid. After all, it is when faced with resource constraints that innovation tends to breed naturally.

The edge that DLT-based platform for securitisation offer has yet to be exploited and while we have identified a few (Maecenas among them, pioneering in fine arts) we expect to see an increasing range of assets turned into new asset classes

Thankfully for investment managers and investors alike, the overall picture is not as bleak as the above depiction could lead us to believe. Key technological advances on the operational front have empowered both investors and managers equally.

FinTech companies provide the chance for Private Bankers and Wealth Managers to position themselves as 4.0 Trusted Advisors.

Identity authentication and management with less reliance on traditional identity data means we’ll be seeing a lot more Blockchain-based tech in Identity.

ReTech companies are creating innovative solutions which are fuelled by advances in different fields within big data. One such field is streaming analytics.

As the regulatory technology landscape is expected to change dramatically over the next few years we’ll find out who will be the winners and losers in this competitive economic climate.

How are insurance organisations starting to leverage a new, more practical and viable strand of industrial AI

The role of underwriters and brokers in the Commercial Insurance market, accounting is an area where Insurtech innovation has had a relatively slow start.

Without proven feasibility and scalabilities, exaggerating the potential impact of Insurtech could, in turn, damage the prospects and development.

At the recent G20 summit in Germany, Australian Federal Treasurer Scott Morrison said that financial institutions spend more than $70bn on compliance annually.

For enterprise data frameworks which maximizes data sharing among subsidiaries it is imperative to have RegTech applications in a consolidated architecture.

Are Financial Service companies beginning to recognize RegTech as a paradigm shift and strategic opportunity?

Under robo-advisory services, USD 200 billion in 2015 and  according to A.T. Kearney is estimated to grow to USD 2.2 trillion by 2020.

If the very concept of fiduciary lies in a hierarchy of needs, rules and protocols, then these could potentially be digitalised in a New Fund Order.

There will be probably always a better way but innovation is an improvement and not perfection.