The Who's Who and What's What In Business InsuranceRead the rest of this entry »
For anyone in the business of business insurance or considering a career in the industry, Business Insurance is a valuable resource. The kaleidoscope of daily articles alone will keep you up-to-date on everything from cyber risks to workers' comp. But it's the resources and reports section where the site really stands out.
We're not shilling for the site, just letting you know as we do from time-to-time about a useful ...
How to Win In the Next RecessionRead the rest of this entry »
International consulting firm Bain & Company issued a report last week that should serve as a blueprint for leading a company through a recession, which is imminent, at least according to Beyond the Downturn: Recession Strategies to Take the Lead.
"Predicting the onset of a recession is difficult, but a downturn likely will arrive soon," the report maintains, citing the length of the current expansion, economic turmoil over ...
Insurance Jobs Are Growing, But Some Sectors See DeclinesRead the rest of this entry »
The Insurance Information Institute (III) just published a series of charts showing trends in employment in the insurance industry since 1990.
What it shows is that a previously slow growing industry -- from an employment standpoint -- began adding jobs a few years ago at a pace not seen since the early 1990s. The III report somewhat understatedly headlines one section, "From 1998–2013, Total Industry Employment Has Stayed in a Narrow ...
What You Post Could Make You UninsurableRead the rest of this entry »
The insurance industry is beginning to explore how checking your social media posts might be used to set rates for everything from auto insurance to life.
Today, the technology isn't quite there. Give it a few years though, and you might just find that video of you doing a wheelie at 60 miles an hour will cause your premiums to go through the roof -- if you can even get insurance ...
Is 2019 the Twilight For Community Banks?Read the rest of this entry »
Technology may be sounding the death knell for community banking.
With 50% of the branches in the U.S., local and regional banks should be gobbling up new deposits. They're not. They're not even getting what might be considered a proportional share, settling for a mere 20% of deposit growth over the last three years.
Contrast that with the nearly 50% of new deposits that went to the three largest ...
Do Our Money Worries Predict Future Banking Problems?Read the rest of this entry »
Could consumer financial worries predict trouble for the banking industry?
That's the claim of Dr. Dan Geller and Haifa University's Prof. Nahum Biger. Writing in the Journal of Applied Business and Economics, they show "how money anxiety is a major factor impacting liquidity levels and interest rates in the banking system." Their study uses Using Geller's Money Anxiety Index as an important new variable in the predictive models.
Get Your Career In Shape For Banking's FutureRead the rest of this entry »
As banking institutions continue their struggle to be competitive, closing branches, merging, consolidating and eliminating jobs, how are you preparing?
"Banking careers are being disrupted every day due to the confluence of technology and competition," writes Jim Marous, co-publisher of The Financial Brand and Publisher of the Digital Banking Report.
He makes the point that the traditional path from hiring to management -- where longevity and loyalty made the difference ...
Compared to the CEO, CFO Pay Is StagnantRead the rest of this entry »
As CEO pay has steadily increased over the past five years, CFOs have seen only modest increases in compensation.
Corporate research and intelligence firm Equilar posted an analysis of CFO pay changes since 2013, finding that CFO median pay at the largest public companies grew by $600,000. CEO pay, however grew by a median $2 million.
"The chief financial officer is an extremely important cog in the machine that ...
5 Ways Banks Can Meet the Online-Only ChallengeRead the rest of this entry »
To remain competitive in the face of online-only financial services, banks need to reinvent themselves, and at a faster rate than ever, says an article on Payments Journal.
With more customers using mobile banking every day, no longer can a financial services company rely on branch visits to build relationships. Instead, they need to market themselves in a variety of ways and monitor social media to know what their customers ...
Fintech Day Marked a Milestone In Growth of NonbanksRead the rest of this entry »
Yesterday's first "Fintech Day" didn't make the morning news shows the way Talk Like a Pirate Day or National Donut Day (celebrated twice each year) do. And we aren't holding our breath that it ever will, but for those in banking and finance, it was a milestone of sorts.
In fact, it wasn't that many years ago that the word "fintech" first surfaced to describe the melding of ...