Month: July 2018

Extraordinary Re’s Extraordinary Idea

By Russ Banham Carrier Management Imagine there’s a way for institutional investors to trade insurance risks much like they trade stocks. Well, imagine no more. A new and unique reinsurer, Extraordinary Re, has hit upon the novel idea of creating a trading platform run by Nasdaq for investors to trade assets tied to insurance liabilities…. Read more »

Catastrophe Bonds A to Z

By Russ Banham Carrier Management A reader of this publication, the president of an insurance agency, recently wrote to say he kept hearing about catastrophe bonds but had little knowledge of what they were. He was curious if these instruments would replace traditional reinsurance and was particularly concerned about a scenario that would result in… Read more »

Data Marketplace: Sharing Data in the Insurance Industry

By Russ Banham Leader’s Edge In Lloyd’s coffee house in London more than 330 years ago, the property and casualty insurance industry was formed to spread the risks of cargo-carrying ships plying the world’s seas. The industry grew and prospered, with little change in the underlying model. Now, an entirely new structure is taking shape…. Read more »

Payments Push: As a new era of real-time payments dawns, companies must weigh the benefits against arguments for early caution.

By Russ Banham CFO Today’s gotta-have-it-now mindset often seems more ingrained in the United States than anywhere else. It’s odd, then, that the country has lagged behind many others in building the infrastructure to make near-instantaneous electronic payments. Finally, though, change is underway, in the form of a new inter-bank payments system dubbed RTP, for “real-time… Read more »

If You Think Your Small Business Is Too Small For A Network, Think Again

By Russ Banham Setting up a network is a good way for a small business to get more use out of its computers and peripherals, helping users share files and other software resources more easily. The challenge is putting these plans in motion. Many small businesses are reluctant to implement new technologies, despite the… Read more »

Robo-Accountants Are An Accountant’s Best Friend

By Russ Banham Perspectives he manual nature of accountants’ work is evident in the unflattering phrases used to describe their job—“numbers crunchers” and “bean counters.” “Many of us accountants spend so much of our time today doing routine manual work—punching in the same journal entry, the same reconciliation, every month,” said Tammy Coley CPA, chief… Read more »

Trust It’s Verified: Blockchain Takes the Insurance Industry By Storm

By Russ Banham Leader’s Edge Anyone who has ever been in an automobile accident is familiar with the back-and-forth interactions with the insurance agent and carrier. It’s a worrisome, frustrating and time-consuming process. olicyholders aren’t the only people aware of these miseries—so are brokers, carriers, reinsurers and other parties to an insurance contract. In a world… Read more »