Category: Uncategorized

New Accounting Model For Life Insurers Seeks Greater Transparency

By Russ Banham Forbes A new accounting standard issued by the Financial Accounting Standards Board (FASB) should make it easier for investors to compare companies that sell long-duration life and health products and annuities with market guarantees. However, companies will need to expend a great deal of effort to comply with the standard. FASB’s Accounting Standards… Read more »

How Machine Learning Speeds Up Fraud Detection

By Russ Banham Forbes In their work to unearth evidence of fraudulent activities, forensic accounting investigators dig through diverse data looking for anomalies that suggest something is just not right. But as the massive volumes of data collected by companies balloon, this task has become increasingly arduous, time-consuming and humanly impossible. The regrettable consequence is… Read more »

How Energy Companies Are Leading The Way In Cybersecurity

By Russ Banham Forbes In today’s increasingly digital world, the secure transmission of sensitive information has become a top priority for both individual citizens and the world’s largest government agencies. Since 90 percent of the U.S.’s power infrastructure is privately held, leading energy companies are adopting cybersecurity practices intended to reduce the impact of any… Read more »

5G is the Road to Tomorrow

By Russ Banham Perspectives Few things in life are certain, but one of them appears to be the inevitably of self-driving cars. Although some disparage this possibility for potential safety and loss of personal freedom reasons, others can’t wait to hop into a Tesla or Waymo and say, “Home, please.” This latter group may get… Read more »

Leading a Digital Transformation With Bottom-Up Support

By Russ Banham Perspectives Across industry sectors today, companies are mobilizing for a fourth industrial revolution, a digital transformation combining physical operations with virtual technologies like predictive analytics, artificial intelligence (AI), and the Internet of Things (IoT) to increase operating efficiencies, reduce costs, and make more insightful, data-driven decisions. By evolving current business and operating models,… Read more »

How Robots Are Helping Scientists Predict Earthquake Aftershocks

By Russ Banham Perspectives Recent advances in computing power, deep learning, and physics simulation software present the possibility of mitigating the impact of an earthquake. This is good news in light of research that predicts a cataclysmic earthquake will strike the Western United States in the near future. Scientists at Harvard University and the Massachusetts Institute of… Read more »

Andy Fastow and me

Enron’s former CFO and convicted felon Andrew Fastow talks with the CFO writer who first chronicled his “groundbreaking” manipulation of accounting rules. By Russ Banham CFO Twenty years ago, CFO gave Enron finance chief Andrew S. Fastow a CFO Excellence Award in the category of “capital structure management.” In a feature story naming him an… Read more »

How Carbon Capture Tech Is Easing Industry’s Green Transition

By Russ Banham Forbes Scientists on the UN’s Intergovernmental Panel on Climate Change (IPCC) commissioned by the United Nations to provide guidance to global leaders on the economic and humanitarian impacts of climate change reviewed more than 6,000 scientific studies before reaching a devastating conclusion: Greenhouse gases (above all carbon dioxide, or CO2) must be reduced by… Read more »

Nimble Online Banks Go After Brick-and-Mortar Behemoths

By Russ Banham Dell Perspectives Legacy United States brick and mortar banks are in the crosshairs of so-called challenger banks—nimble European startups with unusual names like Starling, Revolut, Monzo, and N26, and equally unusual value propositions. The digital-only banks have attracted millions of customers across Europe, carving inroads into traditional financial institutions’ depositor base. Each… Read more »

The Art of the Acquisition

INSURANCE CARRIERS ARE COMBINING M&A AND STRATEGIC INVESTMENTS TO IMPROVE THEIR ACCESS TO NEW CAPITAL MARKETS AND DIGITAL TRANSFORMATION. By Russ Banham Leader’s Edge Mergers and acquisitions in the property-casualty and life and health insurance sectors broke new ground in 2018—and not just in the skyrocketing value of deals. M&A deal value among both P&C… Read more »