GlobalData Plc

FinovateEurope 2017: Introducing Thomas McCourtie

Analyst, General Insurance

As the “tech guy” in the insurance team, Thomas has always been fascinated by new consumer technology in financial services, especially within an industry so steeped in tradition.

  • Which area of financial services are you most interested in and why?

From an early age, grasping the use of technology, in all shapes and forms, was a consistent challenge. I was admittedly slower on the up-take than most, which was the encouragement to improve my knowledge and technical nous of the devices we’re seeing developed today. Now that technology is becoming integrated into almost every aspect of financial services, I’m intrigued to see how an industry as archaic as insurance begins to implement the use of consumer tech, and to see the benefits brought to its customers.

  • What do you think will be the hottest trend in fintech in 2017?

Peer-to-peer (P2P) propositions, in all of the financial markets, will be a topical discussion this year. Providers are aware the modern consumer is far more autonomous and self-reliant than in previous years, and this is due in part to, once again, technology. As a result, providers are looking to give the consumer more control over their financial obligations and encourage users to take matters into their own – or a group’s – hands. If these commitments can be managed easily, efficiently, and on a sleek, navigable platform, there is likely to be significant interest.

  • Which demo are you looking forward to in particular and why?

W.UP’s presentation should be interesting, especially as the concept of the proposition has some relevance to a number of issues within the insurance industry. Device optimization, as well as policy management, continues to be problematic for insurers and the group is set to demo new software that could help banks, and other financial institutions, improve and develop on both fronts. It’ll be interesting to see how W.UP’s software solutions rival those already used by the major retail banks, most of which are currently user-friendly and relatively easy to navigate.

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