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Analyst Opinions
Code to Capital – Generative AI Meets Financial Services
Generative AI in Financial Services Report Overview The upsurge in Generative AI (GenAI) centric news, transactions, and company filings within financial services indicates a sector-wide recognition of the technology’s transformative potential. GenAI amplifies personalization, optimizes operations, and enhances security, resulting in a holistic transformation of the financial services market. This has resulted in the refining of each retail banking value chain component. In the front office, Generative AI facilitates customer interactions across various touchpoints and enables more personalized and efficient...
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Analyst Opinions
Innovation in Insurance – Leading Trends and Themes
Innovation in Insurance Market Report Overview Insurance companies are increasingly using smart and connected devices to reward positive behavior across a variety of lines. Younger demographics are showing a greater willingness to use these products and share the data they generate with insurers, making this a key innovation in maintaining demand going forward. AI technology is becoming increasingly disruptive within the insurance industry due to the benefits it can provide across all areas of the insurance value chain. The innovation...
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Thematic Analysis
Cyber Insurance – Thematic Intelligence
Cyber Insurance Market Analysis Overview Cyber insurance provides cover against first- and third-party financial losses arising from damage to, or loss of data from, IT systems. Cyber risks are growing for SMEs of all sizes and this fact is even acknowledged by SMEs themselves. While the pandemic has raised the cyber risks most businesses face, it has also increased the likelihood that many SMEs will purchase cyber insurance. The tough economic climate may be holding some businesses back from making...
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Thematic Analysis
Cybersecurity in Insurance – Thematic Research
The global cybersecurity revenue in the insurance sector was $6.4 billion in 2020. The market is expected to grow at a CAGR of more than 10% from 2020 to 2025. The sector’s rapid digital transformation will drive this growth. COVID-19 led to more customers accessing their accounts digitally and insurers selling through digital channels, increasing the sector’s cyber risk. The rise in complex ransomware attacks, the persistence of hybrid working models, ongoing supply chain threats, and the Russia-Ukraine war have...
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Analyst Opinions
Predict and Prevent – Insurance on the Cusp of Tumultuous Tech Transformation
The days of traditional insurance are slowly fading away with the advent of emerging technologies to better manage risk, automate claims, and enrich customer experiences. In this evolution, the sector is switching from the current ‘find and fix’ approach to ‘predict and prevent’, the trend which will accelerate as its stakeholders become more cognizant of the new technologies. Emerging technologies are becoming indispensable components across the sector value chain to benefit both insurers and their customers. AI, IoT, big data,...