How to Transform Your Models into a Fully-integrated Analytics System

More than ever before, financial service organizations are using analytical models to power their core business processes. Ever-higher customer expectations together with new market players are some of the drivers that are responsible for accelerating the pace of change in the market. This calls for business decision makers to react quickly if they are to…

Analytics Hackathon – A New Way for Insurance Analysts to Sharpen Skills

The insurance market has never been faced with so many new technologies, bringing with it increased opportunities to leverage analytics in the industry. Yet, for many insurance professionals, keeping pace in this very dynamic market is challenging, which is why Earnix is staging its Xperts Analytics Hackathon in London at the end of February. The…

Earnix Summit 2016: Customer Centricity in a Rapidly Changing Industry

As financial leaders, we are privileged and challenged to live in the most exciting times in the history of the financial services industry. With disruptive technologies entering the market place, the industry is changing at a phenomenal rate and this was highlighted time and again throughout the 5th Earnix Pricing and Innovation Summit that was…

Three Biggest Barriers to Implementing a Relationship Based Pricing Strategy in a Bank

Achieving a customer-centric business has become even more complex today, particularly with the added emphasis on leveraging analytics and big data, managing regulatory constraints, and the entry of non-traditional Fintech disruptors. Considering the pressure banks now face and the increased choices to which consumers have access, it seems as if serving customers on a true…

Auto Finance Summit 2016 – A Quick Review

Last week, the world’s largest auto finance event was held in Las Vegas. It brought together over 1000 participants – lenders, dealers, and software vendors – to discuss the state of the industry and cover current issues. As lenders and dealers are having to account for the new digitally empowered consumer, the way they lend,…

The Journey To Customer Centricity In A Bank

Customer centricity is a key success factor in retail banking today. Yet, I have seen all too often that when bankers speak about customer-centricity, perception falls short of reality. Most times they are really referring to a desire to become customer-centric or believing they have already achieved a customer-centric organization, while C-level executives relate to…

The Search For Love, Happiness And Purpose In A World of Technology and Data

I think we can all agree that insurance isn’t the most romantic industry. I certainly didn’t imagine myself working in it. But in fact, insurance is one of the key pillars of a functioning society under capitalism. It’s a crucial tenet of our economy – but for the most part, the industry remains stuck in…

What Makes Financial Executives Step Out Of The Office?

Many financial leaders are struggling with digital and data transformations. Day to day dynamics often leave executives confined by a limited set of ideas accepted by their organizations. Attempts to “ask around” or “learn from the best” in order to become innovative are easier said than done. The fact is that there is no better…

Is Machine Learning a Threat to the Actuarial Profession?

Man vs. Machine: 10 years ago, I would never have guessed that I would be writing about this topic with such serious concern. Yet, some people are predicting that machine learning technology will produce a jobless future for certain professions, including actuaries. And with news headlines like “Google’s AlphaGo AI beats Lee Sedol again to…

Centralized Product Pricing in Your Bank – Overcoming the Obstacles

Imagine the following scenario: The pricing department in your bank decides on a new pricing policy for a mass market deposit product. Your bank has already realized that using a set pricelist and then allowing each branch/region to negotiate with its customers independently is far from being optimal. Why? Because your typical sales person will…