Winning or Losing Your Share of Deposits Growth

Well, it happened…interest rates finally moved up for the first time in almost 9 years. So now what? The much anticipated rate increase announcement by Federal Reserve Chair Janet Yellen has bankers both excited and nervous. Predicting client financial behavior is going to be a challenge in the coming months, especially when you add an uncertain economy and intense competition. The ability to understand the impact on the balance sheet will be critical in developing a strategic plan in a new world.

Centralized Product Pricing In Your Bank

Deciding to switch the management of product pricing from a decentralized process to a centralized process, is not a decision to be taken lightly. Pricing forms the cornerstone of a bank’s competitive positioning and is a key element in determining its bottom line. There are many factors to consider when making changes to a pricing strategy within a retail bank that it can seem overwhelming at times. And who’s to guarantee that the gain of centralization will be worth the disturbance it may cause?

Industry on the Verge of Change: Data Innovation, Disruption and Digitalization

It will please some of you to know that as this year’s Earnix Pricing and Innovation Summit MC, I got to enjoy the Summit from a totally different perspective. Because as much as the audience is watching the speaker, the speakers are watching the audience. And from up on stage, I saw a room of…

Are Insurance Carriers Ready to Jump Up Into the Cloud?

When we were approached by Carrier Management to write an expert opinion about how property & casualty insurers are getting their feet wet in cloud computing, we were enthusiastic to share our knowledge of the insurance market and our expertise in cloud computing specifically. For a long time now we have been advising our clients…

Eye-Opening Industry Survey Results – What’s New In Homeowners Insurance Ratemaking?

It’s no secret that the homeowners insurance business has historically taken a back seat to the other insurance lines when it comes to pricing sophistication. But now, insurance carriers are investing in their homeowners business as they realize this is an area with household growth potential. Furthermore, by focusing on improving their homeowners pricing precision…

Customer Analytics – The New Fuel for Auto Lenders

Today, there is a lot written about “Big Data” and how the collection and analysis of large data sets can transform business decision making. Data can change the world of sales and marketing, however, there are many challenges in taking advantages of these opportunities. For many companies, there is a need to modernize data environments…

The Digital Banking Experience – Fueling a Pricing Analytics Gold Rush

There is a fundamental transformation happening in consumer retail banking right now. From a reliance on branches (aka. bricks and mortar, stores, etc.), banks are finally putting digital channels at the center of their customer experience. It’s been a long time coming. In fact, I have to confess to writing about the slow death of…

CEO Shares His Thoughts on the Upcoming Earnix Pricing and Innovation Summit

The analytics world is evolving at a rapid pace. For many insurance and banking executives, keeping up with cutting-edge technologies in data-driven, decision-making is challenging. Additionally, there is a lack of relevant industry conferences that allow these topics to be deeply examined in pragmatic terms. We decided four years ago to step in and address…

Insurers Have a Big Appetite for Data, But Are Slow to Digest

With more data sources becoming available, business functions across the organization are realizing the value they can gain from a deeper understanding of the customer. This is clearly not an “IT-thing” or a top-down initiative. In 91% of the companies surveyed, each business function is responsible for data acquisition for its own models.

Homeowners Insurance Ratemaking Approaches Survey 2014 [Infographic]

In a recent survey conducted jointly with Verisk Insurance Solutions, we asked 99 insurance professionals about their best practices in ratemaking approaches specifically regarding homeowners coverage in the US and Canada. It’s no secret that Homeowners business has historically taken a back seat to the Auto business for insurance carriers when it comes to profitability…