Frontiers in Finance : Driving claims transformat... | KPMG | ID

Frontiers in Finance : Driving claims transformation

Frontiers in Finance : Driving claims transformat...

Substantial progress has been made in stabilizing the financial sector since the crisis six years ago. Yet a great deal remains to be done. The focus of this issue of Frontiers in Finance is navigating change and transformation.

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In the issue we address the complex financial services landscape and some of the principal transformation issues senior executives are struggling with today. The G20 meeting in Brisbane in mid-November set the broad context for economic reform and further financial services regulation. We look at some of the key items on their agenda, review the results of the ECB’s stress tests of Europe’s biggest banks, and explore the implications of IFRS9.

 

In addition, we explore two contrasting facets of data management in financial services. Many would argue that managing data and all its ramifications, and extracting the most valuable and useful information from it, represents the biggest single challenge – and opportunity – facing the industry today. Closely connected are the systems underpinning both data management and transaction processing. We believe these are both complex and critical subjects facing financial services.

 

Articles featured in this edition:

 

  • Virtual currencies get real – This article defines what a virtual currency is and looks at some including Bitcoin and Ripple. Virtual currencies present both a threat and an opportunity to financial institutions. Regardless of readers’ position on this new market development, they would be well advised to watch this space closely.

  • Driving claims transformation: insurers ‘reclaim’ customer experience with digital tools – Insurers are beginning to test digital technologies to transform their claims processes, with the potential to elevate the customer experience, lower costs and confront rising fraud and catastrophe losses.

  • Data: an integral driver in transforming the operating model – With the investment management industry at a critical stage, radical new operating models can give companies the agility to grow margins and manage costs, while keeping regulators happy.

 

This issue also includes articles on Rethinking the finance off shoring model, Stress testing the Asset Quality Review, Cyber insurance: A market matures, Automation and risk: Understanding and managing complex interactions and our Regulatory roundtable on the G20 summit: Time for reflection on the financial services agenda.

 

 

They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

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