Technological Change and Cyber Risk Overtake Regulation as Top Risks for Insurers

LONDON, May 30, 2017 (GLOBE NEWSWIRE) — The global insurance industry’s ability to confront structural and technological changes is now the greatest risk it faces, according to a new survey of insurers and close observers of the sector.
The CSFI’s latest Insurance Banana Skins 2017 survey, conducted with support from PwC, surveyed 836 insurance practitioners and industry observers in 52 countries, to find out where they saw the greatest risks over the next 2-3 years.
 Insurance Banana Skins 2017 (2015 ranking in brackets)1Change management (6)2Cyber risk (4)3Technology (-)4Interest rates (3)5Investment performance (5)6Regulation (1)7Macro-economy (2)8Competition (-)9Human talent (15)10Guaranteed products (7)11Political interference (16)12Business practices (11)13Cost reduction (-)14Quality of management (12)15Quality of risk management (10)16Social change (20)17Reputation (18)18Product development (17)19Corporate governance (21)20Capital availability (22)21Complex instruments (25)22 Brexit (-)   Change management is at the head of a cluster of operating risks which have jumped to the top of the rankings. The report raises concerns about the industry’s ability to address the formidable agenda of digitisation, new competition, consolidation and cost reduction it faces, especially because of rapidly emerging technologies which could transform insurance markets, such as driverless cars, the ‘internet of things’ and artificial intelligence.
Cyber risk follows close behind, with anxiety rising about attacks on insurers themselves as well as the costs of underwriting cyber-crime. Other major concerns include the adequacy of insurer’s internal technology systems and new competition, particularly from the ‘InsurTech’ sector.
The next cluster of high-ranking risks, interest rates, investment performance and macro-economic risk, shows that concern about economic instability remains high. Although respondents acknowledged signs of growth, confidence in the recovery is not strong for reasons as widely dispersed as the slowdown in China, the risk of Trump-era protectionism, and populism in Europe. The risk of political interference was seen to have risen sharply. However, Britain’s exit from the EU was seen to be a minimal source of risk for insurers, particularly those without operations in the UK.
Regulatory risk, which has topped the last three editions of this survey, has fallen out of the top five this year. This is largely because recent regulatory changes are settling in to business as usual (e.g. Solvency 2), though the cost and complication of regulation continue to be a concern.
The report shows that the industry’s ability to attract and retain human talent is a fast-rising concern, particularly to handle the digital challenge.  Conversely, an area of declining risk is the governance and management of insurance companies. These were seen as high-level risks during the financial crisis but have fallen sharply since, because of both initiatives from the industry itself and regulatory pressure.
Overall, the climate for insurers is becoming more challenging, according to respondents. The 2017 Banana Skins Index, which measures the level of anxiety in the industry, is at a record high, while the industry’s preparedness to handle these risks has fallen from 2015.   
David Lascelles, survey editor, said: “For the first time in six editions of this survey, operating risks pose the greatest threat to insurers. Structural and technological changes to the industry could upend traditional business models. At the same time, insurers are grappling with a very difficult economic climate, which helps explain why anxiety is at an all-time high.”
Mark Train, PwC Global Insurance Risk Leader, comments: “Both the challenges and opportunities presented by change underline the vital importance of being clear about where you’re best able to add value, and then being ruthless in targeting investment and management time at these priorities. A key part of this ‘fit for growth’ strategy is differentiating the capabilities needed to fuel growth, ‘good costs’ targeted for investment, from low-performing business and inefficient operations, ‘bad costs’ targeted for overhaul or elimination.”
Notes to Editors:
For further information, contact: David Lascelles, CSFI T:+44 (0)20 7621 1056 or +44 (0)7710 088658, E: Andrew Hilton, CSFI T:+44(0)20 7621 1056 E: Joost Blankenspoor, PwC T: +31 (0)88 792 6596 E: 2.  The Insurance Banana Skins 2017 survey was conducted in January and February 2017 and is based on 836 responses from 52 countries. The breakdown by type of respondent was:
 %Non-life29Life insurance27Composite17Reinsurance7Brokers4Other16   3.  The survey is the latest in the CSFI’s long-running Banana Skins series on financial risk.  Previous Insurance Banana Skins surveys were in 2007, 2009 2011, 2013 and 2015. The report is prepared by the CSFI, which is solely responsible for the editorial content, with support from PwC. It can be downloaded from the CSFI website: or from the PwC website:
4.  The CSFI (Centre for the Study of Financial Innovation) is a non-profit think-tank, founded in 1993, which looks at challenges and opportunities for the financial sector. It has an affiliate organisation in New York, the New York CSFI.

5.  PwC is a network of firms in 157 countries with more than 195,000 people who are committed to delivering quality in assurance, tax and advisory services. More information is available at the firm’s website,


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Global Aluminium Directory 2017 – Research and Markets

DUBLIN–(BUSINESS WIRE)–Research and Markets has announced the addition of the “Global Aluminium Directory 2017” directory to their offering.
Buyers, Suppliers or Customers can easily be found by purchasing the Global Aluminum Directory. Why spend hours searching the internet for new contacts and business partnerships when you can have fast, easy access to the most up-to-date and comprehensive industry guide around?
The aluminum recycling segment continues to face challenges of tight margins and industry fragmentation – resulting in companies going out of business, being taken over, or new ones stepping in to fill the gap. In such a fluid industry, your need for up-to-date aluminum market intelligence is a significant factor for your company’s future success in this industry.
Why spend countless business hours searching the internet for new contacts and business partnerships? Find new buyers, suppliers or customers easily, by investing in the Global Aluminum Directory.
The Global Aluminum Directory has been completely re-researched. Each company, old and new, has been contacted individually to ensure the information contained in the new edition is accurate and up-to-date.
No more searching in vain for the contact information you need, – we’ve done the hard work for you. The new edition of the Global Aluminum Directory will listed thousands of companies who specialize in the production or trade of aluminum. Each company has been contacted direct – so you know the information we give is accurate.

This new edition of the Global Aluminum Directory lists producers and traders of aluminum worldwide and includes:
– Full contact details for companies and key personnel in the industry, including phone, fax, email and web address;
– Ownership, subsidiaries, associates and branch office details;
– Up-to-date expansion plans by company;
– Details of activities and materials produced or traded by company;
– A Buyers’ Guide, with the producers and traders listed separately under their respective countries.
Also includes a cross-referenced Index to help you find the right supplier for you quickly and easily;
– An alphabetical index to companies, useful when you need to find updated information on one particular organisation;
– A listing of key personnel by business area, helping you to track down that contact who’s moved without telling you, or to access specific departments at companies;
– All in an easy-to-use soft-bound A5 format.
For more information about this directory visit


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Global Outdoor Advertising Market Report and Forecast 2017-2022 with Storer Media, Clear Channel Outdoor, Lamar Advertising, JCDecaux Dominating the $37.7 Billion Market – Research and Markets

DUBLIN–(BUSINESS WIRE)–Research and Markets has announced the addition of the “Global Outdoor Advertising Market Report and Forecast 2017-2022” report to their offering.
The global outdoor advertising market reached a value of around US$ 37.7 Billion in 2016, exhibiting a CAGR of around 5.4% during 2009-2016.
One of the oldest forms of promotion, outdoor or out-of-home (OOH) advertisement is employed by advertisers to promote their products and services in public spaces. The advertisements can be placed on billboards and posters; in bus shelters, airports, shopping centres, kiosks and stadiums; inside and outside buses, trains and taxis. Outdoor advertising represents a cost-efficient and long-lasting form of advertisement with wide coverage.
A number of factors are expected to drive the growth of the global outdoor advertising over the forecast period. Infrastructural development, particularly in the emerging economies, will increase the space which can be used for outdoor advertising. The transport system also represents a profitable means of outdoor advertising as a large number of people use public transport to commute. The modernization of public transport will further drive the growth this market.
On the basis of segments, the report has divided the market into billboard, transport and street furniture advertising. On the basis of type, the market has been divided into traditional and digital advertising. The report has also analysed the industries which actively use outdoor advertisement for promoting their products and services.
Some of the key global players include Storer Media, Clear Channel Outdoor, Lamar Advertising, JCDecaux, etc.
Key Topics Covered:
1 Research Methodology
2 Executive Summary
3 Introduction
4 Global Advertising Market
5 Global Outdoor Advertising Market
6 Global Outdoor Advertising Market: Competitive Landscape
Clear Channel Outdoor
Lamar Advertising
Outfront Media
Storer Media
For more information about this report visit


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Research and Markets – Global Smart Home and Smart Building Market Report: First Signs for an Upcoming Take-off – Broad Ecosystem Involved in the Field and the Different Players’ Positioning





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Frogtech Geoscience Releases New North Atlantic and North Sea SEEBASE®, Providing New Perspective for Underexplored Paleozoic Reservoirs

CANBERRA, Australia, May 28, 2017 /PRNewswire/ –Today, Australian geoscience company Frogtech Geoscience released the North Atlantic Regional SEEBASE® Study and GIS, a new comprehensive regional study of basement architecture in the North Sea and the North Atlantic conjugate margins of Norway, Greenland, UK and Ireland.
The unique SEEBASE model visualises basement topography at the geologically complex Baltica-Avalonia-Laurentia collisional triple junction. The basement focused analysis overcomes the challenge of interpreting basement beneath basalt and/or salt on seismic data, showing that the deepest North Atlantic depocentres are floored by shallow mantle below hyperextended crust.
Basin trends in the prospective North Atlantic and North Sea were directly controlled by pre-existing Caledonian structures and reinforced during the Variscan Orogeny. Paleogeography in reconstructed space shows North Sea basement platforms as barriers between contrasting marine and non-marine clastic depositional environments in the Early to Mid-Paleozoic. Reef complexes developed above these Caledonian-cored platforms, forming important yet underexplored Paleozoic reservoirs.
The study leverages Frogtech Geoscience’s proprietary potential field geophysics interpretation process that includes detailed integrations of gravity and magnetic data, basement terranes and composition, and iterative tectonic and reconstructed paleogeographic analysis, to produce the SEEBASE depth-to-basement and present-day basement heat flow model.
More information on Frogtech Geoscience, SEEBASE® and the North Atlantic Region SEEBASE® Study:
About Frogtech Geoscience
Frogtech Geoscience provides industry-leading solutions in non‐seismic geophysics, geodynamics, structural geology, seismic and well interpretation, stratigraphy and petroleum systems to reduce exploration risk. With over 300 client projects worldwide spanning over 20 years, coupled with an industry-recognised team of specialists, Frogtech delivers high-quality, innovative geological studies and consulting services.
For media inquiries, please contact:

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Study Details
About Frogtech Geoscience
SOURCE Frogtech Geoscience
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Dmitry Leus: Special Aspects in Forming Rules of Financial Behavior

LONDON, May 25, 2017 /PRNewswire/ –Recently, there has been an increasing amount of talk about financial behavior and financial literacy. What is it? How to carry the bag? What knowledge and skills are needed for this? This topic is as relevant as ever now. It is unlikely to cope with it at once. That is where an international financial expert, investor and businessperson Dmitry Leus, can offer some insight. He can discuss the topic of financial literacy not only in Russia, but also abroad.
The first question is on the assessment of financial literacy of the domestic population and the level of its global influence.
Dmitry says that financial matters are complicated for lots of people, so he wants to explain the basic thoughts using lay terms. The expert also claims that finance is the basis and foundation for the development of both the national economy and citizens of the country. The active development of the market in 2,000years has caused the situation that the population has had surpluses of funds. Dmitry says that the first thing, which has been decided, is the satisfaction of their basic needs and the increase of social recognition (or status). Most citizens did not have and still do not have the notion of what opportunities the financial market has and how to manage the spare cash in the right way. Leus states that the population misses the opportunity to participate in financial market activities this way. Nevertheless, the key factor is in the field of financial literacy, or rather, in its absence. Realizing this situation globally, the state tries to influence it and work for raising the level of financial literacy of the population in a variety of ways. This includes the introduction of a system of individual investment accounts, a deposit insurance system, and the implementation of the special course within the school curricula. Dmitry says that money is a resource that should work!
Everybody knows that Dmitry often goes abroad and takes part in international programs. Therefore, he was asked about the differences between Europeans in matters of financial literacy.
Leus replies that it is incorrect to talk about the cardinal differences in the situation in Europe or the U.S.Undoubtedly, the overall level of financial literacy is higher there: It is customary to run family finances (according to the latest data, only 30% of households in Russia have a budget), monitor the payment of taxes, manage freely available financial resources and use tools of investment actively. Such concepts as rent and dividend are well known for many people, even in the outback. Moreover, most of Europeans living in isolated places have full information about their current investments. He says that this is their advantage. Leus claims that the basis of the main differences should be found in the specifics of persons’ mentality. The expert also claims that the Russian people are characterized by largesse, and this has an impact on revenues. In his opinion, this in particular influences the existence of such principle as “paycheck to paycheck.”In other words, the expenses end at that moment when the money runs out. According to the investor, Europeans are more rational in matters of attitude toward money. By the way, he mentions that the same rationality is inherent to southern nations (Italy, Spain, and Greece). Rationality and keeping track of both the revenue and spending part of the budget allows you to feel yourself more confident in times of financial instability or deterioration of the financial environment in the country. Moreover, Leus states that there is a high level of financial literacy at the regional level, which is not the case for many Russian cities. He considers that the potential for the growth of Russia’s financial market and its further development is just in this segment.

After that, Dmitry Leus was asked to draw parallels and compare wherepeople from Russia and other countries invest.
Before comparing, Dmitry comes back to the issue of credit experience. The expert says that according to the latest data, half of Russians do not have the experience of bank lending. They often use the principle “to save up – to buy.”According to Leus, this usually refers to the real estate. The investor says that he has recently come across the statistics where it is mentioned that about 12% of households own such realty as a “garage”! What is more, this is a mental feature of the Russian people. Speaking about the availability of assets of households in Russia and Europe, then Leus outlines such situation:
Therefore, Leus concludes that the traditional object of investment is real estate and it is traditionally converted into ownership.
This segment is the most stable at this moment.
The last question has been about the principles that are necessary to be adhered to in order to use and manage finances effectively and competently.
Dmitry says that the subject of this issue is so deep that it requires a good hour of discussions and considerations. Having summarized everything to three main points, Leus emphasizes on the positive budget (cash budget), savings and investments. He puts the sense of exceeding level of your monthly income over the expenditure (in this case, the expenditureis the maintenance of the current level of spending) in the concept “positive budget.”One part the financial resources from the positive balance should be in savings and the other part should be in investments (financial credit documents, the real estate). Back in the beginning of the conversation, which has been about the lack of attention (and sometimes its full absence) to spending, then, the businessperson says that we can often observe the situation when “money is over before they appear.”
Leus states that the competent management of the personal finances is the way to freedom. Therefore, those who are still not on the road, it is important to think twice.
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SOURCE Dmitry Leus


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Goodix’s Industry-leading Fingerprint Sensor Solution Powers Huawei MateBook X Computer

SHENZHEN, CHINA–(Marketwired – May 24, 2017) – Goodix (SHSE: 603160), premier developer of human interface and biometric solutions for mobile devices, today announced that Huawei has adopted Goodix’s innovative fingerprint sensor solution for its new generation MateBook computer, the MateBook X. Launched today in Berlin, Germany and aimed at extreme experience, the slim and stylish MateBook X is packed with powerful performance, including Goodix’s world-leading fingerprint sensor, making it the first Windows Notebook equipped with the “One Step Power-On and Login” function.
Exclusively provided by Goodix, the innovative fingerprint authentication solution enables enhanced security and usability. The independent fingerprint sensor is integrated into a power button embedded with One Step Power-On and Login features, allowing users to activate and unlock devices simultaneously with a single touch.
The cutting edge solution also features a Transport Layer Security (TLS) embedded in the chip, ensuring secure communications between the chip and the system and providing highly secured fingerprint authentication. The fingerprint authentication algorithm developed by Goodix enables highly accurate fingerprint identification and faster unlock speed. The fingerprint sensor solution supports a wide variety of covered, coatings and Invisible Fingerprint Sensor (IFS™) solutions, providing greater design flexibility to manufacturers.
Goodix has been making important milestones since the company introduced its first fingerprint sensor solution in 2014. With an emphasis on R&D investment, a relentless drive to continuously innovate and enhance solutions, the company has today become a premier industry leader, with its solutions being widely deployed in mobile devices from global leading brands. Goodix also successfully pioneered the commercial application of fingerprint authentication solution into personal computers (PC) and tablets. Goodix and Huawei’s collaboration on the all-new MateBook X marks a new era of fingerprint authentication technology applied to PC and tablet products. Goodix’s fingerprint authentication products are also deployed in Huawei’s flagship P10 and P10 Plus smartphones.
From May 30th to June 3rd, Goodix will bring its latest biometric and human interface solutions for mobile phones, tablets and wearables to COMPUTEX TAIPEI 2017. Please visit Goodix’s booth M1319a at Taipei Nangang Exhibition Center to see the cutting-edge technology in action.
About Goodix:
Goodix, a premier developer and provider of fingerprint and touchscreen solutions for mobile phones, tablets and wearables, currently holds a diversified portfolio of fingerprint authentication solutions that provides excellent flexibility to suit the varying preferences from consumers and partners such as Live Finger Detection™, Invisible Fingerprint Sensor (IFS™), Glass-covered and Coating button sensors. In addition, Goodix has been actively involved in assisting Alipay and China UnionPay with reviewing industry standards for fingerprint authentication. As an increasing number of top-tier handset manufacturers adopting fingerprints solutions from the company, Goodix will continue expanding its partner network to lead innovation in the biometrics authentication market.


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