Business Exxon lobbyist details efforts to blunt Biden’s climate agenda in leaked Greenpeace UK video - The Washington Post |
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| Posted: 04 Jul 2021 07:04 PM PDT |
| Porsche recalls 43,000 Taycan EVs over sudden power loss Posted: 04 Jul 2021 04:55 AM PDT |
| China bans Didi, its biggest ride-hailing service, from app stores Posted: 04 Jul 2021 10:29 AM PDT |
| Blizzard vets start up RTS studio with Tencent backing Posted: 04 Jul 2021 09:32 AM PDT |
| IBM President Whitehurst Exits in CEO’s Shake-Up; Shares Dip Posted: 04 Jul 2021 11:59 AM PDT |
| Analysis: Jeff Bezos is stepping down as Amazon CEO. He'll still have huge power at the company Posted: 05 Jul 2021 01:59 AM PDT |
| Is the cost of regulatory compliance too high? RegTech may be able to provide new solutions Posted: 05 Jul 2021 01:58 AM PDT Recently, Fintech Global released the RegTech100 list. There has never been a lack of novel things and terminology in the development of society. In addition to the familiar new concept of InsurTech, which has been widely spread in recent years, all walks of life are also using the same idea to create a series of Tech related terms, such as MarTech, RiskTech, PropTech,etc. RegTech is also one of the new concepts that have recently entered our vision. The appearance of a new word or a series of new words often represents a general trend. From the phenomenon of a large number of word-making around the root of "technology", we can also see the development of technology and its degree of integration with all walks of life. In the insurance industry, in addition to insurance technology, regulatory technology also seems to have become a factor affecting the industry, and it is increasingly becoming a trend. What is RegTech?RegTech is abbreviated from regulatory technology, which is a new technology that aims to use information technology to improve the regulatory process. As early as 2014, Andrew G. Haldane, chief economist and executive director of monetary analysis and statistics at the Bank of England, put forward the idea of a technology-led system in a keynote speech at the University of Birmingham. At the government level, the UK Financial Services Regulatory Authority is the first government agency to establish and promote the term regulatory technology, and defines RegTech as a subset of financial technology, focusing on the use of more advanced technology to effectively implement regulatory requirements. Generally speaking, RegTech is divided into two categories, namely, regulatory technologies for regulatory agencies and regulatory technologies for market participants. The first category uses technology-related solutions and data science to help financial institutions regulate the market more efficiently, and supports financial institutions to carry out work related to financial stability, integrity, inclusiveness, and consumer protection, thereby monitoring competition, and promoting more cross-departmental and cross-jurisdictional cooperation between regulatory agencies. The second category is the regulatory technology for market participants, which can help participants deal with compliance issues and respond to changing regulatory requirements. RegTech emphasizes regulatory monitoring, reporting and compliance, which can bring many advantages to the financial industry. RegTech's goal is to improve transparency and consistency, achieve standardization of regulatory processes, and provide reasonable interpretation of ambiguous regulations, so as to provide higher-quality regulatory services at a lower cost. Although the regulatory technology was primarily used in the financial industry at the beginning, with the development and maturity of this technology, it has expanded to any other industries subject to regulatory constraints, and is particularly popular in the consumer goods industry. In the process of continuous expansion, this technology has also entered the insurance field. Insurance industry: What can RegTech be used for?Insurance institutions are unanimously seeking to reduce costs, improve efficiency, and establish stronger compliance programs to adapt to the changing laws and regulations of regulatory agencies. In this case, how to use regulatory technology solutions quickly and effectively will affect the future success of insurance institutions. Deloitte's Insurance Regulation and Technology report shows that in the insurance industry, the application of regulatory technology includes audio monitoring solutions, regulatory reports, sales monitoring, compliance testing, anti-money laundering, and rate accuracy tools in different regions. AgentSync:Insurance compliance automation provider on Salesforce platformWe have previously reported on the financing information of AgentSync, an automated insurance compliance automation company in the United States. The company was founded in 2018 and is headquartered in Denver, Colorado. It has received two rounds of financing, totaling $11.1 million. AgentSync is an insurance compliance automation supplier built on the Salesforce platform. It can regulate and standardize the compliance requirements of manufacturers in different states, and update them at any time according to the dynamics of laws and regulations to facilitate the management of compliance requirements. AgentSync directly integrates the NIPR and FINRA of the regulatory database through Salesforce, so it can automatically meet compliance requirements and manage key business processes. The company has launched a variety of solutions for insurance companies, agents and MGAs. AgentSync provides an External Producer Portal for insurance agents, which simplifies the agent's login process, provides a smooth and modern login experience, helps agents greatly shorten sales time, and reduces the security risk of sending sensitive data via email. The portal provides functions such as self-service login and data collection, synchronization of agent records, automatic contract signing and so on. AgentSync has reached a partnership with the National Insurance Producer Registry (NIPR), which was established in October 1996. It is a non-profit technology company that provides insurance professionals with cost-effective, streamlined and unified licensing data and compliance service. By integrating with NIPR's insurance license data, the External Producer Portal can help operators manage 5,000 agents. Operators can directly fill in all agent information from NIPR, select other fields or documents to upload, or import agent records from NIPR PDB , and complete the login process with one click. Operators can check the number, status, validity period, etc. of insurance licenses of agents through the portal, and send reminders to agents based on the validity period to avoid compliance problems. This portal can also automatically execute agency contracting. With just one click, insurance companies can automatically generate agency agreements, which contain agency information captured when logging in. AgentSync launched The Agent Portal for agents, including reporting and analysis functions, compliance scorecards, real-time compliance control and other functions. Agents can view insurance company data stored in Salesforce and use the reporting and analysis functions provided by the system to produce report by one click. The Agent Portal automatically generates Producer Compliance Scorecards for producers on the website, which can monitor compliance. In addition, the portal also supports real-time compliance control to help agents avoid violations. At present, the company has reached cooperation with insurance companies such as SageSure, Lemonade, Hippo, Hub, and Franklin Mutual Insurance. According to data released by Salesforce, in the first year of using AgentSync, Lemonade reduced its agent login time by 70% and the time it takes to sign agency contracts by 40%, saving a total of $130,000 in costs. BearingPoint RegTech:Left-hand institutional end, right-hand supervisory endBearingPoint RegTech was established in 2002 and is headquartered in London, England. It provides financial companies, insurance companies and regulatory agencies with products such as regulatory reporting, data management, capital planning, tax reporting, and data management platforms, and can handle Solvency II and other regulatory regulations. BearingPoint RegTech provides Abacus Insurance solutions for insurance institutions and pension institutions, which can provide reports in compliance with regulations of EU Solvency II, Institutions for Occupational Retirement Provision (IORP II Directives), European Insurance and Occupational Pensions Authority (EIOPA), and so on. This solution covers a wide range of functions for data collection, verification, and submission of quantitative and qualitative reports, and provides multiple possibilities for analyzing and storing data, so that insurance companies can use and manage reports in addition to regulations and statistical reports. In addition, Abacus Insurance can be updated regularly according to changes in regulations to help customers stay up-to-date and comply with regulatory requirements. In addition to providing solutions for insurance institutions, BearingPoint RegTech also launched Abacus Regulator for regulators, which is an integrated modular solution for monitoring financial risks, providing central banks and regulators with basic functions of collecting, analyzing, distributing, and supervising data. In this way, Abacus Regulator helps regulators effectively manage the ever-increasing amount of data, complex data formats and workflows. Abacus Regulator provides standard supervision and business content statistics that comply with EIOPA and other regulatory requirements, and can help deal with different types of reports, such as EIOPA Solvency II, EIOPA stress test, and so on. Regulatory technology: the key to connect institution end and regulatory endIt can be seen from the above cases that at present, the application of regulatory technology in the insurance industry mainly relies on the mastery and processing of data. AgentSync has reached cooperation with NIPR to open up external data sources and use these data to automate processes for insurance companies and agents. The standardized reporting services provided by BearingPoint RegTech for financial institutions, insurance institutions and regulatory agencies also rely on the integration and processing of data to some extent. Therefore in the subdivision of regulatory technology, data is the primary productive force, and data-related reporting business also occupies a large part. However, the report released by Deloitte shows that regulatory technology can be used not only in data-related business and processes, but also in other links, such as sales monitoring, anti-money laundering, capital use supervision, standardization of insurance product design, corporate governance inspections and so on. These links are based on data, often involving other unstructured data and factors, and usually require solutions other than data. The products of AgentSync and BearingPoint RegTech both focus on a certain part of the insurance compliance process, and have not achieved full life cycle coverage. Although part of the application of compliance technology can bring great value to insurance institutions, from a broader perspective, the real significance of regulatory technology lies in full-process coverage. The full process coverage mentioned here involves two levels. The first is the full life cycle coverage of insurance, which responds to compliance needs with full-stack technical means, covering pre-, during, and post-event stages, as well as the internal and external aspects of insurance institutions. From customers, product design, marketing methods, internal operations, to external risks, it should help achieve compliance in all links. Of course, from the perspective of insurance companies, it takes a lot of effort to accomplish this, and insurance compliance technology cannot be completed overnight. The second level is to connect the institutional end and the regulatory end, which is a more important level. The cooperation between AgentSync and NIPR is to some extent an example of connecting the institutional end and the regulatory end, but AgentSync integrates a large amount of data on the basis of supervision. From the perspective of BearingPoint RegTech, the company provides solutions for both the institutional end and the regulatory end. From a deeper perspective, if the company can open up solutions for both ends and achieve functions such as synchronization of financial reports, it will be even more conducive to improving the efficiency of both parties. At present, many companies in China have developed compliance systems in accordance with regulatory requirements to assist various institutions in compliance matters. For example, the visual traceable system developed by ZhongAn Technology uses cutting-edge technologies such as data visualization restoration and data arrangement to achieve accurate and visual restoration of user behavior, solve the problem of visual traceable management of Internet insurance sales behavior, meet regulatory requirements, and effectively help insurance companies resolve Internet insurance disputes . In the long run, the more ideal regulatory technology is to be able to open up the regulatory technology on the institutional end and the regulatory end, realize the synchronization of data and information, use automated processes to better respond to changing regulatory requirements, and apply analytical methods to provide business functions. It should advise and identify areas where regulatory risks are increasing, such as agent sales, evaluation and form filing, customer and third-party fraud, and business operations issues. In this process, technology suppliers are bound to face various challenges. The closedness of the supervisory system may be difficult to overcome for a while. At the same time, the privacy and confidentiality of data and other materials also poses a major challenge. But such technology is bound to become a major trend in regulatory technology, and it will also bring benefits to the insurance industry or other industries. original source: InsurView [link] [comments]  |
| Staff Augmentation Vs. Project Outsourcing: Which Is Best For Your Organization? Posted: 05 Jul 2021 01:45 AM PDT |
| Posted: 04 Jul 2021 09:53 PM PDT Okay okay…I'm ready to start my company as a music artist and I believe I have found the proper name for my company/persona. Now my question is, as far as marketing, does it make sense to combine my first and last name together? Let's say my name is Bill Bob. Would it make more sense from a marketing perspective to go under Bill Bob, or billbob. I am talking about SEO, brand awareness, and the ability to be recognized…. Thank you for any responses! [link] [comments]  |
| Posted: 04 Jul 2021 10:10 PM PDT |
| Posted: 04 Jul 2021 09:31 PM PDT Check out "Business Growth Hack By Vibhu Sharma" on Eventbrite! Date: Sat 28 Aug, 11:30 pm https://www.eventbrite.com/e/business-growth-hack-by-vibhu-sharma-tickets-162233501771 [link] [comments]  |
| High-Stakes Oil Diplomacy Puts Future of OPEC+ Deal at Risk Posted: 04 Jul 2021 06:19 AM PDT |
| Business structure that allows control without being the "face" of the company Posted: 04 Jul 2021 03:09 PM PDT I am working toward trying to build a tech start up. its a long process as I'm trying to do things my self due to limited resources. I'm very good at planning things and have a strong idea of systems, policies, goals I want to achieve with my business. But due to health reasons and other factors, I'm not sure if I would necessarily be the best person to handle all the actual day to day running of it. I don't want to give up my business dream because my health would make it difficult for me to be as involved. I want to be able to hire someone to do that, give them the direction i want them to go and have them take care of the details. I would have the final say in most cases. My understanding is that a CEO is usually the one that has the final say, but are there CEO's that are not as front and center or even as directly involved? Perhaps working more behind the scenes to guide the business while someone else actually handles the Day to day things? Could I just be the owner and direct the CEO as to where to take the business? I've heard if I have a BOD, they would kind of handle this task, and if I was the majority owner, this could happen, but are there other structures to consider? Thanks [link] [comments]  |
| What does a career in global finance look like? Posted: 04 Jul 2021 04:52 AM PDT I'm currently pursuing an MA in international affairs and an MBA, with 6 years of experience as an intel analyst (read: geopolitical analyst). I'm wanting to find a job in finance that leverages the skills I've learned in my MBA as well as my understanding of international affairs. I've been investing on my own for a few years now, and really think an understanding of international affairs is helpful in identifying opportunities/assessing risks associated with certain, more globally oriented, investments. However, I'm not sure what those jobs look like. Any ideas? General advice is always appreciated, but I'm hoping to find job postings/titles I can use as a guidepost. I want to work at the intersection of business and international affairs (but firmly on the business side), and given how seamlessly capital flows across borders, finance seems like the logical fit to me. [link] [comments]  |
| What do I need to start a Physical Therapy business? Posted: 04 Jul 2021 05:53 AM PDT I don't know anything about starting my own business lol [link] [comments]  |
| Posted: 04 Jul 2021 03:56 AM PDT Can someone explain to me how exactly can I calculate these? With LTIFR I mean "Lost Time Injury Frequency Rate". Is TRIR (Total Recordable Incident Rate) same as TRIFR (Total Recordable Injury Frequency rate)? Maybe the difference is that the first one is for incidents, and the second one is for injuries only (which are a type of incident)? Also, can you tell me the formulas for those three? As far as I can understand, TRIR and TRIFR are the same, and the formula for LTIFR is the same with TRIR/TRIFR, except the later one includes all types of injuries (fatalities, first aid injuries, LTI and medical treatment injuries). So basically although in TRIFR there's the word "injury", that word is being understood as a wider term (fatalities, first aid injuries, LTI and medical treatment injuries). Right? Thanks in advance. [link] [comments]  |
| How serious a problem is American scientists/engineers being illiterate in Chinese? Posted: 04 Jul 2021 03:11 AM PDT EDIT: Some people seem to be arguing that American scientists and engineers don't need to learn how to read Chinese (because they can find someone to translate or machine translations exist). Sure sounds wrong to me -- if this were true, why would anyone bother to learn any foreign language? About 200 years ago, the Chinese government made teaching Chinese (I think both spoken and written) to foreigners illegal. Some westerners did of course manage to learn to speak but I would imagine the number of British who actually could read (let alone write) Chinese was miniscule, like literally less than 100. It is of course very hard, probably no major written language is more difficult and as you might suspect, it goes far beyond memorizing characters although that is a very hard part -- it also requires becoming familiar (I believe) with 4 character idioms although perhaps for technical papers this is not so important -- I just don't know; what I do know is I can't read anything that comes out of China but probably any Chinese scientist or engineer can read everything published in English and/or can get a good translation. It seems to me we are probably facing the same problem today. Whereas Chinese engineers can read through American patents and scientists can read American journals, China can pretty much protect their important stuff simply by not allowing it to be translated. (Not to mention actually trying to keep it secret.) But I am not talking about anything sinister; the language gap I suspect means that the flow of ideas is very weighted in the direction towards China. The long-term effects will be devastating. Maybe I am wrong; maybe many American scientists and engineers are literate in Chinese -- I know that when I took Mandarin 40 years ago, it was fairly new to the curriculum at a decent university (and Japanese would only be taught for the first time in 1981). Or am I wrong in that either China is producing no important papers or if they are, we can be sure they are being translated? (Maybe automated translation of Chinese papers is sufficient?) [link] [comments]  |
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