May 8, 2021

industry

AWS launches FinSpace, a data analytics service for financial industry

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Amazon’s AWS cloud business has launched a new data management and analytics service for the financial sector.

As is now the case in most industries, data serves as the driving force behind financial service businesses, spanning banks, insurance companies, hedge funds, and more. However, this data — structured or unstructured — often lives in a silo separate from a company’s other data. Being able to aggregate and catalog this data can help companies unlock insights. This may include identifying transaction patterns, profiling customers, and

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Loop is Reforming the Car Insurance Industry. Meet Its Creators

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The

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Self Driving Cars Head Toward Collision With Insurance Industry Status Quo

Millions of Americans are injured, and tens of thousands killed, in auto accidents each year. Self-driving cars should reduce those numbers as they take to U.S. highways and roads. As a result, “crash economy” industries that provide repair, salvage, medical and financial services may be headed for an overhaul.




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The insurance industry is a leading candidate on that list. Research firm IBISWorld pegged insurance as a $311 billion piece of the crash economy. By 2026, insurers will begin to see premiums decrease as a result of autonomous vehicles, according to consultant Accenture. By 2035, annual premium revenues are projected

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2020’s P/C Insurance Industry Results and What They Mean for 2021

The most recent tallies of financial results by rating agency analysts reveal that the property/casualty insurance industry weathered the storms of catastrophe losses and COVID, with one segment actually reporting better combined ratios and higher income than in 2019.

A Mar. 16 report from Moody’s Investors Service, “Rising commercial pricing and economic recovery support earnings in 2021,” reveals that catastrophe losses had a bigger impact than COVID on industry financial results. Analyzing the results for 22 rated U.S. P/C insurers, Moody’s estimates that the group posted $5 billion in coronavirus-related claims and $12.8 billion in weather-related catastrophe losses.

The $12.8

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Personal Finance: The Industry Can’t Ignore Racial Wealth Inequality Anymore

Photographer: Joe Raedle/Getty Images North America

When well-known personal finance author and personality, Dave Ramsey, said in an interview on Fox News that he didn’t believe in stimulus checks, because “if $600 or $1400 changes your life, you were pretty much screwed already,” social media erupted with responses of rage. 

His statement felt like a summation of the traditional, often shame-based approach

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Hippo to Go Public in Merger with Reinvent Technology Partners Z; Company is Transforming the Home Insurance Industry

PALO ALTO, Calif.–(BUSINESS WIRE)–Hippo Enterprises Inc. (“Hippo”), the home insurance group that created a new standard of care and protection for homeowners, has entered into a definitive business agreement with Reinvent Technology Partners Z (“Reinvent”) (NYSE:RTPZ), a special purpose acquisition company (“SPAC”) that takes a “venture capital at scale” approach. Upon the closing of the transaction, the combined company will be publicly traded.

Hippo: A Protective, Modern Approach to Home Insurance

Founded in 2015, Hippo’s goal is to make homes safer and better protected by taking a proactive approach designed to prevent losses. Harnessing real-time data, smart home

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