At Fintechnix we are always looking at ways to better understand the market in which our clients operate. Our main game is Life Insurance so we tend to focus on those components in the market that form the process of how our clients sell life insurance products to consumers. We have all heard the saying "life insurance isn't bought it is sold ." Like most cliches it is true. The way most people buy life insurance product (not the short form offering that you can buy over the phone or web) is ... Read more...

We got some great news recently. One of our clients, Clearview, reported a strong maiden operating year since their acquisition of the business from Bupa. In their release to the market they highlight the following: Successful integration of Bupa businesses completed three months ahead of schedule; Focused  on  cost  saving  opportunities  and  on  track  to  achieve  $6.5  million  in  annual  cost sa... Read more...

Back in the 1980's (showing my age here!) I read a survey of US employees being asked, amongst others, the probing question, "What is the most important thing you want from your job?" This question was asked of several thousand workers across multiple industries and socio-economic-greographic levels. The third most important item was remuneration, the second was career progression and the most important was recognition. Well let me tell you that recognition isn't jus... Read more...

A couple of weeks ago I read a fascinating article published by the management consulting firm McKinsey & Co in their professional journal, McKinsey Quarterly. As I read the article I had feelings of deja vu and justification rise within me. For years I have been having the same discussion with clients, prospective clients, colleagues, suppliers in fact anyone who would listen: THE only way for life insurers to improve their effectiveness, efficiency and profitabili... Read more...

The availability of powerful, versatile and truly portable devices like the iPad and iPhone open up a pandora's box of possibilities for businesses everywhere to communicate, exchange ideas and transact with their customers, prospects and other stakeholders in a way never before on offer. A big current user of this iWorld is the Financial Services sector. My iPhone for example, has applications from CBA, St George & ANZ banks that give me the ability to do all the banking nec... Read more...

A day doesn’t go by it seems to me that we don’t make assumptions. Be it in our personal lives or business endeavours we all seem to assume certain things without much thought or investigation. Sometimes our assumptions are right, however, more often than not they are wrong. I suppose that why we sometimes hear that old saying … when you assume you make an ass of you and me. The Financial Services sector is no different – it is full of people who make assumptions. A frien... Read more...

When it comes to Straight Through Processing for Life Insurance.... One is the ONLY number - with apologies to John Farnham I have been having a number of conversations lately regarding straight through processing (STP). What it is, what it represents to the industry and how various organisations have implemented what they refer to as STP. STP has been a standard industry practice for the Investment side of the Financial Services industry for many years. The flow of bu... Read more...

Hello again, there has been a lot happening in our world lately. Philip and I attended the Asia Insurance Review 10th CEO Insurance Summit in Singapore (http://www.asiainsurancereview.com/pages/conference_details.asp?id=143) on 23rd through 25th March. As well, Gerry and the team attended the FST 4th Annual Technology and Inn... Read more...

I am very excited to be able to bring this to you. Over the coming months we will be presenting a range of views and information that we feel is important to you. Our area of expertise is the Life Insurance, Superannuation and Investment industries. We are IT specialists with a passion for building software solutions that deliver efficiencies, flexibilities and commercial advantages to our customers. The way we do this is many facetted; but is underpinned by an aggressive, amb... Read more...