06
NEWS Getting down with the cool kids
IBS Journal reports from Bond Dickinson’s FinTech/InsurTech Forum, which took place in London during November
Senior Reporter Alex Hamilton
Stock Exchange, is perhaps an apt place to host a seminar on industry disruption. Such was the venue for Bond Dickinson’s ‘From Sandbox to Stocks’ roundtable event. In attendance were figures from across the FinTech and InsurTech world, ready to discuss whether disruption is a force for good in the industry. At their head was Rory Cellan-Jones, freelance technology correspondent and author. He got the panel off to a start with a simple statement: “FinTech is an excuse for the banks to ‘get down with the cool kids’”.
“T
Gavin Littlejohn, Chairman of the Financial Data and Technology Association, opined that FinTech can be divided neatly into two distinct groups: “enablers” and “business models”. The former create technology for existing
www.ibsintelligence.com © IBS Intelligence 2016
he home of capitalism”, the London
companies while the latter create “new opportunities”. There’s not enough customer-focused technology out there, while governance and legislation need to keep pace with the levels of change that the industry is experiencing.
Ariel Berman, Vice President of AIG, said that FinTech can offer a lot to existing firms, and can create exceptional “new efficiencies”, especially in the insurance space, where major players are still working with stacks of paper. Despite this, the potential risks are high – the industry could be looking at another dot com bubble if it isn’t careful. An acquisitive nature lends itself to the climate of the industry, and companies should be looking to create their own in-house teams. “Hipsters in Shoreditch can’t do things better than AIG
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52
