Things recent read, seen and heard at Qorus - Edition #38

Discover the articles, and interviews of this week.

Qorus Exclusive Content

Innovation radar: Giving kids the tools to get started

Children like to imitate grown-ups and very quickly they dream of having the same tools as their parents to manage their money and afford the products and services of their dreams. More and more banks are therefore offering children and teenagers their first real life financial products under the supervision of their parents: current accounts, savings accounts, prepaid cards or debit cards, and apps to manage their money with some clever tools to help them save. The solutions are numerous with fun and pleasant designs.

We have listed some of the best initiatives here .

Insurance Innovation of the Month: Clal PAY

Qorus-Accenture’s Insurance Innovation of the Month Award for April goes to Clal PAY by Israel’s Clal Insurance, a timely solution that streamlines payment of travel insurance claims and introduces the digital wallet to the world of insurance.

Read the full article here .

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NewTech Friday: DanAid – Offering low cost health cover in West Africa

Fabrice Mbanga is the CEO and Founder of DanAid, an innovative insurtech created in Cameroon that enables low-income populations to have access to an affordable health insurance service.

Discover the interview here .

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Insurance firms can skim your online data to price your insurance — and there’s little in the law to stop this

What if your insurer was tracking your online data to price your car insurance? Seems far-fetched, right? Yet there is predictive value in the digital traces we leave online. And insurers may use data collection and analytics tools to find our data and use it to price insurance services. For instance, some studies have found a correlation between whether an individual uses an Apple or Android phone and their likelihood of exhibiting certain personality traits. In one example, US insurance broker Jerry analyzed the driving behavior of some 20,000 people to conclude Android users are safer drivers than iPhone users. What’s stopping insurers from referring to such reports to price their insurance?

Read the full article here .

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Reshaping Banking: TBC Group

TBC Group – one of the key players in Georgia and Uzbekistan embraced agile transformation already some time ago. In this interview with Qorus and ebankIT, Tornike Gogichaishvili who is the Deputy CEO of Retail Business at TBC Bank shares more about their key transformational projects and how they differentiate themselves in the intense competition in their market. This interview is a part of the upcoming Digital Reinvention Radar 2023 report brought to you by the Digital Reinvention Community.

Discover the interview here .

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Reinventing financial services for SMEs: kompasbank

kompasbank is a Denmark-based neobank for SMEs that began operating in full in January 2022 and currently operates in Denmark, Germany and Spain. We interviewed its Founder and Co-CEO Michael Hurup Andersen to learn more about this exciting new player in the banking industry.

Discover the interview here .

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ESG business potential: 7 principles for giving SMEs the support they need

The rise of ESG offers banks a rare opportunity to draw closer to SMEs and provide them with the products and services they need to transition to a green economy. To capitalize on this opportunity, however, banks will need to change how they do business with SMEs. Why on earth should I talk to my bank about ESG? That’s the attitude of many small business owners. And with good reason. Competitors, trade associations, and media platforms are the trusted sources of information and help for most small and medium-sized enterprises (SMEs). Banks are where SMEs go for funding. But SMEs could soon be calling on banks for a lot more than finance. And global environmental, social, and governance (ESG) concerns might well be the spur that brings them closer together.

Read the full interview here .

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How to make financial education more effective

The Japanese government aims to upgrade financial education as one component of a plan, unveiled last November, to double households’ asset-based income. One key issue in terms of achieving this objective is how to most effectively engage the 80% of Japan’s adult population uninterested in investing. Creating an environment with built-in nudges could be an effective approach. An article by Katsutoshi Takehana, Group Manager, Financial Market & Digital Business Research Department at NRI.

Read the full article here .

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Circular economy: Rethinking our consumption and business models

According to Anne-France MARIACHER, co-founder of the Circular Economy Collage who regularly collaborates with ESCP Business School, the latest edition of the Circularity Gap Report shows that recycling and reuse are not the real levers to decouple our economy from resource pillage. The real lever lies in our ability to rethink our consumption towards sufficiency and to invent new business models, by enhancing products’ lifespan, intensifying their use, and quitting a volume-seeking model toward a value-offering model. An article with two insightful examples from Michelin and Decathlon.

Read the full article here .

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Curated Industry News

KBank digitization drive adds more than two million new users to its K PLUS online banking app. Learn more here .

ING and Salt Edge join forces for widening open banking use cases. Learn more here .

KBank-EGAT-KBTG join forces to develop the “Punfai” application. Learn more here .

Ireland’s financial literacy lags peers according to a new national study. Learn more here .

Amwins launches excess wildfire product for California residential properties. Learn more here .