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Weekly Research Highlights – 2 August 2022

For this week’s research article, we dive into new insights on financial inclusivity, insurtech, embedded finance and more. Enjoy researching!

Gen-Z retail investors ‘more risk-averse’, survey claims (Fintech Magazine)
Generation-Z is more likely to be risk-averse with their investments than older generations, according to a new survey, dispelling the myth that younger consumers are more reckless with their money. Futu Holdings, which owns digital wealth management platforms Moomoo and Futubull, compared investment values on its two apps for the first half of the year for consumers in Hong Kong, Singapore and the US. In total, the company serves nearly 20mn users across its platforms. The results offer an insightful glimpse into retail investor trends and behaviours. Report says that consumers generally are choosing to diversify their portfolios against a backdrop of greater macroeconomic uncertainty. Read more

 

Hyperexponential explains why actuaries should love AI (Fintech Global)
hyperexponential, which offers a SaaS pricing platform for insurers, has released a new report on how actuaries can do more with AI. Report highlighted that there are a lot of similarities between actuaries and machine learning specialists, yet only 2,300 out of 94,000 have the term “Machine Learning” on their profile. One of the main reasons is that machine learning in insurance carries high risk. It stated that while they boast more accuracy, better data processing, trend recognition and much more, Read report 

 

What is the difference between advanced and qualified electronic signature?(Fintech Global)
 As more firms digitise their operations, it is likely more confidential documents will need to be signed digitally. Electronic IDentification recently released a post on the difference between advanced and qualified electronic signature. Electronic IDentification stated that companies need to consider their business needs when selecting the appropriate e-signature method. It states that the core differentiation between the three formations of e-signatures is with the level of security it provides, but what ones are the highest security? Read more

 

Can FinTech reduce disparities in access to finance? Evidence from the Paycheck Protection Program (Journal of Financial Economics)
New technology promises to expand the supply of financial services to small businesses poorly served by banks. Does it succeed? The study of the response of FinTech to financial services demand created by the introduction of the Paycheck Protection Program. FinTech is disproportionately used in ZIP codes with fewer bank branches, lower incomes, and more minority households, and in industries with fewer banking relationships. It is also greater in counties where the economic effects of the COVID-19 pandemic were more severe. Substitution between FinTech and banks is economically small, implying that FinTech mostly expands, rather than redistributes, the supply of financial services. Read more 

 

Will insurtech speed up change in UAE’s insurance sector? (GULF NEWS)
The insurance ecosystem is evolving rapidly, and with it, new trends are shaping the way agents and brokers engage with clients. Insurers can no longer lean on the past to enhance their reach. According to the Africa & Middle East Embedded Insurance Business and Investment Opportunities – Q1 2022 Update, the insurance market is expected to grow regionally by 40.2 per cent on an annual basis from $2.32 billion) to $7.76 billion) by 2029. The trends are due in large part to insurtech and embedded insurance offerings. Read more

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