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Aon and Marsh McLennan call on (re)insurance industry to aid Ukraine’s resilience

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–      The firms emphasized that the removal of blanket exclusions would catalyze Ukraine’s growth and future reconstruction

MONTE CARLO, Sept. 8, 2024 /PRNewswire/ — Aon and Marsh McLennan today called on the (re)insurance industry to build upon the capital, expertise and historical role of the (re)insurance industry to help Ukraine’s resilience by catalyzing economic growth and strengthening the country’s foundations for a post-conflict economy. The firms emphasized that the removal of blanket exclusions, which ignore the diversity of risk throughout the country, would further support for Ukraine’s economy.

Additionally, since the start of the war, many global reinsurers have grouped risks originating in Ukraine, Russia, and Belarus together, excluding them from reinsurance contracts, limiting (re)insurance capital and impeding economic growth and stability. The inclusion of Ukraine with Russia and Belarus is not rooted in the data and analytics that drive the assessment of risk and overlooks that Ukraine, while under siege, seeks to further align as a free and democratic economy and member of the European Union. 

“Marsh McLennan is dedicated in our support of Ukraine – helping it attract global investment to rebuild the country, and recover from the devastating impact of war on its people and economy,” said John Doyle, president and CEO of Marsh McLennan. “We call on the global insurance community to join us in this effort and end blanket exclusions for Ukraine.”

“Aon’s support of Ukraine leads us to look forward to its economic recovery,” said Greg Case, CEO of Aon. “Insurance capital is essential for the reconstruction of Ukraine’s health care, energy and agricultural sectors. We’re asking the insurance industry to look closely at Ukraine’s risks and work to strengthen the public private partnerships under development.”

Marsh McLennan and Aon each are already working with the Ukraine, U.S. and UK governments, along with many other international organizations, to support Ukraine’s economy as it endures ongoing attacks and accelerate investment in the country’s eventual economic recovery.

In March, Marsh McLennan announced the expansion of its public-private partnership with the Ukraine government to cover all shipping to and from Ukraine’s ports. This follows Marsh McLennan’s support in helping the Ukraine Government develop its war risk data platform which provides investors and (re)insurers with granular transparent data on the impact of the conflict to date and degree of war risk. 

In June, Aon worked with the U.S. International Development Finance Corporation to create a first-of-its-kind insurance program to support war risk policies for businesses operating in Ukraine. The availability of insurance for war risk, especially across health care and agriculture, will stimulate economic expansion and employment, while strengthening the foundation of Ukraine’s economy to support a robust reconstruction.

The firms assert that arbitrary exclusions for Ukraine contribute to confusion about the vastly different levels of risk in the country. As a result, there are potential issues with how (re)insurers underwrite risks between regions directly impacted by the war and many areas of central and western Ukraine which have suffered little to no war damage. The use of data and analytics can enable more impactful insights into where insurance capital can contribute to Ukraine’s reconstruction and further economic growth.

About Aon
Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, our colleagues provide clients in over 120 countries with the clarity and confidence to make better risk and people decisions that protect and grow their businesses.

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About Marsh McLennan
Marsh McLennan (NYSE: MMC) is a global leader in risk, strategy and people, advising clients in 130 countries across four businesses: Marsh, Guy Carpenter, Mercer and Oliver Wyman. With annual revenue of $23 billion and more than 85,000 colleagues, Marsh McLennan helps build the confidence to thrive through the power of perspective. For more information, visit marshmclennan.com, or follow on LinkedIn and X.

Media Contacts

Aon
[email protected]
Toll-free (U.S., Canada and Puerto Rico): +1 833 751 8114
International: +1 312 381 3024

Marsh McLennan
Jason Groves
[email protected]
+44 (0)7733 325 587

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Fintech PR

Savl Rebrands to Unity Wallet and Launches Loyalty Program, Boosting User Experience and Value

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Known for its exclusive tools and unique features, Unity Wallet delivers the most comprehensive self-custodial crypto wallet and Web3 experience, for seamless and secure DeFi management. 

LONDON, Sept. 19, 2024 /PRNewswire/ — Savl, the self-custodial crypto and Web3 wallet that combines industry-leading encryption, unique functionality, and intuitive design has rebranded to Unity Wallet, signifying a new era for the project.

With a mission to unlock DeFi’s potential for everyone, Unity Wallet promotes broader self-custody adoption through an intuitive, user-friendly design paired with industry-leading encryption and security.

Launched in 2020, Unity Wallet operates in over 100 countries and has generated more than 1 million wallets. Its innovative features set it apart, including a built-in social community, sub-accounts, staking, WalletConnect, encrypted messenger, and the unique Know Your Transaction (KYT) function, which allows users to assess risks on wallet addresses, protecting against fraudulent activities and ensuring a safer self-custodial crypto and Web3 wallet experience.

Further expanding its offerings, Unity Wallet now actively rewards its users through its recently launched loyalty program. Rewardable actions include buying, selling, swapping, sending, staking and socially engaging with other users. Points can then be used to progress through program tiers, reduce transaction fees, enjoy up to 50% cashback on cross-chain and DEX swaps, and be redeemed for additional sub-accounts, KYT checks, unique perks, and 24/7 dedicated support.

James Toledano, Chief Operating Officer of Unity Wallet, said, “Since its inception, our mission has been to simplify access to crypto. As the crypto landscape has evolved, so has Unity, leading to this rebrand and marking a pivotal point in our journey. Our new name reflects our commitment to providing a unified, accessible, and empowering user experience for all. The loyalty program is a key step towards this vision, designed not only to reward our community but also to drive the broader adoption of decentralized finance and enhance user experience and value.”

Unity Wallet can be downloaded via the Apple App and Google Play stores. For more information on the loyalty program visit https://www.unitywallet.com/loyalty-program.

About Unity Wallet

Unity Wallet is a self-custodial crypto and Web3 wallet that combines industry-leading encryption, unique functionality, and intuitive design. Launched in 2020 as a solution to the fragmented nature of existing wallets, Unity Wallet is a sleek alternative to complicated experiences. It operates across 100+ countries, with an impressive track record of 1,000,000 wallets generated. Its innovative features set it apart, including a built-in social community, encrypted messenger, and its unique Know Your Transaction (KYT) function, enabling users to conduct risk assessments on wallet addresses to safeguard against illicit activities. Unity Wallet safeguards user assets with a robust set of security measures, including a 24-word recovery phrase, anti-theft pin codes, and optional FaceID authentication, all powered by cutting-edge cryptographic algorithms and protocols. With its comprehensive suite of services, users can effortlessly engage in buying, selling, and storing over 250 cryptocurrencies, as well as cross-chain and DEX swapping across 100s of trading pairs, along with the ability to stake assets and create multiple sub-accounts for optimized asset management. Unity Wallet also facilitates the purchase of everyday products and services in over 190 countries using cryptocurrency, while its advanced WalletConnect integration grants access to the Web3 world and thousands of decentralized apps (DApps).

 

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Experian Research: GenAI and data-driven decisioning are key competitive advantages for global business leaders

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LONDON, Sept. 19, 2024 /PRNewswire/ — Experian’s latest research, conducted by Forrester Consulting, delves into the strategies of senior decision-makers in the financial services and telco sectors across EMEA and APAC. The survey of over 1200 C-suite and Director level leaders in Australia, Denmark, Germany, India, Italy, New Zealand, Norway, South Africa, Spain, and the Netherlands reveals how businesses are leveraging Generative AI (Gen AI), consolidating datasets to improve decisioning models, and prioritizing customer experience to navigate challenging economic conditions and technological disruption.

The race to harness GenAI is well underway

Business leaders identified technological disruption as the third largest external factor impacting their business in the coming two years, putting emphasis on the race toward AI supremacy to improve business efficiencies and reduce costs. Sixty-eight percent of participants believe that competitive advantage in their industry will be dependent on who can make the best use of AI, and nearly three-quarters (73%) of the technology leaders are exploring GenAI use cases with a view to implement them within the next year.

Technological disruption is a catalyst for improving customer experience

Survey respondents highlighted a centralised cloud-based platform as a notable factor to improve risk strategy. Nearly half (47%) foresee additional credit stress and tightened lending criteria. Many risk leaders (42%) also indicated that the top risk priority is to improve the ability to identify financially vulnerable customers. Integrating data sources, leveraging AI and streamlining data-to-insight-to-action processes to enable lenders to achieve a holistic borrower view, improve customer relations and foster lending practices.

Combining datasets into a single cloud-based platform is key to enhancing analytical capability

Data and analytics leaders are prioritising a unified platform for siloed datasets to accelerate AI/ML model development and deployment. More than half (55%) of respondents believe current development times are too long, with 48% stating that they are updating their models more frequently due to shifting consumer behaviour.

“This year’s research highlights the growing importance of AI and data analytics for businesses seeking a competitive edge,” says Malin Holmberg, CEO, EMEA & APAC, Experian. “While we are still facing broader macroeconomic challenges, the majority of leaders remain optimistic about future growth and increased technology investment.”

Download the full report here.

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About Experian

Experian is a global data and technology company, powering opportunities for people and businesses around the world. Learn more at experianplc.com.

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Contact: Yolanda Zondo, [email protected] 

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Itaú Private Partners with Addepar to Deliver a Comprehensive Global Investment Solution

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Exclusive collaboration enhances wealth management services with cutting-edge data aggregation and performance reporting tools

NEW YORK, Sept. 19, 2024 /PRNewswire/ — Itaú Private, a leading provider of private banking services, has announced an exclusive partnership with Addepar, a global leader in technology and data solutions for investment professionals. This strategic collaboration grants Itaú Private exclusive access to Addepar’s comprehensive data aggregation and performance reporting platform in Brazil, enhancing the bank’s ability to deliver superior service and investment solutions to its advisors and clients.

Through this partnership, Itaú Private clients will gain access to powerful tools and detailed reports that provide insights into their global wealth—both onshore and offshore—including returns, transactions, historical data, and balances. These capabilities will enable a fully automated and personalized evaluation of each client’s unique financial interests and needs.

“The partnership with Addepar brings a new level of sophistication to the services we offer, allowing us to better align our solutions with each client’s distinct goals,” said Fernando Beyruti, Global Head of Itaú Private Bank. “This initiative also enables us to introduce an advisory model that evaluates clients’ total assets, deepening our relationships and reinforcing our commitment to client-centric services.”

Addepar serves a global client base, providing advanced financial technology solutions to investment professionals across more than 45 countries. The platform currently supports over $6 trillion in assets under management, offering robust data aggregation and performance reporting tools that empower clients to make better decisions and deliver more informed advice.

“We are excited to collaborate with a market leader like Itaú Private, enabling us to bring our advanced financial technology solutions to one of the most dynamic and innovative private banks in the world,” said Peter O’Brien, Global Head of Sales and Partnerships at Addepar. “Together, we are committed to empowering Itaú Private’s advisors with state-of-the-art tools that drive efficiency and deliver exceptional value to clients.”

About Addepar

Addepar is a global technology and data company that empowers investment professionals to deliver precise and informed guidance to their clients. Trusted by hundreds of thousands of users worldwide, Addepar’s platform aggregates portfolio, market, and client data for over $6 trillion in assets. The platform integrates with more than 100 software, data, and service partners, providing a comprehensive solution for a diverse range of firms and use cases. Addepar has a global presence, with offices in Silicon Valley, New York City, Salt Lake City, Chicago, London, Dublin, Edinburgh, and Pune.

About Itaú Private

Itaú Private is a market leader with approximately R$ 880 billion in allocated capital—R$660 billion onshore and R$162 billion offshore (as of March 2024)—and holds around 30% market share in its segment in Brazil, according to data from Anbima. With a team of around 800 employees, including 350 professionals across its international offices in the United States, Portugal, Switzerland, and the Bahamas. Miami is Itaú Private’s international hub that provides clients with wealth management and banking products and services, including portfolio management and personalized advice by experienced investment professionals. In Switzerland, the conglomerate has a bank, and in the Bahamas, a trust management company, which helps to serve clients who have to set up investment structures abroad.

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