Insurable Interest Canadian Insurance Blog

Artificial intelligence is helping to uncover rotten apples in financial services. That’s what Kim Crawford Goodman, CEO of Smarsh, a leader in communications compliance, argues in an interview with ThinkAdvisor. “We’re showing institutions the bad actors they might have,” Crawford Goodman says. “We look for things like insider trading or collusion to make sure [institutions] are keeping their systems safe and investors’ money protected.” She forecasts that digitization and AI will transform compliance and oversight for financial institutions. Such changes will protect clients’ assets more efficiently and effectively, she adds. Smarsh, whose clients are both large and small institutions, uses AI for analyzing data at major banks, including “every single email sent in the last 10-plus years, every single text message, every trade,” says Crawford Goodman, a finalist for executive leadership in ThinkAdvisor’s 2023 Luminaries awards. With AI, Smarsh finds evidence of insider trading, for example, by going through masses of data and connecting patterns and noting elements in many communications from the same individual. “We’re making sure that the truth is preserved,” says Crawford Goodman, previously CEO of Fiserv and a vice president at Dell. Financial advisors will best use AI to analyze investments they recommend to clients, Crawford...

What You Need to Know Part of what you can give clients is a vision. Ikea’s showrooms present a clear vision. Coach seats set up by a typical airline: Not so much. Have you asked your clients what their ideal retirement looks like? You’d probably get answers ranging from playing a round of golf to sipping coffee on the deck of a picturesque lake house to exploring exotic destinations. Everyone has a vision for their golden years, but often not a specific dollar amount for their portfolio. I mean, how many actively imagine themselves skimming over their annual statements to celebrate another year of 10% returns? Retirement planning is about more than return on investment; part of it is envisioning their retirement experience. And if you can maximize your clients’ experience, you can exceed their expectations, no matter the market conditions. Experiences matter. Uninspired salespeople sell products. Sales professionals sell experiences! And let’s be honest: Positive experiences matter. Countless companies (and people) have built their reputation on delivering a positive experience for their customers. Here are two examples that come to mind for me. Topgolf: This is simply a driving range, but people will visit Topgolf on their vacation when...

Each player’s move was projected on a large screen mounted above the stage. To prepare, William Graif, an associate engineer at Deutsche Bank, studied his opponents’ past games. He played his first rated tournament when he was about 5 years old and from then on, he said, chess has always been a “part of my life.” “When I was little and mostly throughout my childhood, I wanted to compete,” Graif said. “I wanted to be the best.” Chess competitions have taken him to Turkey, Vietnam, Hungary and Portugal. While he still has a competitive spirit for chess, he now focuses more on “enriching other people’s lives through the game of chess” and has taught at summer chess camps for kids. Over the 10 rounds played across the weekend, teams typically won or lost all four of their matches. In the two rounds Susquehanna faced off against Goldman, the investment bank lost each time except when Len Ioffe, a managing director, played to a draw against Nan Zhao, a quantitative researcher at Susquehanna. The winning team from Chessify included two grandmasters, Zaven Andriasian and Gevorg Harutjunyan, along with Tigran R. Sargsyan and Ani Harutyunyan. The tournament experience helped draw players in...

2023 Vara New Mexican Rosé ($19) : At this pioneering winery, the first rosé from New Mexico-grown grapes blends 70% cabernet sauvignon with 30% refosco. It shows that a juicy, savory pink wine can emerge even from a harsh desert climate. 2021 Fiol Prosecco Rosé Extra Dry ($18): I sampled this just-launched, sophisticated, light coral-pink wine last week. It’s smoother and more subtle than most rosé proseccos, with berry and floral aromas and a soft, salty-fruit taste. Perfect pool drinking at only 11% alcohol. 2021 Mallea Vineyards Rosé of Grenache ($20): Check out the label on this lively rosé with cherry-ish flavors from a new, small Santa Barbara, California, collaboration between viticulturalist Erik Mallea and winemaker Justin Willet; they aim to produce Rhône varietals from organic grapes. The label art echoes the messages Basque shepherds in the American West carved into tree bark in the 19th and 20th centuries. NV Missing Thorn by Aaron Pott Sparkling Rosé Alcohol-Removed Wine ($24): Super pleasurable to sniff and sip! A new line of nonalcoholic wines created by veteran Napa winemaker Aaron Pott has debuted. The sparkling rosé boasts rose petal, citrus and brioche aromas that remind me of older vintages of Champagne. The taste is succulent and citrusy,...