Day: October 8, 2020

Pandemic Sidelined, UN Holds World Tourism Meeting In The Republic Of Georgia

Not today, coronavirus, says the Republic of Georgia.

Located on the Black Sea and nestled between the Caucasus Mountains, Georgia was the recent host of the United Nation’s first in-person, Covid-compliant World Tourism Organization (UNWTO) conference on September 15 through 17. As the United Nations closed its first ever virtual General Assembly two weeks ago, the selection of Georgia for an in-person event is interesting for two reasons. Let’s get the first one out of the way.

First, this was the UN’s first large scale meeting abroad. Georgia has done a good job of managing its public health matters so far, taking swift action and providing clear guidance and testing. Like many countries, however, this small country of 3.7 million is experiencing a small uptick in the number of cases. But Georgia seems to have the situation under control. The overall numbers for Georgia were around

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AI in Finance 2020: Applications & Benefits in Financial Services

  • Artificial intelligence (AI) is revolutionizing how consumers and companies alike access and manager their finances.
  • And with the aggregate potential cost savings for banks from AI applications estimated at $447 billion by 2023, banks are finding new ways to incorporate the tech into their services. 

Artificial intelligence (AI) in finance encompasses everything from chatbot assistants to fraud detection and task automation. Most banks (80%) are highly aware of the potential benefits presented by AI, according to Insider Intelligence’s AI in Banking report. 

The decision for financial institutions (FIs) to adopt AI will be accelerated by technological advancement, increased user acceptance, and shifting regulatory frameworks. Banks using AI can vastly improve the customer experience by offering 24/7 access to their accounts and financial advice services. 

Applications of AI in Financial Services

With key business benefits and pressure from tech savvy consumers top of mind, AI is being implemented by FIs across

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Trean Group Completes Acquisition of South Carolina-Based 7710 Insurance Co.

The wholly-owned subsidiary of Trean Insurance Group, Benchmark Holding Co., Inc., has completed the acquisition of South Carolina-based 7710 Insurance Company, as well as its associated program manager and agency.

7710 Insurance Co. is a national workers’ compensation insurer for first responders.

According to Andy O’Brien, TIG’s president and CEO, 7710 will aid the company in executing its growth strategy as it focuses on the underserved workers’ comp market for the emergency services industry.

7710 Insurance Company joins TIG’s other affiliated insurance companies American Liberty Insurance Company and Benchmark Insurance Company – both A.M. Best ‘A VIII’-rated carriers offering specialty property and casualty products in 49 states and D.C.

Trean Insurance Group, Inc. provides products and services to the specialty insurance market. Trean underwrites specialty casualty insurance products both through its program partners and its own managing general agencies. Trean also provides its program partners with services including issuing carrier

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Should I invest or pay off my mortgage?

Advice offered by Marc Hebert, president of The Harbor Group Inc., a certified financial planner. If you have any questions about finance or if you’d like to suggest a future topic, email low interest rates, now is a good time to review whether you should pay your mortgage down or continue to make your regular payments. So is allocating money toward the mortgage or investing the funds in the market the better decision?Each of these choices has advantages and disadvantages associated with it. One big advantage of paying off your mortgage is emotional. It might feel good to own your own home outright. Each choice also has a financial impact. Often, the mortgage payment is the biggest monthly bill, so paying it off could greatly increase your cash flow. However, the starting point in making the best financial decision is evaluating the opportunity cost. This is the amount you … Read More

Is your SBI home, personal loan eligible for restructuring? How to check online

SBI’s retail customers upon logging in the portal will be asked to key in their account number. After completion of OTP validation and inputting a few necessary information, the customer will come to know their eligibility and receive a reference number. This reference number will be valid for 30 days and within which time customers can visit the branch to complete the required formalities.

C.S. Setty, Managing Director (Retail & Digital Banking), SBI expressed the hope that with the launch of this portal, the customers will find it operationally convenient to check their eligibility before they go to a branch.

Under this resolution framework framed by RBI, such borrowers are eligible whose loan accounts were classified as standard and not default for equal to or more than 30 days as on 1 March, 2020, and their incomes are impacted by Covid-19.

Retail customers will be offered a simple option to

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