Fintary

As we celebrate the 4th of July, let's remember the values of freedom, innovation, and resilience. At Fintary, we're proud to embody these principles by empowering our customers with the capabilities that they need to have a peace of mind and reach their business goals. Wishing everyone a joyful celebration! #IndependenceDay #FourthOfJuly #FinancialFreedom #Fintary #fintech #ai #finance #insurance 

Delivering tremendous business results to forward thinking companies such as Forthright Capital Partners is why we do what we do. Charles Nguyen and his team lead a fast growing organization and need an efficient financial operations platform that can handle complex commission structures, carrier receivables, business reporting, all in one place. 34% increase in gross profit margin 🚀 Onboarding within 3 weeks 🙌 Tripled book value 📈 Best in class financial operations can be the secret weapon for elevating your business to the next level. Thanks Charles Nguyen Jake Amores Bliss Rivera Edmund Leung for your support and feedback! #insurance #fintech #growth #finops

For many, Memorial Day signifies the joy of family gatherings and the onset of summer 🇺🇸. However, for some in the Fintary community, it carries profound significance. It's a time to reflect on the memories of loved ones, friends, and fellow service members who have made immense sacrifices to secure peace and prosperity for future generations. As Isaac Newton eloquently put it, "If I have seen further, it is by standing on the shoulders of giants." Today, let’s take a moment to honor and remember those giants in our lives .

Our mission at Fintary is to empower businesses to grow by providing them with the best financial operations infrastructure and unparalleled insights. It's an inspiration to partner with customers who are working hard to grow their businesses and succeed in their markets. Here are the top 10X growth strategies that we've learned from insurance business professionals in our community 💡 #growth #insurance #fintech

A wrap to 3 days of meaningful conversations, encounters with friends old and new, and endless industry knowledge drop with the incredible Advantage Insurance Network community. Until next time!

5 of the Top Trends in Life and Health Insurance 🧑💻Integration of Advanced Predictive Analytics in Life Insurance: Predictive analytics is transforming life insurance, enabling insurers to offer more personalized policies and better risk management. The global predictive analytics market is expected to reach $12.95 billion by 2025, indicating its growing importance in not just insurance but across various sectors. In life insurance, this can lead to a reduction in underwriting time from weeks to minutes, significantly enhancing customer satisfaction. ❤️🩹Enhanced Focus on Mental Health Benefits: The expansion of mental health coverage is a response to a growing demand. Approximately 76% of U.S. companies now offer some form of mental health benefits, up from 69% in 2018. This trend reflects an increasing recognition of mental health’s role in overall well-being, with insurers and employers expanding services to include digital platforms, offering access to therapy and counseling sessions remotely. 📱Rise of Telemedicine and Digital Health Services: Telemedicine has seen a dramatic rise in utilization, with the global telemedicine market expected to reach $175.5 billion by 2026. During the COVID-19 pandemic, telehealth visits surged by over 50% in the first quarter of 2020 compared to the same period in 2019. Insurers are increasingly incorporating telemedicine into their health plans, recognizing its potential to improve access to care while reducing costs. 🏥Shift Towards Value-Based Care in Health Insurance: Moving from fee-for-service to value-based care is a significant shift in the health insurance industry. This model focuses on rewarding providers for the quality of care delivered rather than the quantity. Studies have shown that value-based care programs can reduce healthcare spending by 5.6% on average, improving patient outcomes and potentially lowering premiums for consumers. 📶Adoption of Wearable Health Technologies by Insurers: The global market for wearable health devices is booming, expected to exceed $27 billion by 2025. Insurers are tapping into this trend by offering incentives for policyholders who use wearable devices to track their health and fitness. For example, one large life insurer offers a program where policyholders can earn points for healthy behaviors tracked by wearables, leading to premium discounts of up to 15%.

Modernizing Commissions: A Game-Changer for Insurance Brokerages {5 minute read} Adapting to Changing Agent Demands: The insurance industry is witnessing a seismic shift in the expectations and demands of agents. According to a recent survey by Insurance Journal, 76% of insurance agents believe that commission structures significantly impact their decision to work with a brokerage. Today's agents seek more transparency, flexibility, and value from their brokerage partners. Modernizing commission structures allows brokerages to align their incentives with the evolving needs of their agents. By offering innovative commission models that prioritize agent satisfaction and long-term relationships, brokerages can position themselves as preferred partners in an increasingly competitive market. Driving Operational Efficiency: Traditional commission structures can be cumbersome and time-consuming to manage, often involving manual calculations, complex spreadsheets, and administrative overhead. According to a study by Deloitte, 67% of insurance brokerages cite administrative tasks, such as commission management, as a significant barrier to operational efficiency. Modernizing commissions with automated systems and digital tools streamlines the process, allowing brokerages to allocate resources more efficiently and focus on core business activities. In fact, research by McKinsey & Company indicates that companies that embrace digital transformation in commission management can achieve up to a 30% reduction in administrative costs. By leveraging technology to simplify commission management, brokerages can improve operational efficiency, reduce costs, and enhance overall profitability. Enhancing Sales Performance: Traditional commission structures often rely on volume-based incentives, which can lead to short-term thinking and transactional sales practices. According to a study by Harvard Business Review, 76% of customers expect companies to understand their needs and expectations. In contrast, modern commission models focus on rewarding brokers for delivering value and driving positive outcomes for clients. Research by Bain & Company indicates that companies with superior customer experience grow revenue 4-8% above their market. By incentivizing quality over quantity, brokerages can foster a culture of excellence and empower their sales teams to prioritize customer service and relationship-building. Building Stronger Partnerships: In today's interconnected business ecosystem, brokerages collaborate with multiple partners, including carriers, vendors, and other stakeholders. Research by Deloitte reveals that 85% of executives believe partnerships are essential for driving innovation and growth. Modernizing commission plays a pivotal role in cultivating robust partnerships. According to Accenture, 78% of executives agree transparent compensation arrangements are critical for building trust with partners.

Leap Year corrects the calendar by adding a day every four years. A surprising twist: we skip this addition every 100 years unless the year is divisible by 400. Leap year sounds complicated...the good news, financial operations no longer have to be!

Fintary offers AI powered financial operations built for insurance. https://lnkd.in/ei9NqZf5

2023 review from our team. We are excited to see many of you in the new year! #cfoinsights #finance #accounting #insurance #operations #innovation