Standish releases bundled solution for the insurance industry
Standish Mellon Asset Management Company, the fixed income investment arm of BNY Mellon, has launched a new collection of solutions for insurance companies operating in the U.S. The collection includes asset management, global custody, accounting, and reporting solutions. Much of the insurance industry has been undergoing a shift to become more reliant on technology. As risks in various markets begin to evolve, technology is becoming a powerful tool in mitigating these risks and the exposure that the insurance industry faces.
New solution aims to help insurance companies better manage their assets and risks
The new insurance technology solution being offered by Standish Mellon Asset Management Company partially makes use of the services provided by BNY Mellon. The collection will allow BNY Mellon to provide its investment management and other services to insurance companies, which are expected to be well received because of the company’s successful history in the investments field. Much of the insurance industry relies on investments and the appropriate management of investment portfolios. Without comprehensive management solutions, insurers could be exposing themselves to unnecessary financial risks.
Demand for new technology solutions is on the rise among insurance companies
A growing number of insurance companies are beginning to call for bundled technology solutions in order to better meet the challenges they are discovering in their ever evolving field. Some insurers are expressing eagerness to partner with providers of these solutions, while others are more willing to acquire white-label products. The demand for such products is expected to continue growing as insurance companies continue to seek out comprehensive ways to better manage their assets and reduce their exposure to risks.
Insurers seek to connect with consumers through technology
Technology is becoming a powerful tool for the insurance industry as a whole. As insurers begin to rely more on technology, the industry is beginning to change, especially in the ways that insurers are connecting with consumers. Asset management solutions are not the only things that insurance companies are beginning to show interest in and many insurers are turning to technology in order to engage with consumers more effectively.