The 'Unknown Unknowns' of Insurance

"We don't know what we don't know" is an adage that holds true across industries, and insurance is no exception. Join Neil Blount, Insurance Growth and Transformation Executive, and Dr. Carlos Leung, Principal Data Analytics Designer at Equifax Insurance Solutions as they discuss

• Some of the common blind spots in the insurance industry
• Potential market gaps in the insurance segment when it comes to use of data
• Improving both the customer journey and insurers’ risk management
• Learnings from global markets to optimise data use in the Australian Insurance Industry
• And more!

This video was recorded in January 2023

Are Insurers Optimising the Use of Data?

We're living in a new industrial revolution for Data Management and Open Data, but what does this mean for insurers and how can the power of data be harnessed for the good of the industry?

In this episode, Equifax Insurance Solutions experts Neil Blount (Insurance Growth and Transformation Executive) and Dr. Carlos Leung (Principal Data Analytics Designer) discuss

• How all classes of insurers can get a better understanding of what is happening in the broader insurance industry
• The potential challenges of data gained from "Self disclosure" for Insurers
• The value data verification can have for various insurance products
• What data points and processes will serve insurers best
• And more!

This video was recorded in January 2023

Why is it important to have access to the right data in the underwriting process?

The construction industry is a critical segment of our economy, and insurers provide critical risk protection services to a wide range of stakeholders in support of a resilient country.

At the national annual conference of the Australian Institute of Credit Managers last October, Corey Nugent, CEO of Resilience Insurance, spoke on the importance of insurance in this segment, and the impacts across professional indemnity, property insurance, and the new newly introduced decennial liability insurance (DLI).

Watch this video in which Corey outlines how insurance premiums reflect the cost of risk, and the importance of having access to the right data in the underwriting process. Corey explains that when it comes to evaluating risk that:

Understanding the underlying fundamental drivers impacting credit risk

Equifax Australia has been a strong advocate around building improved transparency to support trustworthy outcomes, using data-led insights that help protect people from financial harm.

At the national annual conference of the Australian Institute of Credit Managers last October, our Head of Product and Rating Services, Brad Walters, spoke on the topic of how data is evidencing bad actors, phoenix operators, conflicted inspectors, delivery model contagion, and repeated patterns of non-compliant behaviours.

Watch this to learn more around how the independent construction industry ratings tool (iCIRT) uses key attributes to support the industry, as well as funders, insurers, regulators, and most importantly, consumers and the community, as we all work together to restore confidence in construction.

Tax Debt Insights for a Proactive Approach to Credit Management

The ATO debt increased 13% between 2021 and 2022, reaching $61.6bn. Are credit professionals having to adapt their lending processes to ensure their risk exposure is being managed effectively?

Join Equifax host Scott Mason, ATO Assistant Commissioner Claire O'Neill and AICM CEO Nick Pilavidis for a discussion about commercial tax default data and a deep dive into what credit professionals can learn from the past six months of collection activity, including:

• the impact of tax debt disclosure on the credit environment
• how tax debt levels are evolving post-Covid
• myths uncovered about debt recovery and wind-up activity
• insights for reduced risk exposure

Reducing risk and improving data protection in the employment income verification process

Employee payroll information is an attractive target for threat actors. Imaad Mohammad, Head of Product Management at Equifax Workforce Solutions, and Sarah Moorehouse, Head of Employer Services at Equifax Workforce Solutions delve into how automated employment income verifications can help employers, employees and financial institutions alike.

Join Sarah and Imaad as they discuss:

• Why employers should move away from printing or downloading payslips
• The key questions employers must ask themselves while conducting employment income verifications
• The purpose and key benefits of Equifax Verification Exchange

And more!

This video was recorded and filmed in September 2022.

Equifax Verification Exchange: A triple ABA100 award winning solution for protecting employee personal data

It presents a significant opportunity to finance leaders in keeping up with and modernising their potentially unsafe and outdated employment income verification practices by embracing technology to help move organisations down the path of automation, efficiency and enhanced data security. Join Paul Worsnip, Senior Financial Officer at Equifax and Sarah Moorhouse, Senior Business Development Manager at Equifax, as they discuss:

• Why should organisations be looking at alternate ways to manage employment income verifications?
• Does Equifax Verification Exchange meet the current and future data privacy needs in Australia?
• Why should financial leaders be excited about the Equifax Verification Exchange?

Online Retail Fraud: Threats, Opportunities & Gamechangers

Fraud is a top challenge for online retailers as they look to reduce customer friction while also managing risk. Join Rich Stuppy, Chief Customer Experience Officer at Kount, and Tehani Legeay, General Manager of Fraud & ID at Equifax, as they discuss:

• The top fraud threats currently facing online retailers
• The biggest things impacting online retailers' ability to fight fraud
• How retailers with fewer resources can keep themselves safe from fraud
• How global learnings can help retailers better understand and protect themselves against bad actors
• And more!

This video was recorded and filmed in August 2022.

How brokers are adapting to the changing mortgage market

The mortgage market in Australia is changing rapidly, and brokers are having to adapt at speed. Explore how brokers are keeping up with the pace of change, with James Forbes, Equifax General Manager of Consumer, and Peter White, Managing Director at Finance Brokers Association of Australia (FBAA).

Join James and Peter as they discuss:

• How rising interest rates and inflation are impacting the workload of brokers
• Why consumers are turning to brokers for help during turbulent economic times
• Purchasing and refinancing trends
• The evolving role of technology and how brokers are adopting technology in their practices
• And more!

This video was recorded and filmed in August 2022.

Exploring the evolution & future of Buy Now Pay Later (BNPL)

Explore the evolution and future of BNPL, with Mark Thomas, Equifax Head of Financial Services, and Alberto Fernandez, Head of Insights at Latitude Financial Services. Your questions answered on

• Why has BNPL exploded in the recent past?
• What trends and challenges might come up as the market matures more in the near future?
• What might be ways to open up the pathway to profitability in the channel?
• What role BNPL plays for merchants and how will it develop in the future
• How does financial literacy play in this segment and how do you lend responsibly?

This video was recorded and filmed in May 2022.