Moving Past the COVID Chaos: Tips for Your Insurance, Finances, and Business - August 6, 2020

August 06, 2020
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News. Insights. Analysis. Inspiration.

Today's Key Question:

Have you heard about "alternative capital" firms becoming interested in life insurance companies?

See the article below from Think Advisor for details.

  

"The State of Restaurant Technology: 3 Major Trends for the Post-COVID World"

From Restaurant Technology News:

* The past few months have seen the restaurant industry entirely upended and transformed. Technology that had been gathering steam for years, like customer ordering kiosks and shared tablets for waitstaff, is suddenly no longer viable. Other trends that were still emerging pre-COVID are now nearly ubiquitous. While not every development in restaurant technology can be directly tied to the coronavirus and all the associated health concerns, we are seeing a new environment emerge that has been irrevocably shaped by the virus—and that environment, I believe, is here for the long-term. 

With that in mind, here are three major technology trends that I see taking hold in the restaurant industry. 

  

"Microbusinesses could be the key to surviving the COVID-19 recession

Communities with lots of small, informal enterprises might be more resilient, according to a study from the web-hosting platform GoDaddy."

From Fast Company:

* Turning a side hustle into a full-time job isn’t unique to pandemics and recessions: Another customer, D.C.-areaFurlough Cheesecake, wasstarted by two sisters who were on furlough from their government jobs during the 2018 to 2019 federal shutdown. “They were known amongst their community for making great cheesecake,” says Hartman. “It turned into a small business.

Microbusinesses are often located outside of traditional tech hubs and major cities, with GoDaddy reporting hotspots across the West, portions of Florida and the mid-South. Women are more likely to rely on such microbusinesses for income, according to company research. And foreign-born people in the U.S. are disproportionately likely to create them, says Venture Forward director Alex Rosen.

 

"The coronavirus has shown people that big government can't solve all their problems"

From Washington Examiner:

* While government’s disastrous COVID-19 management decisions are tragic, the consequences offer voters an opportunity for learning and reflection. Politicians will never stop promising that they can solve our problems if only given more power, but the public may finally be starting to see the limitations and failures of big government.

  

"Alternative Capital Is Set to Double Down on the U.S. Life Insurance Sector"

From Think Advisor:

* Both Voya’s and Hartford’s blocks contain VAs with guaranteed living benefit. Such VAs are generally more complex, more difficult to hedge, and have more potential for capital and earnings volatility than its fixed annuity cousin. This very riskiness perhaps makes pricing more favorable for the alternative investors. We also believe the prospect for inorganic growth is much greater, since the industry definitely has plenty of such complex legacy blocks that they would be happy to divest. But, the question is, does the increased involvement of alternative capital help or hurt the credit quality of the U.S. life insurance sector?

 

Here's a short video from Steve on how you can purchase insurance in these changing times....Watch Here