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Overcoming Speed Bumps on the Road to Telematics: Challenges and opportunities facing auto insurers

July 11, 2014 Comments off

Overcoming Speed Bumps on the Road to Telematics: Challenges and opportunities facing auto insurers
Source: Deloitte

Early adopters of telematics are collecting data that can reveal a driver’s behavior, which in turn can provide a basis for greater precision in insurance underwriting, pricing and claims. Having such first-hand driving data at their disposal could give existing usage-based insurance (UBI) carriers a considerable leg up over those not using telematics. Of course, early adopters still face many challenges in executing a viable telematics program.

In order to get a better idea of consumers’ reactions to UBI, Deloitte surveyed more than 2,000 respondents about their experiences with consumer mobile technology. We have placed the respondents in three categories — Eager Beavers, Fence Sitters and Naysayers — based on their willingness to have their driving monitored by insurers.

This report provides data and analysis that may help guide carriers that have already started on the road to telematics, along with those poised to join in, as well as others that will have to compete with telematics-driven players.

See also: Telematics: How Big Data Is Transforming the Auto Insurance Industry (SAS; PDF)

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3D opportunity: Additive manufacturing paths to performance, innovation, and growth

July 7, 2014 Comments off

3D opportunity: Additive manufacturing paths to performance, innovation, and growth
Source: Deloitte

Additive manufacturing technology can break existing performance trade-offs by reducing the capital needed to achieve scale and scope economies. Understanding how this can be done requires a review of how scale and scope economies shape certain product manufacturing and distribution decisions.

Additive manufacturing (AM) has exploded into public consciousness over the past several years. More popularly known as “3D printing,” AM is an umbrella term for a group of technologies that creates physical products through the addition of materials (typically layer by layer) rather than by subtraction (e.g., through machining or other types of processing).

Energy markets are reshaping the global geopolitical landscape and increasing interdependencies among nations, according to Deloitte report

July 2, 2014 Comments off

Energy markets are reshaping the global geopolitical landscape and increasing interdependencies among nations, according to Deloitte report
Source: Deloitte

The ripple effects of the North American energy boom from major importer to soon-to-be exporter are being felt across the Middle East, Russia, and China. This trend will result in new sources of supply, increase competition, reshape the global geopolitical landscape, and create greater interdependencies among nations, according to the Deloitte Touche Tohmatsu Limited (DTTL) 2014 Oil and Gas Reality Check report.

The report focuses on expansion and contraction on a number of fronts: the waxing and waning of dominance among suppliers; the progression into globalization from regionalization in energy markets; the growing shares of some fuels and the declining roles of others in the global energy mix; and, the opening and closing of borders in response to geopolitical concerns.

Global Defense Outlook 2014: Adapt, collaborate, and invest

July 1, 2014 Comments off

Global Defense Outlook 2014: Adapt, collaborate, and invest
Source: Deloitte

Instability in Ukraine, Japan’s efforts to revitalize its defense, China’s continued military buildup, and US debates over post-war defense spending and force posture – these events highlight fundamental shifts in long-term global defense policies. What is driving these shifts, and how are nations responding? The evolving global economy, combined with changed security threats facing the largest defense spenders, is driving revisions in defense planning and spending.

The Global Defense Outlook 2014 provides insights from the analysis of publicly-available information and interviews with officials in government and industry by Deloitte’s global network of defense-oriented professionals. The report examines current policies, practices, and trends affecting the defense ministries of 50 nations whose total publicly-acknowledged spending on national defense accounts for more than 92% of global defense outlays.

EU — Annual Review of Football Finance 2014 – A premium blend

June 23, 2014 Comments off

Annual Review of Football Finance 2014 – A premium blend
Source: Deloitte

The Deloitte Sports Business Group is proud to launch the 23rd edition of the Annual Review of Football Finance. Our Annual Review includes analysis of the business drivers and financial trends for clubs in some of the top divisions in European football and in the top four divisions of English football, with a particular focus on Premier League and Championship clubs.

As risks rise, boards respond A global view of risk committees

June 20, 2014 Comments off

As risks rise, boards respond A global view of risk committees
Source: Deloitte

Boards of directors have been working hard to fulfill their risk oversight responsibilities in a challenging environment. Regulations are changing rapidly in most industries, and vary significantly across countries. Investors, analysts, and the public are demanding greater transparency into risk and risk management, as are creditors, counterparties, and other stakeholders. Many boards legitimately wonder not only what regulators want, but also which approaches to risk oversight actually work.

Deloitte set out to study a specific and very effective risk governance mechanism: board-level risk committees. This report reveals the prevalence of board-level risk committees (whether standalone committees focused solely on risk, or hybrid committees such as audit/risk) based on analysis of 400 large public companies in eight countries.

In Focus: Compliance Trends Survey 2014

June 17, 2014 Comments off

In Focus: Compliance Trends Survey 2014
Source: Deloitte

As the full force of landmark laws such as the Dodd-Frank Act and the Affordable Care Act come to bear, the need for a strong corporate compliance function — and an understanding of what that strong function should look like — has emerged like never before. The Compliance Trends 2014 report shows that Corporate America increasingly acknowledges this idea, but in many cases companies still aren’t investing enough to support a strong compliance function in practice.

Within the report, we have combined the deep knowledge and experience of Deloitte with the broad industry perspective of Compliance Week to answer three questions:

  • Do compliance executives have the appropriate authority and resources to do their jobs?
  • Are compliance executives addressing the right risks?
  • Do compliance executives use the right metrics to measure progress?

The Four Dimensions of Effective mHealth: People, Places, Payment and Purpose

June 11, 2014 Comments off

The Four Dimensions of Effective mHealth: People, Places, Payment and Purpose
Source: Deloitte

The promise of mobile health (mHealth), the use of mobile devices to support the practice of medicine and public health, is profound but, as yet, unrealized. mHealth strategies, however, are not “one-size-fits-all.” By leveraging the power and reach of mobile communications, mHealth makes it possible to provide a more versatile and personalized approach to health care. However, in order for mHealth to reach its full potential, four critical dimensions must align: people, places, payment and purpose.

As risks rise, boards respond; A global view of risk committees

June 4, 2014 Comments off

As risks rise, boards respond; A global view of risk committees
Source: Deloitte

Boards of directors have been working hard to fulfill their risk oversight responsibilities in a challenging environment. Regulations are changing rapidly in most industries, and vary significantly across countries. Investors, analysts, and the public are demanding greater transparency into risk and risk management, as are creditors, counterparties, and other stakeholders. Many boards legitimately wonder not only what regulators want, but also which approaches to risk oversight actually work.

Deloitte set out to study a specific and very effective risk governance mechanism: board-level risk committees. This report reveals the prevalence of board-level risk committees (whether standalone committees focused solely on risk, or hybrid committees such as audit/risk) based on analysis of 400 large public companies in eight countries.

Here’s what we found:

  • Board-level risk committees are well-established and widespread — present in 38% of the 400 companies analyzed. About a quarter (22%) have standalone board-level risk committees, while 16% oversee risk through hybrid board-level committees.
  • As might be expected, board-level risk committees are most prevalent in FSI companies (88%), but are also present in other industries (26%), often to a significant extent, depending on the country.
  • Local regulations affect risk oversight structures. Australia, Brazil, Mexico, Singapore, the UK, and the US have regulations that require risk committees at the board level for FSI companies (sometimes dependent on the type and size of the company).
  • Overall, 62% of all companies analyzed do not have a board-level risk committee. This largely reflects the lack of regulatory requirements for board-level risk committees in non-FSI companies in most countries.

Deloitte Survey Signals M&A Gaining Momentum Through 2016

June 2, 2014 Comments off

Deloitte Survey Signals M&A Gaining Momentum Through 2016
Source: Deloitte

According to the findings of the inaugural Deloitte M&A Trends report 2014: A comprehensive look at the M&A market, the vast majority of the 2,500 U.S. companies and private equity firms polled anticipate a sustained or accelerated pace of mergers and acquisitions (M&A) over the next two years.

Building from the modest rebound of M&A activity in 2013 and the solid rise of deals in the first quarter of 2014, 84 percent of corporate executives surveyed expect a sustained or increased pace of M&A activity in the next 24 months. Forty percent of the total corporate executive respondents forecast a pick-up in deal flow. In line with this forecast, the vast majority (89 percent) of private equity leaders surveyed are expecting average to high deal activity going forward.

Global Powers of Luxury Goods 2014: In the hands of the consumer

May 30, 2014 Comments off

Global Powers of Luxury Goods 2014: In the hands of the consumer
Source: Deloitte

Deloitte Touche Tohmatsu Limited (DTTL) is pleased to present the 1st annual Global Powers of Luxury Goods. This report identifies the 75 largest luxury goods companies around the world, and examines the trends shaping the sector. It also looks at M&A deals and provides a global economic outlook.

Focusing on four broad categories of luxury goods (designer apparel, handbags and accessories, fine jewelry and watches, and cosmetics and fragrances), this report identifies the 75 largest luxury goods companies around the world, and examines the trends shaping the sector.

It also provides an outlook for the global economy, an analysis of market capitalization in the industry, an overview of M&A activity in the luxury goods sector, and a discussion of major trends affecting luxury goods companies – in particular the impact of the digitally empowered consumer.

Managing Corruption Risks in India

May 29, 2014 Comments off

Managing Corruption Risks in India
Source: Deloitte

In the past few years, India has emerged as one of the most promising destinations for investments. Its democratic government and large economy in terms of purchase power parity, highly skilled workforce, growing domestic market and sizeable English-speaking population, has resulted in an increasing number of global investors. According to a recent survey conducted by United Nations Conference on Trade and Development (UNCTAD), India has been ranked as the third most attractive destination for investments by transnational companies. In addition, the United States is one of India’s largest investment and trade partners and both countries are currently negotiating a bilateral investment treaty as part of their effort to strengthen their mutual economic ties and enhance investor confidence.

While India presents increasing investment opportunities, foreign companies in India face some unique challenges. This article focuses mainly on the corruption landscape in India, several associated risks and the need for implementing an effective anti-corruption compliance program in India.

Infographic — A tall order to fill: Enrolling young adults in health insurance

May 27, 2014 Comments off

A tall order to fill: Enrolling young adults in health insurance (PDF)
Source: Deloitte

Enrollment of the young adult population (19-34 year olds) is critical to the success of health insurance exchanges. As the first open enrollment period drew to a close, Deloitte surveyed young adults – both those who did and did not enroll in coverage – for their views about health insurance.

See also: My Take: Young and looking for more: Is the health care industry hitting the mark with young adults?

Global Economic Outlook Q2 2014

May 20, 2014 Comments off

Global Economic Outlook Q2 2014
Source: Deloitte

The second quarter edition of the Global Economic Outlook offers timely insights from Deloitte Research economists about the Eurozone, China, the United States, Japan, India, Russia, Brazil, and the United Kingdom. In addition, this issue’s special topic considers the revival in international trade and the resurgence of bilateralism.

Mid-Market Perspectives: 2014 report on America’s economic engine

May 19, 2014 Comments off

Mid-Market Perspectives: 2014 report on America’s economic engine
Source: Deloitte

Since 2011, Deloitte Growth Enterprise Services has surveyed mid-market executives about their expectations, priorities and plans. During that time, the results have helped track a slow but steady evolution from cautious optimism to recognition of the need to move ahead.

As the results of our 2014 survey indicate, the mid-market — America’s economic engine — continues to pick up steam:

  • Only 23% of mid-market executives say their companies are deferring investments due to uncertainty — down from 43% a year ago.
  • More respondents (50%) believe the economy will continue to grow at least two percent over the coming year.
  • Forty-three percent of respondents say they plan to increase full-time headcount in the next 12 months.
  • Top-ranked investment priorities cited by respondents include development of new products and services, hiring and training, and technology (either upgrading existing IT systems or implementing new ones).

VAT Refund Guide 2014

May 16, 2014 Comments off

VAT Refund Guide 2014
Source: Deloitte

Businesses that operate in countries where they are not established or VAT-registered often incur significant amounts of VAT on costs they pay in those countries. Some of the most common expenses on which businesses incur VAT include travel costs, local purchases of goods and services and import VAT on the movement of goods across borders.

International businesses may incur many thousands or even millions each year in VAT on these types of expenses. In principle, they are able to recover some or all of the VAT incurred-and thereby help manage their overall costs of doing business.

Deloitte’s VAT refund guide provides insight on the recovery rules and how to go about the required procedures in over 30 countries. Deloitte’s indirect tax professionals can also introduce you to proven tools and methodologies to facilitate claims.

Bersin by Deloitte Research Shows US Leadership Development Spending Up Again; 14 Percent to More Than $15 Billion in 2013

May 16, 2014 Comments off

Bersin by Deloitte Research Shows US Leadership Development Spending Up Again; 14 Percent to More Than $15 Billion in 2013
Source: Deloitte

Bersin by Deloitte, a leading research and advisory firm empowering Human Resource (HR) organizations to drive bottom-line impact, today announced new research that shows U.S. organizations boosted leadership development spending 14 percent on average for the second consecutive year to an estimated $15.5 billion in 2013. The findings appear in Bersin by Deloitte’s new Leadership Development Factbook 2014: Benchmarks and Trends in U.S. Leadership Development, available to WhatWorks® members and for sale to non-members.

Summarized in a complimentary WhatWorks market brief, the research provides key benchmarks and guidance to help leadership development teams make valuable investment decisions. The new research shows that the biggest increase in investment came from small businesses, which on average spent 23 percent more on leadership development initiatives in 2013. Large and midsize organizations reported more modest gains during the year, at four percent and five percent respectively.

Risk, uncertainty and opportunity in a changing tax landscape — 2014 Asia Pacific Tax Complexity Survey

May 8, 2014 Comments off

Risk, uncertainty and opportunity in a changing tax landscape — 2014 Asia Pacific Tax Complexity Survey
Source: Deloitte

How are tax policies affecting your business in Asia Pacific? In this year’s Asia Pacific Tax Complexity Survey Report, over 800 business told Deloitte how they feel about the tax regimes in 20 jurisdictions across the Asia Pacific region. This survey serves as a useful overview that we hope will help executives make more informed business decisions and enhance tax management practices in Asia Pacific.

America’s Household Brands Losing Ground

May 6, 2014 Comments off

America’s Household Brands Losing Ground
Source: Deloitte

U.S. consumers are pushing their shopping carts past many of America’s national brands and feel little regret in doing so, according to Deloitte’s American Pantry Study of more than 375 brands across 30 product categories.

Seven in 10 shoppers (71 percent) say they’re spending less on food, beverage and household goods, but don’t feel like they’re sacrificing much. In fact, only 31 percent of brands are considered a “must have” — one that shoppers would buy whether on sale or not — consistent with the last four years that Deloitte has conducted the survey.

“National brands are pressured on all sides, from persistent consumer frugality and low brand loyalty to rival and store brand competition,” said Pat Conroy, vice chairman, Deloitte LLP and U.S. Consumer Products leader. “While consumers initially resented buying less-expensive products out of necessity a few years ago, they have changed their tune. They have shifted from a feeling of settling for lower-priced brands to settling in to store brands distinguished by high quality.”

The connected consumer evolves — Global Powers of Consumer Products 2014

May 5, 2014 Comments off

The connected consumer evolves — Global Powers of Consumer Products 2014
Source: Deloitte

Deloitte Touche Tohmatsu Limited (DTTL) is pleased to present the 7th annual Global Powers of Consumer Products. This report identifies the 250 largest consumer products companies around the world based on publicly available data. The report also provides an outlook for the global economy, an analysis of market capitalization in the industry, a look at M&A activity in the consumer products sector, and a discussion of major trends affecting consumer products companies.

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