Archive for the ‘companies (private sector)’ Category

Improved Interactions Drive Gen Y Increase in Auto Insurance Satisfaction

July 17, 2015 Comments off

Improved Interactions Drive Gen Y Increase in Auto Insurance Satisfaction
Source: J.D. Power

Gen Y[1] customers are the driving force behind an increase in overall auto insurance satisfaction due to improvement across all customer service interaction channels, the largest contributor to the customer experience, according to the J.D. Power 2015 U.S. Auto Insurance StudySM released today.

The study examines customer satisfaction in five factors: interaction; price; policy offerings; billing and payment; and claims. Satisfaction is measured on a 1,000-point scale.

Customer interaction preferences are changing. Gen Y’s preference to interact exclusively through digital self-service (Web or mobile) has increased to 27 percent in 2015 from 21 percent in 2011. A similar pattern of preference is found in other generational groups (Gen X: 23% vs. 19% in 2011; Boomers: 12% vs. 10%; and Pre-Boomers: 6% vs. 4%). Among the interaction channels, satisfaction with the website experience receives the lowest average score, most notably among Gen Y customers (816, compared with 826 for Gen X, 841 for Boomers and 861 for Pre-Boomers).

Health care fraud and abuse enforcement: Relationship scrutiny

July 17, 2015 Comments off

Health care fraud and abuse enforcement: Relationship scrutiny
Source: Deloitte

Where is fraud and abuse enforcement headed in health care? One emerging area of interest is relationship scrutiny. Relationships can be complex in the business of health care: tracking and analyzing them is an important part of minimizing the fraud and abuse that may result from questionable relationships and improper influence.

Many organizations depend on analytics to understand their own performance. Insights and patterns within the data are often used to inform strategy and decision making. Researchers can apply analytics to identify external trends and factors that may impact businesses. To that end, Deloitte researchers used analytics techniques to examine the text of tens of thousands of federal regulations and identify emerging trends in health care fraud and abuse enforcement. The results are telling: Federal health care regulators are emphasizing relationship scrutiny in their fraud and abuse enforcement efforts. Also, discussion of health care fraud and abuse topics – including relationship scrutiny – is recurring, as evidenced by the cyclical rise and fall in frequency and relevance of keyword groups related to “enforcement,” “value-based care,” and “fraud and abuse.” The bottom line: discussion of these topics is present; relationship scrutiny is likely here to stay.

Climate change: new investment risk demands action by investors, cautions new research

July 14, 2015 Comments off

Climate change: new investment risk demands action by investors, cautions new research
Source: Mercer

A new report from Mercer modelling the potential impact of climate change on investments, has found investors cannot ignore the implications for investment returns. The research reveals investors can manage the risk most effectively by looking ‘under the hood’ of their portfolios and factoring climate change into their risk modelling, which requires a significant behavioral shift for most.

The report, titled “Investing in a time of climate change” outlines actions for investors to manage key downside risks and access opportunities.

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The Evolution of US Industry

July 13, 2015 Comments off

The Evolution of US Industry
Source: IBISWorld

The economy’s shift over the past two decades is familiar to most Americans. Much of the country’s manufacturing sector has experienced a seemingly irreversible decline, while the service sectors of finance, real estate and healthcare have accounted for a greater share of economic activity. A multitude of factors, both internal and external, have motivated the changing fabric of the US economy across the decades, as illustrated by the chart below. This article focuses on the relative importance of our major industries through the NAICS divisions that house the 700 individual industries on which IBISWorld gathers information. We do this using two different measures: value added (i.e. wealth created by labor, depreciation and profit) and employment. These measures are both calculated based on their forecast positions as of May 2015.

Rethinking Overtime

July 10, 2015 Comments off

Rethinking Overtime
Source: Oxford Economics

Today, some 3.3 million salaried workers across the US retail and restaurant industries can be exempted from the right to receive overtime pay because they earn at least $455 per week—the so-called overtime threshold. The Department of Labor is currently preparing a proposal that would change the rules that govern overtime payment.

To better understand the effects of these changes, Oxford Economics conducted an analysis using three possible modifications of the overtime regulation—raising the wage threshold to $610, $808, and $965 per week. This report explores the effects on the retail and restaurant industries under these three scenarios.

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The Expanding Lap of Luxury Among U.S. Consumers

July 10, 2015 Comments off

The Expanding Lap of Luxury Among U.S. Consumers
Source: Nielsen

In the U.S. retail market, the word luxury doesn’t have the same connotation that it once did. Or perhaps it’s just that the consumers who shop for luxury goods aren’t who they used to be. Either way you look at it, defining luxury today is no easy task—and neither is identifying how people view the term.

For many consumers, luxury is a way to signal that they’ve “made it,” but the ways they choose to showcase or express their status can be as varied as the consumers themselves. For example, some convey it subtly through the scarcity and heritage of the products they purchase. Others take a more forthright approach by purchasing eye-catching products they want to showcase for everyone to admire and covet.

Regardless of how consumers choose to bring luxury into their lives, the U.S. has the deepest pockets when it comes to luxury retail spending. In fact, management consulting firm Bain and Co. estimates that Americans spent $73.3 billion on luxury goods last year—more than consumers in Japan, Italy, France and China combined.

Financial Experience & Behaviors Among Women

July 8, 2015 Comments off

Financial Experience & Behaviors Among Women (PDF)
Source: Prudential
From press release:

Five years into the financial recovery, Prudential’s 2014-2015 Research Study, “Financial Experience & Behaviors Among Women,” reveals that while women are taking control of household finances, they are no more prepared to meet long-term financial goals than they were a decade ago.

This year’s findings suggest that women are less concerned about their financial security than they were after the 2008 financial crisis, but need to take more action in achieving their long-term financial goals.

The study also focuses on generational differences in financial behavior among women and the experiences of Asian American, African American and Hispanic women. It also provides a regional snapshot that highlights key financial differences among women by their geographic location.