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The end of this decade presents both challenges and opportunities for providers of asset management solutions.

Globally, Assets under Management (AUM) are predicted to have a 6% compound annual growth rate towards 2020. A large percentage of AUMs will remain controlled by North America and Europe. However, other parts of the world such as South America, Asia, and Africa will see significant growth considering that these markets are only starting to mature.

Over the next five years, technology will play a very big role in ensuring the growth of maturing markets. Technology will serve to connect these markets to more matured regions. This will require operations and asset management teams to embrace big changes in the next few years. To catch up with the global trend, asset management companies will have to expand the scope of their technology platforms. They will need to be more adept at navigating multiple technology systems and linking with offshore firms that offer asset management services across different regions.

New and smaller niche players can take advantage of new technology systems compared to their more establishedcounterparts who rely on old and possiblyoutdated systems. Both types of asset management companies will need to adapt to more efficient technology platforms that will enable them to achieve maximum growth and better execution capabilities.

Efficient technology platforms and infrastructure will provide solutions to increasing regulatory demands that require consistent and accurate reporting, and strong environment control. Companies will have to hone their technological capabilities in a way that matches their growth strategies and profitability.

An asset management company seeking to maximize growth through better technology platforms will either hold on to old infrastructures and depend on system updates (thereby losing opportunities for optimal capabilities) or build new partnerships with asset management solutions providers. The latter will mean handing over control of most middle office and back office operations, which will allow them to focus on more strategicfunctions.

Companies who choose the outsourcing route to receive support for evolving financial instruments, complex reporting requirements, and connectivity across multiple geographic regions will have to invest in asset management services providers who are in it for the long haul. Outsourcing partnerships will have to be stronger, consistent, and long-term if optimal growth is to be achieved.

Conifer is a leading global asset management services firm, which boasts of industry knowledge, product expertise and innovative technology resources. Its technology and office solutions, and commitment to strong, long-term partnerships, allow asset management firms to focus on attracting clients, generating superior returns, and running a profitable business.

Citizens Property Insurance Corporations in Florida was founded for at least two good reasons, hurricane and insurance business. Due to the geographical location of the state where hurricanes or windstorms are common, insurance companies are forced to greatly raise premium fee. More than that, it gets more difficult for home owners to have their properties insured properly. Inspections about everything are more thorough before approval, and many times the applications for property insurance are denied simply because it is too risky. To overcome the problem, the state’s government founded Citizens Property Insurance Corporations where people can get easy approval.

Before state-owned insurance was founded, many private insurance companies had gone through near-bankruptcy situations. They had to stay competitive in the market, yet the claims for hurricane coverage were beyond financially accountable. They had to abandon the business to prevent further loss. On the other hand, the market should not completely disappear, so Citizens Property Insurance Corporation came to keep insurance market in balance. In 2009, a regulation came out allowing private insurance companies to raise premium 10% a year in Florida. In order to keep the market existing, Citizens Insurance is state-mandated to ask even higher premium fee, yet this is a non-profit organizations.

Louisiana

More or less the same thing occurs in Louisiana, although the main reasons are different. While Florida has hurricanes as their biggest problems, Louisiana is not actually prone to natural disasters. Instead of geographical locations, the state’s biggest issue is the demographical conditions. Louisiana is the place where many new lawyers are practicing their skills. Private insurance companies have to deal with lengthy processes and judicial procedures for many claims; in some cases, insurance companies have to pay for the cost.

To stay profitable, private insurance companies have to raise premium and the application process for insurance is more difficult as well. Louisiana Citizens Property Insurance Corporations is also a not-for-profit organization to get the market going in balance.