Tag: market

Benefits Of White Labelling Your Business

Entrepreneurs are always looking for new and creative ways to remain ahead of the competition and increase their profits in the fast-paced world of business. One such strategy that has gained considerable traction in recent years is white labeling. This business practice has proven to be a game-changer for many, offering a myriad of advantages that can significantly impact the success and scalability of a venture. In this comprehensive exploration. We delve into the world of white labeling, unraveling its intricacies and shedding light on the diverse benefits it brings to the table.

Decoding White Labelling: A Tailored Approach to Success

Before we plunge into the benefits, let’s demystify the concept of white labeling. At its core, white labeling is a strategic business arrangement where a company sources products or services from a third-party provider and then rebrands them as its own. This allows businesses to offer a wide range of offerings without the need to invest heavily in research, development, or production. Picture this: you own a boutique digital agency and wish to expand your service portfolio to include e-commerce solutions. You can opt for a White label ecommerce solution instead of building an in-house team to develop a solution from scratch. This choice enables you to provide top-notch e-commerce services to your clients under your brand name without the burden of creating the entire product from the ground up.

The Pinnacle of Flexibility: Diverse Product Offerings

One of the standout benefits of white labeling is the unparalleled flexibility it affords businesses in terms of product offerings. In a rapidly evolving market where consumer preferences shift swiftly, the ability to adapt and diversify is paramount. White labeling empowers businesses to swiftly introduce new products or services to meet market demands without the exhaustive lead time associated with in-house development. This agility not only keeps businesses relevant but also positions them as industry leaders capable of responding promptly to emerging trends. Whether you’re a startup looking to expand your product line or an established brand aiming for a strategic pivot, the adaptability offered by white labeling can be the key to staying competitive.

Cost-Efficiency Unleashed: Reducing Development Costs

In the realm of business, cost-efficiency is a perpetual pursuit, and white labeling emerges as a compelling solution in this quest. Developing a new product or service in-house demands substantial financial resources. From hiring skilled professionals to investing in research and development, the costs can quickly spiral out of control. White labeling, on the other hand, allows businesses to leverage the expertise and infrastructure of established providers, significantly reducing the upfront costs associated with product development. This not only makes entrepreneurship more accessible but also provides established businesses with a potent avenue for expanding their offerings without breaking the bank.

Accelerated Time-to-Market: Seizing Opportunities Swiftly

In the fast-paced landscape of business, time is often of the essence. The ability to bring a product or service to market swiftly can make the difference between capitalizing on an emerging trend and being left in the dust. White labeling shines in this aspect, offering a shortcut to market entry that is both efficient and effective. By tapping into pre-existing solutions, businesses can bypass the lengthy development and testing phases, ensuring that they are well-positioned to seize opportunities as soon as they arise. For entrepreneurs with a keen eye on market trends and a desire to stay ahead, the accelerated time-to-market facilitated by white labeling is a formidable advantage.

Building Brand Authority: Focus on Core Competencies

Building brand authority is a strategic endeavor that requires a meticulous focus on core competencies. In the dynamic landscape of business, companies often find themselves juggling various aspects of product development, marketing, and customer engagement. White labeling, with its unique ability to streamline the product development process, allows businesses to concentrate on what they do best. By honing in on core competencies, companies can cultivate a distinct brand identity, positioning themselves as experts in their field. This focused approach not only enhances the efficiency of operations but also contributes to the creation of a brand that is synonymous with excellence. Whether it’s delivering exceptional customer service, pioneering innovation, or maintaining a commitment to quality, businesses that prioritize their core strengths through white labeling are better positioned to build and sustain brand authority in an increasingly competitive market.

Risk Mitigation: Navigating Uncertainties Safely

Embracing risk is inherent to entrepreneurship, but mitigating its potential impact is a judicious approach. White labeling plays a pivotal role in this risk management strategy by redistributing the burden of uncertainties. When a business opts for a white-label solution, it effectively shares the risk with a third-party provider, who assumes responsibility for crucial stages such as research, development, and initial testing. This not only lightens the financial load on the business but also provides a safety net, enabling ventures into new territories with reduced fear of failure. By leveraging the expertise of established providers, businesses can focus on refining their core competencies, fostering innovation, and ensuring a more secure journey through the ever-evolving landscape of commerce. In essence, risk mitigation through white labeling transforms uncertainties from potential stumbling blocks into stepping stones for sustained success.

Customer-Centric Approach: Meeting Customer Expectations

 

Meeting customer expectations has evolved beyond a transactional interaction; it’s about building lasting relationships grounded in trust and satisfaction. A customer-centric approach is the compass that guides businesses in understanding, anticipating, and fulfilling the diverse needs of their clientele. By adopting this ethos, companies not only tailor their products and services to align with customer preferences but also prioritize a seamless and delightful customer journey. This commitment extends beyond the point of sale, encompassing post-purchase support and engagement. In a world where consumers have myriad choices at their fingertips, businesses that prioritize a customer-centric approach position themselves as partners in the customer’s journey, earning loyalty and advocacy in return.

From the unparalleled flexibility it offers in product offerings to the cost-efficient and risk-mitigating nature of the approach, the benefits are both diverse and impactful. As businesses navigate the intricacies of a competitive market, the strategic adoption of white labeling can be the catalyst for growth, scalability, and sustained success. In a world where staying ahead is imperative, embracing the white-label advantage may just be the key to unlocking new heights of achievement.

The Impact Of Liquidity Trap On The Market

The economic well-being of a nation depends on factors like inflation, financial markets, investments from overseas businesses, and government spending. However, a liquidity trap occurs when these factors fail to stimulate the economy. During liquidity traps, interest rates drop, encouraging borrowing and spending, but people prefer to keep their money in cash and reduce spending. Speculators avoid investing in markets, and people suspend trading activity due to deficient market returns. As a result, traditional monetary policies become ineffective.

An economic recession is typically noticeable, but a liquidity trap differs from other economic shocks.

A liquidity trap occurs during economic crises when people withdraw money from banks and store it in cash, resulting in cash outflow and spending reduction.

Inflation can benefit developing countries, but a very low inflation rate can be dangerous, as it results in low national output and increased purchasing power, leading to a drying up of business capital.

Governments lower interest rates to boost the economy. Though the interest rate can potentially reach 0%, such a policy does not encourage people to avoid spending during the liquidity trap.

A liquidity trap accelerates a decline in economic indicators, leading to a rapid drop in such indices as gross national product, gross domestic product, employment rates, and cost of living.

The liquidity trap is a unique economic phenomenon characterised by the inability of traditional monetary policies to stimulate the economy. To address this concern, governments address alternative methods, such as increasing interest rates on investment and bank deposits, lowering prices, and adopting a zero-interest policy on loans. These strategies can motivate people to invest in securities, lower prices, and offer one-time deals, ultimately helping the economy recover. Alternative methods like running negative loan interest rates and lowering product prices and living costs are essential for addressing the liquidity trap.

How Do Liquidity Providers Shape the Market?

The average daily trading volume of the foreign exchange market is $7 billion. The money’s perceived flexibility on a global scale is the reason for the simplicity with which assets can be purchased and sold.

The success of this industry is not a result of luck. Market efficiency and its participants’ success depend on a group of crucial actors. What is the role of these providers in the market?

The importance of liquid assets in the foreign exchange market.

It’s about how quickly and efficiently a currency can be bought or sold without causing large price swings. Thanks to a wide array of participants, this level of flexibility in the foreign exchange market is possible.

There is always someone ready to finalize a transaction. The result? Currency pairs are traded smoothly, with efficient execution and minimal spreads, a testament to the market’s high liquidity.

The importance of liquid assets cannot be overstated. It’s a vital part of the machinery of market efficiency, enabling quick and smooth asset movements. It is a buffer against sudden price changes because someone is always ready to buy or sell an asset at the prevailing market price.

The machine is vital to keeping it well-oiled. The market remains liquid because they hold significant volumes of foreign currency and are willing to operate on tight spreads. Their presence makes it easier for traders to enter and exit positions in the market. Without LPs, the market could become less efficient and more susceptible to large price swings.

Types of Liquidity Providers

The foreign exchange market has a variety of Liquidity Providers. There are three primary categories for LPs. There are banks, non-bank partnerships, and electronic communication networks.

Tier-1. Major global banking entities like HSBC and J.P. are included. The primary providers are Morgan. They fuel the market with their financial resources.

Banking institutions are not the only ones that contribute to market liquidity. Hedge funds, private trading firms, and other financial institutions are included in this group.

Small market participants and larger liquidity providers use ECNs. Smaller investors and traders can tap into more prominent market entities with quotes from various LPs.

Why should you work with a broker?

There are several benefits to working with an FX Liquidity Provider as a broker.

  • Enhanced Market Efficiency.

As a broker, working with anLP contributes to market efficiency. It is possible to narrow the spread between bid and ask prices with the help of LPs. The process reduces transaction costs for traders.

  • Increased Market Transparency.

Market transparency can be achieved by partnering with an LP. A centralized trading platform can make pricing trends and market activities more apparent. Increased visibility decreases the potential for fraudulent activities and market manipulation.

  • Improved Market Liquidity.

Market liquidity can be improved by collaborating with an LP. The market is dynamic because of the smooth interactions between buyers and sellers. The continuous flow of transactions prevents market swings.

  • Reduced Market Risk.

LPs mitigate market risk. The potential negative impacts of market volatility can be mitigated by providing a centralized platform for trade execution. Short-term traders may benefit from taking advantage of market fluctuations to maximize profits. It is possible to yield substantial benefits in terms of efficiency, transparency, liquidity, and risk reduction by working with a broker.

Top Liquidity Providers In FX.

Three organizations are highlighted as superior in the market.

  1. B2Broker.

B2Broker is celebrated for its technology and services. They have an extensive pool of premier Banks and non-Bank providers, guaranteeing seamless execution of transactions of all sizes. B2Broker has over 800 trading instruments and a global presence across eight asset classes. 

  1. Top FX.

TopFX, a Prime CFDs Broker with a 12-year history, offers unparalleled liquidity services to clients. It allows the trading of over 600 assets. A safe and dependable trading environment is ensured by client funds being kept in secure, segregated accounts.

  1. FXCM Prime.

FXCM Prime is a centralized platform. The consolidated view of client positions is provided by integrating trades from various ECN and individual bank trading platforms. FXCM Prime is a comprehensive solution for diverse trading firms.

Conclusion

The foreign exchange market depends on the role of Liquidity Providers. Their presence reduces transaction costs for traders. LPs can mitigate market transparency and market manipulation risk.

It’s essential to consider the breadth of its product and service offerings. To receive smooth and healthy services, it’s essential to verify their reputation in the market.

Looking For Ways to Market Your Business? Here Are Some Effective Ideas

Marketing involves actively promoting your products or services to attract your target customers, increase brand awareness, and drive sales. Companies must employ creative and effective marketing strategies in today’s competitive marketplace to stand out. If you’re looking for ways to market your business and reach your target audience, this article is here to help. It’ll explore proven and innovative marketing ideas to elevate your brand and boost your business’s success.

Leverage Promotional Items

Before diving into marketing strategies, defining your target audience is essential. Knowing your ideal customer base will help you customize your marketing efforts to appeal to the right people. From there, you will have a good insight into which promotional items will appeal to them. Promotional items can be a powerful and cost-effective marketing tool to create brand recognition and customer loyalty. These items typically feature your company’s logo, name, or message and are given away as gifts to customers or potential clients. 

When choosing promotional items, consider items that are practical, useful, and aligned with your brand identity. Opt for custom label bottled water or branded reusable water bottles, which serve a functional purpose and can effectively showcase your logo or message. These items increase your brand’s visibility whenever they are used or displayed. 

Build a Strong Online Presence

In today’s digital age, having a solid online presence is paramount for any business. To build and maintain an online presence, create a professional website. Your website is often the first point of contact with potential customers. Ensure it is user-friendly, visually appealing, and provides valuable information about your products or services. If you’re not adept at web design, consider hiring the best webflow development agency to ensure your site meets industry standards. Optimize your website for mobile apps, as many people now look into the internet through their smartphones and tablets. Start a blog and consistently publish high-quality and relevant content. Blogging establishes your business as an industry authority and improves your website’s search engine rankings, driving organic traffic to your site.

Utilize Search Engine Optimization (SEO)

SEO can improve your website’s visibility in search engine results. When potential clients search for products or services related to your business, you want your website to appear at the top of the search results. Identify relevant keywords that your target audience uses in searching for products or services like yours. Use these keywords strategically throughout your website’s content, titles, and meta descriptions. Create high-quality, relevant content that answers your audience’s questions and provides value. Search engines favor content that is informative and valuable to users. Earn backlinks from authoritative websites in your field. Backlinks are links from other websites that point back to your site. They can improve your website’s authority and search engine ranking.

Harness the Power of Content Marketing

Content marketing is a valuable strategy that focuses on creating and distributing valuable content, attracting and retaining a clearly-defined audience. Create informative and educational content that addresses your audience’s pain points and provides solutions. This can include blog posts, how-to guides, whitepapers, and e-books. Visual content like infographics, videos, and images, can be highly engaging and shareable. Use visual content to convey complex information in a visually appealing manner. Encourage your customers to also create and share content related to your brand. User-generated content can include reviews, testimonials, social media posts, and videos. It builds trust and authenticity around your brand.

Engage in Social Media Marketing

Social media marketing is a meaningful way to connect with your audience, build brand loyalty, and generate leads. Post on your social media accounts consistently to maintain engagement with your audience. Create a content calendar to schedule your posts in advance. Respond to comments, messages, and mentions from your followers promptly. Engaging with your audience shows that you value their input and care about their needs. Use eye-catching visuals to capture your audience’s attention—host contests and giveaways to encourage audience participation and increase brand awareness. Contests can be fun and interactive to engage with your followers and attract new ones. 

Monitor and Analyze Performance 

Monitoring and analyzing your online marketing performance is crucial for making informed decisions and continuously improving your marketing efforts. Start by identifying the key metrics that align with your marketing goals. These KPIs will vary depending on your objectives, such as brand awareness, lead generation, website traffic, or conversion rates. Common KPIs include website traffic, click-through rates (CTR), conversion rates, social media engagement, email open rates, and return on investment (ROI). Utilize various analytics tools to gather data and insights on your online marketing efforts. 

Incorporating these ideas into your overall marketing strategy can create a comprehensive and impactful approach to growing your business. Remember to define your target audience, conduct market research, and stay updated with the latest marketing trends and technologies. Combining creativity, consistency, and data-driven insights enables you to reach your target audience, drive conversions, and achieve long-term business success. Embrace these practical marketing ideas, adapt them to suit your unique business needs, and take your brand to new heights in the ever-evolving marketing world.

Navigating the Used Phone Market in Ireland

Purchasing a used mobile phone in Ireland requires one to navigate the intricacies of a dynamic, yet rewarding marketplace. The second-hand mobile phone market in Ireland, just like in many other parts of the world, has seen significant growth over the past few years. This growth is attributed to factors such as the high cost of new smartphones, shorter upgrade cycles, and a heightened environmental consciousness among consumers.

Being a well-established market, Ireland’s used phone ecosystem offers a diverse range of devices, from budget-friendly models to high-end flagship devices. To successfully navigate this market, potential buyers should understand the different sales platforms available, ranging from online classified sites, social media marketplaces, retail shops specialising in used devices, and buyback programmes offered by network carriers. These platforms offer varying levels of consumer protection, pricing, and device condition, which a potential buyer must consider.

Assessing Phone Condition and Pricing

One of the critical steps when buying a used phone in Ireland is assessing its condition. This assessment involves checking the physical and operational state of the device. Physically, the phone should not have extensive damage or significant wear. Operationally, the phone should function properly, with all its features working as intended. 

Some sellers may use grading systems, such as ‘Mint’, ‘Good’, and ‘Fair’ to describe the device’s condition. Be sure to understand what each grade means from the seller’s perspective before making your decision.

In terms of pricing, the second-hand phone market operates on a depreciation model, with the phone’s price decreasing as it ages. Other factors that affect the price include the phone’s brand, model, storage capacity, condition, and whether it is locked to a network. 

To ensure you are getting a good deal, it’s essential to compare the asking price against the current market rate for a similar used device. Several online platforms offer price comparison tools that can be handy for this purpose.

Verifying Device Ownership and Network Compatibility

In Ireland, as elsewhere, it’s crucial to confirm the ownership status of the phone you intend to buy. Buying a stolen phone could land you in legal trouble, besides the ethical issues involved. It’s advisable to request proof of ownership, like an original receipt or box, from the seller. Some online platforms also allow you to check the phone’s IMEI number to verify if it has been reported stolen.

Additionally, you must ensure the phone is compatible with your network provider. Ireland uses the GSM network standard, just like the rest of Europe. Thus, phones from countries using the same standard should work without a problem. However, certain phones from countries such as the United States, which uses a different network standard, may not be fully compatible with Irish networks.

Warranties and Consumer Rights

Understanding your rights as a consumer is key when buying used phones. Under Irish law, used goods purchased from a business must be of satisfactory quality, fit for their intended purpose, and match their description. If a purchased device doesn’t meet these criteria, you may be entitled to a repair, replacement, or refund. However, private sales typically do not come with these protections, so it’s crucial to scrutinise the device thoroughly before completing the purchase.

Warranties on used phones can vary. While some used phone retailers may offer their own warranties, others may only pass on the remaining warranty from the manufacturer, if any. Ensure you understand the terms of any warranty before purchasing.

Evaluating Battery Life and Software Support

Two significant factors that often go unnoticed when buying a used phone are the device’s battery life and its software support. Battery degradation is a common issue with used smartphones. As batteries age, their capacity to hold charge diminishes, affecting the device’s performance. Therefore, inquire about the battery’s health before purchasing the used phone. Some smartphones have built-in battery health indicators, while third-party apps can provide an estimate for others.

In terms of software support, the age of the phone can limit the updates it receives, which could affect usability, security, and the range of available apps. Generally, flagship phones receive software updates for a longer period than mid-range or budget devices. It’s advisable to check the manufacturer’s website or contact their customer service to know the software update policy for the specific model you are planning to buy.

Completing the Transaction Safely

Whether you’re buying a used phone in-person or online, safety should be a top priority. For in-person transactions, choose a public and well-lit meeting place. Online buyers should use platforms with secure payment systems and consider using escrow services where funds are held by a third party until the buyer receives the phone.

Scams are a real risk when purchasing used phones. Be wary of deals that seem too good to be true. Scrutinise seller profiles for reviews or ratings where possible and be cautious of sellers who push for quick sales or refuse to provide necessary information about the device.

Data Security and Privacy

Another consideration when buying a used phone is data security and privacy. Ensure that the seller has performed a factory reset to remove all personal data from the device. You should also perform a reset yourself upon receiving the device, just to be sure. Agencies such as proseoireland.com can assist you with this if you are stuck. 

Before you start using the phone, install a reliable security app to scan for any potential malware that could be lurking in the system. Check for system updates immediately and install them to make sure you are running the most secure version of the software.

The Smart Buyer’s Approach

Buying a used phone in Ireland can be an excellent way to save money, reduce e-waste, and gain access to a wide range of devices. With careful consideration and a good understanding of the market, you can find a second-hand phone that meets your needs and provides value for money. Remember, it’s all about doing your research, asking the right questions, and taking your time to make an informed decision.

 

The Crypto Bear Market Is Here: How To Invest Now?

In the world of cryptocurrencies and digital tokens, a bear market is as dangerous as it gets. In fact, right now, every single investor would love to see their capital grow rather than shrink. But while this may be the case for some, not everyone is gifted with this same good fortune when it comes to financial security.

If you’ve been keeping up with the cryptocurrency news lately, then you’ll know that crypto markets have just taken a bit of a beating in recent days.

So without further ado, below we take you through everything you need to know before investing your capital in crypto again.

Basics of Crypto Bear Market

A bear market is when the stock market experiences a prolonged period of decline. Usually, a bear market lasts for months or even years and can be caused by factors such as economic recession or geopolitical tensions. During a bear market, stock prices often fall by 20% or more from their peak levels.

However, there are some silver linings to a bear market. For example, stock prices usually bottom out before starting to recover, so there may be opportunities for investors who are willing to buy during the downturn.

Additionally, bear markets often provide a good opportunity to buy stocks at discounts. Of course, timing the bottom of the market is difficult, so investors need to be careful not to overpay for assets during a bear market rebound.

Overall, while a bear market can be painful in the short term, it can also present opportunities for savvy investors who are willing to take on some risk.

What Caused The Recent Crypto Market Crash?

The recent crypto market crash was primarily caused by the Stock Market. When the Stock Market crashed, it caused a domino effect that led to the value of crypto assets plummeting. This is because many people invest in both the Stock Market and crypto, so when one crashes, it often leads to the other crashing as well.

The Stock Market crash caused a lot of uncertainty and fear among investors, which led to them selling off their crypto assets. This selling pressure then caused the value of crypto to drop even further, leading to the recent market crash.

While the Stock Market is still struggling to recover, the crypto market has begun to rebound and is slowly heading back up. However, it will take some time for it to fully recover from this crash.

What’s A Good Time To Invest In Crypto Again?

For those who are looking to invest in crypto, asset prices are an important consideration. After all, nobody wants to buy into a market that is crashing. However, asset prices are only one piece of the puzzle. Timing is also critical when it comes to investment strategy.

For some investors, the best time to buy is when asset prices are low and there is the potential for substantial growth. Others prefer to wait for the next bull market before investing. Ultimately, the best time to invest in crypto will vary depending on an individual’s goals and risk tolerance.

As such, it is important to do your own research before making any decisions. By taking the time to develop a well-thought-out investment strategy, you can increase your chances of success regardless of when you choose to invest.

When Is A Bad Time To Invest In Crypto?

Cryptocurrencies have become increasingly popular in recent years, with many people seeing them as a viable investment option. However, there are certain times when it may be advantageous to avoid investing in crypto.

For instance, if the traditional financial markets are doing well, it may be wise to keep your money there instead of moving it into crypto. This is because the crypto markets are still relatively new and volatile, so they tend to move in the opposite direction of the traditional markets.

Another time when you may want to avoid investing in crypto is when your crypto portfolio is already doing well.

If you have made good gains in crypto, it may be wise to take some profits off the table and reinvest them elsewhere. By doing this, you can protect yourself from any potential losses if the markets turn against you. In general, then, it is best to avoid investing in crypto when the traditional markets are doing well and when your crypto portfolio is already doing well.

The Final Thing You Need To Know Before Investing Again

Crypto investors are used to the constant ebb and flow of the markets. however, the current bear market has been especially tough on digital assets. After reaching all-time highs in December 2017, the value of Bitcoin and other virtual currencies has fallen sharply. While some investors have been able to weather the storm, others have been left wondering if they should pull out of the market altogether.

For those who are thinking about investing again, there are a few things you should keep in mind.

First of all, it’s important to remember that bear markets are a normal part of the investment cycle. Just as prices go up during bull markets, they will eventually come down during bear markets. However, bear markets don’t last forever, and they provide an opportunity for savvy investors to buy low and sell high.

Second, it’s important to stay diversified. Crypto investors often put all their eggs in one basket by investing heavily in a single currency. This may work during bull markets, but it can backfire during bear markets.

By diversifying your portfolio across multiple assets, you can minimize your risk and maximize your chances of success. Finally, don’t forget that the current bear market is taking place in the broader context.

Know the difference between a crash and a bear market

Experienced traders know the difference between a crash and a bear market. A crash is a sudden and sharp decline in stock prices, typically over a short period of time. A bear market is a prolonged period of declining stock prices, typically lasting for months or years.

Both can have a significant impact on an investor’s portfolio, but they differ in terms of timing and magnitude. A crash is typically over relatively quickly, while a bear market can last for months or even years.

Conclusion

The crypto bear market is here to stay for a while. This doesn’t mean that you should give up on cryptocurrencies, though.

There are still opportunities to invest in good projects and make a profit. We’ve outlined a few tips for how to invest now during this bear market. Follow these guidelines and you’ll be sure to come out ahead when the market rebounds.

 

Irish Insurance market to embrace email intelligence to fight fraud

Shane McCabe, strategic account manager, Insurance, Ireland, LexisNexis Risk Solutions 

An Garda Síochána (Ireland’s National Police and Security Service) lists the ‘Advance Fee Fraud of Ghost Broking and Car Insurance Fraud’ as one of the six most common types of fraud happening in Ireland today.  A new survey by LexisNexis® Risk Solutions of Irish insurance customers certainly seems to back this up.  Our findings show that over a third (34%) have been tempted by an advert for cheap insurance on social media – a common sales channel used by ghost brokers – and 16% of 17-24 year olds have actually bought insurance through a social media advert.  Equally concerning is the fact that just 24% of the people surveyed know about ghost brokers.

Ghost brokers promote unrealistically cheap car insurance on social media and sell on bogus policies using stolen ID to unwitting younger or high-risk drivers who are in search of a cheap policy.  Little wonder over half (58%) of the insurance customers we surveyed are worried their identity could be compromised for insurance fraud and the vast majority (89%) now expect insurance providers to undertake identity checks.

There is no denying that fraud costs the Irish insurance industry dear.  Aside from ghost broking, insurance providers face the growing problem of people deliberately misstating information in an application for a cheaper quote – 25% of Irish insurance customers in our study thought that this is somewhat or completely acceptable, rising to 43% of the 17-34 year old population.  

Despite investment in educational campaigns warning of its danger, an estimated €200 million is lost to insurance fraud each year which inevitably impacts upon insurance premium prices for innocent policyholders.  In fact, approximately €50 on every motor insurance policy goes towards covering the cost of fraudulent claims on an annual basis. 

Countering fraud starts with confirming that an applicant is who they say they are and not linked to fraud, often using public records data and data shared amongst insurance providers. This continues to provide a strong basis for identity validation, but can prove time-consuming and may cause friction when the vast majority of genuine customers deserve a quick and painless application and purchase experience. 

The next evolution in identity validation uses email address intelligence.  This has worked to great success in the U.K insurance market where it is providing flags for fraud early in the application process and helping to cut cancellation costs. Now insurance providers in the Republic of Ireland are set benefit.

An email addresses is a unique global identifier and one of the most commonly used components for any online transaction.  An email address is also linked to multiple online accounts and transactions. This means each individual email address creates a digital footprint which can make it one of the most powerful tools for detecting application fraud. 

Solutions such as LexisNexis® Emailage® Rapid provide an instant risk score at the point of quote to indicate a genuine identity, whether the identity has previously been linked to fraud or whether it could be a fraudulent ID created to either procure insurance with the sole intent of making a fraudulent claim, or to sell insurance on as a ghost broker. It can also indicate whether the email address and domain even exist, when the email address was first seen, or whether the email address bears a close resemblance to the proposer’s name for the policy.

This solution leverages billions of online transactions and email address data points, including 82,200 fraud events shared on average daily.

Internet penetration stands at over 90% in Ireland and as nearly one third (32%) of younger people  aged between 16 and 29 years either bought or renewed existing insurance policies online last year,  it is easy to see how vulnerable they might be to fraud but also how susceptible the insurance market is to online fraud.  

As the volatility of the macroeconomic environment continues unabated, it is more important than ever for insurance providers to conduct robust fraud prevention strategies.  Innovations such as email identity validation can help to boost the Irish insurance market’s resilience to identity fraud, protect unwitting motorists from the threat of ghost brokers and ensure a streamlined quote experience for the genuine customers.

In February 2020, LexisNexis Risk Solutions acquired Emailage, a fraud prevention and risk management solutions provider. LexisNexis® Emailage® is a proven risk assessment tool that is fuelled by continuously updating global digital insights and uses a patented, proprietary analytic approach to reimagine fraud detection.

Is Your Product Ready For The Market? Here’s How To Find Out

Are you an entrepreneur or inventor looking to launch a new product? You may have spent months, if not years, developing the perfect product – but is it truly ready for the market? Before you take the leap and introduce your product to the public, it’s important to ensure it is ready. In this article, we’ll take a look at the key steps you should take to ensure your product is ready for launch. Let’s get started.

Consider Product Testing

One of the best ways to know if your product is ready for the market is to test it. You can conduct product testing through experts to ensure it meets the standards and expectations of your target audience. They will assess the product’s design, features, and performance to give you valuable feedback. This could also help you determine if there are any potential problems or issues that need addressing before the launch.

Moreover, you can use volunteers to test your product. This can help you gather valuable data and insights into the user experience. It is also a great way to build hype for your product before launching it in the market. Ensure that your product testers represent your target audience so you can get the most accurate insights and feedback.

Gather Customer Feedback

Another way to know if your product is ready for launch is to gather customer feedback. You can do this through surveys, polls, and interviews with people who have tested the product. This will give you a better understanding of their thoughts about it and how they use it.

Gather customer feedback by offering incentives such as discounts or free samples to encourage people to provide their honest opinions. You can also ask questions such as how the product helped them, what features they liked or disliked, and how it compared to similar products in the market. This data will help you make changes and adjustments before launching it in the market.

Conduct Market Research

One of the most important steps in knowing if your product is ready for launch is to conduct market research. This will give you a better understanding of your target audience, their needs and preferences, and what they are looking for in products. It will also provide insights into the competition and how to differentiate your product from them.

Market research should be comprehensive to cover all aspects of the market and the product. This includes customer demographics, pricing, competitive landscape, industry trends, and more. You can then use the research to make the necessary changes to ensure your product is ready for launch.

Do Pre-Orders and Pre-Launch Events

Pre-orders and pre-launch events can be a great way to know if your product is ready for the market. They indicate how many people are interested in the product and if there is enough demand for it. You can also use this data to make any changes or adjustments before launching it in the market.

Pre-launch events such as webinars and online demos also help you gather feedback from potential customers. This can give you an idea of how people perceive the product and what features they like or dislike. Pre-orders are also a great way to gauge customer interest in the product before launch day.

By following these steps, entrepreneurs and inventors can ensure their product is ready for launch. Product testing, customer feedback, market research, and pre-orders are all great ways to know if your product is market-ready. Doing so will help you make the necessary changes before launching it in the market and increase the chances of success. So don’t forget to do your due diligence before launching your product.

Crypto markets take a deep Dive amid rate hikes

Crypto markets are taking a deep dive amid rate hikes. Bitcoin, Ripple’s XRP, and Ethereum’s ETH are all in the red today. The reason for the market sell-off appears to be a combination of things.

Cryptocurrency Price Action

The cryptocurrency markets took a deep dive this week amid concerns about rising interest rates. While prices have recovered somewhat from their lows, the overall trend remains downward.

Investors appear to be fleeing the space in droves, as evidenced by the sharp decline in trading volumes. This is likely due to a combination of factors, including increasing regulation and uncertainty about the sector’s future. IF you are into cryptocurrency investment, you may check about BTC And ETH.

With prices falling and no end in sight to the bear market, many investors are wondering if now is the time to give up on cryptocurrencies altogether. However, given the volatile nature of the asset class, it may be wise to wait for a more stable period before making any decisions.

Cryptocurrency Prices Heatmap

The following is a heatmap of the top 10 cryptocurrencies by market capitalization, according to data from CoinMarketCap.com.

As you can see, prices are down across the board, with most coins in the red.
Bitcoin, the world’s largest cryptocurrency by market cap, is currently trading at $13,552.33, down 4.38% in the last 24 hours. Ethereum, the second largest cryptocurrency by market cap, is currently trading at $1,203.10, down 5.97% in the previous 24 hours.

Ripple, the third largest cryptocurrency by market cap, is currently trading at $1.23, down 8.84% in the last 24 hours. Bitcoin Cash, the fourth largest cryptocurrency by market cap, is currently trading at $2,515.81, down 5.78% in the previous 24 hours.

Litecoin, the fifth largest cryptocurrency by market cap, is currently trading at $224.39, down 6.71% in the last 24 hours. Cardano (ADA), the sixth largest cryptocurrency by market cap, is currently trading at $0.611162, down 7.55% in the previous 24 hours .

More Cryptocurrency Prices

As the world economy continues to strengthen, cryptocurrency prices have taken a deep dive. All major digital currencies have lost value over the past 24 hours, with Bitcoin (BTC) falling below $9,000 and Ethereum (ETH) dropping below $700.

The sell-off comes as the US Federal Reserve raises interest rates for the second time in just three months. Higher rates typically weigh on stock and asset prices, and this appears to be the case for cryptocurrencies as well.

With more rate hikes expected in 2018, it’s possible that we could see further declines in cryptocurrency prices. However, given the volatile nature of these markets, any number of factors could cause prices to rebound in the near term. So while a further drop cannot be ruled out, neither can a sudden surge in prices.

Top NFT Sales And Collections

The crypto markets took a deep dive this week amid fears of interest rate hikes by the US Federal Reserve. However, even in the midst of this market turmoil, some digital collectors were able to rake in serious profits from the sale of their non-fungible tokens (NFTs).

Here’s a look at some of the top NFT sales and collections from the past week:

1. The Fyre Festival NFT collection sold for a total of $122,000

This collection of NFTs was created by artist Beeple and was inspired by the infamous Fyre Festival. The group included five different NFTs, each depicting a different scene from the festival.

2. A collection of CryptoKitties sold for $140,000

This collection of digital cats was created by artist Guillaume Graton and was auctioned off on Foundation, an NFT marketplace. The winning bidder will receive ten different CryptoKitties, each with its own unique characteristics.

3. A digital artwork called “Everydays: The First 5,000 Days” sold for $69 million

This piece by Beeple is a JPEG file that contains 5,000 images, each representing one day. The work was sold as an NFT on the Foundation marketplace.

4. A collection of NBA Top Shot moments sold for $1.8 million

This collection of digital memorabilia was auctioned off on the NBA Top Shot marketplace. It included moments from players such as LeBron James and Zion Williamson.

5. A digital artwork called “The Forever Rose” sold for $1 million

This piece by artist Mike Winklemann, also known as Beeple, was sold as an NFT on the Foundation marketplace. It is a JPEG file that contains a single rose that is set against a black background.

Conclusion

Overall, crypto markets have taken a deep dive amid rate hikes. This is likely due to the fact that investors are concerned about the potential for inflationary pressures down the road. However, it’s important to keep in mind that crypto assets are still in their early stages of development and there is a lot of uncertainty surrounding them. As such, it’s important to do your own research before investing in any digital currency.