Digital Realty: Impact of data gravity on insurance industry
Digital Realty, a global provider of cloud- and carrier-neutral data centre, colocation and interconnection solutions, has published version 1.5 of its . The latest study covers 53 global metros and assesses the intensity and gravitational force of enterprise growth data on 23 industries.
“As businesses undergo the rapid pace of digital transformation, understanding the impact of data gravity intensity will be a fundamental requirement for both enterprises and service providers to unlock data-driven opportunities,” said Tony Bishop, SVP, Platform, Growth and Marketing at Digital Realty.
“Data gravity is an impediment to enterprise growth that will affect businesses across industries around the world. The release of our Data Gravity Index DGx 1.5 exploring the impact of data gravity across more metros and key industries is designed to help enterprises develop a data-centric architecture as they combat digital transformation challenges.”
The index analyzed Global 2000 enterprise companies’ presence in each metro, along with GDP, population, number of employees, technographics, IT spend, average bandwidth and latency, as well as flows of data. Digital Realty conducted research between August 2019 and August 2020 and drew upon third-party data sources – including the World Economic Forum and United Nations, as well as consulting and market research firms.
Data Gravity’s growing impact on key industries
The industries expected to experience the greatest data gravity intensity include banking and financial services, manufacturing and insurance, all of which are expected to see rapid growth in digital acceleration, digital-enabled interactions and data exchange volumes globally.
Key findings across Forbes Global 2000 enterprises include:
• Data gravity intensity for banking and financial services firms will be exacerbated by regional growth in key banking and financial hubs.
• Large manufacturers are expanding their data and analytics capabilities, driven by the growth of in-home consumption.
• The insurance industry is expected to see data gravity intensify as digital-enabled interactions continue to increase in importance while key metros experience rapid growth in the volume of enterprise data exchange.
Regional forecasts for new global metros
According to the expanded report, Jakarta, Indonesia is expected to generate the fastest growth in data gravity intensity, followed by Singapore, Rome, Hong Kong, Melbourne and Atlanta.
In addition, banking and financial services centres (such as London, New York, Tokyo, Paris, Hong Kong, Amsterdam, Beijing, Silicon Valley, Frankfurt, Toronto, Singapore, Washington, Charlotte, Sydney, Milan and Seoul) are expected to realise significant growth in the volume of enterprise data exchange.
“Data gravity continues to accelerate unabated, and so does the urgency of addressing it,” said Dave McCrory, VP of Growth, Head of Insights & Analytics at Digital Realty.
“We are expanding the findings of our Data Gravity Index to include an analysis of 23 industries and 32 additional metros to provide insights to help business leaders make better strategic decisions about where to locate their data.”
Digital Realty supports the world’s leading enterprises and service providers by delivering the full spectrum of data centre, colocation and interconnection solutions. Digital Realty’s global data centre footprint consists of more than 280 facilities in 49 metros across 24 countries on six continents.
The Ultimate FinTech & InsurTech LIVE Event
From October 12th-14th, 2021, BizClik’s FinTech & InsurTech event will bring together influential executives from around the world. Streamed live from Tobacco Dock, London, this three-day event will be an excellent way to finish the year strong, gaining the confidence your company needs to move forward into the future.
With keynote addresses from global leaders, dynamic roundtable discussions, and extensive networking opportunities, FinTech & InsurTech 2021 will expand your network, deliver insight, and enhance your organisation’s reach.
Already confirmed speakers include Colin Payne, VP & NextGen FS Global Lead at Capgemini; Dipu KV, President and Head of Operations & CX at Bajaj Allianz General Insurance Company; Bryan Caroll, CEO at TNEX; and Lucy Demery, Managing Director at Barclays.
The event will include:
- Keynote addresses from respected industry leaders
- Dynamic live roundtables (inc. Q&A)
- Fireside discussions
- Inspirational Speakers & Presentations
- Extensive networking opportunities
Meet the Speakers
Each week, from now until the event, we’ll be announcing the latest speakers who are set to grace our physical or virtual stage, prepared to share their knowledge and insight with attendees.
Our second batch consists of:
Currently the Senior Vice President of Business Development & Fintech for Mastercard UK & Ireland, a position he’s held since 2014, Abraham describes himself as “a proven and successful senior sales leader with experience across a wide range of industries, sectors, and channels.”
Graduating from the University of Northampton in 1994 with a BA in Economics and Law, he worked for nine years at Sainsburys - eventually responsible for banking the company’s revenue and running its ATMs - and then Barclaycard for three years as Head of Client Management. In 2007, Abraham became VP of Client Management at American Express, and then VP and GM Global Supplier Relations EMEA in 2012.
In his current role at Mastercard, Abraham is accountable for the acceptance of all payments and products through all channels, devices, and technologies across UK and Ireland. In addition, he oversees the deployment of innovative new payment tech within the region.
Fraser-Hawkins’ role as CEO, UK Corporate, at Marsh McLennan is the continuation of a long and successful insurance career, which has included being London Sales Director for JLT Group and Branch Director for Willis Towers Watson.
Marsh prides itself on being a company that hires top-tier talent, does work that impacts peoples’ lives, and offers its employees the opportunity to make a difference. This is clearly an attitude that aligns with Fraser-Hawkins’ own values; regarding the insurer’s UK Young Professionals initiative, a support network to help young professionals in their development, he said:
"I am passionate about developing talent and our Young Professional CRG provides a brilliant community for our Young Professional colleagues to discuss key issues relevant early in their careers, as well as an environment to promote the skills, learning and network for success."
Massaro is currently the CEO of Boston fintech Flywire, a role he took on in 2013. He first joined the team in 2012 as VP of Business Development, but it wasn’t long before his entrepreneurial skills were redirected to leading the entire company’s high-growth strategy worldwide.
An expert in domestic and international payments and billing, enterprise technology sales, strategic alliances, enterprise software, SaaS, product management and marketing, and much more, Massaro is a consummate finance professional whose credentials befit the leadership of a prominent global payments fintech.
His previous positions include Consultant at PwC and Product Line Manager at Oracle, and he maintains a Mentor role at startup accelerator MassChallenge. He graduated magna cum laude from Babson College with a BS in Information Systems and Finance.
This event is set to be one of the year's most unmissable. If you want to get leading perspectives on the future of fintech and insurtech, go to Eventbrite and purchase your tickets now.