We Were Kings or When Things Went to Zero

The title was inspired by the 1996 documentary "When We Were Kings" about the heavyweight fight of 1974 between two boxing legends, Muhammad Ali and George Foreman. In the not-so-distant future, it will also be a fitting phrase for many in the banking and insurance industries. Readers may ask themselves why I'm talking about banking and insurance in such doom-ridden terms. My bleak forecast doesn't stem from the notion behind the common fintech (financial technology) and insurtech (insurance technology) industry pitch that they will change their respective industries with innovation and better customer experiences. Although I firmly believe that some of the startups will cause significant pain to the incumbents and will indeed change their respective industries.