{"id":563,"date":"2022-05-10T08:25:08","date_gmt":"2022-05-10T12:25:08","guid":{"rendered":"https:\/\/thegclgroup.com\/gclgcs2021\/the-effect-of-low-interest-rates-and-high-inflation-on-the-insurance-industry\/"},"modified":"2022-08-12T15:12:20","modified_gmt":"2022-08-12T19:12:20","slug":"the-effect-of-low-interest-rates-and-high-inflation-on-the-insurance-industry","status":"publish","type":"post","link":"https:\/\/thegclgroup.com\/gclgcs2021\/the-effect-of-low-interest-rates-and-high-inflation-on-the-insurance-industry\/","title":{"rendered":"The Effect of Low Interest Rates and High Inflation on the Insurance Industry"},"content":{"rendered":"<p><iframe loading=\"lazy\" style=\"width: 100%; height: 180px;\" src=\"https:\/\/anchor.fm\/beyond-the-challenge\/embed\/episodes\/The-Effect-of-Low-Interest-Rates-and-High-Inflation-on-the-Insurance-Industry-e1i44as\" width=\"100%\" height=\"180px\" frameborder=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>In this episode of Beyond the Challenge, we talked with Chris Blunt, President, and CEO, at F&amp;G Annuities and Life, about the trends, challenges, and opportunities he sees for the Insurance industry.<\/p>\n<p>Chris Blunt joined F&amp;G in 2019 after 33 years in a variety of insurance, investment management and wealth management roles. Most recently, he served as Chief Executive Officer of Blackstone Insurance Solutions, after nearly 13 years at New York Life in a variety of executive leadership roles. Chris is a Trustee of the American College of Financial Services and serves on the board of the YMCA of Greater New York.<\/p>\n<p>&nbsp;<\/p>\n<h2>Read the Transcript Here<\/h2>\n<div style=\"overflow-y: scroll; max-height: 400px; background: #eee; padding: 20px; border: 1px solid #ddd;\">\n<p class=\"p1\">(intro)<\/p>\n<p class=\"p1\"><i>Beyond the Challenge is a podcast where executives in the insurance and financial services industry share their insights and experiences. Hosts Kevin and Sandy Dougherty talk with today\u2019s top business leaders about what keeps them up at night and the biggest opportunity organizations can capitalize on today. We encourage you to listen, share, and subscribe to our program.<\/i><\/p>\n<p class=\"p1\"><i>Kevin and Sandy Dougherty each have over 20 years of experience in insurance and financial services, corporate leadership, and executive search. They\u2019re the owners of Global Corporate Solutions and Global Corporate Leaders. Global Corporate Solutions partners with organizations to gain efficiencies and contain costs. Global Corporate Leaders partners with organizations to enhance and evaluate talent.<\/i><\/p>\n<p class=\"p1\"><i>Beyond the Challenge podcast is sponsored by Exactuals, perfecting payments and the data driving them.<\/i><\/p>\n<p class=\"p1\"><i>Welcome to Beyond the Challenge. Here are your hosts, Kevin and Sandy.<\/i><\/p>\n<p class=\"p1\">(interview)<\/p>\n<p class=\"p1\"><b>Sandy:<\/b> Today we\u2019re talking with Chris Blunt, president and CEO at F&amp;G Annuities &amp; Life, about the trends, challenges, and opportunities he sees for the insurance industry. Chris, can you tell us a little bit about yourself and how you got into the industry?<\/p>\n<p class=\"p1\"><b>Chris:<\/b> Sure. So, Sandy, thanks for having me on. So, I\u2019m President and CEO of Fidelity &amp; Guaranty, as you said, and, prior to that, I spent about 30 years in financial services initially, in the wealth management business. I was a financial advisor with Shearson Lehman Brothers, they would be Morgan Stanley, did a brief stint in management then spent about 17 years in asset management and had the opportunity to move into the insurance industry when I joined New York Life back in 2004.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p class=\"p1\"><b>Kevin:<\/b> Chris, all sectors face challenges, but for the insurance industry, the list seems especially long. Many carriers seem to be struggling to stay relevant while others are embracing new technology, reimagining distribution channels, and developing strategic partnerships. What do you see as the future of distribution for the industry?<\/p>\n<p class=\"p1\"><b>Chris:<\/b> Yeah, I think it\u2019s a few things. I would probably use the word \u201chybrid,\u201d meaning I think the challenge our industry face is our products and solutions need to stand the test of something that could be consumed directly by a consumer. But that doesn\u2019t mean that consumers are not gonna choose to have advice and guidance and so I think this debate in the past of \u201cIs everything gonna go direct? Are things gonna still go through an advisor?\u201d I think the answer is you see both of that today in our business so we need to make sure we\u2019ve got products and services that are simple enough to consume directly, but knowing that the vast majority of clients are still gonna want the advice and guidance of a good financial adviser.<\/p>\n<p class=\"p1\"><b>Kevin:<\/b> Do you see the entrance of Google and Amazon in the insurance marketplace changing the way carriers see distribution?<\/p>\n<p class=\"p1\"><b>Chris:<\/b> I don\u2019t think so. I mean, the reason that I say that is, again, if you go back to the premise of what we do, we provide products, but products without guidance or some context for where those products fits is gonna be pretty limited, and I think for years, we\u2019ve been predicting that the whole world will go direct and there are certain products that I think do lend themselves for some direct distribution, simplified term insurance, for an example, would be an obvious case, but I think a lot of the solutions that we\u2019re bringing are only appropriate in the context of an overall plan. And so I don\u2019t see this necessarily game changing. I think they could be interesting lead sources for advisors there today and I think that\u2019s something that\u2019s going to continue.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p class=\"p1\"><b>Kevin:<\/b> Great answer. Appreciate that. How do carriers find their competitive advantage and keep it going?<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p class=\"p1\"><b>Chris:<\/b> That\u2019s a great question and you might say that\u2019s the billion-dollar question, Kevin, right? It\u2019s how do you do that? And one of the few things I remember from business school, because, sadly, it was such a long time ago, was the Michael Porter Competitive Strategy course and this idea that if you can\u2019t define what your sustainable competitive advantage is, you\u2019ve got a real problem and you better go find one. And in our case, we think it comes down to a couple pieces. One are just longstanding distribution relationships. We have some relationships that are 25 years old and that\u2019s a hard thing for competitors to replicate. The other is the partnership that we have with our investment manager who\u2019s a very large originator of credit. So, for us, it\u2019s sort of a twofold advantage. For other carriers, it might be completely different. It may be some proprietary technology that they have or some unique insights around customer experience. I think the key is to be able to define that and make sure that the investments you\u2019re making in your company are focused on those areas where you actually have a differentiated advantage. You know, I see where companies get into trouble sometimes, it\u2019s either trying to be all things to all people and, therefore, not really leaning into what\u2019s a true sustainable strength for them.<\/p>\n<p class=\"p1\"><b>Sandy:<\/b> What do you see as the main barriers to growth and innovation for carriers today?<\/p>\n<p class=\"p1\"><b>Chris:<\/b> I think it\u2019s always been the same thing, Sandy, which is just complacency. You know, I think if you think about it, our industry, for quite a while, has had really in many ways a monopoly on the use of the guarantee word. You know, banks offer guarantees, insurance companies offer guarantees. That\u2019s really about it in our space that can legally make guarantees. I think because of that, there\u2019s been too much of a reliance on the product being the end game, meaning if you just build, you know, a high functioning annuity, for example, well, that\u2019s good enough and clients will put up with maybe a clunky customer experience or a process that takes too long between the decision and the delivery of that final product. And so I think that\u2019s been probably the biggest. It\u2019s just a mindset and an area of focus. I think most carriers now have figured out that it\u2019s just not enough to have a good product. You have to have an overall experience that measures up to some of the better consumer companies out there.<\/p>\n<p class=\"p1\"><b>Sandy:<\/b> So how do carriers actually embrace innovation and transformation?<\/p>\n<p class=\"p1\"><b>Chris:<\/b> Well, it\u2019s probably biased, given my role, but I do think it has to come from the top. I think you have to set a culture where it\u2019s expected. You have to reward people for trying innovative things. You have to be careful that you don\u2019t punish every failure. I mean, if you expect perfection, the reality is people just won\u2019t try many things. And so, you know, there\u2019s areas where you need perfection, you gotta get the reserves set right, you need to have a good culture of compliance, but there\u2019s a lot of areas where if you wanna innovate, you have to be open-minded to trying some things and doing a little bit of experimentation.<\/p>\n<p class=\"p1\"><b>Sandy:<\/b> So, what is F&amp;G doing to stay relevant?<\/p>\n<p class=\"p1\"><b>Chris:<\/b> I\u2019d say it\u2019s two things. I think the first is investing in people. We\u2019re very focused on culture. It\u2019s been a core strength of ours. We\u2019ve hired a lot of folks and so we\u2019ve heard several hundred people just in the last two years alone so trying to lean into what is the underpinning of your culture and how do you maintain the type of culture where good people wanna work. If you think about it, we have very few patents in our industry, certainly not enforceable ones, and so, at the end of the day, if we attract the best and the brightest and we create a culture where they like coming to work, where they\u2019re focused on the job and not office politics, if you will, over time, you\u2019ll adapt, because markets change. Today, we make products that weren\u2019t even thought of years ago. Markets change, rules and regulations change. I think that\u2019s been the biggest one for us. And then secondarily, we\u2019ve made some big investments in technology. So, you know, in our case, about an incremental 100 million dollars over the last three years, which, for us, is a very big number, to try to make sure that we\u2019ve got the tools and technologies that will allow those smart people to spend time on things that are productive and adding value for customers.<\/p>\n<p class=\"p1\"><b>Sandy:<\/b> You talked a little bit about low interest rate earlier so how do you see the low interest rate in rising inflation affecting the current and future products?<\/p>\n<p class=\"p1\"><b>Chris:<\/b> That\u2019s a very tough environment. You know, I\u2019ve joked a few times that, you know, the last time inflation was a concern, I was listening to Led Zeppelin on my 8-track player so that dates myself, but it\u2019s really true. If you think about it, it was the mid-70s and the late 70s and so you probably need to be well into your 70s or, more likely, your 80s to have managed money or been in our business during a high inflation rising interest rate environment. So, I think the biggest change is for people to change their mindset because most of us have managed either companies or managed money in periods of rates simply falling so I think that would be one. So, it will have a huge impact on how people think about their investment portfolios. We spent a lot of time with our investment partner, Blackstone, on what does inflation mean to the investments that we have today and the types of investments we wanna make over the next couple of years. And then, similarly, for product design. You know, what is the implication on that? What are client\u2019s expectations going to be? Is this gonna crimp their buying power sufficiently that we need to think about different ways to design products for customers? So I think it\u2019s gonna be quite far reaching.<\/p>\n<p class=\"p1\"><b>Kevin:<\/b> Chris, what do you see is the next new product within the life and\/or annuity marketplace?<\/p>\n<p class=\"p1\"><b>Chris:<\/b> I would say a couple of things. I think it\u2019s gonna be more process than product. And what I mean by that is I don\u2019t think most customers right now are saying, \u201cWell, if I just had some more products, you know, I could really solve all my financial needs.\u201d I think we\u2019ve buried them in product and, frankly, a lot of products are probably overly complex, which can be intimidating to clients. I think we will see more innovation, frankly, around process, meaning how do those products fit in the context of a portfolio? You know, Sandy asked a good question about inflation and interest rates. Well, I would argue, in a rising rate environment, the only sane way to own fixed income or bonds is to own it in the general account of an insurance company, right? Because, otherwise, you\u2019re gonna see the value of those bonds go down as rates rise. You could see forced selling in the context of a mutual fund. So, I think a lot of advisors now are positioning fixed annuities, for example, as a bond surrogate in an overall investment portfolio. So, it makes a lot of sense, it\u2019s logical, it\u2019s intuitive for clients but it\u2019s not easy to do today. You can\u2019t seamlessly, in most cases, fit an annuity the way you could maybe fit a bond mutual fund. So I think some of the innovations will be breaking down some of those barriers that make portfolios look a little more piecemeal and have them play together in a better way. Selfishly, I think products like RILA, registered index-linked annuities, it has just a lot of legs to it. Because if you think about it, we\u2019re finally giving clients what they always wanted is some metes and bounds on what their returns can be. So many clients say, \u201cI\u2019m risk averse,\u201d it doesn\u2019t mean that they\u2019re not open to losing some money, they just don\u2019t wanna get wiped out, like perhaps they were in 2008, 2009. So being able to say to a client, \u201cWell, here\u2019s the upside you can have if you\u2019re willing to accept 5 percent downside, here\u2019s the upside at 10 percent downside.\u201d I think it\u2019s a little bit of a holy grail, you know, what investors have wanted. It was just, \u201cGive me some sense of parameters of what the upside and the downside is on my investments.\u201d<\/p>\n<p class=\"p1\"><b>Kevin:<\/b> Chris, what is your opinion about the future of insurance regulations and compliance as we know it today?<\/p>\n<p class=\"p1\"><b>Chris:<\/b> Yeah, I mean, today, it\u2019s pretty fractured, as you know. I feel for financial advisors because, you know, you\u2019ve got the NAIC rules which dictate most insurance products, then you\u2019ve got Reg D I and, you know, if you\u2019re selling registered products, a different set of rules, and now the Department of Labor inserting itself on IRA rules and so, you know, in the old days, when I sat down with you, I may have had one conversation as your advisor. I generally had one set of rules that I was expected to abide by. Now, depending on what we\u2019re talking about, I could have three or even four different rules that I need to think about. So it\u2019s complex. My hope is, and I do think, eventually, it may take a long time, we\u2019ll see some harmonization of those rules, but one thing\u2019s really clear, you know, the expectations are just gonna go up, meaning, you know, there will be stricter, more fiduciary like standards regardless of the type of advisor that you are today. And that\u2019s not necessarily a bad thing. I actually think that\u2019s a good thing. I think the industry is fully supportive of treating clients in their best interests. You know, where things get contentious is how does one define that and are regulators trying to decide in advance which products are good, which products are bad, what type of compensation I think is where it gets complicated.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p class=\"p1\"><b>Kevin:<\/b> What type of strategic partnerships do you see working best for carriers?<\/p>\n<p class=\"p1\"><b>Chris:<\/b> That\u2019s a good question. Obviously, there\u2019s different types of carriers so it depends very much on what their core products are, but two areas that seem to have been quite productive. One is anything around client experience. And as I said before, going back to the history of our industry, it\u2019s never been a strong suit. You know, if you said, \u201cWell, who\u2019s got the best end customer experience?\u201d you generally didn\u2019t come up with a list of insurance companies on your list of organizations. So I think those have been really smart partnerships. We\u2019ve made some partnerships of our own there of folks who just get up and think, first and foremost, what\u2019s it like to be the end consumer of this product? So some of it\u2019s a mindset, some of it has to do with technology. So I\u2019d say that\u2019s one. And then the other is a lot of innovation around underwriting. How do you use data in a good way? How do you use data in a way that\u2019s non-discriminatory but is really just trying to make the process faster and more efficient? That\u2019s another area we\u2019ve leaned into. We\u2019re growing pretty rapidly in the middle market for life insurance. And there, in particular, people just don\u2019t have patience for a long, clunky underwriting process. And in many cases, they\u2019re even willing to pay a little bit more to just streamline that experience.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p class=\"p1\"><b>Kevin:<\/b> What do you see as the biggest opportunity for the insurance industry over the next three to five years?<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p class=\"p1\"><b>Chris:<\/b> Yeah, I might highlight two. I think one that the industry has identified for years and, frankly, just hasn\u2019t executed on is this insatiable demand in the middle market for life insurance products. A lot of that is just the number of licensed agents has gone down pretty much every year, I think, for 20 years, and yet the demand for guidance, the demand for protection has gone through the roof. So I think there\u2019s a number of us that are very focused on that segment, but that is still the Wild, Wild West, just meaning there\u2019s huge opportunity, there\u2019s massive demand, there\u2019s an opportunity for lots of carriers to be successful there but you have to have a strategy to reach them. So I would say that\u2019s one. And then the other is, while it\u2019s been uneven, the wealth creation in this country is just stratospheric. So, you know, there\u2019s just a lot of money out there looking for a home. A lot of that is right now sitting in bank deposits so that\u2019s probably the most immediate opportunity. I think banks are just drowning in deposits and you have a lot of people who are looking for a higher return but not quite ready to go fully into stocks or bonds. And so I think for products like fixed annuities or indexed annuities, I think the next few years are gonna be just full of opportunity there.<\/p>\n<p class=\"p1\"><b>Sandy:<\/b> What is the best decision you made that had a positive impact on your career?<\/p>\n<p class=\"p1\"><b>Chris:<\/b> Yeah, I think that one\u2019s pretty easy and I mentioned earlier that I spent the first 17 years of my career in the asset management industry. I was hired by New York Life but I was hired in their asset management division. And, in 2007, the then brand new CEO, Ted Mathas, was anointed to be the next CEO and reached out and asked me to come join his leadership team and, at the time, it wasn\u2019t an easy decision because I had invested almost 20 years in a certain industry where I knew everybody, I had a certain amount of expertise. Candidly, my friends in the asset management side thought I was, you know, stupid for even thinking about it. You know, insurance is boring, you know, it\u2019s a very big company, et cetera, et cetera. In hindsight, it was just a great move. I learned a ton. I learned a ton working for Ted. I learned about an industry that I just think is fascinating that I would be hard pressed to ever wanna leave this business. And so I think if there\u2019s a learning in that, you know, sometimes you have to take a chance, sometimes you have to move out of your comfort zone, and know a really good opportunity when it comes along. I think, for me, while I did debate it, was it smart to leave the industry I\u2019d invested a lot of time in? You know, I sort of ultimately concluded you don\u2019t get opportunities like that very often where a new CEO asks you to be part of building something. So, yeah, I would say that was sort of a game changing career decision for me.<\/p>\n<p class=\"p1\"><b>Sandy:<\/b> I think it worked out well.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p class=\"p1\"><b>Chris:<\/b> Yes.<\/p>\n<p class=\"p1\"><b>Sandy:<\/b> What advice would you give to somebody looking to get into the financial services or the insurance industry?<\/p>\n<p class=\"p1\"><b>Chris:<\/b> The first one would be do it. I mean, I\u2019ve talked about this before. It\u2019s an awesome industry. You know, if you think about it, we don\u2019t need two years to retool a factory when we come up with a new idea or a new product so it\u2019s incredibly innovative industry. The long-term supply and demand dynamics are fantastic. People are just dying for advice and guidance. They\u2019re dying for some form of guarantees in a world that\u2019s pretty uncertain. And the supply is still fairly limited so I think there\u2019s some great career opportunities in this business. And then the other is, you know, a little bit of what we\u2019ve just talked about, be open-minded. Don\u2019t define your career as the next vertical promotion. Sometimes, it\u2019s a move sideways. Sometimes, it\u2019s taking a chance and moving in a different direction. So, you know, I think if you\u2019re intellectually curious and you\u2019re not afraid to work hard and kind of a creative person, it\u2019s a wide open field.<\/p>\n<p class=\"p1\"><b>Sandy:<\/b> With all the disruption in the industry and in the world, what keeps you up at night?<\/p>\n<p class=\"p1\"><b>Chris:<\/b> Yeah, I think the biggest one is the one we talked about before, it\u2019s culture, meaning, you know, we pride ourselves on our culture. People love being at F&amp;G, they tell it\u2019s the number one reason they joined us, that\u2019s the number one reason they stay, far ahead of comp and benefits and all the other things that you need to be competitive in these days. But, you know, we all know that can be fleeting. So I worry about \u2014 we\u2019ve hired a lot of people. Half of our employees joined us during the pandemic. That\u2019s a pretty crazy stat. So I think we\u2019ve hired great people. In fact, I know we\u2019ve hired great people, but it\u2019s a weird environment now. You know, everybody\u2019s not in the office every single day and so this is what I spend probably the most time with my management team on is, really, what are we doing to foster culture? How are we encouraging people to get together periodically but not force them all back into the office every day? Because I think we know that\u2019s not a winning formula. So that\u2019s really the big one. I think we continue to get that right, continue to have a great culture and a company where people really enjoy coming to work. We\u2019ll figure the rest of it out.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p class=\"p1\"><b>Sandy:<\/b> In regards to your culture, how is F&amp;G working with diversity and inclusion with all those new hires that you have coming on?<\/p>\n<p class=\"p1\"><b>Chris:<\/b> Yeah, it\u2019s something that I\u2019m probably most proud of and I told our board this. We\u2019ve gone literally in the last year from about 33 percent of our officers, which we define as VPs and above, being women to 43, so not quite half where it should be, if reflected population factor, I think it should be 52% female, but big progress there so we\u2019re quite proud of that. And then, similarly, people of color has gone from I wanna say 16 percent to 20 or something along those lines. And I think you have to view it as an opportunity, which it is, right? I mean, today, America is more diverse so if you\u2019re trying to be successful in any of these markets, you need to have perspectives from all over the country and different types of backgrounds. And then the other thing that I would say is, as you know, it\u2019s a lot more than just representation. It\u2019s diversity of thought. It\u2019s perspective. Can you create an environment where people can respectfully disagree? You know, that\u2019s becoming increasingly challenging in our country but I think we\u2019ve done a good job of that at F&amp;G. So, yeah, I think if you want the very best talent, you gotta cast a wide net and then you have to ask yourself, \u201cAre we doing the things we need to do where everybody sees a fair opportunity to succeed at the company?\u201d<\/p>\n<p class=\"p1\"><b>Kevin:<\/b> Chris, thank you for your time today. It\u2019s been great to hear your thoughts on how carriers can stay relevant and the opportunities you see in the industry for the next few years.<\/p>\n<p class=\"p1\"><b>Chris:<\/b> Well, thanks for having me, Kevin and Sandy, really appreciate it.<\/p>\n<p class=\"p1\">(outro)<\/p>\n<p class=\"p1\"><i>Thank you for listening. Please make sure to subscribe and share so we can stay in touch. If you would like to learn more about how Global Corporate Solutions and Global Corporate Leaders can help your organization recruit the best talent, increase your diversity, and save money, please visit our website at www.thegclgroup.com.<\/i><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In this episode of Beyond the Challenge, we talked with Chris Blunt, President, and CEO, at F&amp;G Annuities and Life, about the trends, challenges, and opportunities he sees for the Insurance industry. Chris Blunt joined F&amp;G in 2019 after 33 years in a variety of insurance, investment management and wealth management roles. Most recently, he [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":631,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-563","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-podcasts"],"_links":{"self":[{"href":"https:\/\/thegclgroup.com\/gclgcs2021\/wp-json\/wp\/v2\/posts\/563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thegclgroup.com\/gclgcs2021\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thegclgroup.com\/gclgcs2021\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thegclgroup.com\/gclgcs2021\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thegclgroup.com\/gclgcs2021\/wp-json\/wp\/v2\/comments?post=563"}],"version-history":[{"count":2,"href":"https:\/\/thegclgroup.com\/gclgcs2021\/wp-json\/wp\/v2\/posts\/563\/revisions"}],"predecessor-version":[{"id":567,"href":"https:\/\/thegclgroup.com\/gclgcs2021\/wp-json\/wp\/v2\/posts\/563\/revisions\/567"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thegclgroup.com\/gclgcs2021\/wp-json\/wp\/v2\/media\/631"}],"wp:attachment":[{"href":"https:\/\/thegclgroup.com\/gclgcs2021\/wp-json\/wp\/v2\/media?parent=563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thegclgroup.com\/gclgcs2021\/wp-json\/wp\/v2\/categories?post=563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thegclgroup.com\/gclgcs2021\/wp-json\/wp\/v2\/tags?post=563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}