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Pay-per-part: TRUMPF and Munich Re plan new business model for the manufacturing industry
The jointly developed “pay-per-part model” enables customers to use a full-service laser machine without having to buy or lease any equipment.Instead, customers pay a previously agreed price for each cut sheet metal part – in other words, they only pay for what they need. This allows customers to make their production processes more flexible and react faster to market changes.
“The cooperation with TRUMPF is an outstanding example of how the combination of Munich Re Group’s various offerings – risk solutions, IoT technology and financing – makes it possible to develop innovative business models for the industry. We are convinced that such partnerships represent a forward-looking response to the challenges of an increasingly dynamic market environment,” said Torsten Jeworrek,Member of the Board of Management
Worried European nations revive curfews, lockdowns amid ‘exponential growth’ in virus
Most European governments eased lockdowns over the summer to start reviving economies already battered by the first wave of the coronavirus pandemic.
But the return of normal activity – from packed restaurants to new university terms – fuelled a sharp spike in cases all over the continent.
Climate Change means more Weather Disasters every year
The 2020 State of Climate Services report, compiled by 16 international agencies and financing institutions, calls on governments to put more money into early-warning systems that can improve countries’ ability to prepare for, respond to and mitigate the impact of such natural disasters.
“While COVID-19 generated a large international health and economic crisis from which it will take years to recover, it is crucial to remember that climate change will continue to pose an on-going and increasing threat to human lives, ecosystems, economies and societies for centuries to come,“ said WMO Secretary-General Petteri Taalas.
India joins UK-led campaign against encrypted social media messages
The UK and India are joined by the US, Canada, Australia, New Zealand and Japan in a joint international statement addressed to all tech companies to ensure they do not blind themselves to illegal activity on their platforms, including child abuse images.
World economy in deep recession in 2020, growth to be -4.4%: IMF
Gopinath said for emerging market and developing countries, excluding China, IMF has a downgrade with growth projected to be – 5.7 percent in 2020 and then a recovery to 5 percent in 2021.
With this, the cumulative growth in per capita income for emerging-market and developing economies, excluding China, over 2020-21 is projected to be lower than that for advanced economies, she said.
Gopinath said that the considerable global fiscal support of close to $12 trillion and the extensive rate cuts, liquidity injections, and asset purchases by central banks helped save lives and livelihoods and prevented a financial catastrophe.
Norway says Russia behind cyber attack against its parliament
“Based on the information available to the government, it is our assessment that Russia stood behind this activity,” Ine Eriksen Soereide said in a statement.
Lloyd’s headquarters to be transformed into a workplace for the future:CEO
“The Lloyd’s building is almost 35 years old, so how can it be the right environment for the market to operate?For the first time, we have both a virtual capability and a real capability operating simultaneously at Lloyd’s. We’ve also set some ideas on the table to metaphorically rip up the underwriting room and decide what it should look like in the 21st century, and what the marketplace should look like in the 21st century,” said Neal while speaking at a Virtual Reinsurance Renewal Season fireside chats.hosted by Dominic Christian, global chairman of Aon’s Reinsurance Solutions,
Asia Pacific health care benefit cost expected to jump by 8.5% in 2021, Willis Towers Watson survey
The 2021 Global Medical Trends Survey, the largest of its kind, found that medical insurers in APAC project health care benefit costs will take a sudden drop in 2020 before rebounding to 8.5% in 2021, up from 6.2% this year and 7.5% in 2019.
Markets including China (9.3%), India (10%), Indonesia (12%), Malaysia (12.5%), New Zealand (20%), Philippines (8.8%), Singapore (8.2%), Thailand (8%) and Vietnam (10.2%) will see an increase in excess of 8% next year.
According to the study, cancer (79%), cardiovascular diseases (76%), and conditions affecting musculoskeletal and connective tissue (42%) are the top three conditions currently affecting medical costs in APAC, with cancer and cardiovascular diseases expected to remain so in the near future.
Asia-Pacific countries begin to ease pandemic-related travel bans, but hurdles remain
For now, few people are likely to travel because of testing and insurance requirements, and in some cases the need to quarantine upon return home, meaning the deals offer limited hope for airlines and the tourism industry.
A Singapore-Indonesia deal announced on Monday for essential business and official travel will require an application and COVID-19 swab tests both before and after travel.
Solar the new ‘king of electricity’ as renewables make up bigger slice of supply: IEA
Despite the increase in solar and wind power, carbon emissions are projected to pick up in 2021 after a 2.4 gigatonne (Gt) drop in 2020, and to exceed 2019 levels in 2027 before growing to 36 Gt in 2030, it added.
The IEA said gaps remain in many cases between long-term ambitions and specific near-term plans to curb emissions.