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DPDP rules in monsoon session of Parliament, Digital entities to get 2-yrs to comply: Vaishnaw
"We have also kept graded punishments to protect the interests of...
Consent management, localisation, parental nod for kids on social media in focus: Experts on DPDP
"We foresee that businesses will face some complex challenges in...
Total market cap of listed InsurTechs surpasses $22 billion in 2020:Capgemini Report
For the first time, 50% of customers today are willing to consider coverage from a new age player.
“As traditional insurers expand their ecosystems to remain competitive, they must increasingly consider the value achievable through trusted partners, including BigTechs, InsurTechs and non-traditional players like original equipment manufacturer (OEMs). The numbers clearly suggest that exponential InsurTech growth is here to stay, so delivering superior customer CARE(Convenience, Advice and Reach) is essential. Future success in the industry will depend on players’ existing capabilities across the value chain, willingness to invest, and desire to own the customer relationship,” said John Berry, CEO of Efma.
Allianz Partners expands its Digital Health Assistant to ten markets in Asia-Pacific
“We are very excited to bring Digital Health Assistant to our customers and partners in the Asia-Pacific region. Allianz Partners’ focus on accelerating its Digital Access to Care initiatives comes at a time of increasing demand for telehealth solutions and comprehensive digital health services particularly in the context of the ongoing Pandemic. We’ve reached a new milestone in bringing peace of mind and reassurance to our customers with this all-in-one platform. Allianz Partners will continue to invest in bringing market leading health and mental wellbeing solutions to support our customers and communities,” comments Vinay Surana, CEO Asia Pacific, Allianz Partners.
Sold electric scooters worth over Rs 600 cr in a day: Ola co-founder
Ola Electric had opened pre-launch bookings of its electric scooters in July for Rs 499 and had received 1 lakh orders in just 24 hours. However, the company has not disclosed how many orders it has received so far.
Ola is setting up a manufacturing plant, spread across 500 acres, in Tamil Nadu with an investment of Rs 2,400 crore.
The company had stated that it would initially start with 10 lakh annual production capacity and then scale it up to 20 lakh, in line with market demand, in the first phase.
SoftBank CEO Son says smart robots can revitalise Japan growth, competitiveness
The SoftBank founder now sees a future with “smart robots that will replace not just the manufacturing, industrial working population, but the entire working population.”
Cabinet clears auto PLI scheme for EVs, hydrogen fuel cell vehicles
This PLI scheme for automotive sector along with the already launched PLI scheme for Advanced Chemistry Cell (Rs 18,100 crore) and Faster Adaption of Manufacturing of Electric Vehicles (Rs 10,000 crore) will enable India to leapfrog from traditional fossil fuel-based automobile transportation system to environmentally cleaner, sustainable, advanced and more efficient Electric Vehicles (EV) based system.
India reported 11.8% rise in cyber crime in 2020; 578 incidents of ‘fake news on social media’: NCRB Data
In terms of motive, the maximum 60.2 per cent cyber crimes lodged in 2020 were done for fraud (30,142 out of 50,035 cases), the NCRB, which functions under the Ministry of Home Affairs, stated.
India top source of social media misinformation on COVID-19: Study
The study, “Prevalence and Source Analysis of COVID-19 Misinformation in 138 Countries”, was published in Sage’s International Federation of Library Associations and Institutions journal.
“Social media (84.94 per cent) produces the largest amount of misinformation, and the internet (90.5 per cent) as a whole is responsible for most of the COVID-19 misinformation. Moreover, Facebook alone produces 66.87 per cent of the misinformation among all social media platforms,” it stated.
Earlier, the World Health Organisation had also warned that false information on COVID-19 is spreading and putting people in danger.
Uber drivers are employees, not contractors, says Dutch court
The Amsterdam District Court sided with the Federation of Dutch Trade Unions, which had argued that Uber’s roughly 4,000 drivers in the capital are in fact employees of a taxi company and should be granted benefits in line with the taxi sector.
Australian media outlets liable for Facebook comments, court finds
“The acts of the (media companies) in facilitating, encouraging and thereby assisting the posting of comments by the third-party Facebook users rendered them publishers of those comments,” Justice Rothman found.
At the time the comments were published, Facebook did not allow page moderators to turn off comments on posts, however it has changed that.
IRDAI’s move to risk policyholder’s data privacy, create data monopoly: Experts
While it is understandable that insurers have to share policyholder information with authorities/agencies specified by law or due to operation of law, experts question the need to share the same with IIB.
“Insurers can share the generic data relating to premium, claims — genuine and fraud — and other commercial aspects with IIB so that it can prepare its analytical reports for the industry to use. But why should policyholder information be shared with IIB,” wonders an industry official preferring anonymity.