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Gibraltar Japan partners with Munich Re to improve underwriting experience for customers

Seigo Nakano, CIO at Gibraltar Life added: “We have seen an enormous change in the Japanese life insurance market in the past 10 years with the majority of large life insurance firms introducing automated underwriting.
Hiroko Izumisawa, Corporate Vice President at Gibraltar also added: “Our partnership with Munich Re, Japan Branch, allowed us to develop a comprehensive underwriting rule-set which covers over 270 risk factors. It enables us to automatically assess 85% of applications while digitally capturing all application data. We’ve been utilizing the underwriting engine for a couple of months, and so far, customers are reacting favorably to the enhanced application process.”

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HC issues notices to Centre, Maha over PIL claiming Truecaller breached data privacy norms

“The Truecaller app collects data of all users. It shares such data with some of its partners without the consent of users, and dumps the liability on the user,” the petitioner told the court.

“This is a manipulative set up because the user has no choice. The app also registers users for a Unified Payments Interface service without their consent, or without due process,” alleged Shashank Posture who had filed the PIL.

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New Zealand gov’t to establish consumer data right

“Any data shared through the consumer data right will only take place with a person’s informed consent and would be strictly used for the reasons agreed upon. For example, if a person was seeking financial advice, they could ask their bank to share data, such as transaction information, with their chosen adviser,” New Zealand, Commerce and Consumer Affairs Minister David Clark said.

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Twitter loses immunity over user-generated content in India

India’s IT ministry told the High Court in New Delhi that Twitter’s non-compliance amounted to a breach of the provisions of the IT Act, causing the U.S. firm to lose its immunity, according to the filing dated July 5. The filing came in a case filed by a Twitter user who wanted to complain about some allegedly defamatory tweets on the platform, and said the company was not complying with the new law that requires appointment of certain new executives.

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Unveiling its last petrol car, Lotus sets off in pursuit of Porsche

The Emira, which will start at around 60,000 pounds ($83,000), is the first new petrol Lotus model in more than a decade but it will be the last powered by fossil fuels.
Lotus is currently developing an electric sports car platform in partnership with Renault for the French company’s Alpine brand, and that framework will also be available to other carmakers.
Lotus and its Chinese owner Geely want to transform what is now a tiny company making some 1,500 sports cars a year into an electric powerhouse churning out tens of thousands of high-end saloons and sports-utility vehicles (SUVs) as well.

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