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Be wary of scams as Amazon Prime Day kicks off, experts warn
In updated guidance published last week, the Better Business Bureau...
Google in talks to buy Wiz in $23 billion cyber deal
The acquisition of Wiz could help Google catch up to Microsoft...
Lloyd’s 2nd blueprint targets cost reduction of £800m for brokers, underwriters and business partners
The comprehensive programme and priorities detailed in Blueprint Two will profoundly transform the way in which customers get covered, right though to recovering from loss; this will be achieved by the redesign of the entire insurance lifecycle process – from placement through to accounting, payment, endorsements, claims, renewals and reporting – offering a seamless digital service for all Lloyd’s customers and stakeholders globally.
WhatsApp gets approval to launch payments feature in India
“Now you can send money to your friends and family through WhatsApp as easily as sending a message. There’s no fee, and it’s supported by more than 140 banks. And because it’s WhatsApp, it’s secure and private too,” said Facebook CEO Mark Zuckerberg .
“WhatsApp can expand its Unified Payments Interface (UPI) user base in a graded manner starting with a maximum registered user base of 20 million,” the National Payments Corporation of India (NPCI) said in a statement.
Online transactions, lending and e-wallet services have been growing rapidly in India, led by a government push to make the country’s cash-loving merchants and consumers adopt digital payments.
Infosys receives RIMS global ERM Award of Distinction
“We operate in a fast-evolving world, where we and our stakeholders find ourselves in the midst of disruption.Success in times like these require us to take calculated risks so we can move forward in a differentiated and progressive manner. Our enterprise risk management program has evolved to become a strong framework to manage potential threats to our objectives in a proactive manner, and enhance our performance,” said U B Pravin, Member of Board & Chief Operating Officer, Infosys Limited
Technology can make India’s crop insurance scheme profitable:Report
Contributing to the report, the Agricultural Insurance Company of India commented: “With the advent of new concepts in agriculture, the scope for crop / agriculture insurance in India is vast. The main challenge is consistency. The scheme has changed drastically in a very short space of time. Reinsurers believe there is ample opportunity but only if they decide to commit to this product for the longer term and take a long-term view despite the changes.”
Pilot Unions, crash families seek revisions to 737 Max training
A group of dozens of family members and friends of the 157 people who died on an Ethiopian Airlines crash on March 10, 2019, go further, seeking additional design changes and publication of a more detailed training outline.
“The FAA’s proposed update to the 737 Max pilot training requirements is inadequate to rectify Boeing’s history of 737 Max-related failures and insufficient to prepare pilots to safely fly the airplane,” the family group said in its comments, also posted on Monday.
HDFC ERGO implements AI enabled solution to automate motor claims
Parthanil Ghosh, president – Motor Business HDFC ERGO General Insurance said, ” We have implemented the use of AI in one of the most complex process of claim settlement post exhaustive testing and by leveraging the best-in-class technology. At present almost 75% of our physical inspections are assisted through IDEAS tool and have already processed more than 20,000 motor claims with promising accuracy levels. We look to further revolutionize the way claims will be settled in the insurance sector and very soon move towards instant claim settlements for customers, turning their satisfaction into delight.”
There would be significant cyber losses in the next 10 years: Mumenthaler
`There are certain tail risks that are too big, in my view, for the insurance industry to carry. We can carry a certain amount of risk, and we are active in the market, but I think the capacity will run out within the next three years.The shadow of cyber risk still looms large, with bad actors or rogue states capable of launching damaging cyber attacks that could even result in human losses, given our dependence on technology. It’s not a random event. It’s perpetuated by people and on the aggregation side it’s a real challenge,” he explained…
Ransomware attacks surge 40% globally in Q3: Report
While sensors in India, the UK and Germany recorded decreases, the US saw a staggering 145.2 million ransomware hits in Q3 — a 139 per cent year-over-year increase, said the report.
Hackers attack 100 key people to collect intelligence: Microsoft
As always, enabling multi-factor authentication across both business and personal email accounts will successfully thwart most credential harvesting attacks like these, Microsoft said.
UK watchdog fines Marriott 18.4mn pounds over data breach
The personal data involved differed between individuals but may have included names, email addresses, phone numbers, unencrypted passport numbers, arrival/departure information, guests’ VIP status and loyalty programme membership number.