Researchers analysed land temperatures from all over the world and...
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Unauthorised transaction due to third party breach: Bank customer has zero liability, says HC
A division bench of Justices Girish Kulkarni and Firdosh Pooniwalla...
GI Council to develop a tech platform auto-generating jobs seamlessly to surveyors for retail claims: IRDAI
The system should be developed in such a manner that whenever a...
Alamelu Panel favours setting up of a Loss Prevention body for the general insurance industry, will aid reduction of premiums
The panel has suggested that the proposed company should be promoted by the IRDAI as well as the industry.
The company may start working on promoting safety and loss prevention in the areas of Property Insurance and motor Insurance to begin with and can expand into all areas of general insurance as well as health insurance in the future.
`The existing loss control practices of the insurers are incidental to the primary function of underwriting. Needless to state reducing the frequency and severity of losses would benefit both insurers and insureds, as the overall burning cost and consequently the premium rate would come down;,said the report prepared by the working group..
Sweden set to become world’s first cashless society: GlobalData
Ravi Sharma, Retail Banking Analyst GlobalData’s, comments: “Contactless payments in Sweden is already growing at a faster pace, with Swedes increasingly making contactless payments in shops, restaurants and cafes. As a result of the pandemic, its usage is expected to become even more popular. The growing acceptance of contactless payments will support the adoption and use of NFC-enabled mobile wallet solutions, such as Apple Pay and Google Pay.”
China’s CATL is developing new EV battery with no nickel, cobalt, executive says
The new battery type will be different from existing NCA, NCM and LFP batteries and will have no expensive metals like nickel or cobalt, Meng Xiangfeng, a senior executive at CATL, told an industry conference held by the China Association of Automobile Manufacturers in Shanghai.
Trump says he is considering pardon for leaker Edward Snowden
Some civil libertarians have praised Snowden for revealing the extraordinary scope of America’s digital espionage operations including domestic spying programs that senior U.S. officials had publicly insisted did not exist.
But such a move would horrify many in the U.S. intelligence community, some of whose most important secrets were exposed. Trump has harshly criticized past leaders of the U.S. intelligence community and FBI, and on Thursday took aim at the bureau’s current director Christopher Wray, his own appointee.
Milagrow expects 15-20-fold growth in robot sales in FY21 due to Covid-19
The company has its own assembly plant in Gurgaon. Milagrow has provided robots to hospitals like AIIMS, Medanta etc during the lockdown period.
The robotic floor cleaners identify dirt on their own, clean them and move back to their charging point on their own if their battery level goes down.
Prudential Thailand deploys Munich Re’s digital solution, customers can avail real-time underwriting decisions
Pasalaree Theerasas, Chief Customer Officer, Prudential Thailand, said,“The automated solution shortens the turnaround time for underwriting decisions compared with the traditional process, and reduces the time spent by applicants in answering unnecessary or repetitive health questions and providing medical documents. ”
Digital and new business capabilities driving modernisation of life insurers: Novarica CIO Study
“For 60% of insurers surveyed, improving digital and new business capabilities stand out as the key drivers for modernization, followed by improvements in productivity to allow faster and more fluid underwriting processes and workflows,” said Tom Benton, Vice President of Research and Consulting at Novarica
UK trials new COVID-19 smartphone app, includes Indian language versions
The new app is part of the UK’s National Health Service (NHS) Test and Trace service Test and Trace programme and is being overseen by Indian-origin techie Randeep Sidhu as Head of Product.
Facebook removes 7 mn posts for sharing false information on Covid-19
The world’s biggest social media company removed about 22.5 million posts containing hate speech on its flagship app in the second quarter, up from 9.6 million in the first quarter. It also deleted 8.7 million posts connected to extremist organizations, compared with 6.3 million in the prior period.
Facebook said it relied more heavily on automation technology for reviewing content during the months of April, May and June as it had fewer reviewers at its offices due to the Covid-19 pandemic.
Electric carmakers seek out blank-check firms for funding as virus spooks private markets
Electric commercial truck maker Nikola Corp NKLA.O of Phoenix, Arizona, tried unsuccessfully to raise $1 billion (766 million pounds) in the private markets and only turned to a merger with a so-called blank-check company to go public as a way to raise the needed...