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Quarterly global InsurTech fundraising trend slashed by over 50%, COVID-19 a likely culprit:Willis Towers Watson
InsurTechs raised a total of US$912 million during the first three months of 2020.Deal count, at 96, was up 28% over Q4 2019, 10% more than the first quarter of that year. It is the highest number of investment rounds by transactional volume ever recorded by the Quarterly InsurTech Briefing.Overall total funding was down by 54 percent, however, reflecting in part far fewer ‘mega-deals’ (US$100 million-plus deals) taking place in the year so far.
Online car sales may gain traction post COVID-19, auto retail needs to become virtual: EY
The Indian customer’s views and behaviour towards an online car purchase platform is only going to evolve. Indian OEMs and car aggregators can take a cue from global players and gradually develop their capabilities to support this transformation. Globally, OEMs like BMW, Peugeot, Hyundai and Volvo have successfully deployed almost contactless online sales, it added.
AXA XL launches Remote Risk Dialogue, a virtual risk assessment
Speaking about the new service, Corinne Vitrac, Chief Executive of AXA XL Risk Consulting, said: “With restrictions on delivering surveys and carrying out client visits globally, we’ve had to think of new ways of supporting our clients to manage their risks.”
Most Indian professionals believe right connections key to career growth: Report
This vast difference between awareness and action suggests that while young professionals in India aspire for stronger networks, they lack necessary direction and guidance to build these networks, it added.
BSE puts in place penalty structure for non-submission of cyber security report
Non-submission of the report after three months will attract disablement of trading terminals across segments after giving two weeks’ notice, the exchange said.
BSE, further, said “disablement notice issued to the member would be shared with all the exchanges for information” and member will be enabled only after submission of the report.
Govt extends easier ‘work from home’ connectivity norms for IT, BPO firms Jul 31
Industry body Nasscom said the decision to extend the timelines on relaxed norms for other service providers (OSPs) to facilitate ‘work from home’ will help IT and BPO firms plan their strategy of bringing back workforce to offices, in a gradual and phased manner.
Aarogya Setu app crosses 75 million downloads
Minister of State for Electronics and IT Sanjay Dhotre has asked the services of common service centres for providing telemedicine services, especially in remote parts, during this moment of crisis, as it will bring a much-needed relief to people who are finding difficulty in accessing medical services during this lockdown.
Robots are playing many roles in the coronavirus crisis – and offering lessons for future disasters
Research laboratories and startups are creating new robots, including one designed to allow health care workers to remotely take blood samples and perform mouth swabs. These prototypes are unlikely to make a difference now. However, the robots under development could make a difference in future disasters if momentum for robotics research continues.
Facebook invests $5.7 billion in Reliance unit to reach small Indian grocers
Facebook co-founder and CEO Mark Zuckerberg said, “India is home to the largest communities on Facebook and WhatsApp, and a lot of talented entrepreneurs. The country is in the middle of a major digital transformation and organizations like Jio have played a big part in getting hundreds of millions of Indian people and small businesses online.”
Virus upends outsourcing as firms ‘Reshore’, Embrace AI
But the bigger lasting change from the pandemic will likely involve the wider use of artificial intelligence to handle tasks currently performed by human beings, experts said.
“AI doesn’t go on strike, it can work 24/7 and throws up fewer complications,” said Michael Czinkota, who teaches international business at Washington’s Georgetown University.