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Consumer affairs ministry to meet e-commerce firms on May 15 to curb fake online reviews
The draft Quality Control Order(QCO) of Consumer Affairs Ministry...
ICEYE launches Flood Insights and Flood Early Warning for Canada, providing near real-time situational awareness
ICEYE’s Flood Early Warning data is available 96 hours before each...
Your high-tech car could be vulnerable to deadly mass cyberattacks
“Automakers are taking many protective actions, including designing vehicles from the start with security features and adding cybersecurity measures to new and redesigned models.”
Lloyd’s selects 11 Insurtechs to help support its Future-at-Lloyd’s project
The start-ups are focused on finding ways to enhance data sharing and provide new sources of risk insight as well as pricing and risk models to help Lloyd’s market participants better understand threat scenarios. They also will be developing methods to reduce the cost of processing claims as well as the burden of compliance and regulation
New auto safety technology leaves insurers in the dark
According to Swiss Re AG, the world’s largest auto reinsurer, and mapping company HERE, ADAS has the potential to reduce motor accident frequencies by up to 25%, cutting global insurance premiums for fully ADAS-equipped cars by $20 billion by 2020.
GST slashed for EVs to 5% from 12%, will be effective from 1st August
India has put in place a game plan for electric vehicles (EV) and its components like batteries to ensure clean cities, reduce imports and utilise solar power, NITI Aayog CEO Amitabh Kant said on Saturday
SoftBank’s Masayoshi Son forms $108-billion Vision Fund 2 with Apple, Microsoft
Son wants to raise a new massive fund every two or three years to take advantage of opportunities he sees in cutting-edge technologies such as artificial intelligence and autonomous driving.
Australia to police Facebook, Google with new watchdog office to protect privacy
Australian Treasurer Josh Frydenberg said the $5 billion fine slapped on Facebook in the United States this month for privacy breaches showed regulators were now taking such issues extremely seriously.
“These companies are among the most powerful and valuable in the world,” Frydenberg told reporters in Sydney after the release of a much-anticipated report on future regulation of the dominant digital platforms.
SAP and Swiss Re expands its joint co-innovation initiative for financial reporting
Our close partnership with Swiss Re has helped us create an exceptional customer experience across the insurance and financial sectors,” said Luka Mucic, SAP CFO and member of the Executive Board of SAP SE.
US home insurance leader Hippo Insurance raises $100 million
Hippo is building faster, more accurate and more affordable homeowners insurance for today’s customers. The company’s data-driven pricing and real-time underwriting analyzes trusted public data sets, from municipal building records to satellite imagery of physical property characteristics, to develop a more accurate profile of a customer’s property, resulting in qualified customers receiving a comprehensive, tailored and accurate quote in under 60 seconds, and reduced premium costs of up to 25 percent
InsurTech investment buoyant in Q2, 2019:Willis Towers Watson
69 deals with a total value of $1.41 billion were announced in Q2, 2019. The value of investments in property/casualty-focussed firms rose by 283% compared to Q2, 2018, and Life & Health deals by 259%. The number of strategic investments by (re)insurers hit a record high of 36.
U.S. slaps $5 billion fine against Facebook, other privacy settlement terms
“Despite repeated promises to its billions of users worldwide that they could control how personal information is shared Facebook undermined consumers’ choices,” said FTC Chairman Joe Simons, a Republican, in a statement.