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Generative AI could boost bank revenues by 6 pc in next three years: Accenture
The report also delved into the transformational effect of...
Self-driving trucks could become reality despite doubts from safety advocates
Within three or four years, Aurora and its competitors expect to...
Boeing CEO concedes ‘mistake’ with planes in 2 fatal crashes
The U.S. Federal Aviation Administration has faulted Boeing for not telling regulators for more than year that a safety indicator in the Max cockpit didn’t work.
Pilots are angry the company didn’t tell them about the new software that’s been implicated in the crashes in Indonesia and Ethiopia that killed 346 people.
ACORD launches solution to digitise insurance lifecycle End-To-End
“The market needs accelerators to help it gain cost savings and efficiencies. ACORD iConductor is a turn-key solution that helps realize these benefits by digitizing the whole insurance lifecycle to streamline, automate, and eliminate inefficiencies.This platform is designed and built to address the current and future scale of the insurance market, and because it’s owned and governed by the industry, its evolution will align with demand for standardized risk exchange,” said Bill Pieroni, President and Chief Executive Officer of ACORD.
Uber, Lyft appeal for deal on driver status as independent contractors
Faced with legislation in California that endangers their business model, Uber Technologies Inc. and Lyft Inc. are urging a compromise that would keep their drivers from being considered employees. “We can make independent work better if we update...
Uber to unveil next-generation Volvo self-driving car
In March 2018, authorities in Arizona suspended Uber’s ability to test its self-driving cars after one of its XC90 cars hit and killed a woman crossing the street at night in the Phoenix suburb of Tempe, Uber’s largest testing hub. The crash was the first death attributed to a self-driving vehicle.
“Tech and cyber dominate insurers’ horizon scanning of business risks”
Urgent need for business and technology modernisation poses the greatest threat to the global insurance industry according to the survey. At the heart of responses was the view that many sector players are weighed down by legacy business models and IT infrastructure that are poorly equipped to handle the changing demands of the industry.
Singapore’s new IP insurance initiative to support innovative enterprises enter global markets
In advanced economies such as the USA, more than 80 per cent of enterprise value of S&P 500 is already in the form of intangible assets. These trends are increasingly driven by Asian economies, with Asian IP filings growing at the compounded average growth rate of 12.7 percent from 2007 to 2017, twice as fast as the rest of the world.
Microsoft launches AI digital labs in India, to train 1.5 lakh students
“As AI becomes mainstream, organisations will require talent with skill sets that are very different from what exist now. Educators and institutions are integral to the skilling revolution taking root in the country,” Microsoft India President Anant Maheshwari said.
UK’s Legal & General Partners with Amazon to Create Blockchain System for Pensions
Blockchain suits “the long-term nature of annuities business as it allows data and transactions to be signed, recorded and maintained in a permanent and secure nature over the lifetime of these contracts, which can span over 50 years,” Thomas Olunloyo, CEO of Legal & General Reinsurance said.
Motorbike Taxi Firms to Offer E-payment, Insurance Services in West Africa
As in Asia, the companies are also looking to turn their ride-hailing apps into one-stop mobile shops offering a host of services from e-payments to deliveries to insurance – the kind of strategy that transformed Indonesia’s Go-Jek into a $10 billion company in less than a decade.
Indian Millennials prefer buying larger Health Cover:Policybazaar
The latest trend of shifting preference towards buying policies with higher sum insured is in sharp contrast to the millennial buying trends five years back, when Rs. 3 lakhs and 2 lakhs were the most sought after health cover marks.