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European regulator says it would pull Boeing approval if needed
European Union Aviation Safety Agency's (EASA) acting executive...
Govt forms VK Paul panel to review Ayushman Bharat scheme
The National Health Authority(NHA), implementing agency of the...
IFC led investors infuse USD 22 mn in Murthy’s Coverfox
“India has one of the most underpenetrated insurance markets, with low penetration rates for women and rural populations. By investing in Coverfox, IFC is giving a push to the country’s digitization agenda by leveraging technology to deliver insurance products to customers outside metros and to women who are currently underserved,” said Jun Zhang, IFC Country Head for India
Toyota Plans to Sell Talking Cars in U.S. Within 3 Years
Talking vehicles, which have been tested in pilot projects and by U.S. carmakers for more than a decade, use dedicated short-range communications to transmit data up to 300 meters, including location, direction and speed, to nearby vehicles.
Leading Indian life insurers partner with Cognizant to develop industry-wide Blockchain solution
“Blockchain has the potential to catalyze a significant shift in the insurance industry’s underlying technology and business models,” said Anand Pejawar, President — Operations, IT & International Business, SBI Life.
Chatbots can change the customer service business
From the enterprise point of view, chatbots are relatively much cheaper than mobile apps, and are adaptable for various messaging platforms. Today, the cost-effectiveness of customer service is measured in terms of the ability to reduce the number of customer calls and average handling time, while in case of chatbots, the additional cost of handling more conversations and higher handling time is negligible.
InsurTech M&As in Asia surge to US$460 million in 2017, three times that of 2016: Willis Study
Turning to specific markets, China and India, home to much of the innovation in InsurTech, accounted for a significant 73% of transactions in 2017. Hong Kong, Singapore and other Asia markets continued to build on the momentum from 2016 and accounted for 27% of the transactions, representing a much more conspicuous contribution than in 2015 when they only amounted to 4% of the regional sum.
Root Insurance Closes $51 Million Investment to Expand Customized Auto Insurance
Root is a full-stack automobile insurance company founded on the principle of fundamental fairness. While most car insurance companies rely solely on demographic data like age, occupation and credit score to set rates,
B3i founders form blockchain startup
B3i Services AG’s purpose is to provide insurance solutions on a blockchain platform that substantially improves efficiency across the value chain of the re/insurance industry — in some cases up to 30 percent. These innovative solutions benefit both insurance companies and customers through improved speed, transparency, quality, security, and cost.
Facebook User Sues Over Personal Data Release to Cambridge Analytica
Price seeks damages for all U.S. Facebook users whose information was harvested without authorization, and asserts claims of negligence and violations of California unfair competition laws.
Robots can be risky,Allianz
AI-based applications will increase vulnerability of businesses to cyber-attacks and technical failure, leading to larger-scale disruption and loss scenarios
•Companies face liability challenges as responsibility shifts from human to machine and manufacturer. New framework needed to manage rise in AI-generated damages
•Risk management can help maximize the net benefits of AI. Five areas are crucial for identifying threats: software accessibility, safety, accountability, liability and ethics
• Insurance industry is an early adopter of AI applications to automate repetitive processes, boost risk analysis and improve customer interaction
67 per cent Indian businesses hit by ransomware, 38 per cent twice: Sophos
While $13.74 million were spent by three per cent of the organisations worldwide to rectify the impact of ransomware, India’s share remained the highest at $1.17 million, said global cybersecurity leader Sophos