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Carrot and Luxboro Launch IoT Joint Venture - PR Newswire APAC

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Carrot ("Carrot" or the "Company") and Luxrobo announced today the establishment of a Joint Venture (JV) that brings together two premier tech companies from the field of digital insurance and IoT-technology. Together they operate as Lucky Box Solutions Inc. to deliver the most optimized IoT systems and telematics devices while positioning itself as the leader of InsurTech, industry that has become the noise of the town in recent years. Both companies have established proven track records of providing innovation in emerging sectors and are poised to offer cutting-edge solutions in the areas of Artificial Intelligence, Machine Learning, Data Interoperability, Analytics and Processing, and Internet of Things while providing risk prevention and insurance protection services. Carrot has made a name for itself over the past few years by providing modernized insurance service to the consumers of South Korea with its customer-centered design of Pay-Per-Mile auto insurance product. As seen with its top-tier customer retention, customers are highly praising for its fair and transparent pricing, month-end payment term, IoT-driven emergency and other value-added services, and cash incentive program that rewards customers based on their safe-driving scores.


Talking Ethical AI with Artivatic's Layak Singh

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Founded in 2018, Bengaluru-based Artivatic AI uses AI to assist insurance companies in building personalised risk profiles of customers, track and understand their financial and behavioural journeys, and develop real-time intelligence based on those patterns. "InsurTech is a specialised branch of fintech earmarked for insurance use cases by leveraging forever-evolving AI capabilities and mining multi-source big data via ML algorithms to acquire better insights of our users and offer the best advice and analysis. Artivatic is an AI firm, and we're streamlining insurance and healthcare as our basic model via insurance tools," said Layak Singh, CEO of Artivatic AI. In an exclusive interview with Analytics India Magazine, Layak spoke about how the firm embeds ethics into its AI systems. Layak Singh: Artivatic has gone beyond that requirement of servicing only clients to actually offering 360-degree support to all of our stakeholders, from insurance providers and TPAs to agents, underwriters, users, and any other peripheral ones.


AI and data analytics redefining future of health care in UAE

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This blog post was written by Dr. Maryam S. Jaffer, Director Data and Statistics, Emirates Health Services; Dr. Bashar Balish, Senior Director, Cerner; and Michel Ghorayeb, UAE Managing Director, SAS. The future of health care has never been more exciting. Artificial intelligence (AI) and data analytics have captured center stage for any business planning on surviving and thriving. Given the pace of technological development, AI is transforming the future on an unprecedented scale. And that includes the future of health care.


Japan to strengthen fertility treatment consultation system

The Japan Times

Japan will strengthen its consultation system for fertility treatment as its public health insurance program starts covering such treatment in April. The health ministry plans to integrate related public consultation windows under a single system. The new facilities will help people with specialist advice and provide emotional support to women who feel anxious. In the fiscal 2022 revision of official medical fees, the public insurance coverage will be extended to fertility treatment such as in vitro fertilization and artificial insemination as part of efforts to shore up the country's falling birthrate. Thanks to this, costs of fertility treatment that have been fully paid by patients will be limited to 30% in principle.


Your CEO Needs To Really Get AI

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For a forthcoming book with Nitin Mittal of Deloitte, I've been researching companies that are "All In on AI," as the book will be titled. These are companies who have made substantial and long-term bets on the notion that AI will revolutionize the way they do business. In several of the companies, the CEOs have been heavily engaged in the AI-driven transformation process. One of them is Piyush Gupta, the CEO of Singapore-based DBS Bank, whom I have written about elsewhere as an AI leader. Another is Peter Ma, the founder and chairman of Ping An, which is the largest private-sector firm in China.


Fintech lender Lendai raises $35M for AI-based platform to enable foreign investors to buy US real estate

ZDNet

Financial technology startup firm Lendai announced Wednesday that it has raised $35 million in equity and debt seed funding. The purpose of the company is to enable foreign, non-residential borrowers investing in US real estate properties the ability to access immediate financing and competitive rates using its AI-based Triple Digital Underwriting System platform – making the underwriting process fast, easy and efficient. According to the company's announcement on Wednesday, this early round of financing is led jointly by Meron Capital and Cardumen Capital, with underwriting help from Discount Capital, Skywell Capital Partners, Mindset Ventures, and Viola Credit. Proceeds from the seed financing will enable Lendai to expand its reach and to help level the playing field for foreign investors who want to invest in US residential real estate properties. Concurrently, Lendai will use the seed funding to expand its services to more US states and launch new financing loan programs.


Your CEO Needs To Really Get AI

#artificialintelligence

For a forthcoming book with Nitin Mittal of Deloitte, I've been researching companies that are "All In on AI," as the book will be titled. These are companies who have made substantial and long-term bets on the notion that AI will revolutionize the way they do business. In several of the companies, the CEOs have been heavily engaged in the AI-driven transformation process. One of them is Piyush Gupta, the CEO of Singapore-based DBS Bank, whom I have written about elsewhere as an AI leader. Another is Peter Ma, the founder and chairman of Ping An, which is the largest private-sector firm in China. Ping An makes extensive use of AI to drive its five ecosystems, and my sources tell me that Ma is heavily involved in the decisions around the technology.


Discovering the top 23 InsurTech unicorns - Alchemy Crew

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While the insurance industry has struggled with adopting new digital paths, insurance companies have noticed the growth of highly digitized new market entrants, some of which they may want to emulate. However, as we have seen from past experiences, the copycat approach is often the least successful as only tested breakthrough ideas can yield high financial returns. In just 6 years and despite the pandemic, InsurTech startups are now counting at least 23 well-known unicorn startups within their ranks or insurance companies with a billion-dollar valuation. These digital insurers and service providers use digital technologies to design, deliver, and price insurance offers uniquely. We estimate that the total valuation of our selected 23 companies today represents over $60 billion in valuation within an 850 strong global portfolio worth $2.4 Trillion.


Rural India focused Insurtech startup Insuremile raises pre-seed funding led by Seeders VC - CIO News

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India, February 15, 2022: Insuremile, India's first rural India focused financial protection marketplace, has raised Pre-Seed funding of $350k with an aim to take insurance services to the hinterland while empowering over 200 million gig-workforce in the country to be part of this success story. The funding round was led by Seeders, an early-stage angel group. Parthiv Neotia, Director, Ambuja Neotia Group and Abhishek Rungta, CEO, Indus Net Technologies from Seeders led this funding round. Mallesh Reddy, Co-Founder, Insuremile said, ''India's gig economy comprising more than 200 million workforces generates significant traction across various industries. At Insuremile, our vision is to provide these gig workers with targeted insurance products aiming at financial security.


AI opens the door to faster claims for home insurance - TechHQ

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Insurance technology brings in more innovative solutions for homeowners and insurers thanks to artificial intelligence (AI). AI is disrupting the industry by allowing for faster and more user-friendly claims and creating more transparent and customized policies that suit the client's situation. This replaces the traditionally long and painful process of getting a claim or settling for a one-size-fits-all property insurance policy. AI Property from Tractable, for example, allows anyone with a smartphone to access damage quickly and efficiently to buildings caused by hurricanes, floods, and other natural disasters. Use its mobile-friendly web-based app to take photos of the external conditions and submit them to Tractable's AI platform, trained on an extensive database of claims and damaged property.