Digital insurance with AI sets the trend in the Insurtech market
12/04/2024Digital insurance, connected and driven by generative Artificial Intelligence (AI), is making a milestone in the Insurtech market, according to a report prepared by the technology consultancy NTT Data. The report, 'Insurtech Global Outlook 2024,' delves into the three waves of innovation that are reshaping the insurance sector and also offers recommendations derived from its main findings. NTT Data experts detail that, after reaching record investment figures in previous years, the sector experienced an adjustment in 2023, reflecting both the bursting of a bubble and a strategic adaptation to new global economic and political realities. Three waves of innovation in digital insurance The NTT Data report identifies "three waves of innovation" in the insurance industry: digital insurance, connected insurance, and generative insurance. The first ones, they explain, mark the entry of Insurtech companies into the market, while connected insurance leads the shift towards proactive prevention strategies and personalized approaches for the client. The latter, generative insurance linked to AI, they add, are helping insurance companies to generate high-impact models in society, while also complying with ethical regulations. In fact, according to this work, cybersecurity and AI emerge as fundamental pillars for the transformation of the sector. The report highlights, for example, an investment of 640 million dollars in cybersecurity, with a growth in the number of transactions and an increasing focus on protection against cyber risks. In addition, artificial intelligence, with investments of over 50 billion dollars, is consolidating, according to the NTT Data report, as a disruptive force, paving the way for revolutionary solutions and business models.
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Skechers
SkechersThe Skechers brand, was created in 1992 in California, and is probably best known by the name under which it was created, L.A. Gear. It was dedicated to sports and casual equipment, as well as backpacks and other practical accessories aimed at the world of sports. Despite its transformation, Skechers is still very popular today, because in its company philosophy it tries to combine the mission of making the American Way of Life accessible to the world of footwear and other sports accessories, and to rely on effective advertising with well-known people, especially in the American market. Headquartered in Manhattan Beach, it is currently the third largest athletic and casual footwear brand in the United States.
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Google accepts the challenge of bringing the Internet to all of Africa
29/10/2021Google has just announced that it's going to invest a billion dollars in improving the internet infrastructure in Africa through the American technology company Alphabet Inc. The project has the ambitious objective of increasing the Internet capacity in Africa 20 times, reducing the average connection price on the continent and increasing the Internet speed five times in this territory, where countries as Ethiopia or Malawi have an average connection below 0.5 megabits/ second. To complet this objectives, Google hopes to have its Equiano submarine cable ready by the end of this year. This cable has been deployed since 2019 and will connect Europe and Africa, contributing then to a considerable improvement in the current infrastructure of Africa. The “African digital transformation” project as it has been described by Google and Alphabet CEO, Sundar Pichai has a budget of 1 billion dolars, and incorporates a 50 million dolars, 40 million of which for non-profit organizations that works improving the standard of living in Africa, and the remaining 10 million for low-interest loans aimed at tech startups in Ghana, Nigeria, Kenya and South Africa.
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