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IFC leads $17M investment in South African insurtech Naked

TechCrunch

Naked , a South African insurtech company that helps consumers to insure their cars, homes, and valuables, has raised $17 million in Series B funding led by the International Finance Corporation (IFC). South Africa makes up 70% of this market, with an annual gross written premiums market of over $47 billion.

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Naspers leads $11M investment in South African insurtech Naked

TechCrunch

Founded in 2018 by Alex Thomson, Sumarie Greybe and Ernest North, Naked is a digital insurance platform covering cars, content, homes and standalone items. The company says it employs artificial intelligence to create new processes and experiences for its customers. Insurtech is hot on both sides of the Atlantic. ” .

Insurance 264
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Applications and innovations in the Internet of Things (IoT)

Hacker Earth Developers Blog

The Internet of Things (IoT) is a system of interrelated devices that have unique identifiers and can autonomously transfer data over a network. IoT ecosystems consist of internet-enabled smart devices that have integrated sensors, processors, and communication hardware to capture, analyze, and send data from their immediate environments.

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CIOs in financial services embrace gen AI — but with caution

CIO

Highly regulated, customer-centric, and dependent on layers of human involvement and manual processes, financial services are ripe for automation through artificial intelligence (AI). Generative AI is starting off a new age of exploration in IT,” says Frank Schmidt, CTO at insurance firm Gen Re.

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Concerns remain even as the EU reaches a landmark deal to govern AI

CIO

If the rules are too strict or costly, non-EU firms will just make the decision to ignore the EU market,” said Ray Wang, principal analyst and founder of Constellation Research. And it’s extremely important for innovation and business,” Thierry Breton, European Commissioner for internal market, said at the press conference.

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Revolutionizing Auto Insurance: How InsurTechs are Lowering Auto Insurance Costs with Usage-Based Policies

Trigent

Usage-based insurance, often referred to as UBI, has shot to popularity due to its immense potential for insurers when it comes to customization and cost savings. In-car technologies and the surge in connected cars significantly contribute to the growing market size of usage-based insurance. percent between 2023 and 2032.

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Digital listening reveals 3 leading innovation drivers

CIO

In six short months, ChatGPT propelled artificial intelligence (AI) into the minds and imaginations of the masses more than any other development since the term “AI” was coined in 1956. Gaming: Companies behind popular video games argue that their virtual worlds are the closest thing resembling a “metaverse” on the market.