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Technologies like A.I., blockchain and drones ‘majorly’ disrupting insurance industry, report says

Technologies like A.I., blockchain and drones ‘majorly’ disrupting insurance industry, report says

Finance
Insurance firms are facing increasing competitive pressure on all fronts due to the emergence of a number of insurance technology (insurtech) start-ups, according to a report.With the integration of technologies like artificial intelligence, blockchain and drones entering the insurance mix, the sector is being forced to rethink its model.The World Insurance Report, published Wednesday by consulting giant Capgemini and non-profit industry body Efma, found that nearly one third (31.4%) of customers relied on insurtech solutions - either exclusively or in combination with an established insurance company."Customers are seeking more digital touch points for convenience, as customers experience in their daily lives that degree of personalization," Keith Webb, vice president at Capgemini and co-...
How Blockchain Will Shape the Future of Social Networks

How Blockchain Will Shape the Future of Social Networks

Finance
Shutterstock photo“If you’re not paying for the product, then you’re the product...” The saying may be well-versed in the world of social networks, however many users aren’t aware of the true price they are paying while posting online.Many of the major social networking websites of today are all free to use, so naturally users aren’t aware of any hidden costs. While at the other end, the sites themselves keep becoming more and more valuable based on the contributions and data provided by users.According to Metcalfe’s law, the value of a social network is directly proportional to the square of number of users. This is evident in the recent sky-high valuations of companies like Snapchat, Facebook, LinkedIn, and Whatsapp which have billions of dollars in market cap, even though some are yet t