Recent developments in the FinTech sector have spotlighted The Demex Group, a company at the forefront of risk analytics and intelligence, specializing in parametric reinsurance solutions. In a significant stride forward, Demex has successfully raised $10.25 million through a Series A and preceding SAFE round funding. These funds are crucial for the company as it seeks to enhance its product
In recent years, the landscape of cloud computing has experienced significant growth, particularly accelerated by the COVID-19 pandemic. This increase in demand has led to substantial global spending on cloud infrastructure, now reaching approximately $80 billion per quarter—a 22% year-on-year increase. However, this swift expansion comes with its challenges, particularly in terms of energy consumption. As more tasks become dependent
In an effort to protect Kenyan coffee farmers from the financial devastation caused by increasingly frequent droughts, a pioneering parametric insurance product has been launched. This initiative is a collaborative effort between Liberty Mutual Reinsurance (LM Re), Insurtech firm Sprout, Inc., and Britam, a local financial services company. Developed through the Lloyd’s Lab Launchpad Pitch, the product leverages cutting-edge technology
The Computer Research Institute of Montréal (CRIM) has been a pivotal player in the tech landscape of Quebec since its establishment in 1985. Focused on applied research, CRIM specializes in leveraging artificial intelligence (AI) for industrial applications with an emphasis on safety, productivity, and trustworthiness. This article delves into CRIM’s rich history, their methodologies for AI development, and their remarkable
The European Digital Payments Industry Alliance (EDPIA) in collaboration with Oxford Economics has conducted a revealing study examining the environmental impact of digital payments compared to cash transactions in three European countries: Italy, Germany, and Finland. These nations represent varying levels of digital payment adoption and maturity, providing a comprehensive perspective on the issue. According to the research, digital payments
The Occupational Safety and Health Administration (OSHA) has issued a proposed heat safety rule that aims to protect workers from extreme heat as persistent heat waves bring record-breaking temperatures across the U.S. The rule, if finalized, would establish the first-ever national heat safety standard. Here’s what you need to know about the proposed regulation and steps you can take now
In a significant step towards fostering innovation and diversity in entrepreneurship, Google has awarded $150,000 to Puerto Rican startup Raincoat. This funding is part of the Google for Startups Founders Funds program, which aims to support Black and Latino entrepreneurs. Raincoat, renowned for its AI-driven climate insurance solutions, will use this substantial financial backing to scale its groundbreaking technology and
As heatwaves become increasingly frequent and intense, the debate around regulating maximum workplace temperatures in the UK has reached an urgent tipping point. With forecasts predicting temperatures to soar close to 30°C, the call for legislative reform to protect workers from the dangers of extreme heat is more pressing than ever. Advocacy groups and unions are spearheading campaigns to set
IBISA, a leader in the Climate InsurTech sector, has successfully raised $3 million in funding to expand its innovative parametric insurance solutions. This recent funding round will enable IBISA to enhance climate resilience in regions highly susceptible to weather-related risks, focusing primarily on Asia and Africa. The new injection of capital will help smallholder farmers, financial institutions, and other stakeholders
In recent years, climate change has been an escalating concern globally, with regions in Asia and Africa experiencing severe weather-related disruptions. Traditional insurance methods frequently fail to provide timely relief and the financial stability required for such vulnerable populations. This is where parametric insurance steps in with potential solutions designed to scale climate resilience, offering rapid payouts based on predefined
The specter of climate change looms large, particularly for nations in the Global South, which often bear the brunt of environmental disasters. In a move that signals a seismic shift in disaster risk management, the Insurance Development Forum (IDF), helmed by Zurich Insurance Chair Michel Liès, has forged a powerful alliance with the French Development Agency Group (AFD Group). The
Amidst a political climate besieged by debates on inequality and the climate crisis, the Green Party of England and Wales offers a compelling narrative. Their innovative manifesto champions sweeping reforms, all while underpinning their steadfast commitment to social justice and environmental responsibility. In an age where the public yearns for sincerity and actionable change, Co-leaders Sian Berry and Jonathan Bartley
