Technology, Internet News

China’s Ping An Joins Global Blockchain Consortium, Led by Fintech Firm R3

China’s second-biggest insurance company, Ping An Group, has become the first Chinese member of a global consortium led by fintech firm R3 which is working on ways blockchain technology can be used in financial markets, the companies said on Tuesday. Ping An …

Outdated SAP Software May Be Vulnerable to Hackers if Not Properly Patched

Europe’s biggest software company, SAP, is the subject of a U.S. security alert over a vulnerability the firm disabled six years ago that can still give outside attackers remote control over older SAP systems if the software is not properly patched. SAP fixed the …

CSC Completes Acquisition of UK’s Xchanging

CSC, the TYSONS, Va.-based technology solutions and services provider, announced it has completed the acquisition of Xchanging plc. “CSC and Xchanging together will create a leader in technology and business process services for the global insurance industry, significantly expanding CSC’s …

Aon Launches Next Generation of ReMetrica for Risk & Capital Modeling

Aon Benfield, the global reinsurance intermediary and capital adviser of Aon plc, has launched ReMetrica Version 7.0 – its next generation platform for risk and capital modeling. Following Solvency II and equivalent regulation, insurers are demanding more value from their …

Ruschlikon Expands Global Reach in 2015; Use of ACORD Standards Rises 20%

Ruschlikon, the global community of insurers, brokers and reinsurers with a mission to optimize industry administrative costs and enhance client services, announced achieved several important milestones in 2015 — a year that saw an expansion of its global footprint. Ruschlikon* …

RIMS 2016: Star Trek Tools, Workers Comp’s Future Help Draw Biggest Crowd in 13 Years

Workers’ compensation, geopolitical risks, recalls, disaster response, the captive industry and cyber security were among the topics of sessions held throughout the final day of the annual RIMS conference for risk management and insurance professionals in San Diego, Calif. The …

Fintech Revolution May Threaten 250,000 Jobs as Europe Insurers Seek Cost Cuts

The rush is on to replace people with software in Europe’s insurance industry as cost cutting and automation become increasingly crucial to bolstering earnings. Zurich Insurance Group AG is accelerating its cost reduction program, targeting savings of at least $1 …

Aon Benfield Launches Global Reinsurer Trading Platform with Real-Time Data

Aon Benfield, the reinsurance intermediary and capital adviser of Aon plc, will launch on April 11 a global reinsurer trading platform called ABConnect Placements. Available for use with the July 1 renewals, ABConnect Placements will provide a more integrated, streamlined …

Japan Opens Door to ‘Fintech’ Revolution with Plans to Ease Investment Rules

A laggard in embracing the ‘fintech’, or financial technology, revolution, Japan is set to ease investment restrictions that could free up the flow of capital in an economy sitting on an estimated $9 trillion in individuals’ cash deposits. Strict regulation, …

Carpenter Launches New Version of Client Portfolio, Risk Management Platform

Guy Carpenter & Co. announced the launch of GC AdvantagePoint® 2.0, the latest release of its client portfolio and risk management platform. With GC AdvantagePoint 2.0, clients are able to easily leverage the technology to make strategic decisions through the …