IRDA considering Managed General Agencies in insurance

Insurtech startups which mostly operate as insurance intermediaries are pushing for a new set of licences from the IRDAI to set up agencies who can source customers and take risks too.

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Snap puts 10 billion AI chatbot messages to use refining its ad business

More than 150 million people — about 20% of Snapchat’s monthly users — have sent 10 billion messages to the chatbot, called My AI, since it was introduced at the end of February, the company said Thursday. Users have asked about everything from skin care recommendations to details about the latest sports car.

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India can assume leadership position through digital transformation: MeitY Secy

Speaking on the need for digital transformation at the National Internet Exchange of India's (Nixi) 20th foundation day event in Delhi on Monday, he added that India would be able to achieve its climate goals through digital transformation.

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Australian miner Fortescue expands battery electric powertrain output in UK

The Banbury facility will open in 2024 and operate alongside Fortescue's other Oxfordshire facilities including the Kidlington factory which will open later this year.

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Silicon Valley Bank subsidiary sold to management team

Healthcare investment firm SVB Securities announced Sunday that its management team would buy out the company from parent Silicon Valley Bank, the California-based lender whose brisk collapse in March shook financial markets.

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JLR taps Everstream Analytics' AI to dodge supply chain problems

The new AI technology, JLR said, will allow it to monitor its supply chain in real-time and protect the production of its current models and next generation of electric vehicles (EVs).

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India likely to bag 40% of jobs lost to layoffs globally; Mojocare funders flag financial finagling

Some good news to chase away the Monday blues. Remember the thousands who lost their jobs globally? According to experts, a big chunk of those roles could move to outsourcing hubs like India in the coming months. This and more in today’s ETtech Morning Dispatch.

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