FinTech Weekly | Issue 72

Israeli healthcare coordination startup Healthiee financing $32 million

Israeli healthcare coordination startup Healthiee raised $32 million in Series A financing led by Fin Capital, Glilot Capital Partners, and Group11, with strategic partner TriNet also participating in the financing.

 

Information link:

https://www.prnewswire.com/news-releases/healthee...

Comment: This Israeli startup company was founded in 2019, then named Insurances, using artificial intelligence to help users understand their existing healthcare plans and answer inquiries about coverage, treatment, and benefits.

 

$6.4 million in Preemptive AI financing

Preemptive AI, a startup that predicts health outcomes by analyzing smartphone and wearable device data, has received $6.4 million in financing. This startup is launching a revolutionary foundational model, a large-scale machine learning model trained on a wide range of datasets aimed at changing health prediction and monitoring.

 

Information link:

https://www.geekwire.com/2024/seattle-health...

Comment: The model utilizes advanced signal processing to interpret biomedical signals from smartphones and wearable devices, providing "unprecedented insights into human physiology.".

  

German life insurance startup Embea raises 4 million euros

German life insurance startup Embea announced a € 4 million financing, led by Atlantic Labs and Astrorya.VC. The founder of Ladder also participated in this round of financing along with several others. The company was founded in 2022 and provides consumers and partners with critical illness insurance products, including cancer, heart disease, and stroke, through embedded solutions.

  

Information link:

https://www.insurtechinsights.com/embea-raises-e4...

Comment: Their products are underwritten by the European insurance company Quantum Leben. Embea plans to use this funds to expand its embedded life insurance platform and add new products.

Insurance Technology Cake Financing $1.3 million Seed Round

Cake is a trading market that specializes in serving independent insurance agents and has announced a $1.3 million pre seed financing led by venture capitalist Markd. Markd is a venture capital firm focused on the insurance industry, with other investors including 2ndF, Iridium Bloom LLC, 101 Weston Labs, IIANC, and others.

 

Information link:

https://www.insurancejournal.com/news/midwest/2024/02/20/761523.htm

Comment: Cake was founded in 2021 with the aim of building a bridge between independent agents who wish to sell their business and agents seeking to expand their business scale. Cake stated that the financing funds will be used to optimize platform functions and services and increase customer acquisition efforts.

Blip, an insurance technology company serving small and medium-sized enterprises, launched in the UK

Blip, an insurance technology company serving small and medium-sized enterprises, announced its launch in the UK. Under the leadership of Gary Ross, a former employee of AmTrust, Blip is committed to providing services to small and micro enterprises with no more than 5 employees. They also established a partnership with the London based management based general agency incubator and project platform Pro MGA Solutions, and will refund a portion of the premium to policyholders, which will be underwritten by Wakam, in the event of product profitability.

 

Information link:

https://www.blipbillboards.com

Comment: Their digital platform can improve transparency, share profits with customers, establish trust between policyholders and insurance companies, and save premiums for policyholders.

 

Tractive, a location-based company, collaborates with Ignite and Cov é a to launch insurance products

American pet positioning and health tracking device service provider Tractive has partnered with insurance technology Ignite, Verisk, and French insurance company Cov é a to launch the first insurance called Tractive Pet Cover, mainly aimed at cat and dog owners in the UK. It is reported that this product has over one million subscribers worldwide. Tracive provides discounts for policyholders on their devices, which can track the GPS location of pets and monitor activity and sleep. New customers can receive free equipment and a 3-month trial.

 

Information link:

https://www.insurancetimes.co.uk/news/pet-wearable...

Comment: This product provides pet owners with lifelong pet insurance and can cover up to £ 9000 in veterinary treatment costs annually.

Special risk company Beazley establishes a new Beazley Security network risk brand

Special insurance company Beazley announced the merger of its internal network service team and its wholly-owned cybersecurity company Lodestone, and the establishment of Beazley Security, a comprehensive network risk management company. The new company has integrated risk management services from Beazley's network insurance products and Lodestone's technical network security services.

 

Information link:

https://www.beazley.com/en-US/news-and-events/..

Comment: In addition, we will also invest in new services such as hosting extension detection and response solutions to identify, monitor, and contain network threats in the long term.

 

Insurance brokerage giant Acrisure enters the aviation insurance industry

Acrisure has established the aerospace insurance department, Acrisure Aerospace. They will help clients in the US, London, and international aerospace insurance markets obtain comprehensive aviation insurance solutions, covering personal and commercial aircraft, rocket launches, and numerous complex space facilities.

 

Information link:

https://www.acrisure.com/Aerospace

Comment: Whether it is the purchase of aircraft by intern pilots, the operation of commercial aircraft, or the product liability of airlines and manufacturers, Acisure is always committed to providing services to any customer engaged in the aerospace business.

Mastercard launches an open banking subscription management tool

Recently, Mastercard announced the launch of an open banking subscription management tool, Smart Subscriptions, in response to this demand. This tool uses Mastercard open banking technology provided by Finicity to connect multiple accounts to a central hub, which banks can plug into their applications. Bank customers can use this service to cancel, pause, and resume their subscriptions, while also receiving personal consumption analysis, expense classification, and personalized discounts. Mastercard stated that this technology is also beneficial for banks to increase user loyalty, increase participation, and reduce chargebacks. It is reported that the system is currently being piloted in the United States and is expected to be promoted to other countries this year.

 

Information link:

https://www.dsb.cn/241146.html

 

BRICS countries may use blockchain technology to create their own payment platforms

Recently, Russian presidential assistant Yury Ushakov stated in an interview with TASS that he plans to use technologies such as blockchain and digital currency to build an independent payment system within the BRICS group. The BRICS Group includes five emerging economies, Brazil, Russia, India, China, and South Africa, with a huge population and economic size, and significant influence on regional and global affairs. In recent years, the BRICS countries have been exploring ways to enhance economic independence and reduce dependence on the Western financial system.

 

Information link:

https://www.cryptopolitan.com/zh-cn

 

The National Bank of Malaysia and the National Bank of Cambodia signed a Memorandum of Understanding on Financial Innovation and Payment Cooperation

The National Bank of Malaysia (BNM) and the National Bank of Cambodia (NBC) have signed a Memorandum of Understanding (MoU) to strengthen regional cooperation in financial innovation and payments. This memorandum of understanding will promote closer cooperation between BNM and NBC to drive financial innovation, facilitate more efficient and secure cross-border payments, and benefit individuals and businesses in both countries. This includes connecting the domestic payment systems of the two countries to achieve cross-border QR code payments. The cooperation also aims to encourage the use of local currency for settlement and support the establishment of cooperative supervision mechanisms to achieve safer cross-border payments.

 

Information link:

https://www.bnm.gov.my/-/mou-nbc-en

 

The Bank of England plans to launch a cloud based data platform and artificial intelligence pilot

Recently, the Bank of England announced the establishment of a cloud based data and analysis platform. On March 7, 2024, James Benford, Head of Data and Analytics Transformation at the Bank of England, provided a detailed explanation of this plan in a speech. It is reported that the Bank of England will complete its data and analysis strategy updates in seven steps. In addition, the Bank of England will also carry out a series of artificial intelligence pilots and supervise the above work through an AI task force.

  

Information link:

https://www.36kr.com/p/2160790191841801v

Amazon invests $7.7 million to promote recycling through artificial intelligence and robots

Glacier, an artificial intelligence and robotics company focused on recycling, announced today that it has raised $7.7 million to support its development and capabilities, aiming to enable more materials to be recycled, avoid waste, and help reduce emissions. This round of financing is led by venture capital New Enterprise Associates and Amazon's climate commitment fund. In addition to this new investment, Amazon has also announced a partnership with Glacier to pilot a new classification project for biomaterials, aimed at supporting Amazon's vision of reducing plastic usage and shifting towards the use of bio based materials, as well as biodegradable and compostable materials.

 

Information link:

https://www.amazonaws.cn/newsroom/2023/global-0926-gai

 

The EU has reached an agreement on a law prohibiting the use of forced labor products

Legislators of the European Parliament and Council have announced that they have reached a temporary agreement on new rules prohibiting the sale or export of products manufactured using forced labor into the EU market. This agreement was reached following the preliminary proposal put forward by the European Commission in September 2022, aimed at addressing the issue of modern slavery, guiding customs authorities to identify and prevent products manufactured using forced labor from entering EU borders, and authorizing national authorities of member states to remove products manufactured using forced labor after investigation. The proposed regulation covers all products, including those produced within the EU for domestic consumption and export, as well as imported goods.

 

Information link:

Xueqiu.com/2518380465/280970949

 

UK plans to regulate ESG rating suppliers

On March 6th, the UK announced in its Spring Budget 2024 that the government will regulate suppliers engaged in ESG rating work in the UK, and ESG rating providers will be included in the regulatory scope of the Financial Conduct Authority (FCA). The FCA has previously established an ESG Advisory Committee to incorporate ESG into regulatory processes, with the aim of improving the transparency of ESG information disclosure and helping investors access green products and services.

  

Information link:

https://www.todayesg.com/uk-esg-ratings 

 

Singapore will invest in helping businesses meet new climate reporting requirements

The Singapore government has announced the launch of a new sustainability report funding program to support companies, covering nearly one-third of the cost of producing sustainability reports for the first time. The new funding plan is implemented on the basis of the government's announcement last week that it will introduce mandatory climate related reporting requirements based on the International Sustainability Standards Board (ISSB) standards of the International Financial Reporting Standards Foundation (IFRS Foundation), requiring listed and large non listed companies to start disclosing obligations in 2025, and large non listed companies to start in 2027.

 

 

Information link:

Esgnews. com/zCN/% E6% 96% B0% E5% 8A% A0% E5% 9D% A1% E5% B0% 86% E4% BB% 8E-202 Amazon invests $7.7 million to promote recycling through artificial intelligence and robots

Glacier, an artificial intelligence and robotics company focused on recycling, announced today that it has raised $7.7 million to support its development and capabilities, aiming to enable more materials to be recycled, avoid waste, and help reduce emissions. This round of financing is led by venture capital New Enterprise Associates and Amazon's climate commitment fund. In addition to this new investment, Amazon has also announced a partnership with Glacier to pilot a new classification project for biomaterials, aimed at supporting Amazon's vision of reducing plastic usage and shifting towards the use of bio based materials, as well as biodegradable and compostable materials.

 

Information link:

https://www.amazonaws.cn/newsroom/2023/global-0926-gai

 

The EU has reached an agreement on a law prohibiting the use of forced labor products

Legislators of the European Parliament and Council have announced that they have reached a temporary agreement on new rules prohibiting the sale or export of products manufactured using forced labor into the EU market. This agreement was reached following the preliminary proposal put forward by the European Commission in September 2022, aimed at addressing the issue of modern slavery, guiding customs authorities to identify and prevent products manufactured using forced labor from entering EU borders, and authorizing national authorities of member states to remove products manufactured using forced labor after investigation. The proposed regulation covers all products, including those produced within the EU for domestic consumption and export, as well as imported goods.

 

Information link:

Xueqiu.com/2518380465/280970949

 

UK plans to regulate ESG rating suppliers

On March 6th, the UK announced in its Spring Budget 2024 that the government will regulate suppliers engaged in ESG rating work in the UK, and ESG rating providers will be included in the regulatory scope of the Financial Conduct Authority (FCA). The FCA has previously established an ESG Advisory Committee to incorporate ESG into regulatory processes, with the aim of improving the transparency of ESG information disclosure and helping investors access green products and services.

  

Information link:

https://www.todayesg.com/uk-esg-ratings 

 

Singapore will invest in helping businesses meet new climate reporting requirements

The Singapore government has announced the launch of a new sustainability report funding program to support companies, covering nearly one-third of the cost of producing sustainability reports for the first time. The new funding plan is based on the government's announcement last week that it will introduce mandatory climate related reporting requirements based on the International Sustainability Standards Board (ISSB) standards of the International Financial Reporting Standards Foundation (IFRS Foundation), requiring listed and large non listed companies to begin disclosing obligations in 2025, and large non listed companies to begin in 2027.

 

 

Information link:

Esgnews. com/zCN/% E6% 96% B0% E5% 8A% A0% E5% 9D% A1% E5% B0% 86% E4% BB% 8E-202

White House: It is expected that US economic growth will significantly slow down this year, and inflation will continue to be stubborn

The White House predicts that the US economy will significantly cool down in 2024, and even if inflation falls, it will remain stubbornly above the Federal Reserve's target. US President Biden announced the budget for the fiscal year 2025 on Monday, which predicted an economic growth rate of 1.7% for 2024, far below the median estimate of 2.1% by economists. After an unexpected economic growth of 2.5% in 2023, most forecasters believe that under the constraint of high interest rates, economic growth will slow down this year

 

Information link:

https://m.21jingji.com/article/20240312/herald/a16...

 

France launches a national research project on "organic robots"

On the 11th, multiple research institutions in France launched a large-scale national research project called "Organic Robotics" in the southern city of Montpellier, aiming to break through the limitations of existing robot technology and create a new generation of robots that can interact smoothly with humans and adapt to society. This research project is part of the "France 2030" investment plan and will be jointly led by the French Commission on Alternative Energy and Atomic Energy, the French National Center for Scientific Research, and the French National Institute for Digital Technology. It will receive funding support of 34 million euros within 8 years.

 

Information link:

https://news.cctv.com/2024/03/12/ARTIkftbojQD5hhYkIACVRJ5240312.shtml

  

The Bank of Japan's internal support for ending negative interest rates in March is reported to be strengthened

According to Jiji News Agency, if the first batch of salary increases announced by the Japan Federation of Trade Unions on Friday exceed last year's 3.8% increase, the Bank of Japan is expected to end its negative interest rate policy. It is reported that due to the increasing possibility of salary increases exceeding last year's levels in the annual spring negotiations, the Bank of Japan has strengthened its internal support for ending negative interest rates in March.

 

Information link:

https://m.jiemian.com/article/10903374_microcontent.html

  

India signs a free trade agreement with the European Free Trade Association and will receive $100 billion in investment within 15 years

After 16 years of negotiations, India has signed a Trade and Economic Partnership Agreement (TEPA) with the European Free Trade Association (EFTA) aimed at promoting investment, exports, and job creation. EFTA's member countries include Iceland, Liechtenstein, Norway, and Switzerland. The agreement consists of 14 chapters, covering trade in goods, rules of origin, intellectual property, trade in services, investment promotion and cooperation, government procurement, technical trade barriers, and trade facilitation.

  

Information link:

https://export.shobserver.com/baijiahao/ht

CITIC Securities: OLED domestic chain growth welcomes opportunities, panel price increase momentum continues

According to a research report by CITIC Securities, OLED display technology has become an important direction for display upgrades, and it is expected to continue to penetrate the smartphone market and accelerate its expansion in mid size scenarios such as tablets, laptops, and cars, driving sustained and stable growth in the industry. In the OLED panel sector, we are optimistic about the sustained price increase momentum of panels under the improvement of supply and demand in the medium and short term. In the long run, it is expected that the industry space will steadily expand with the continuous penetration of terminal applications.

 

Information link:

https://www.nbd.com.cn/articles/2024-03-11/3274321.html

 

The surviving scale of the family trust reaches 550 billion yuan

The family trust business in our country is accelerating its expansion. According to data from China Trust Registration Co., Ltd., as of the end of December 2022, the scale of family trusts in China was approximately 550 billion yuan, an increase of about 34% compared to the end of 2021. In addition, according to feedback from a survey conducted by the China Trust Industry Association on the distribution of family trust assets among 43 trust companies, at the end of 2021, the single entrustment scale of surviving family trusts was mainly between 10 million and 30 million yuan, with 6475 transactions and 81.418 billion yuan respectively distributed in this range, accounting for 82.86% and 47.13%. The trust property already covers cash, insurance policies, real estate, and corporate equity, and its service scenarios involve children's education, asset protection, elderly care, and other aspects.

 

Information link:

https://m.21jingji.com/article/20240304/herald/e8...

 

Release of the 2023 Special Research Report on the Trust Industry

The China Trust Industry Association has released the 2023 Special Research Report on the Trust Industry. The report is divided into ten parts, including research on the strategic management system of trust companies under the new classification, case studies of trust disputes in China, research on the hierarchical classification and supervision of trust companies, and research on prepaid fund service trusts. The report emphasizes that trust companies should fully leverage the foresight and guidance of strategic planning, and choose the business development direction that is suitable for themselves. In addition, regarding the family trust business, the report shows that the industry is deepening its transformation, and the high-quality development of Chinese family trusts is at an opportune time; At the same time, customer demand is diversified, and the potential of the Chinese family trust market is enormous.

 

Information link:

http://www.xtxh.net/xtxh/reports/48948.htm

 

The first batch of CSI A50 ETF established

As of the evening of March 7th, the first batch of highly anticipated CSI A50 ETFs have all been established. According to the effective announcement of the contract, there are four products with an initial launch scale of 2 billion yuan, namely Ping An CSI A50ETF, Morgan CSI A50ETF, Huatai Bairui CSI A50ETF, and Dacheng CSI A50ETF. At present, 10 products that have been announced for establishment have been disclosed, with a total fundraising scale of about 16.5 billion yuan, igniting the "first flame" in the ETF market this year.

 

Information link:

Jingji.cctv.com/2024/03/09/ARTIunm0ZtyJ1dq8V48yCStCSTF240309. shtml

Musk: The AI industry will shift from "silicon shortage" to "power shortage" in the next two years
According to The New Yorker magazine, ChatGPT's daily electricity consumption is more than 17000 times the average electricity consumption of American households. And if generative AI is further adopted, it may consume more power. Musk had predicted that the industry would shift from a "silicon shortage" to a "power shortage" in the next two years, which could hinder the development of artificial intelligence.
 
Information link:
https://www.thepaper.cn/newsDetail_forward_24051043
 
The Association of Insurance Companies in the UK has released new guidelines on responsible use of artificial intelligence
The Association of British Insurance Companies (ABI) has released a new guide to help companies responsibly use artificial intelligence. This guide was developed in collaboration with ABI's Artificial Intelligence Working Group, which includes experts in actuarial, data science, data protection, legal, regulatory, and compliance areas. It includes key issues that companies should consider on their own to assist in the responsible use of artificial intelligence. This guide also provides a set of good practice examples related to algorithms, an overview of existing regulations consistent with the five principles of artificial intelligence regulation in the UK, and an example of how artificial intelligence can be used in insurance and long-term savings
 
Information link:
https://www.abi.org.uk/news/n
 
Putin, Russia, and OPEC+partner countries will not indefinitely raise oil prices
During his visit to the Stavropol Territory, Russian President Putin stated that Russia and its OPEC+partner countries will not indefinitely raise oil prices, as this is detrimental to both producers and consumers. The Russian side hopes that oil prices will remain stable. The "OPEC+" cooperation mechanism refers to the cooperation mechanism between the Organization of the Petroleum Exporting Countries (OPEC) and non OPEC oil producing countries.
 
Information link:
https://news.cctv.com/2024/03/06/ARTIQzB0GvqVr9...
 
The EU is preparing to establish comprehensive artificial intelligence rules, which may have a global impact
It is reported that the European Parliament is scheduled to vote on artificial intelligence regulations on March 13th, and a member of parliament said he expects the legislation to be easily passed. According to the current schedule, the bill will basically come into effect in 2026, and some provisions will come into effect this year. The bill will regulate the different uses of artificial intelligence based on risks, including prohibitions on certain usage cases, such as workplace "emotion recognition" systems, which will face the highest fines: 7% of global revenue or 35 million euros, whichever is higher. The EU will not be the first jurisdiction to regulate artificial intelligence, but the size of the European market means that the EU Artificial Intelligence Act will have an impact on a global scale.
 
Information link:
https://www.36kr.com/p/2680173600209929
 
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