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Wayne State MTRAC-funded project uses computer-assisted technology to mitigate surgical bleeding

wayne state mtrac-funded project uses computer-assisted technology to mitigate surgical bleeding

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Intraoperative hemorrhage — colloquially known as “bleeding out” — is a leading cause of death in operating rooms around the world. It is estimated that at least 75% of this surgical complication is due to human or technical factors in anesthesia, blood transfusions or the surgical procedure itself. Other causes may include structural anomalies, drug-related issues or other health disorders.The Computer-Assisted Robot-Enhanced Systems, or CARES, Laboratory at Wayne State University — directed by Abhilash Pandya, Ph.D., associate professor of electrical and computer engineering

Abhilash Pandya, Ph.D.

— develops surgical technologies that combine image guidance, augmented and virtual reality, and robotics. Dr. Pandya and his colleagues — Hao Ying, Ph.D., professor of electrical and computer engineering; Luke Reisner, Ph.D., assistant research professor; and doctoral student Mostafa Rahbar — are creating a platform that provides surgeons the ability to see and predict potential intraoperative bleeding.The project received funding from the Michigan Translational Research and Commercialization Innovation Hub for Advanced Computing as well as the National Science Foundation Small Business Technology Transfer program. RediMinds Inc., a Southfield, Michigan-based software company led by Chief Executive Officer and Wayne State alumnus Madhu Reddiboina, is the group’s partner for STTR Phase I and will work with …

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Nationwide cutting 250 workers permanently, furloughing 320 across the country due to COVID-19

nationwide cutting 250 workers permanently, furloughing 320 across the country due to covid-19

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Nationwide will cut 250 jobs permanently and another 320 temporarily as the Columbus-based insurer implements technology changes and deals with the effects of the coronavirus.
The Columbus-based insurer Nationwide said Thursday that it is cutting staff, some temporarily, across the country.Nationwide said about 250 workers will lose their jobs for good, and about 320 will be furloughed for up to three months.In central Ohio, about 35 workers are among the permanent cuts, and 65 will lose their jobs temporarily.The permanent cuts are tied to investments Nationwide has been making in technology and other areas, and the temporary losses are due to a slowdown in business caused by the pandemic.Nationwide has 28,000 workers, about half of them in central Ohio.”Long-term investments we’ve made in technology, innovation and streamlined operations are shifting our workforce needs,” the company said in a statement regarding the permanent losses.The permanent cuts are in property and casualty claims, service and operations roles. Nationwide said they are being made to streamline operations and offer more price competitive products.The affected workers are being given 60 days’ pay, severance and outplacement service, and can apply for other Nationwide jobs.The cuts come as COVID-19 is making consumers increasingly price sensitive …

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Company started by UNM professor receives $1.25 million grant

company started by unm professor receives $1.25 million grant

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A solar energy company started by a professor at The University of New Mexico has received a $1.25 million award from the U.S. Department of Energy Solar Energy Technologies Office (SETO) to advance a technology that could add significant life to solar panels.

Osazda Energy was started in 2017 by Sang M. Han, professor of chemical and biological engineering at UNM. The company developed a composite silver paste technology called MetZillaTM to address cell-crack-induced performance degradation in solar panels, which Han said could change the future of solar cell manufacturing across the industry by increasing the long-term durability and power generation from panels. He said It could reduce the operation and maintenance cost, increase the net present value of utility-scale photovoltaic (PV) projects, and reduce the insurance premium that module manufacturers would have to pay to guarantee their module performance over 25 years.

The main goal of the Department of Energy (DOE) project is to take this technology to market and continue to advance innovations in solar manufacturing, Han said. The company is partnering with the University of North Carolina – Charlotte, D2Solar, CFV and Sandia National Laboratories on the project. The group will work together to improve the MetZillaTM product formulation …

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Balancing the risks and opportunities of technological innovation

balancing the risks and opportunities of technological innovation

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As part of Travelers technology knowledge hub, the global insurer has highlighted the rapid developments precipitated by the increased demand for and uptake of digitally focused solutions in the insurance space. Meg Ryan, a technology underwriter at Travelers Europe, outlined that the technologies emerging now have the potential to transform life as we know it.

“New risks and ethical concerns are inevitable,” she said, “so as insurers we aim to drill down on the potential risks companies face, ask tough questions, and help pave the way for smooth innovation.”

Ryan detailed how the Accenture Technology Vision 2019 report indicated a change in the delays faced by major technologies when it comes to rate of market adoption. When mobile phones first hit the market, they took over 10 years to reach 50 million users, whereas the internet took seven years to reach this metric. Several years later, Facebook took four years to hit this number while WeChat took a year and Pokémon GO took approximately 19 days.

As rapidly as new technology reaches the public marketplace, consumers are keeping up with the pace. They are rapidly escalating the speed at which they are adopting those innovations which are designed to make their lives easier or …

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InsureMyTrip Reports “Voucher Travel Insurance” On The Rise

insuremytrip reports “voucher travel insurance” on the rise

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WARWICK, R.I., May 29, 2020 /PRNewswire/ — With a surge of canceled trips due to the COVID-19 pandemic, InsureMyTrip anticipates higher demand for “voucher travel insurance”, once travel resumes. This week, the travel insurance comparison site has already reported an uptick in inquiries from voucher recipients seeking comprehensive travel insurance for future trips.
“Right now, travel vouchers are more commonly issued as travel suppliers temporarily relax cancellation policies due to the uncertainty around the COVID-19 pandemic,” says Ronni Kenoian, marketing and ecommerce manager for InsureMyTrip.
“While travelers still prefer cash refunds, the good news here is that travelers can opt to insure those vouchers for their next trip — just like they would with a cash form of payment.” 
How Voucher Travel Insurance Works
Example: A cruise line cancels a sailing during the COVID-19 pandemic. In lieu of a cash refund, the cruise line offered passengers a $5,000 voucher for a future cruise. A couple who accepted the $5,000 voucher then redeems it for a future cruise that costs exactly the same amount. Airline tickets totaling $650 were then purchased with cash.
Q: Can the couple purchase comprehensive travel insurance and insure the redeemed travel voucher used for the new sailing ($5,000) in addition to the …

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CCC Information Services Reports Accelerated Growth of Photo Estimate and AI

ccc information services reports accelerated growth of photo estimate and ai

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Photo-Enabled Estimates Surpass 3 MillionCCC Information Services Inc. reports that photo estimates and AI-supported claims have expanded at a record pace exceeding double-digit growth since the beginning of the year. The rapid adoption of digital technology is in direct response to social distancing and work-from-home protocols initiated to combat COVID-19.Recommended AI News: Opinion: Dealing With The Deadly Concoction Of Disease And DisasterIndustry Adoption of Photo Estimates IncreaseCCC industry data shows that the insurance industry recently surpassed 3 million estimates initiated leveraging photo technology, since tracking began in 2018. The company also reports that the percentage of claims processed through CCC Quick Estimate, the company’s mobile photo estimating solution, has more than doubled from January to April of 2020 as carriers are accelerating use and adoption of digital tools in response to COVID-19.“Industry use of photos for method of inspection has been growing and insurers are seeing benefit to both cycle time and customer satisfaction,” said Susanna Gotsch, director, industry analyst, CCC. “The recent spike is likely indicative of a new normal as we’re seeing greater use of digital by carriers that have been in market and new insurers coming online with digital solutions.”Recommended AI News: 5 Ways Smart Cities Can …

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Insurance Covid-Cast episode 18: Brit head of innovation James Birch on digital Lloyd’s start-up Ki’s plan to be a top 10 syndicate by 2025 – Insurance Age

insurance covid-cast episode 18: brit head of innovation james birch on digital lloyd’s start-up ki’s plan to be a top 10 syndicate by 2025 – insurance age

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Ki, the new standalone algorithmically-driven digital Lloyd’s syndicate launched by Brit Insurance in collaboration with technology giant Google, aims to be a top ten player in terms of capacity by 2025.
Set to open for for trading on 1 January 2021, Ki’s algorithm enables it to automatically quote for business through a digital platform which brokers can access directly anywhere and at any time using Google Cloud technology. The selection process is performed using a proprietary algorithm developed with support from University College London and its computer science department. Ki will follow several ‘nominated’ lead syndicates across the Lloyd’s market, including Brit.

“Ki is a partnership between Brit Insurance, Google and UCL,” according to James Birch, head of innovation at Brit, speaking during the latest Insurance Covid-Cast newsmaker special.

“This is something we have been working on collectively for about nine months and the initial hypothesis was around the expense pressure that the Lloyd’s of London market has been under for so long. And rather than trying to gain a point here or there on commission, take our destiny into our own hands and reduce it.

“And that is how the concept for Ki came about and we looked …

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Regulation, tech assisting the recovery of China’s insurance industry: GlobalData – Reinsurance News

regulation, tech assisting the recovery of china’s insurance industry: globaldata – reinsurance news

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The Chinese insurance industry remains on track to record strong growth between 2019 and 2023 as the sector begins to recover from the losses driven by the COVID-19 outbreak, reports GlobalData.
Analysis by GlobalData finds that regulatory changes and the use of technology are key to the ability of China’s insurance industry to recover from the impacts of the coronavirus outbreak.
The virus continues to spread in many parts of the world, but it’s hoped that China, where the first cases of the novel COVID-19 were reported, is over the worst and on the path to recovery.
GlobalData states that while its forecast growth rate for the country’s insurance sector between 2019 and 2023 has fallen on COVID-19, the market is still set for robust growth during this period. According to analysis, the Chinese insurance industry will experience a revised growth rate with a compound annual growth rate (CAGR) of 6.1% during the period, which is down from the previous forecast of 10.4%.
Ben Carey-Evans, Analyst of Insurance at data and analytics company, GlobalData, commented: “These are extraordinarily difficult times for all businesses, and Ping An losing so many customers is no surprise. It is impressive that it has managed to extend its …

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Help insurance professionals manage change in changing times | PropertyCasualty360

help insurance professionals manage change in changing times | propertycasualty360

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Insurance agents need to continually plan for change, not only during a pandemic. (Photo: kenary820/Shutterstock)

PropertyCasualty360 sat down with business development coach Kitty Ambers to discuss the process of change management ― especially in a world in which change is being forced on insurance professionals. Ambers has held several top executive positions with insurance trade organizations, and she is a member of the PropertyCasualty360 editorial advisory board. Currently, she serves as chief growth officer for AVYST, an InsurTech that streamlines policy submissions.

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