U.S. Justice Department teams up with states on probe of Big Tech firms

ASPEN, Colo./WASHINGTON (Reuters) – The U.S. Justice Department is working with a group of more than a dozen state attorneys general as it moves forward with a broad investigation into major technology companies, the department’s antitrust chief, Makan Delrahim, said on Tuesday.

FILE PHOTO: Makan Delrahim, Assistant Attorney General of the Antitrust Division, U.S. Department of Justice, speaks at the 2019 Milken Institute Global Conference in Beverly Hills, California, U.S., April 29, 2019. REUTERS/Lucy Nicholson

Delrahim said at a tech conference in Colorado the government is looking at previously approved acquisitions as part of a broad antitrust review announced in July of major tech firms with significant market power.

“Those are some of the questions that are being raised … whether those were nascent competitors that may or may not have been wise to approve,” Delrahim said. “Whether the intention of the incumbent was to purchase some of those competitors, I don’t know. I’m not privy to the facts of each of those investigations.”

On July 23, the Justice Department said it was opening a broad investigation into whether major digital technology firms engaged in anticompetitive practices, including concerns raised about “search, social media, and some retail services online.”

That was an apparent reference to Alphabet Inc’s (GOOGL.O) Google, Amazon.com Inc (AMZN.O) and Facebook Inc (FB.O), and potentially Apple Inc (AAPL.O).

More than a dozen states are expected to announce in the coming weeks they are launching a formal probe, a person briefed on the matter told Reuters.

“I think it’s safe to say more than a dozen or so state attorneys general that have expressed an interest in the subject matter,” Delrahim said.

U.S. Representative David Cicilline, a Democrat who chairs a House panel that oversees antitrust issues, said on Tuesday, “Big tech platforms aren’t going to regulate themselves. I’m pleased that several state attorneys general are now conducting their own investigation into the dominance of these firms.”

In July, eight state attorneys general met with U.S. Attorney General William Barr to discuss the effect of big tech companies on competition, and various antitrust actions.

The New York Attorney General’s office said on Monday it is continuing to “engage in bipartisan conversations about the unchecked power of large tech companies.” North Carolina’s attorney general, Josh Stein, is also “participating in bipartisan conversations about this issue,” his office said.

The department is looking not only at price effects, but also innovation and quality, and the next steps in its broad antitrust review would be seeking documents and other information and could include some compulsory requests, Delrahim said.

After the July announcement the companies under investigation “immediately reached out to work with us in a cooperative manner to provide information that we need as far as the investigation,” Delrahim added.

The Federal Trade Commission in June told Facebook it had opened an antitrust investigation. Last month, the FTC resolved a separate privacy probe into Facebook’s practices after the company agreed to pay a $5 billion penalty.

Reporting by Katie Paul in Colorado, David Shepardson in Washington and Supantha Mukherjee in Bengaluru; Editing by Patrick Graham and Matthew Lewis

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UPDATE 2-U.S. Justice Department teams up with states on probe of Big Tech firms

ASPEN, Colo./WASHINGTON (Reuters) – The U.S. Justice Department is working with a group of more than a dozen state attorneys general as it moves forward with a broad investigation into major technology companies, the department’s antitrust chief, Makan Delrahim, said on Tuesday.

FILE PHOTO: Makan Delrahim, Assistant Attorney General of the Antitrust Division, U.S. Department of Justice, speaks at the 2019 Milken Institute Global Conference in Beverly Hills, California, U.S., April 29, 2019. REUTERS/Lucy Nicholson

Delrahim said at a tech conference in Colorado the government is looking at previously approved acquisitions as part of a broad antitrust review announced in July of major tech firms with significant market power.

“Those are some of the questions that are being raised … whether those were nascent competitors that may or may not have been wise to approve,” Delrahim said. “Whether the intention of the incumbent was to purchase some of those competitors, I don’t know. I’m not privy to the facts of each of those investigations.”

On July 23, the Justice Department said it was opening a broad investigation into whether major digital technology firms engaged in anticompetitive practices, including concerns raised about “search, social media, and some retail services online.”

That was an apparent reference to Alphabet Inc’s (GOOGL.O) Google, Amazon.com Inc (AMZN.O) and Facebook Inc (FB.O), and potentially Apple Inc (AAPL.O).

More than a dozen states are expected to announce in the coming weeks they are launching a formal probe, a person briefed on the matter told Reuters.

“I think it’s safe to say more than a dozen or so state attorneys general that have expressed an interest in the subject matter,” Delrahim said.

U.S. Representative David Cicilline, a Democrat who chairs a House panel that oversees antitrust issues, said on Tuesday, “Big tech platforms aren’t going to regulate themselves. I’m pleased that several state attorneys general are now conducting their own investigation into the dominance of these firms.”

In July, eight state attorneys general met with U.S. Attorney General William Barr to discuss the effect of big tech companies on competition, and various antitrust actions.

The New York Attorney General’s office said on Monday it is continuing to “engage in bipartisan conversations about the unchecked power of large tech companies.” North Carolina’s attorney general, Josh Stein, is also “participating in bipartisan conversations about this issue,” his office said.

The department is looking not only at price effects, but also innovation and quality, and the next steps in its broad antitrust review would be seeking documents and other information and could include some compulsory requests, Delrahim said.

After the July announcement the companies under investigation “immediately reached out to work with us in a cooperative manner to provide information that we need as far as the investigation,” Delrahim added.

The Federal Trade Commission in June told Facebook it had opened an antitrust investigation. Last month, the FTC resolved a separate privacy probe into Facebook’s practices after the company agreed to pay a $5 billion penalty.

Reporting by Katie Paul in Colorado, David Shepardson in Washington and Supantha Mukherjee in Bengaluru; Editing by Patrick Graham and Matthew Lewis

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Walmart sues Tesla over several solar panel fires caused by ‘negligence’

Malfunctioning Tesla solar panels started fires at “no fewer than” seven Walmart stores, resulting in hundreds of thousands of dollars in damage, the retail giant alleges in a new lawsuit filed in New York State Supreme Court Tuesday. The lawsuit was first reported by Bloomberg.

Walmart alleges that “years of gross negligence” and “failure to live up to industry standards by Tesla” sparked the blazes and led at least seven locations to close temporarily over the last seven years. Representatives for Tesla did not immediately respond to a request for comment.

Tesla has installed solar panels at more than 240 Walmart locations, but lawyers for the retailer write in the complaint that “the occurrence of multiple fires involving Tesla’s solar systems is but one unmistakable sign of negligence.” Walmart alleges in the suit that Tesla didn’t ground its systems properly, that the solar panels installed at Walmart sites were defective, and that Tesla didn’t keep proper documentation of the systems.

According to Walmart’s suit, the problems started with SolarCity before Tesla acquired the solar panel company in 2016. SolarCity had “adopted an ill-considered business model that required it to install solar panel systems haphazardly and as quickly as possible in order to turn a profit, and the contractors and subcontractors who performed the initial installation work had not been properly hired, trained, and supervised.”

Walmart claims that Tesla has failed to provide a complete set of “final ‘root cause’ analyses needed to identify the precise defects in its systems that caused all of the fires.”

“The number of defects, however, is overwhelming and plainly indicative of systemic, widespread failures by Tesla to meet the standard of care, as set forth in the governing contracts, as to the solar systems installed at Walmart’s stores,” lawyers for Walmart write.

Walmart says it “demanded” that Tesla disconnect all of its solar panels after three fires broke out in 2018 in Ohio, Maryland, and California. Tesla complied, according to the complaint, but Walmart says another fire broke out anyway at a second California store.

The news comes just a few days after Tesla relaunched the website for its residential solar program and announced a new rental option.

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After 50 Years, This Would-Be ‘Ferrari Killer’ Is Back: Say Hello to the New ATS GT – Robb Report

True connoisseurs of automobiles take years or even decades to acquire their level of discernment, appreciate proper historical content and context, and use these factors as guides for what to purchase. Then they often keep their cars for a good portion of their lives. Their knowledge of a particular marque’s story, its place in the big picture of automotive history, the pecking order of greatness in a manufacturer’s or coachbuilder’s models, and what really makes for exquisite design or engineering goes far beyond performance stats. It’s nuanced and complex, like a sophisticated palate, not merely an “I only drink first-growth Bordeaux” mind-set.

Which is all to say, the ATS GT is a true connoisseur’s car. Its beauty and subtlety are obviously appealing, as is the nameplate’s intriguing backstory. Automobile Turismo e Sport’s impact on the automotive history behind in 1963, when the original ATS road car disrupted the sports and gran truism scene. To put its degree of innovation into perspective, the ATS 2500 GT was the world’s first mid-engine, road-going supercar, beating the Lamborghini Miura to the punch by three years.

The 2500 GT’s story began two years before its debut, when Ferrari was dominating the competition headlines, winning both the 24 Hours of Le Mans and the endurance racing crown with a front-engine TR61, and the Formula 1 Drivers and Constructors championships with the mid-engine 156 F1. One would think those titles would have brought joyful celebration to the hallways of Maranello in late fall 1961. Instead, there was a collective gasp of shock when eight of Ferrari’s top executives and engineers abruptly exited the company en masse. (Whether they were fired, quit or were fired before they could quit is a matter of some hairsplitting.)

This type of rare occurrence is what really has lasting historic impact, deeper than which of today’s numbers cars wins the 0–60 or quarter-mile battle, or which one most recently set the quickest Nürburgring lap. In 12 to 18 months, these “stats cars” are yesterday’s news, while repercussions from events such as Ferrari’s Palace Revolt in 1961 last a decade or more.

The first ATS 2500 GT from 1963

The first ATS 2500 GT, from 1963.  Giorgio Nada Editore

ATS was one of that upheaval’s bigger outcomes. Four months after the walkout, exiled engineers Carlo Chiti and Giotto Bizzarrini, sales manager Girolamo Gardini and others rounded up three very wealthy backers (and Ferrari clients): industrialist Giorgio Billi, tin magnate Jaime Ortiz-Patiño and Scuderia Serenissima patron Count Giovanni Volpi. Together, they formed ATS on February 11, 1962. The company’s goal was to out-Ferrari Ferrari on the road and track. While the latter proved to be a pipe dream, the avant-garde 2500 GT was a true landmark machine.

Making its debut in March 1963, the supercar was the brainchild of Chiti and had a centrally mounted all-aluminum 2.5-liter V-8, 5-speed transmission, 150 mph top speed, disc brakes all around, rigid tubular chassis, independent suspension in the front and rear and so much more that it made Ferrari’s, Maserati’s and Aston’s road cars seem antiquated. The elegant coachwork was styled by Franco Scaglione and crafted by Carrozzeria Allemano, the former being as gifted and artistic as any designer. In addition to the 2500 GT, Scaglione’s résumé includes Alfa’s 33 Stradale, BAT (5, 7 and 9), two Sportivas and Sprint Speciale, plus Lamborghini’s 350 GTV and a number of others.

The idea was to promote ATS’s name through F1 and endurance racing, all while making the world’s most advanced road car. In September 1964, a 2500 GT was Road & Track’s cover story. Seasoned journalist Griff Borgeson summed up a spectacular drive and factory visit by observing, “I was haunted by the thought that what Bugatti was noted for in the past was here, brought fully up to date.” In an even more telling statement, he raved that the car’s “truly great performance” came from “brilliant design and not from brute strength.”

Emanuele Bomboi, left, and Daniele Maritan, the principals behind ATS’s revival

Emanuele Bomboi and Daniele Maritan, the principals behind ATS’s revival.  Winston Goodfellow

But that article’s realistic, glowing appraisal and the handful of 2500 GTs produced that year were insufficient to keep ATS in the game. Unfortunately, there was friction between the shareholders early on—Billi was self-made, Count Volpi an aristocrat—and that discord all but doomed the effort. Count Volpi was the wealthiest and most experienced in the automotive arena, and the first to go; Ortiz-Patiño soon followed him. While Billi was very successful and quite enthusiastic, he did not have the pocketbook or skill set to handle the whole enterprise. Exacerbating matters was the F1 team’s bad luck (a transporter crash, constant failures to cross the finish line and more) that seemed to dog the effort through the 1963 season. Those F1-team maladies soaked up cash and slowed the development and production of the 2500 GT.

By the time deliveries started in the second half of 1964, it was too little too late, and ATS was forced to shut its doors around the turn of the year. The company and the cars became the perfect “what if” fodder of… well, car connoisseurs. Today, examples of the beauties are rare and coveted. Collector Bruce Milner’s 1964 ATS 2500 GTS took best in show at The Quail, A Motorsports Gathering, in 2017. Recently, it reportedly sold for $3 million to another collector.

The new ATS GT is a marvelous modern rendition of the landmark 2500 GT. Daniele Maritan and Emanuele Bomboi are the forces behind the marque’s resurrection. Maritan is an amateur racer and successful entrepreneur, while Bomboi has lengthy experience in the coachbuilding industry that includes stints at Carrozzeria Bertone and Centro Stile Fiat.

The new Automobili Turismo e Sport ATS GT

Winston Goodfellow

On a private visit to the partners at their villa headquarters in the small village of Pombia, not far from Lake Maggiore in northern Italy, I hear how they came to resurrect the storied marque. As design director at Carrozzeria Viotti, Bomboi created the Willys AW380, a marvelous mid-engine prototype that would become the new Alpine A110. The AW380 was unveiled at 2014’s Bologna Motor Show, which is where the first seeds of the ATS revival were sown.

The two men had already crossed paths, but that Bologna show was the first time they really connected. As their friendship blossomed, their mutual interest in ATS—and tantalizing speculation about what could have been—came to the fore, and the two decided to collaborate on reviving the nameplate. Both savvy in production and design, they took the basic ATS recipe of an elegant, high-performance, mid-engine, two-seat coupe and adapted it to the 21st century.

Parked in the villa’s courtyard is the result of their labors: a harmonious, fluid silhouette possessing graceful proportions and soft curves that were clearly inspired by the original Franco Scaglione design. The following day, I am the first journalist to drive it, and it’s everything a modern supercar should be: loaded with bespoke design and engineering touches, comfortable and refined at low speeds, and a rocket ship when you put your foot in it. The suspension is compliant and communicative and the steering nicely weighted. You could easily use it every day, or have the perfect weekend escape toy.

The new Automobili Turismo e Sport ATS GT

Winston Goodfellow

Bomboi and Maritan have an excellent eye for detail, and speak of “a love of art forms and elegance.” It shows on this car, as one of their goals is to “bring true Italian beauty in design back to the roads.”

And that’s what I see in the GT. This isn’t some flashing neon sign that punches you in the face for attention. Instead, this is a car with inherent, timeless beauty. You gaze at it like an artwork, and each time you do, you notice something new.

Production has begun in ATS’s new atelier on the outskirts of Turin. There, the company is committed to providing buyers with fully bespoke models. Each is to be individually colorized so no two are alike. The interior has the same level of thoughtful, customized design, engineering and craftsmanship as the exterior. McLaren 650S’s drivetrain and platform not only bring reliability and refinement to the car but also eliminate the need for costly and time-consuming homologation.

The new Automobili Turismo e Sport ATS GT

Winston Goodfellow

But ATS didn’t stop at adopting McLaren’s technology and say the job was done. Instead, the team applied their talents to the entire power train and developed two versions of the twin-turbo V-8 with substantially more horsepower than the 650 found in the already quick 650S. The standard ATS GT’s 3.8-liter V-8 produces 730 or 830 hp, while the crazy 4.1-liter Tipo 4100 V-8 makes 900, 1,012 or 1,200 hp. And, like the 3.8-liter, it comes with a proper warranty.

Despite all these details, some will undoubtedly deride this custom-made machine because of its McLaren underpinnings. Yet few think twice about spending around double the ATS’s $900,000 to $1 million price for a Porsche restored by Singer Vehicle Design that is based upon a considerably more antiquated platform. The latter is heavily modified, the naysayers will declare. So is the ATS.

Which brings us back to the role of connoisseurs on the automotive scene. The ATS GT is a car for them, something with exquisite execution, timeless lines, impressive performance and true handcraftsmanship—all designed, developed and made in a dedicated factory. What remains to be seen is whether there are enough potential clients out there who are focused on more than this week’s “flavor,” simple statistics and blatant, “yes, you will stare at me” design. Let’s hope so.

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AI Frame of Mind: Neural Networks Bring Speed, Consistency to Brain Scan Analysis

In the field of neuroimaging, two heads are better than one. So radiologists around the globe are exploring the use of AI tools to share their heavy workloads — and improve the consistency, speed and accuracy of brain scan analysis.

“We often refer to manual annotation as the gold standard for neuroimaging, when it’s actually probably not,” said Tim Wang, director of operations at the Sydney Neuroimaging Analysis Centre, or SNAC. “In many cases, AI provides a more consistent, less biased evaluation than manual classification or segmentation.”

An Australian company co-located with the University of Sydney’s Brain and Mind Centre, SNAC conducts neuroimaging research as well as commercial image analysis for clinical research trials. The center is building AI tools to automate laborious analysis tasks in their research workflow, like isolating brain images from head scans and segmenting brain lesions.

Additional algorithms are in development and being validated for clinical use. One compares how a patient’s brain volume and lesions change over time. Another flags critical brain scans, so radiologists can more quickly attend to urgent cases.

SNAC uses the NVIDIA DGX-1 and DGX Station, powered by NVIDIA V100 Tensor Core GPUs,  as well as PC workstations with NVIDIA GeForce RTX 2080 Ti graphics cards. The researchers develop their algorithms using the NVIDIA Clara suite of medical imaging tools, as well as cuDNN libraries and TensorRT inference software.

Brainstorming AI Solutions

When developing medicines, pharmaceutical companies conduct clinical trials to test how effective a new drug treatment is — often using brain imaging metrics such as brain atrophy rates and lesion changes as key indicators.

To ensure accurate and consistent measurements, pharma companies rely on centralized reading centers that evaluate trial participants’ brain scans in a blind analysis.

That’s where SNAC comes in. It analyzes patient MRI and CT scans acquired at clinical sites around the world. Its expertise in multicenter studies makes it well-positioned to develop AI tools that address challenges faced by radiologists and clinicians.

With a training dataset of more than 15,000 three-dimensional CT and MRI images, SNAC is building its deep learning algorithms using the PyTorch and TensorFlow frameworks.

One of the center’s AI models automates the time-consuming task of cleaning up MRI images to isolate the brain from other parts of the head, such as the venous sinuses and fluid-filled compartments around the brain. Using the NVIDIA DGX-1 system for inference, SNAC can speed up this process by at least 10x.

“That’s no small difference,” Wang said. “Previously, this would take our analysts 20 to 30 minutes with semi-automatic methods. Now, that’s down to 2 or 3 minutes of pure machine time, while performing better and more consistently than a human.”

Another tool tackles brain lesion analysis for multiple sclerosis cases. In research and clinical trials, image analysts typically segment brain lesions and determine their volume by manually examining scans — a process that takes up to 15 minutes.

AI can shrink the time needed to determine lesion volume to just 3 seconds. That makes it possible for these metrics to be used in clinical practice as well, where due to time constraints, radiologists often simply eyeball scans to estimate lesion volumes.

“By providing quantitative, individualized neuroimaging measurements, we can help streamline and add value to clinical radiology,” said Wang.

The center collaborates with I-MED, one of the largest imaging providers in the world, as well as the computational neuroscience team at the University of Sydney’s Brain and Mind Centre. The group also works closely with radiologists at major Australian hospitals to validate its algorithms.

SNAC plans to integrate its analysis tools with systems already used by clinicians, so that once a scan is taken, it’s automatically routed to a server and processed. The AI-evaluated scan is then passed on to radiologists’ viewers — giving them the analysis results without altering their workflow.

“Someone can develop a fantastic tool, but it’s hard to ask radiologists to use it by opening yet another application, or another browser on their workstations,” Wang said. “They don’t want to do that simply because they’re time poor, often punching through a very large volume of clinical scans a day.”

Main image shows a side-by-side comparison of multiple sclerosis lesion segmentation. Left image shows manual lesion segmentation, while right shows fully automated lesion segmentation. Image courtesy of Sydney Neuroimaging Analysis Center. 

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Dealers help fleet managers promote EVs through ‘try before you buy’

Dealers are making it easier for fleet managers to promote the use of EVs in their fleets by offering ‘try before you buy’ options.

In a recent Venson survey, only 13% of motorists cited lack of ‘try before you buy’ options as an obstacle to purchase and only 5% of people surveyed said they are worried about manufacturer lead times in acquiring an EV.

The company believes that with charging and battery range concerns lessened by the growth of the UK’s charging infrastructure and technology improvements, EV fleets should now be far more appealing to businesses.

The revised BiK charges, which see zero-emission electric vehicle tax liability for company car drivers fall from 2% to 0% for the tax year 2020-21, will also appeal to company car drivers.

Alison Bell, Marketing director at Venson Automotive Solutions said: “While our survey findings confirm a greater willingness by company car drivers to adapt to an EV world, there are still some ownership concerns.

“41% of people we surveyed expressed concern over the practicalities of being able to charge their vehicle at home. And 30% said they had concerns over service, maintenance and repair costs.”

Drivers are also more clued in than before, with 86% of motorists surveyed said that a “lack of clarity in terms of ownership implications as a company car driver” is a thing of the past, and more than two thirds of drivers said that they had a good understanding of the costs and convenience of owning an EV.

However, the UK’s charging infrastructure still sparks concern for 69% of motorists.

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Tuesday Morning Auto News, Aug 20, 2019

Related

Original Article

UPDATE 1-U.S. DoJ antitrust chief says working with states on Big Tech probe

ASPEN, Colo./WASHINGTON (Reuters) – The U.S. Justice Department is working with a group of more than a dozen state attorneys general as it investigates the market power of major technology companies, the department’s antitrust chief, Makan Delrahim, said on Tuesday.

FILE PHOTO: Makan Delrahim, Assistant Attorney General of the Antitrust Division, U.S. Department of Justice, speaks at the 2019 Milken Institute Global Conference in Beverly Hills, California, U.S., April 29, 2019. REUTERS/Lucy Nicholson

Delrahim said at a tech conference the government is studying acquisitions by major tech companies that were previously approved as part of a broad antitrust review announced in July of major tech firms with significant market power.

“Those are some of the questions that are being raised … whether those were nascent competitors that may or may not have been wise to approve,” Delrahim said. “Whether the intention of the incumbent was to purchase some of those competitors, I don’t know. I’m not privy to the facts of each of those investigations.”

On July 23, the Justice Department said it was opening a broad investigation into whether major digital technology firms engaged in anticompetitive practices, including concerns raised about “search, social media, and some retail services online.”

That was an apparent reference to Alphabet Inc’s (GOOGL.O) Google, Amazon.com Inc (AMZN.O) and Facebook Inc (FB.O), and potentially Apple Inc (AAPL.O).

More than a dozen states are expected to announce in the coming weeks they are launching a formal probe, a person briefed on the matter told Reuters.

“I think it’s safe to say more than a dozen or so state attorneys general that have expressed an interest in the subject matter,” Delrahim said.

In July, eight state attorneys general met with U.S. Attorney General William Barr to discuss the effect of big tech companies on competition, and various antitrust actions.

The New York Attorney General’s office said on Monday it is continuing to “engage in bipartisan conversations about the unchecked power of large tech companies.” North Carolina’s attorney general, Josh Stein, is also “participating in bipartisan conversations about this issue,” his office said.

The department is looking not only at price effects, but also innovation and quality, and the next steps in its broad antitrust review would be seeking documents and other information and could include some compulsory requests, Delrahim said.

After the July announcement the companies under investigation “immediately reached out to work with us in a cooperative manner to provide information that we need as far as the investigation,” Delrahim added.

The Federal Trade Commission in June told Facebook it had opened an antitrust investigation. Last month, the FTC resolved a separate privacy probe into Facebook’s practices after the company agreed to pay a $5 billion penalty.

Reporting by Katie Paul in Colorado, David Shepardson in Washington and Supantha Mukherjee in Bengaluru; Editing by Patrick Graham and Matthew Lewis

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Max Life Insurance launches startup accelerator programme

Max Life Insurance Co. Ltd announced on Tuesday the launch of its startup accelerator programme – Max Life Innovation Labs. Under the Innovation Labs, the life insurer will invite disruptive startups and out of the box thinkers to partner with them in creating futuristic tech-based solutions for Max Life in a rapidly advancing life insurance industry.

As part of this Programme, the startups will help create solutions by leveraging new age technologies such as Artificial Intelligence, Blockchain, Internet of Things, Big Data to facilitate a host of services such as intelligent data acquisition and processing generated from online/offline sources, intelligent underwriting, intelligent agent/seller hiring, financial management and more.

The final selection of startups will be made on the basis of relevance to the shared focus areas, innovativeness of the solution, its feasibility and availability of appropriate skill set in the startup team.

Speaking on the occasion, Amrit Singh, Sr. Vice President and Head of Strategy, Max Life said, “With less than 3% life insurance penetration in the country, the sector in India presents immense opportunity to insurers to grow. At Max Life, we have worked with a large number of startups through the past few years to enhance customer experience. We are now taking our commitment to the next level, by introducing the Max Life Innovation Labs programme. Through this initiative, we hope to develop robust solutions, mentor and collaborate with start-ups and build greater synergies between traditional and new age models in the life insurance industry.”

The selected startups will receive benefits such as best-in-class mentoring and knowledge workshops from Max Life CXOs, as well as insurance ecosystem leaders and experts.

Further, exclusive benefits such as dedicated innovation work space across top startup hubs, technology support and infrastructure in the form of APIs and cloud access will also be available for the selected startups. Additionally, Max Life may also partner with them for applying to IRDAI’s recently launched Regulatory Sandbox with relevant solutions.

This article was first published on livemint.com

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