Guy Carpenter secures agreement to boost terrorism modelling capabilities

spike

Reinsurance specialist Guy Carpenter & Company, a subsidiary of Marsh & McLennan Companies, has entered into an exclusive multi-year agreement with technology and engineering company Synthetik to enhance its proprietary terrorism modelling product Sunstone.

Synthetik provides computational modelling for the global terrorism reinsurance market. The company specialises in explosive-blast and weapons-effects modelling, and works with both government bodies and the private sector to develop data-science applications, models and simulation code, Guy Carpenter said.

Synthetik is now incorporating its software into a terrorism insurance loss model. Its 3D blast-load calculation model has been applied to cityscape models in order to provide

Read More

COVID-19 delivers a boost to one form of insurance

spike

There are not many green shoots of hope for the insurance industry amid the coronavirus pandemic. Though many insurers have been able to save on reduced car insurance claims, others have faced a barrage of complaints over issues like business interruption cover – even though they may never have offered coverage for pandemics in the first place.

So then, perhaps it’s some small consolation for the industry that at least one product appears to have received a boost from the pandemic – warranty & indemnity (W&I) insurance in M&A.

According to brokerage giant Lockton, take up of W&I in M&A

Read More

Tesla cuts prices by as much as 6% in North America to boost demand

spike

BEIJING (Reuters) – Tesla Inc (TSLA.O) has cut prices of its electric vehicles by as much as 6% in North America following a decline in auto demand in the region during weeks of lockdown that have now started to ease.

FILE PHOTO: A Tesla logo on a Model S is photographed inside of a Tesla dealership in New York, U.S., April 29, 2016. REUTERS/Lucas Jackson

Tesla also said its Supercharger quick-charging service will no longer be free to new customers of its Model S sedans and Model X sport utility vehicles (SUVs).

Auto retail sales in the United

Read More

Exclusive: Baidu considers leaving the Nasdaq to boost its valuation – sources

spike

HONG KONG/BEIJING (Reuters) – Chinese search engine giant Baidu Inc (BIDU.O) is considering delisting from the U.S. Nasdaq and moving to an exchange closer to home to boost its valuation amid rising tension between the United States and China over investments, three sources said.

A worker wearing a face mask cleans the floor, near a Baidu AI robot which shows a face mask on its screen, at Baidu’s headquarters in Beijing, following the novel coronavirus disease (COVID-19) outbreak, China May 18, 2020. REUTERS/Tingshu Wang

Baidu, one of China’s earliest U.S. listings, is reaching out to some trusted advisers

Read More