Monday Briefing: Bitcoin Risk, New Insurance App Launch, AI & More

A quick round up of news and comment from the world of insurance for you;

bitcoin investment fraud risk

Is Bitcoin a risk too far? Time will tell

The UK Daily Mail reports that big pension funds and investment arms are shunning Bitcoin, as fraud fears scare off corporate and sovereign wealth fund managers. Trevor Greetham at Royal London Asset Management is quoted as saying,

`Diversification is a goot thing but it doesn’t mean investing in everything because it’s there.’ Another, anonymous banking source described Bitcoin hedge funds as `a very controversial position.’

COMMENT – POWWOWNOW CTO URGES COMPANIES TO `EMBRACE AI’

ai-brain circuitry

AI is being used in fraud detection, claims, insurance admin tasks & more.

ITproPortal carries a thought piece today by Chris Martin from Powwownow, encouraging companies to get on board with Artificial Intelligence. Martin recommends that companies look at AI frameworks like TensorFlow, Torch, Caffe or Neon and predicts that AI will do the heavy lifting, the nuts and bolts admin tasks where machine learning currently excels.

Martin makes the crucial point that those companies who pioneer this tech will ensure that there is a human touch to big decisions. Read more here.

WRISK LOOKS TO LAUNCH NEW MACRO INSURANCE APP IN 2018

Wrisk insurance app to launch 2018 new products 2

New multi-platform Insurance App from Wrisk, is due to launch in 2018

Bdaily.co.uk reports that Wrisk, having successfully raised over £3 million in seed capital is looking to crowdfund another 500K to complete work on its new smartphone app.

The app, due to launch early in 2018 will allow users to manage all types of insurance, home, pet, motor etc from one interface. BMW Innovation Lab, Hiscox and Munich Re are amongst the development partners on the project.  More here.

TRAVEL INSURANCE SPECIALIST RE-BRANDS

Travel specialist Arnold Fisher has been absorbed into the James Hallam Group, reports travelweekly.co.uk. The re-brand is essentially a name change to help consumers identify James Hallam Travel and Tour as a distinct specialised supplier in the marketplace.

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