Artificial Intelligence
The global cyber insurance market size in the post-COVID-19 scenario is projected to grow from USD 7.8 billion in 2020 to USD 20.4 billion by 2025, at a CAGR of 21.2%
New York, Oct. 21, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Cyber Insurance Market by Component, Type, Coverage, Organization Size, End User And Region – Global Forecast to 2025” – https://www.reportlinker.com/p05977659/?utm_source=GNW
• By insurance coverage, the cyber liability segment expected to hold a larger market size in 2025
Cyber risk insurance or cyber liability insurance coverage helps an organization cover the cost to recover from a data breach, virus, or other cyber-attacks.Cyber liability insurance covers expenses related to first parties and also third-party claims.
The cyber insurance policy covers some reimbursable expenses such as investigation, business losses, lawsuits and extortion, and privacy and notification.The growing sophistication of cyber-attacks and stringent regulatory mandates persuade enterprises to proactively adopt cyber insurance solutions.
Cyber liability coverage policies can assist insurers to offer first party and third part cyber coverage to prevent from the post effects of a security breach that could result in critical business losses.
Key vendors offering various types of cyber insurance solutions include Allianz Group, AIG, Chubb, Aon, Zurich, AXA, and Berkshire Hathaway, among others
APAC to register the highest growth rate during the forecast period
Asia Pacific (APAC) comprises of emerging economies, such as Australia and New Zealand, China, Singapore, and Japan, with developed security infrastructure.Machine Learning (ML), Internet of Things (IoT), big data analytics, and Artificial Intelligence (AI) are emerging methodologies that are being deployed in this region.
APAC is home to large number of established Small and Medium-sized Enterprises (SMEs), which are growing at laudable pace to cater to their large customer base.SMEs are rapidly adopting cyber insurance solutions to manage their enterprise data.
Despite the growing importance of SMEs in this region, they are most affected mostly by cyber and malware attacks owing to budgetary constraints and resource shortages.
• By Company Type: Tier 1 – 55%, Tier 2 – 27%, and Tier 3 – 18%
• By Designation: C-level – 33%, D-level – 25%, and Others – 42%
• By Region: North America – 38%, Europe – 14%, APAC – 19%, RoW – 29%
The technology vendors covered in the cyber insurance market report include BitSight (US), Prevalent (US), RedSeal (US), SecurityScorecard (US), Cyber Indemnity Solutions (Australia), Cisco (US), UpGuard (US), Microsoft (US), Check Point (US), AttackIQ (US), SentinelOne (US), Broadcom (US), Accenture (Ireland), Kenna Security (US), Cylance (US), FireEye (US), CyberArk (US), CYE (Israel), SecurIT360 (US), and Founder Shield (US).The insurance vendors covered in the cyber insurance market are Allianz (Germany), AIG (US), Aon (UK), Arthur J.
Gallagher & Co (US), Travelers Insurance (US), AXA XL (US), AXIS Capital (Bermuda), Beazley (UK), Chubb (Switzerland), CNA Financial (US), Fairfax Financial (Canada), Liberty Mutual (US), Lloyd’s of London (UK), Lockton (US), Munich Re Group (Germany), and Sompo International (Bermuda). The startup vendors covered in the cyber insurance market are At-Bay (US), Cybernance (US), CyberCube (US), Coalition (US), Arceo.ai (US), Kovrr (Israel), Sayata Labs (Israel), Zeguro (US), RiskSense (US), Cyence (US), SafeBreach (US), and Cronus Cyber Technologies (Israel). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their footprint in the cyber insurance market.
Research Coverage
The market study covers the cyber insurance market size across different segments.It aims at estimating the market size and the growth potential across different segments, including application, service model, security type, organization size, vertical, and region.
The study further includes an in-depth competitive analysis of the leading market players, along with their company profiles, key observations related to product and business offerings, recent developments, and market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the global cyber insurance market and its subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies.
Moreover, the report will provide insights for stakeholders to understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05977659/?utm_source=GNW
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Artificial Intelligence
Dongfa Group’s Gas Scenario + Digital Twin Technology, Leads the Industry with New AI Trend
–Highlights of the 2024 Exhibition
SHANGHAI, May 23, 2024 /PRNewswire/ — From May 17 to 19, 2024, China(Shanghai) International Metrology Measurement Technology and Equipment Exhibition was held at the Shanghai World Expo Exhibition and Convention Center. Dongfa Group participated in the exhibition, showcasing its latest research achievements. At the expo, Chairman Liu Ming of Dongfa Group conducted the lighting ceremony and announced the official launch of the “Smart Gas Comprehensive Supervision Platform,” demonstrating the convenience and efficiency achieved through the smart management of municipal gas meters.
Dandong Dongfa (Group) Co., Ltd., established in 1962 and headquartered in Singapore, was formerly known as Dandong Thermal Instrument Co., Ltd. As an integrated group company engaged in research, production, and operations, Dongfa Group is dedicated to the development and application of instruments and meters. Its product range includes IC card gas meters, wired direct-reading remote diaphragm gas meters, wireless direct-reading remote diaphragm gas meters, NB-IoT IoT meters, and ultrasonic gas meters. These products incorporate the technical features of similar domestic and international products, offering high accuracy, reliability, and stability, making the company a leading smart gas meter manufacturer in China.
At the expo, Dongfa Group showcased its Smart Gas Comprehensive Supervision Platform, which integrates AI, IoT, cloud computing, and big data. This platform connects the topological structure of all aspects of gas operations and consolidates all relevant data involved in production management and operation maintenance. This integration enhances the comprehensive research and development and operational maintenance capabilities of the big data governance system.
At the same time, Dongfa Group is empowering comprehensive management and control with digital twins, AI, and big data. By leveraging digital twins, AI models, and 5G technology as data elements, the company is constructing a unified citywide network and a digital twin map of the gas pipeline network. This enables deep integration of AI monitoring, pressure and leakage detection, smart terminals, and other sensing devices with gas operations, ensuring the comprehensive safety and supply of urban gas.
Digital twin gas technology not only provides auxiliary support for pipeline design, but also plays a crucial role in intelligent emergency response and precise distribution. Especially in the operation of gas stations, it enables comprehensive real-time monitoring, intelligent integrated operation scheduling, proactive warning, emergency event command plans, and other effects, thereby improving the efficiency and safety of gas management.
However, there have been numerous incidents of data leakage involving smart AI devices in recent years. Sensitive data is being collected or even sold by malicious actors, leading to the disclosure of confidential information, resulting in significant economic losses and even legal risks.
To ensure the security of both enterprise and user data, Dongfa Group utilizes Digital Envelope technology to encrypt and decrypt data packets during data collection and distribution. This approach combines the advantages of both symmetric and asymmetric encryption technologies for secure information transmission, enabling fast, efficient, and secure encryption and decryption processing for the smart gas digital business sector. This ensures the security and integrity of data during transmission.
Visitors at the expo showed strong interest in the new products and technologies exhibited by Dongfa Group. Dongfa Group has always been committed to driving the development of the smart instrumentation industry through technological innovation. Through this exhibition, the company not only showcased its technical prowess but also strengthened communication and collaboration with industry peers. Looking ahead, they aim to join hands in opening a new chapter in the smart instrumentation industry.
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View original content:https://www.prnewswire.co.uk/news-releases/dongfa-groups-gas-scenario–digital-twin-technology-leads-the-industry-with-new-ai-trend-302153974.html
Artificial Intelligence
QNAP S3-compatible Storage Solution “QuObjects” Certified as Veeam® Ready – Object with Immutability
TAIPEI, May 23, 2024 /PRNewswire/ — QNAP® Systems, Inc., a leading computing, networking, and storage solution innovator, today announced that its S3-compatible object storage solution “QuObjects” has qualified as Veeam® Ready – Object with Immutability, applicable for QNAP NAS with QTS and QuTS hero operating systems. This certification underscores the reliability of QuObjects as a secure object backup solution for enterprises, enhancing data management efficiency and upmost security.
QuObjects is the S3 object storage solution for QNAP NAS, boasting read/write speeds 20 times faster than conventional cloud services, along with a highly flexible and scalable architecture to ensure efficient transmission and flexibility in object storage. From object service development to demanding workloads like machine learning and data lakes, QuObjects assists enterprises in achieving diverse application needs with higher cost effectiveness.
QuObjects supports Object Lock to ensure data immutability, further safeguarding against ransomware threats, cyberattacks, or human error. Coupled with access controls and authentication features, it provides comprehensive protection for object data security.
Jimmy Tam, Product Manager of QNAP, stated “Data security is critical for enterprises. With QuObjects certified by Veeam Ready – Object with Immutability, we empower organizations leveraging Veeam solutions to confidently opt for QNAP NAS for on-prem S3 object storage and backup, enjoying rapid transmission, extensive scalability, and steadfast security.”
QNAP is the preferred partner for Veeam object backup solutions. Learn more at Veeam Ready Object Partner and QNAP QuObjects- S3 Object Storage.
For more information and to view the full QNAP NAS lineup, please visit www.qnap.com.
Photo – https://mma.prnewswire.com/media/2413244/PR_image_QNAP_x_Veeam_Ready_en.jpg
View original content:https://www.prnewswire.co.uk/news-releases/qnap-s3-compatible-storage-solution-quobjects-certified-as-veeam-ready–object-with-immutability-302148872.html
Artificial Intelligence
Tencent Announces Winners of Flagship CarbonX Program to Combat Climate Change
SHENZHEN, China, May 23, 2024 /PRNewswire/ — Tencent (00700.HK) is awarding 13 exceptional teams that won the first phase of its groundbreaking CarbonX Program, which is aimed at boosting promising new climate technologies. The winners, which emerged from a pool of 30 finalists and more than 300 initial applications, will receive a total of around RMB 100 million (US$14 million) in financial support from Tencent. It showcases the company’s commitment to driving sustainable social innovations in the fight against climate change.
CarbonX was launched in March 2023 to advance the next generation of low-carbon technologies. Tencent has committed RMB 200 million (US$28 million) in catalytic funding over the next three years to innovative ideas that might otherwise languish or fail to gain traction.
CarbonX’s first phase focused on carbon capture, utilization, and storage (CCUS), as well as technology-based carbon removal. These solutions were chosen for their unique ability to curb emissions from hard-to-abate industries such as steel and cement, mitigate the continued reliance on fossil fuels, and reduce legacy emissions created from decades of industrialization.
Backed by Tencent’s mission of Tech for Good and an alliance of like-minded industry partners, CarbonX aims to help these cutting-edge technologies make the leap from the research or early startup stage to commercial scale. The ultimate goal is supporting them in making a significant impact toward the targets outlined in the Paris Agreement, which includes a 45 percent reduction in emissions by 2030 and achieving net-zero emissions by 2050.
Dr. Hao Xu, Tencent’s Vice President of Sustainable Social Value and Head of Tencent’s Carbon Neutrality Lab, said: “Technology innovation serves as the driving force to accelerate our progress toward achieving carbon neutrality. CarbonX program is aimed at fostering the growth of these technologies, driving positive impact across society, and laying the groundwork for a more sustainable future.”
Professor Jerry Yan, Chair Professor of the Hong Kong Polytechnic University and Co-chairman of the CarbonX expert committee, said: “To pave the path for a greener economy, we must champion the development of cutting-edge low-carbon technologies. Just as solar and wind power were nurtured in their infancy, emerging solutions like CCUS and tech-based carbon removal demand our early support.”
The program assembled a panel of experts from academia, industries, and the investor community as the jury, and welcomed submissions from diverse participants across three distinct tracks:
CarbonX Lab: Designed to incubate research institutions, universities, or labs that bring in game-changing climate solutionsCarbonX Accelerator: Designed to accelerate the growth of climate-tech startups that exhibit commercialization potentialCarbonX Infrastructure: Designed to support capacity building to facilitate industry developmentThe finalists comprise four projects from the Lab track, six from the Accelerator track, and three from the Infrastructure track. These projects explore innovative solutions, such as using steel slag to capture and store carbon directly from furnace exhaust, converting CO2 into sustainable aviation fuel and valuable chemicals through electrochemical reactions or microorganisms, and employing new approaches to directly capture CO2 from the atmosphere with the hope of slashing the cost to less than US$150 per ton.
Meanwhile, Tencent is also collaborating with Tsinghua University to develop a comprehensive system of Measure, Reporting and Verification (MRV) tools to accurately gauge progress toward decarbonization.
Aside from receiving financial and advisory support, several projects will also have the opportunity to collaborate with industry partners and test their research beyond the laboratory setting.
Building upon the success of the first phase, Tencent is poised to launch the second iteration of CarbonX globally as early as later this year in pursuit of early-stage climate tech innovation.
View original content:https://www.prnewswire.co.uk/news-releases/tencent-announces-winners-of-flagship-carbonx-program-to-combat-climate-change-302153596.html
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