Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Artificial Intelligence

UFCIC Becomes First U.S. Insurer to Accept Cryptocurrency for Premium Payments

Published

on

WATERFORD, Mich., June 22, 2021 (GLOBE NEWSWIRE) — Universal Fire & Casualty Insurance Company (UFCIC), a multi-line admitted property and casualty (P&C) insurance company and insurtech innovator, is pleased to announce the company is now the first U.S. insurer to accept cryptocurrency for premium payments.

Based near Detroit, UFCIC writes traditional P&C lines of business, including commercial property, general liability, inland marine, business owners’ policies (BOP), and commercial surety, and provides insurance solutions to small business owners throughout the U.S. Looking to increase the company’s competitive market position, John Lucker, EVP, chief strategy and analytics officer, and other UFCIC executives, turned to technology for an innovative advantage.

“Early in the development of UFCIC’s innovation plan it became evident that the use of crypto for mainstream customer insurance transactions was not a matter of if, but when,” said Lucker. “When we implemented our new direct online surety bond portal, cryptocurrency was a way to provide our customers with a broader and flexible array of convenient payment options that the marketplace is demanding.”

Today, UFCIC accepts a variety of cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash, and Litecoin, for premium payments for direct online license and permit bonds and other surety bond products. And, UFCIC’s customer payment transaction process is seamless through the portal with the monetary exchange facilitated automatically by UFCIC’s payment processor.

“The rollout of our new web-based direct surety platform, ufcbonds.com, enables customers to pay for surety bonds via ACH, credit card, and cryptocurrency,” said Rick Klimaszewski, president, COO, and general manager of UFCIC’s surety bond business. “While we are proud to be the first U.S. insurer to offer this capability, we aren’t sitting still. Going forward, we will continue expanding the menu of cryptocurrency options available for premium payment and customer convenience.”

Commercial lines P&C insurance is intensely competitive. As a result, UFCIC will continue to introduce and utilize a multi-pronged approach to operate at the forefront of the insurance marketplace and product innovation. UFCIC combines strategy and product differentiation, ease of doing business, customer service excellence, and cutting-edge technology, all key markers of leading insurtechs, to deliver a quality customer experience and speed-to-market.

“UFCIC is uniquely propelling itself forward as a multi-line, multi-product insurer by embracing innovative technologies, highly-responsive distribution options and customer service portals, unique product positioning, and advanced analytics leveraging predictive models, artificial intelligence (AI), and Big Data resources,” said Chris Timm, chief executive officer for UFCIC.

About UFCIC
Universal Fire & Casualty Insurance Company, founded in 2003, is a multiline admitted commercial lines property and casualty insurance company with primary offices in Waterford, Michigan and Columbus, Ohio. Guided by an entrepreneurial spirit, UFCIC provides innovative commercial insurance solutions to underserved small business commercial markets. We design our products intuitively and platform agnostic to accelerate high quality competitive underwriting decisions to our partners and customers. For more information, please visit www.ufcic.com.

Media Contact:
Jennifer Overhulse
St. Nick Media Services
859-803-6597 or [email protected]

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

EZVIZ unveils its groundbreaking H9c Dual-lens Smart Pan-and-tilt Camera series: a new paradigm for automated, all-round outdoor protection

Published

on

ezviz-unveils-its-groundbreaking-h9c-dual-lens-smart-pan-and-tilt-camera-series:-a-new-paradigm-for-automated,-all-round-outdoor-protection

By combining a pan-and-tilt panoramic lens and a fixed 180-degree wide-angle lens, one H9c Dual smartly secures large areas with performance better than that of two ordinary ones.
HOOFDDORP, Netherlands, May 6, 2024 /PRNewswire/ — EZVIZ, a leading global player in innovative smart home security, proudly introduces the H9c Dual series, its latest dual-lens outdoor pan-and-tilt cameras that redefine smart protection for homes and small businesses. With options in 2K and 3K resolutions, their groundbreaking design combines a sharp bullet camera and a flexible PT camera, addressing complex security needs effectively. The interlinked dual lenses work collaboratively to safeguard wide property areas, detect and track activities, and offer auto-patrol options for hands-free security.

“The H9c Dual challenges traditional outdoor cameras with unrivaled vision, unmatched automation, and high versatility for basically any scenario,” said Candice Tu, the lead product manager, “EZVIZ leads the way in the development and application of advanced dual-lens technology. This underlines our dedication to bringing cutting-edge technology within reach for practical, everyday situations.”
At the core of the H9c Dual is its groundbreaking dual-lens technology, highlighted by EZVIZ’s distinctive co-action function. The two lenses can work independently at two static viewing angles or act together as a team. When the fixed lens detects motions, the pan-and-tilt lens automatically rotates to track the same activity. This co-action function can also be manually controlled through the EZVIZ App.
The series addresses unnoticed blind spots by offering a 180-degree comprehensive view in a single frame, supplemented by the bottom PT lens for intricate close-ups. Both lenses, with high resolutions of 2K/3K, use built-in AI chips to detect people and vehicles in customizable zones, ensuring users are informed of crucial activities. Users can set up to four patrol spots for the PT lens to complete automatic rotations on a schedule.
Equipped with powerful LEDs, the H9c Dual provides color night vision up to 40 meters and warns potential trespassers with a loud siren and dazzling flashlight upon detection. Offering superior protection compared to a traditional two-camera system, the H9c is a breeze to set up thanks to its adaptable mounting design. Users can manage and control their H9c through the user-friendly EZVIZ App, and enjoy seamless integration with prevailing voice assistants and the larger EZVIZ ecosystem.
Learn more at www.ezviz.com.
Photo – https://mma.prnewswire.com/media/2404810/EZVIZ_H9c_Dual_Lens_Pan_Tilt_Wi_Fi_Camera.jpg

View original content:https://www.prnewswire.co.uk/news-releases/ezviz-unveils-its-groundbreaking-h9c-dual-lens-smart-pan-and-tilt-camera-series-a-new-paradigm-for-automated-all-round-outdoor-protection-302136133.html

Continue Reading

Artificial Intelligence

Red light therapy for repairing spinal cord injury passes milestone

Published

on

red-light-therapy-for-repairing-spinal-cord-injury-passes-milestone

BIRMINGHAM, England, May 6, 2024 /PRNewswire/ — Patients with spinal cord injury (SCI) could benefit from future treatment to repair nerve connections using red and near-infrared light.

The method, invented by University of Birmingham scientists and patented by University of Birmingham Enterprise, delivers light directly to the site of the injury. 
Their latest research, published in Bioengineering and Translational Medicine, determined an optimal ‘dose’ for this novel approach, and showed it can deliver therapeutic improvements including significant restoration of sensation and movement, and regeneration of damaged nerve cells. 
Researchers led by Professor Zubair Ahmed used cell models of SCI to determine the frequency and duration of light required to achieve maximum restoration of function and stimulate nerve cell regrowth. 
They found delivery at a wavelength of 660nm for one minute a day increased cell viability (the number of live cells) by 45% over five days’ treatment. 
Professor Ahmed said: “The effect of 660nm light was both neuroprotective, meaning it improved survival of nerve cells, and neuroregenerative, meaning it stimulated nerve cell growth.” 
The researchers also investigated the effect of light therapy in preclinical models of SCI, using an implantable device and transcutaneous delivery with the light source placed against the skin. They showed comparable results for both methods, with a one-minute dose of 660nm light, delivered daily for seven days resulting in reduced tissue scarring, increased levels of proteins associated with nerve cell regeneration, improvements in the connections between cells and significant functional recovery. 
This is the first time transcutaneous and direct light delivery have been compared in SCI. Professor Ahmed said: “To make light therapy viable for treating SCI in humans an implantable device will be required, to provide line of sight to damaged tissue and the opportunity for greater accuracy and standardise dosing without impedance due to the thickness of the skin and other tissues surrounding the spinal cord.”
The researchers are planning to develop an implantable device for use in humans with traumatic SCI. They have already received further funding and are seeking commercial partners or investors to develop a prototype device to take into first-in-man clinical trials.
Full release here. 
University of Birmingham Enterprise helps researchers turn ideas into products and services that meet real-world needs. Follow us on LinkedIn and X.
Photo: https://mma.prnewswire.com/media/2404909/University_of_Birmingham_Enterprise.jpg
Media enquiries: Ruth Ashton
Commercial enquiries: Veemal Bhowruth

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/red-light-therapy-for-repairing-spinal-cord-injury-passes-milestone-302136233.html

Continue Reading

Artificial Intelligence

TerraPay Continues to Attract Top Industry Talent, Names Hassan Chatila as Vice President and Global Head of Network

Published

on

terrapay-continues-to-attract-top-industry-talent,-names-hassan-chatila-as-vice-president-and-global-head-of-network

LONDON, May 6, 2024 /PRNewswire/ — TerraPay, a leading global money movement company, is excited to announce the appointment of Hassan Chatila as Vice President – Global Head of Network.

This key addition to TerraPay’s global network leadership also marks a critical step in the company’s ongoing strategy to simplify and streamline global money movement for businesses and individuals alike, underscoring its commitment to enhancing its network capabilities.
With over 20 years of experience in the cross-border payments, Hassan brings with him a rich legacy of leadership and innovation. Before joining TerraPay, he served as the Global Head of Western Union’s Account Payout Network, where he played a pivotal role in expanding and optimizing the network to support seamless global transactions. His impressive career portfolio also includes key leadership roles at Earthport and Temenos, where he led significant payments transformation initiatives and drove substantial growth.
In this new role at TerraPay, Hassan will lead the expansion and optimization of TerraPay’s global payout network. He will work closely with internal and external stakeholders to enhance the network’s capabilities, ensuring that TerraPay continues to offer its partners transparent and efficient payment solutions.
Welcoming Hassan to the team, TerraPay Founder and CEO, Ambar Sur, said, “It gives me great pleasure to welcome Hassan on board. As an industry expert, he comes with a highly reputable cross-border payment expertise and deep leadership experience. On TerraPay’s journey of growth, Hassan’s appointment is a critical step in furthering our network expansion goals. I look forward to working together and further deepen TerraPay’s position as a global money movement leader.”
Hassan Chatila, VP – Global Head of Network, TerraPay, commented on his new role, saying, “I am thrilled to join TerraPay at this pivotal time. Over the years, TerraPay has built an expansive global money movement network driven by the mission to build a borderless world of payments. I look forward to leveraging my experience to further develop our network capabilities, create new opportunities across markets and help TerraPay achieve its ambitious goals.”
For media inquiries, please contact [email protected]
About TerraPay
TerraPay simplifies global money movement – by providing a single connection to the most expansive cross-border payments network regulated in 31 global markets and enabling payments to 144 receive countries, 210+ send countries, 7.5Bn+ bank accounts and 2.1Bn+ mobile wallets. TerraPay is on a mission to connect a borderless financial world, making moving money everywhere instant, reliable, transparent and fully compliant. TerraPay pushes the boundaries for global businesses – ranging from banks, fintechs and money-transfer operators to travel businesses, creator economy platforms and e-commerce marketplaces – while driving financial inclusion in even the most inaccessible markets. Founded in 2014, TerraPay is headquartered in London, with global offices in Bangalore, Dubai, Miami, Bogota, Dar es Salaam, Kampala, Hague, Dakar, Joburg, Nairobi, Milan, Singapore and is expanding rapidly, having received funding from leading investors, including the IFC (the World Bank), Prime Ventures, Partech Africa and Visa.
Logo: https://mma.prnewswire.com/media/1222771/TerraPay_Logo.jpg
 

View original content:https://www.prnewswire.co.uk/news-releases/terrapay-continues-to-attract-top-industry-talent-names-hassan-chatila-as-vice-president-and-global-head-of-network-302135445.html

Continue Reading

Trending