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Vitesse, a global treasury and payment provider for the insurance industry, and Five Sigma, an AI-native claims management technology company, have announced a strategic partnership aimed at modernising claims payouts.The collaboration comes at a time when insurers are under pressure to upgrade their claims and payment infrastructure to enhance efficiency and compliance, according to FF News.The partnership integrates Five Sigma’s claims management platform, which leverages AI to automate and streamline claims handling, with Vitesse’s real-time payment infrastructure.This combination enables insurers, managing general agents (MGAs), and third-party administrators (TPAs) to automate claims payments, improve claimant experience, and ensure regulatory compliance.Five Sigma’s…

Australia’s financial crime compliance framework is set for significant updates as the Australian Transaction Reports and Analysis Centre (AUSTRAC) rolls out a new set of proposals aimed at refining the country’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) rules.According to Napier AI, these changes follow the AML/CTF Amendment Act 2024 and are designed to align with global standards set by the Financial Action Task Force (FATF).Under the new consultation, AUSTRAC plans to streamline the AML/CTF rules into two main categories: General Rules, which cover core AML/CTF obligations, and Exemption Rules, which address specific exemptions. This restructuring is intended to simplify the…

President Donald Trump’s tariffs on the imports of steel and aluminium by the United States are sending shockwaves through global markets and escalating tensions with key trading partners, including Canada, Mexico and the European Union. Some countries are fighting back with retaliatory tariffs, others are seeking exemptions, and a few are trying to negotiate their way out of the 25 percent tariffs. So, who is escalating the trade war, who is trying to avoid it, and what does this mean for the industries that rely on these metals? Who supplies steel and aluminium to the US? Canada, Brazil, and Mexico…

Corned beef, which makes an appearance on many St. Patrick’s Day tables, isn’t the only food to which “corning,” or salt-curing, can be applied. Corning originally was named for the corn kernel-size pellets of salt used to preserve meat in times before refrigeration, but the method today is used to permeate food with flavor.For a vegetable-forward take on the classic boiled dinner, we submerge a whole head of cauliflower in a spice-infused brine for several hours, allowing thorough absorption. Salt also weakens the cellular walls of the vegetable by drawing moisture out of them, rendering the vegetable more tender.To ensure…

WASHINGTON (AP) — The FBI is warning Americans not to respond to scam road toll collection texts after receiving more than 2,000 complaints this month.The texts impersonating state road toll collection agencies attempt to get phone users to reveal financial information, such as credit or debit cards or bank accounts.They’re so-called smishing scams — a form of phishing that relies on SMS texts to trick people into sending money or share sensitive information.The FBI says the texts are moving from state to state and use nearly identical language falsely claiming that recipients have an unpaid or outstanding toll that could…

ROME (AP) — Donatella Versace has been replaced as creative director of the fashion house founded by her late brother Gianni Versace, assuming the new role of chief brand ambassador, Versace’s U.S. owner Capri Holdings announced on Thursday.Versace will be replaced by Dario Vitale, who most recently was design director at the Miu Miu brand owned by the Prada Group. His appointment is effective on April 1.The creative shift comes amid speculation that the Prada Group is in talks to buy Versace from Capri Holdings, which paid 2 billion euros (currently $2.2 billion) for the fashion house in 2018. The…

AI in insurance market is expected to grow from $8.13bn in 2024 to $141.44bn by 2034, driven by investments in AI-powered risk assessment and automationAI is transforming underwriting, claims processing, and fraud detection, with productivity having increased and operational costs expected to drop by 40% by 2030AI-driven personalisation remained in high demand, with 80% of consumers preferring tailored insurance servicesAI in insurance market is expected to grow from $8.13bn in 2024 to $141.44bn by 2034, driven by investments in AI-powered risk assessment and automationAccording to the Artificial Intelligence (AI) in Insurance Market report by Precedence Research, the market is set…

NASHVILLE, Tenn. (AP) — They called it the “monkey trial.” It was supposed to be a publicity stunt. A hundred years later, it is remembered as far more.In March 1925, Tennessee became the first state in the country to ban the teaching of evolution in public school classrooms. Strong reactions rippled across the United States. The eventual upshot: a legal battle that became one of the most renowned in the nation’s history.Historians say the trial started as a tourism gambit on behalf of the small town of Dayton, Tennessee — where the landmark case unfolded. The town’s leaders were eager…

Majority of Americans disapprove of Trump’s economic management amid stock market turmoil, polls show.United States President Donald Trump’s handling of the economy is facing growing pushback from Americans amid wild swings in the stock market and growing fears of a recession, new polling shows. In a CNN/SSRS poll released on Wednesday, 56 percent of respondents said they disapproved of Trump’s economic management – higher than at any point during his first term in office. The poll had better news for Trump on his other signature issue of immigration, with 51 percent of respondents expressing support for his strict enforcement policies.…

Taipei, Taiwan – Until recently, Southeast Asia’s Mekong sub-region seemed to be on track to reach its goal of eliminating malaria by 2030. Named for the 4,900-kilometre (3,000-mile) river that runs from southwest China through Myanmar, Thailand, Cambodia, Laos and Vietnam, the area has long been afflicted by the mosquito-borne illness. From 2010 to 2023, the number of cases caused by the most common malaria parasite declined from nearly half a million to fewer than 248,000, according to the Global Fund, a United States government-funded organisation that is the world’s largest financier of programmes to prevent, treat and care for…