ICICI Lombard Introduces Cyber Insurance Cover for Individuals

In these unprecedented times owing to the COVID-19 crisis, remote working has become the new normal. Since the lockdown was announced, like everywhere else, S. Mohan’s company too announced remote working. Before everything shut down, Sameer wanted to buy a laptop, since his device was faulty. He kept browsing different websites to find a good deal for the new laptops. One day, he got a mail offering an unbelievable deal on his favorite brand.  However, buying the laptop needed his credit card information. Since the website offered home delivery within 48 hours (even in the lockdown) he made an impulsive purchase through his credit card. Next morning Mr. Mohan woke up to a message from his bank stating that he has surpassed his credit card limit which was around INR 3, 00,000. When he opened the mail again, the ‘page was not found’. It then dawned upon Mr. Mohan that he has fallen prey to online fraud. He had lost approx. INR 3, 75,000 in a single night. He could do nothing about it as he did not have any protection to see him through.

To help customers overcome such tragedies, ICICI Lombard General Insurance, India's leading private sector non-life insurance company, announced the launch of its Retail Cyber Liability Insurance policy. This policy offers complete protection to individuals and their families against any cyber frauds or digital risks that could result in a financial or reputational loss. The retail cyber insurance product is a form of insurance that protects individuals against losses that individually vary from online theft to unauthorized transactions.

India is one of the most prominent digital markets, with a vast potential for exponential growth. Data shows on a country level; we have over  560 mn internet subscribers and over 350 mn social media users. India is the second-largest App Market by Download and has over 180 Mn+ e-commerce users. When it comes to phone-based transactions, we have over INR 1 Trillion UPI transactions.  This lays the ground for a huge potential for cyberattacks. Undoubtedly, and this opportunity is followed by the menace of cyber risks and frauds which, too, have been growing considerably. Research shows that:

* Cyber-attacks have soared 86% in the four weeks roughly between March and April & overall 37% in first quarter of 2020

* Hackers based in China attempted over 40,300 cyber-attacks on India in 3rd week of week of June, mostly covid-19 based scams. The attacks aimed at causing issues such as denial of service, hijacking of Internet Protocol and phishing

* Rs 1.24 trillion is the amount lost in India in the past 12 months due to cybercrime.

* 131.2 million is the number of cybercrime victims in India in 2019 & 63% of them were impacted financially

According to the Internet Crime Report for 2019, released by FBI's Internet Crime Complaint Centre (IC3), India ranks third among the top 20 countries that are victims of cybercrimes. Going by this data, we are at a high risk of exposure, and personal cyber insurance seems the only respite.

The company's product is designed to secure the digital world against losses in the event of a cyberattack. The coverage will include protection against:

* Identity theft

* Cyber-bullying

* Cyber extortion

* Malware intrusion

* Financial loss due to unauthorized and fraudulent use of bank account, credit card and mobile wallets

* Legal expenses arising out of any covered risk

ICICI Lombard has Innovated by Covering Newer Threats Such As

* Reputation injury - all the expenses incurred in restoring digital reputation with means of removal of the harmful publication from the internet can also be claimed.

* Individual lost wages – if someone loses wages that would have been otherwise earned, for the time necessarily taken off from work to rectify facts arising out of any covered risk can also be claimed

The policy can be purchased at an affordable rate by all digitally active individuals. The premium ranges from INR 6.5 per day to INR 65 per day. The Sum Insured for the cover ranges from INR 50,000 to INR 10,000,000 as opted by the policyholder. The policy provides coverage to the entire family, including children for a duration of 1 year.  

Speaking on the launch, Sanjay Datta, Chief - Claims, Underwriting and Reinsurance said, "We are living in a digital world where data is being engendered, transmitted and deposited every nanosecond. Today, data is gold. And, to protect it, is paramount. While we live a digital life, the risks of cyberattacks have also grown exponentially. Our new product comes at an opportune moment when everybody is working remotely, using social media and net banking and is digitally active. The product is designed to protect individuals against the dangers that come with the connected life like cyber-bullying, identity theft and more. The policy asserts the company's pledge to provide innovative new-age risk solutions to our customers while protecting their reputation, prospective data breaches and losses in case any vital information is stolen or abused."

ICICI Lombard's commitment to providing the best for its consumers reflects through these offerings and more which ensure that the policyholders are stress-free while they work from home and even after. True to its ethos of "Nibhaaye Vaade" (Keeping Promises), ICICI Lombard always aims at being ahead of the curve to provide the customers with innovative and unique products against the new risks.

For more information on the policy and the full range of ICICI Lombard’s Insurance portfolio please visit the website www.icicilombard.com for further details on risk factors, exclusions, terms and conditions.

About ICICI Lombard General Insurance Company Ltd

We are the largest private sector non-life insurer in India based on gross direct premium income in fiscal 2020 (Source: IRDAI). We offer our customers a comprehensive and well-diversified range of products, including motor, health, crop, fire, personal accident, marine, engineering and liability insurance, through multiple distribution channels. 

Is Intel set to acquire two software firms?

Intel has quietly snapped up two software companies in the last 30 days with aim of boosting development of applications that take better advantage of chips with more than one processing core.

In a company blog, the chipmaker indicated the acquisition of Cilk at the end of last month and then Rapidmind earlier this week. Both are small companies that employ under than 50 people. The acquisitions follow the purchase of software company Wind River Systems in June.

"Over the last few years, there has been a gradual emergence of multicore microprocessors. It's put parallelism in more and more machines," James Reinders, chief evangelist and director of marketing and sales at Intel, said in a phone interview Friday, explaining why Intel bought the two firms.

"If you look at traditional applications, ones that we use everyday, it's fair to say that most are not exploiting parallelism--at least not to the full extent," Reinders said.

A multicore processor is defined as any chip with more than one processing core. Today, almost all Intel chips that go into laptops, desktops, and servers have at least two cores. The challenge for Intel is to make sure that applications take advantage of all the cores--so-called parallelism. This has historically presented a challenge for software programmers.

"The operating system does stuff for applications in parallel," Reinders said, referring to operating systems such as Windows. "But considering that we can produce more and more cores every year, to truly get the benefit of what the future holds, applications need to change. And most applications haven't changed," he said.

The goal is to facilitate the development of parallel programming. "How do we help software developers tackle parallel programming? Both companies had teams of experts that had been focused on this problem. So, they're kindred spirits," he said.

Writing about Cilk in a blog, Reinders said Intel sees "great opportunities for Cilk to integrate with our parallel tools...including Intel Parallel Studio." The firm's technology enables "mainstream programmers to develop multithreaded (or parallel) applications...Providing a smooth path to multicore for legacy (older) applications that otherwise cannot easily leverage the performance capabilities of multicore processors," according to Cilk's Web site. Original Cilk research was done at MIT.

Rapidmind was founded five years ago as Serious Hack and grew out of work at the University of Waterloo. It boasts advanced technology for helping software developers with data parallel programming for multicore processors and accelerators.

The cost of the two acquisitions was not disclosed.

CNET.com

Has HP retained No 1 position in the Indian PC market?

Hewlett-Packard (HP) improved its market share in the first quarter to continue its lead in the India PC personal computer (PC) space, according to technology research firm IDC.

HP captured 18.2% of the India PC market in terms of unit shipments in the January-March period, an IDC India report said. The PC maker had a 15.6% share in the previous (October-December) quarter. HP has been numero uno in the India PC market consistently every quarter over the past four years. With a market share of 9.8% in overall PC shipments, HCL Infosystems regained the second spot, after losing out to Dell in the October-December quarter. Dell slipped back to the third spot with a share of 9.7% in the first quarter this year, IDC said in a release.

The India PC market witnessed a 7% quarter-on-quarter growth in shipments in Q1 of 2009. A total of 16.79 lakh units of desktops and laptops were shipped during the January-March quarter of 2009.

Desktop PC shipments of 12.13 lakh registered a sequential growth of 9%, while laptop shipments of 4.66 lakh units grew 3% QoQ.

The research firm said the market share, over the next two quarters, would depend on how well PC vendors capitalise on opportunities in the consumer, education and government segments in India.

In Q1 2009, fourth-placed Acer’s market share dipped marginally to 7.3%. Fifth-ranked Lenovo showed a more pronounced drop — its share came down to 4.7% in Q1 2009 from 6.6% in the previous quarter.

“Moving forward, hardware in general, and PC shipments in particular, will continue to remain under pressure. Winners would gain market share and improve profitability through the right price/volume mix and optimal exploitation of supply chain efficiencies,” IDC India country manager Kapil Dev Singh said.

Economictimes

New lighter, power-saving Intel chips for laptops

Intel Corp has launched a lighter, power-saving microprocessor intended for use in ultra-thin laptops, a move by the top chip
maker to shore up its lead in mobile computing.

The new processor, dubbed the Pentium SU2700, comes amid investors' fears that cheaper processors such as the Atom, designed for use in ultra-cheap netbooks, are cannibalizing the market share for higher-margin, more expensive chips.

Acer and Asustek have said they will build laptops with the chip, and Microsoft will ensure its software supports it.

Intel expects that by the fourth quarter of 2009, about a fifth of its consumer shipments will be for the new-generation laptops, slimmer and more energy-efficient.

Intel is upbeat on the ultra-thin market and expects "explosive growth in 2009, very similar to the netbook growth," Intel's director of mobile platforms product marketing Uday Marty said on a conference call.

Asutek, which in 2007 pioneered the successful low-cost, no-frills netbook PC in 2007, is expected to unveil five new laptop models based on the technology this year.

Analysts say Intel's CULV platform may offer a cheaper - but virtually as powerful - alternative to the traditional processors it makes for laptops, while enabling laptops to begin to approach the diminutive size of netbooks.

Intel released three new Core 2 Duo processors and a new mobile chipset.

Agencies

A new class of PC Netbooks 2.0 on the way

A new class of cheaper, smaller netbook computers might upset the IT establishment this year and potentially usher in new players in a hotly competitive market.

The biggest change in the new pint-sized laptops is what they won't have: Intel Corp chips or a Microsoft Corp Windows PC operating system, which dominate netbooks today.

The new netbooks, which use less energy, will run on the low-power ARM processor platform now used in nine out of 10 mobile phones, rather than Intel's x86-based Atom chip. The UK-based ARM Holdings Plc licenses the chip technology.

As many as 10 ARM-based netbook models could hit the market this year, according to ARM, which declined to identify specific manufacturers. Major PC players and Asian contract manufacturers alike are interested, analysts say.

Enderle Group analyst Rob Enderle called the new netbooks "incredibly disruptive," saying: "This is a market that puts the existing PC structure at risk."

While analysts say it's not yet clear if consumers will embrace the ARM devices, interest has been galvanized by the emphasis on power efficiency, prices as low as $200 and the promise of anywhere, anytime computing on PCs small enough to slip into a purse.

What's sacrificed is users' familiarity with PC-based interfaces and systems and sheer processing power. The current $300-$400 Atom netbooks are already mainly good for just surfing the Web and less graphics-intensive applications.

"We're right in the middle of a huge shift in the market," said Eric Openshaw, U.S. technology leader for Deloitte LLP.

Openshaw said non-Windows netbooks will need to demonstrate a simple and accessible user interface at the application level if they hope to gain traction with consumers.

Windows XP can't run on ARM, so the new netbooks will have Linux-based software, including, analysts and industry executives say, Google Inc Android, which has been used so far in smartphones.

But don't count Microsoft out just yet. Although the software giant declined to comment when asked if it is planning an operating system for the new netbooks, analysts say it could easily enter the market if it chose.

Intel pointed out there are as yet no ARM netbooks on the market and that its Atom chip has a full year's head start.

"We're not slowing down, we fully expect competition and we continue to believe that Atom is the right choice for our customers and consumer," said spokesman Bill Calder.

NEXT WAVE

The still-evolving netbook market is growing thick with players from all over the tech sector. Wireless carriers such as AT&T Inc are helping lead the charge, while graphics chipmaker Nvidia Corp, wireless chipmaker Qualcomm Inc and Freescale Semiconductor Inc have all designed ARM-based processors that can be used in netbooks.

The netbook phenomenon took off in 2008 to the tune of 11.7 million units, led by companies such as Acer Inc and Asustek Computer Inc that were quick into the market. Nearly every PC vendor offers an Intel Atom-based netbook, including Hewlett-Packard Co and Dell Inc.

Analysts forecast 20 million to 30 million netbooks will be sold this year, making up an ever larger part of overall laptop sales and marking one of few tech sectors still experiencing robust revenue growth.

"It's definitely going to be a different sort of device than today's netbooks," said Phil Solis of ABI Research, who expects ARM netbooks to make up 15 percent of the overall netbook market in 2010.

IDC analyst Richard Shim said the first wave of netbooks brought a PC feel to bridge the gap between laptops and smartphones. ARM netbooks, he said, represent a push from the opposite direction.

"The smartphones are now moving up," he added.

It is widely expected that the Computex trade fair in Taiwan in June will see a number of announcements about ARM-based netbooks. With less expensive ARM chips and free or very cheap operating systems, the netbooks could sell for even less than $200 if, as expected, wireless carriers subsidize purchases bundled with a data plan.

Tech blogs were recently buzzing about a prototype netbook built by Taiwan contract laptop maker Wistron Corp shown at the recent CTIA show in Las Vegas. The device was based on Qualcomm's ARM-based Snapdragon platform.


Agencies

Netbooks 2.0, PC,cheaper, smaller,computers,IT,laptops,Intel,Microsoft,ARM,analysts,technology,Nvidia, Qualcomm,Freescale,Asustek,HP, Dell,IDC,

Is HP top PC maker in US?

Global shipments of personal computers fell 7.1 percent in the first three months of the year, but the decline was smaller than expected and research group IDC on Wednesday said the industry could turn around by the end of the year.

A second research group, Gartner Inc, calculated first-quarter PC shipments fell 6.5 percent from the same period in 2008. The two groups use different methods to track PC shipments.

IDC had predicted worldwide shipments would fall 8.2 percent in the quarter. The US market was also much stronger than IDC forecast, with PC shipments falling 3.1 percent from a year ago, compared with an expected 8.9 percent drop. By Gartner's count, US shipments dipped less than one percent.

"Based on the U..being the center of the financial crisis, and looking at trends of last recession, we were concerned that demand and growth would continue to decline," said Loren Loverde, an IDC program director.

Instead, the US PC market, which took a beating in the fourth quarter, benefited from intense price competition among PC makers as well as the growing demand for netbooks, or small, cheap, low-powered laptops.

Both groups reported that Hewlett-Packard Co used the trend to overtake Dell Inc as the top PC maker in the US HP's lower prices and more established brand among shoppers helped push its market share to 27.6 percent. Dell's share fell to 26.3 percent as it struggled to reorganize its consumer business, according to IDC.

Taiwan's Acer Inc, the No 3 PC maker in the US and a force in the netbook market, snagged 10.5 percent of the market. Apple Inc's share edged up to 7.6 percent, and Japan-based Toshiba Corp, the fifth-largest, took 6.6 percent.

Worldwide, HP's market share crept up to 20.5 percent while Dell's slipped a few points to 13.6 percent, IDC reported. HP's shipments rose 2.9 percent as Dell's plunged 16.7 percent.

No 3 Acer captured 11.6 percent of PC shipments worldwide. China's Lenovo Group's share was flat at 7 percent, and Toshiba's share edged up to 5.4 percent.

Chipmaker Intel Corp. on Tuesday said personal computer sales "bottomed out" in the first quarter. Neither IDC nor Gartner wanted to match Intel's bold assessment, but IDC took a more optimistic stance.

"I don't think Intel's comment was meant to say we're going to come roaring back next quarter," Loverde said. "It's likely we won't see growth deteriorate from here."

Before the release of Wednesday's numbers, IDC had forecast an 8.4 percent decline in the second quarter and a 4.5 percent drop in the third before seeing growth in the fourth quarter.

George Shiffler, research director at Gartner, said in a statement that retailers may be restocking inventory, but "this restocking should not be interpreted as a recovery in PC end-user demand. It's still unclear if the global PC market has hit the bottom."

Agencies

After losses Lenovo announces management changes

Chinese PC maker Lenovo, which today announced a loss of $96.7 million for the quarter ended December 31, said CEO William J. Amelio resigned in a management reshuffle.

While Lenovo founder Liu Chuanzhi would return as the chairman of the company, present chairman Yang Yuanqing will return as CEO in the place of Amelio, Lenovo said in a statement.

Observing that the next several quarters will be "very challenging for Lenovo and the rest of the PC industry", Lenovo said the worldwide restructuring program announced on January 8 is expected to save the company approximately US$300 million in the 2009/10 financial year.

"In the past quarter, same as many other companies, Lenovo was deeply impacted by the global economic turmoil," said Lenovo CEO Yang Yuanqing. "We have taken actions to ensure that in an uncertain economy, our business operates as efficiently and effectively as possible, and continues to grow in the future."

The PC maker said its global sales of US$3.59 billion for the reporting quarter is 20 per cent less compared with the same period of 2007.

"The Group's results were impacted principally by slowdown of the Chinese PC market in which it has significant market share and demand reduction in the worldwide commercial PC segment," the company statement said.

On January 9, Lenovo had announced that the company is going tolay off 2,500 employees, nearly 11 per cent of its work force.

Is the computer mouse on the verge of extinction at 40?

The computer mouse, which was invented back in 1968 by Doug Engelbart and his team at the Stanford Research Institute in California, is facing extinction since the new technology might replace it. The computer mouse, which is now 40 years old, was developed after the team realized that there was a need for a simpler way of controlling computers than the standard light pen which had been used since the Second World War.

The mouse got its name since it quite resembled the animal and it was termed such by one unnamed researcher.

However, sadly it comes to light that on the eve of its 40th birthday, which is being celebrated next week when Engelbart returns to Stanford, the mouse could be facing death at the hands of new technology. The future is quite certain with the control methods of both the Wii and iPhone creeping in.

It is a well known fact that many laptop users already choose to use the built-in touchpad rather than a mouse. Moreover, touchscreens are now a reality rather than a science fiction. So sadly we may say that the mouse would be no more around us, since it would be replaced with a much more natural and user-friendly way of controlling the technology we use every day.

Wipro among top three in desktops segment by 2008

Computer major Wipro Infotech, a division of the $3.47-billion Wipro Limited, having rolled-out its new range of environment-friendly desktops in the Indian market, is now eyeing to be among the top three in the Enterprise and SMB desktop segment by 2008. Ashutosh Vaidya, vice-president – Personal Computing Division, Wipro Infotech in an interview with Manu Sharma, spoke on wide range of issues ranging from their foray into eco-friendly computers to future plans.

CIOL: What is Greenware range of desktops and laptops? What prompted Wipro to launch these products?
Ashutosh Vaidya: Wipro has been addressing the issue of increasing e-waste and in this connection launched eco-friendly range of products as part of its responsibility towards cleaner environment. This provides a compelling proposition to our customers to adopt eco-friendly, high performance and feature-rich computing products in their enterprise.

CIOL: Where does Wipro stand in the computer market and how does it plan to grow?
AV: After having registered sales of 150,000 units in 2006 (IDC report), Wipro is now looking to achieve a target of 225,000 units in 2007. In the Enterprise/SMB segment, the company occupied number five slot with sales of 70,000 last year and is now eyeing to reach 70,000 units in 2007, thus move up among the top three. HP leads this segment followed by HCL, Dell, Lenovo and Acer. We are targeting at state banks, government agencies to reach our target.

CIOL: What are RoHS compliance products and mention its importance?
AV: RoHS or (Restriction of Hazardous Substances) is a directive from the European Union to reduce substantial e-waste in the environment. A lot of e-waste such as Brominated Flame Retardants (BFR), PVCs and heavy metals like lead, cadmium and mercury are used by computer manufacturers. Now Wipro has set up its e-waste management process called Wipro Green Computing, which spans across its product lifecycle – from designing, manufacturing right up to the final disposal.

CIOL: How does Wipro plan to reduce e-waste in India?
AV: Wipro is among the first computer manufacturing companies to launch these products in India. We will also not procure non-RoHS components from our global vendors. Besides we will roll out only RoHS compliant products by the end of this fiscal. Presently, we have eight products including four desktops and three notebooks that are 100 per cent RoHS compliant. We also have 16 centers across the country where customers can come and surrender their old computers and we will handle the disposal.

CIOL: In what way is Greenpeace involved in this project?
AV: Greenpeace, a global NGO has been at the forefront of the campaign for clean production and safe recycling. Greenpeace wants the electronics industry to design products that are free from hazardous substances, easy to recycle, and do not expose workers to health risks during production or recycling. Greenpeace is convincing individual producer responsibility (IPR) for full take-back of their products at their end of life, and go beyond the EU RoHS directive in eliminating all hazardous chemicals.