Category: Business

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Business

AM Best assigns preliminary credit assessment to Omaha National Insurance Company

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance—AM Best has assigned a Preliminary Credit Assessment (PCA) to Omaha National Insurance Company (ONIC) (Omaha, NE) with a Financial Strength Assessment of A- pca (Excellent) and a Long-Term Issuer Credit Assessment of “a-” pca (Excellent). The outlook assigned to these PCAs is stable.

The PCAs reflect ONIC’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).

 

The very strong balance sheet assessment reflects ONIC’s strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), on a pro forma basis for an expected $35 million capital contribution from the company’s intermediate parent, Omaha National Group, Inc. (ONG), following its August 2021 Series B convertible preferred stock issuance, and the expected issuance of a $20 million external surplus note. While ONG is capitalized primarily with convertible preferred stock, which results in high financial leverage per AM Best’s guidelines, the PCAs recognize the equity-like characteristics of ONG’s convertible preferred stock, the parent’s adequate liquidity position and ongoing capital support from investors.

 

AM Best assesses the company’s operating performance as adequate based on ONIC’s historical results since inception in October 2017 and its well-defined business plan, and considers a level of execution risk associated with the company’s plan to start writing business produced by its affiliated managing general agent, Omaha National Underwriters, LLC (ONU), on a direct basis. ONIC assumes all of its premium through a quota-share agreement with an unaffiliated fronting carrier, Preferred Professional Insurance Company (PPIC). The business is produced by ONU, which manages all aspects of the policies sold through PPIC. AM Best views the company’s business profile as limited as ONIC is a mono-line writer of workers’ compensation insurance with a geographic concentration in California. ONIC’s ERM capabilities benefit from rigorous claims oversight, established risk tolerance levels and strict underwriting guidelines.

 

This press release relates to Preliminary Credit Assessments that have been published on AM Best’s website. For all assessment information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual assessments referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating and Assessment opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

 

Copyright © 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Robert Valenta, CPCU
Senior Financial Analyst
+1 908 439 2200, ext. 5291
robert.valenta@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Jacqalene Lentz, CPA
Director
+1 908 439 2200, ext. 5762
jacqalene.lentz@ambest.com

Jim Peavy
Director, Communications
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Categories
Business Science

SigmaLedger’s CuBE, a universal solution for coupons and rewards, adopted by P&G and Walgreens

JERSEY CITY, N.J. — (BUSINESS WIRE) — SigmaLedger, a leading SaaS provider of blockchain-based innovative traceability solutions, announced today that CuBE (Coupon Business Exchange), their solution to address coupon fraud, has been adopted by P&G (Procter & Gamble) and Walgreens.


Coupon fraud costs the retail industry over $100 million each year.1 In addition, retailers must face other consequences such as delayed checkouts, cashier/shopper friction and a lengthy and labor-intensive coupon clearing process. CuBE eliminates coupon fraud, accelerates coupon clearance, and reduces overall processing costs. It is a proactive solution, rejecting fraud at POS (point of sale) in real-time at the first occurrence.

 

“We are proud to bring this innovative solution to the market, addressing an industry-wide problem that negatively impacts manufacturers, retailers, employees and customers,” said Oleksandr Rivkind, CEO of SigmaLedger. “We are grateful to the early adopters of CuBE, who have supported our efforts in fraud prevention.”

 

CuBE utilizes Blockchain technology to secure the data, bring trust and enable further innovation to coupon issuance, clearing and settlement.

 

“We are proud to fund SigmaLedger, via our start-up ecosystem ventures program, and help drive innovation and technology transformations for enterprise CPG/Retail organizations,” said Elaina Shekhter, Chief Strategy Officer of EPAM Systems. “SigmaLedger’s blockchain-based CuBE solution transforms the retail coupon technology landscape by accelerating clearances, improving traceability and vastly reducing fraud.”

 

CuBE connects manufacturers and retailers, allowing coupon validation to be run at POS, rejecting fraudulent coupons, and reporting redemption in real time. It also offers digital clearing which saves money, leads to faster retailer reimbursement, and provides access to transaction-level data.

 

“CuBE has had nearly instant success, virtually eliminating counterfeit coupons with our launch partners,” said Mike Loyson, Brand Director of Value Delivery and Couponing, Procter & Gamble Co. “Beyond the financial benefits of fraud elimination, CuBE quickens and conciliates shopper checkout and delivers an innovation glidepath via a platform that can scale across manufacturers and retailers in weeks.”

 

The adoption of CuBE is growing rapidly among retailers and manufacturers, offering a forward-looking solution, detecting fraud for both paper and digital coupons and finding suspicious patterns, stolen coupons and more. It is currently deployed in over 10,000 US stores and reduced fraud by nearly 90% immediately after deployment.

 

“The integration of CuBE with our existing software was seamless, with no notable reduction in processing speed,” said Heather Vondrasek, Asset Protection, Walgreens. “The adoption of CuBE has equipped our team members with the technology to identify and reject counterfeit coupons, leading to an overall reduction in losses associated with coupon fraud.”

 

If you want to learn more about CuBE, contact us or visit www.cube.sigmaledger.com/

References:

  1. https://www.pennlive.com/life/2017/04/coupon_crime_is_no_joke.html

About SigmaLedger

SigmaLedger is a SaaS provider of blockchain based innovative solutions focusing on counterfeit prevention, supply chain transparency and digital direct marketing. For additional information please contact us at info@sigmaledger.com or visit www.sigmaledger.com.

 

About Walgreens

Walgreens (www.walgreens.com) is included in the United States segment of Walgreens Boots Alliance, Inc. (Nasdaq: WBA), a global leader in retail pharmacy. As America’s most loved pharmacy, health and beauty company, Walgreens purpose is to champion the health and wellbeing of every community in America. Operating more than 9,000 retail locations across America, Puerto Rico and the U.S. Virgin Islands, Walgreens is proud to be a neighborhood health destination serving approximately 8 million customers each day. Walgreens pharmacists play a critical role in the U.S. healthcare system by providing a wide range of pharmacy and healthcare services. To best meet the needs of customers and patients, Walgreens offers a true omnichannel experience, with platforms bringing together physical and digital, supported by the latest technology to deliver high-quality products and services in local communities nationwide.

Contacts

Oleksandr Rivkind

alik.rivkind@sigmaledger.com

Categories
Business Science

Bayer Consumer Health Media Team named AdExchanger winner for Best In-House Media Operations

Team also named Best in Show for Overall Excellence in Programmatic Media Award

 

WHIPPANY, N.J. — (BUSINESS WIRE) — For the second consecutive year, the Bayer Consumer Health Media Team has been selected as the winner in the Best In-House Media Operations category during the 2021 AdExchanger Awards. The team also earned Best In Show for Overall Excellence in Programmatic Media. The AdExchanger Awards celebrate excellence in digital marketing and advertising.

“Our in-house approach harnesses the power and passion of our employees as no one knows our business and brands better than the people who work at Bayer,” said Jeff Rasp, Head of Media, Digital Platforms and Content, Bayer Consumer Health. “As a result, our team is able to move more quickly and efficiently to seamlessly deliver creative and impactful media plans.”

 

Bayer Consumer Health began its journey of in-sourcing digital media strategy and operations in 2018. In 2019, the team was named a finalist by AdExchanger for Best In-House Media Operations.

 

“Our greatest achievement over the last few years has been building a second-to-none team of industry leading experts who work together seamlessly and bring out the best in each other,” said Jeff Jarrett, Chief Marketing Officer, Bayer Consumer Health. “Through their relentless pursuit of excellence, they are driving our business forward with their bold strategies and executions.”

 

About Bayer

Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to help people and planet thrive by supporting efforts to master the major challenges presented by a growing and aging global population. Bayer is committed to drive sustainable development and generate a positive impact with its businesses. At the same time, the Group aims to increase its earning power and create value through innovation and growth. The Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2020, the Group employed around 100,000 people and had sales of 41.4 billion euros. R&D expenses before special items amounted to 4.9 billion euros. For more information, go to www.bayer.us.

 

Bayer® and the Bayer Cross® are registered trademarks of Bayer.

 

Forward-Looking Statements

This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer Group or subgroup management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer’s public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

Contacts

Alex Borchard

Bayer U.S. — Consumer Health

Email: alex.borchard@bayer.com
Mobile: 201-274-9429

Social Media Channels

– Facebook: BayerUnitedStates
– Twitter: BayerUS
– Instagram: BayerUS
– YouTube: BayerUS

Categories
Business Technology

1Kosmos receives ISO/IEC 27001 certification

Internationally Recognized Designation Validates Company has Invested in the People, Processes and Technology to Protect its Confidential Data

 

SOMERSET, N.J. — (BUSINESS WIRE) — #Blockchain—1Kosmos, the only company that unifies identity proofing and passwordless authentication, today announced it has received ISO/IEC 27001 certification, which provides independent validation it has the people, processes and technology controls in place to protect the confidentiality, integrity and availability of its data assets.

“Protecting our data and infrastructure from security threats is baked into everything we do,” said Mike Engle, CSO for 1Kosmos. “As a standards-based organization we recognize the importance of ISO/IEC 27001 certification and the confidence it gives our customers that we have implemented the most advanced controls to protect data assets in our possession.”

 

ISO/IEC 27001 is the leading international standard for information security, published by the International Organization for Standardization (ISO) and in partnership with the International Electrotechnical Commission (IEC). 1Kosmos achieved ISO/IEC 27001 certification following an independent assessment by BSI Group that it has met ISO/IEC’s requirements for managing the security of assets such as financial information, intellectual property, employee details and information entrusted by third parties.

 

1Kosmos unifies identity proofing and authentication for employees, customers and citizens to enable passwordless access to sensitive applications, data and resources. The company’s BlockID products are FIDO2 and NIST 800-63-3 certified to perform an instant IAL2 certified identity verification without requiring the individual to be present at a physical location, and store user data encrypted in a private, permissioned blockchain.

 

About 1Kosmos

1Kosmos helps companies unify identity proofing and authentication to provide workers, customers and citizens frictionless onboarding and passwordless access to data and services. The FIDO2 and NIST certified BlockID distributed digital identity platform creates a portable digital wallet for easy access to online services. It virtually eliminates the risk of identity impersonation, account takeover, and transaction fraud by combining strong authentication with strong identity enrollment. BlockID performs millions of authentications daily for some of the largest banks, telecommunications and healthcare organizations in the world. The company is funded by Forgepoint Capital with headquarters in Somerset, New Jersey. For more information, visit www.1kosmos.com and follow us on Twitter and LinkedIn.

Contacts

Media:

Marc Gendron

Marc Gendron PR for 1Kosmos

marc@mgpr.net
617-877-7480

Categories
Business Sports & Gaming

iHeartMedia and DraftKings ink multifaceted strategic agreement

DraftKings Becomes Official Odds Supplier for iHeartMedia Stations in More than 160 Markets Nation-Wide

 

NEW YORK — (BUSINESS WIRE) — iHeartMedia, Inc. [Nasdaq: IHRT] and DraftKings Inc. [Nasdaq: DKNG] announced today a multi-year strategic relationship, making DraftKings the official odds supplier for iHeartMedia’s broadcast, digital, podcast and social platforms. Additionally, as part of the agreement DraftKings is now able to co-create and distribute long-form content with iHeartMedia and will receive preferred access to iHeartMedia’s full roster of diverse personalities. Furthermore, DraftKings and iHeartMedia will collaborate around a wide range of possible content development opportunities, including the distribution of shows and segments across the media giant’s radio and digital properties and integrations within iHeartMedia’s live sports broadcasts. DraftKings and iHeartMedia will also collaborate on a number of possible experiential opportunities for listeners and fans including providing cross platform interactive games.

“Even though we are number one in audio sports programming, we continue to build new sports content and DraftKings is an ideal partner as we expand and innovate,” said Greg Ashlock, CEO of iHeartMedia’s Multiplatform Group. “DraftKings is a premier sports technology and entertainment company that provides millions of customers with the best in real-money gaming products along with exceptional safety and security through various responsible gaming measures. We look forward to a long and fruitful partnership everywhere sports betting is permissible.”

 

DraftKings has the opportunity to leverage iHeartMedia’s SmartAudio suite of data-driven advertising products. The data integration would enable fact-based audience planning and targeting optimizations across iHeartMedia’s broadcast and digital platform, including its more than 270 million monthly consumers on its broadcast platform alone providing DraftKings with national exposure and at the same time reaching local audiences with a tailored approach.

 

“Customer engagement remains a primary focus for DraftKings, and this latest agreement with iHeartMedia amplifies our reach immensely to a dedicated audience that spans more than 160 markets across the country with the largest audio company in the U.S.,” said Matt Kalish, co-founder and President, DraftKings North America. “Analytically tapping into iHeart’s coveted listenership while powering authentic betting content is a landmark moment for both organizations and precursor to new possibilities in media innovation.”

 

iHeartMedia hosts the largest sports audio network in the U.S., with products across broadcast, streaming, digital, podcast and experiential. iHeartMedia is the number one podcast publisher globally according to Podtrac with more than 280 million monthly downloads, with the iHeartPodcast Sports Network alone featuring more than 50 million downloads a month, making it the largest for sports podcast listening.

 

About iHeartMedia, Inc.

iHeartMedia, Inc. [Nasdaq: IHRT] is the leading audio media company in America, reaching over 250 million people each month. It is number one in both broadcast and digital streaming radio as well as podcasting and audio ad tech and includes three business segments: The iHeartMedia Multiplatform Group; the iHeartMedia Digital Audio Group; and the Audio and Media Services Group. Visit iHeartMedia.com for more company information.

 

About DraftKings

DraftKings Inc. is a digital sports entertainment and gaming company created to fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. DraftKings’ Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, West Virginia, and Wyoming. DraftKings’ daily fantasy sports product is available in 7 countries internationally with 15 distinct sports categories. DraftKings is the official daily fantasy partner of the NFL, MLB, NHL, NASCAR, PGA TOUR and UFC as well as an authorized gaming operator of the NBA, an official sports betting partner of the NFL, MLB and NHL an official betting operator of PGA TOUR and the official betting operator of UFC. Launched in August 2021, DraftKings Marketplace is a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions. DraftKings also owns Vegas Sports Information Network, Inc. (VSiN), a multi-platform broadcast and content company.

 

DraftKings Forward-Looking Statements

Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside DraftKings’ control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see DraftKings’ Securities and Exchange Commission filings. DraftKings does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contacts

Media

iHeartMedia

Angel Aristone

AngelAristone@iHeartMedia.com

DraftKings

Stephen Miraglia

smiraglia@draftkings.com

Categories
Business International & World

AM Best to speak at the International Association of Insurance Supervisors Annual Conference

OLDWICK, N.J. — (BUSINESS WIRE) — AM Best Chief Rating Officer Stefan Holzberger will participate in a panel discussion at the International Association of Insurance Supervisors (IAIS) Annual Conference, which will take place virtually Nov. 16-18. Holzberger’s 90-minute session, titled, “Global Monitoring Exercise: A Changing Landscape for the Insurance Sector,” is scheduled for Nov. 17 at 1 p.m. (CET).

This session will highlight conclusions from the IAIS’ assessment of trends and developments in the global insurance market, Global Monitoring Exercise (GME) and the possible build-up of systemic risk. The discussion will also address the impact of low-for-long interest rates on life insurers’ business models, including increased private equity ownership and credit risk.

 

Holzberger will be joined on the panel by Birny Birnbaum, economic adviser to and executive director of the Center for Economic Justice; Frank Grund, chief executive director, Insurance and Pension Funds Supervision; and Michael McRaith, former director of the U.S. Department of the Treasury’s Federal Insurance Office and vice chair at Brookfield Insurance Solutions. Dieter Hendrickx, chair of the IAIS Macroprudential Committee and head of prudential policy insurance for the National Bank of Belgium, will moderate the discussion.

 

For more information, please visit the IAIS conference page.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2021 by A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Kate Smith
Associate Director, Public Relations
+1 908 439 2200, ext. 5817
kate.smith@ambest.com

Jim Peavy
Director, Communications
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Categories
Business Sports & Gaming

Fubo Sportsbook officially launches, bringing first owned-and-operated live TV streaming-integrated mobile sportsbook to market in the United States

Now Live in Iowa, Fubo Sportsbook Integrates with fuboTV to Deliver an Immersive, Omniscreen Wagering Experience

 

CHICAGO — (BUSINESS WIRE) — #Gaming–Fubo Gaming, a subsidiary of leading sports-first live TV streaming platform fuboTV Inc. (NYSE: FUBO), today announced that it is live in the mobile sports betting market with the official launch of Fubo Sportsbook in Iowa. The sportsbook is available now for sports bettors 21 years of age and older in the Hawkeye state to wager on thousands of professional and collegiate sporting events using the Fubo Sportsbook mobile app, which is integrated with fuboTV’s live TV streaming platform.


More than a wagering platform, Fubo Sportsbook is purpose-built to meet U.S. sports fans’ growing demand for interactivity through an industry-first integration of an owned-and-operated sports wagering platform with a live TV streaming experience. By integrating with fuboTV, the mobile app delivers a personalized omniscreen experience that turns passive viewers into active and engaged participants. Fubo Sportsbook is launching with a unique feature, Watching Now, which leverages fuboTV’s first-party user data to allow users to instantly view wagering content based upon what they are streaming – even as they change the channel. Fubo Gaming intends to continue iterating the app, launching additional features, subject to regulatory approval, that will further integrate wagering into the fuboTV platform, to create an even more immersive and personalized experience.

 

“We’re thrilled to launch Fubo Sportsbook and begin to bring U.S. sports fans a next-level interactive viewing and betting experience — one entirely tailored to the sports and entertainment they care about most,” said Scott Butera, president of Fubo Gaming. “As the industry continues to expand, it is increasingly important to meet sports fans’ growing demand for personalized and immersive experiences. By integrating with fuboTV, we aim to make that a reality.”

 

Fubo Sportsbook and fuboTV sit at the unique intersection of two expanding markets: sports wagering and digital sports entertainment. According to a study by Gabelli Securities and the US Census Bureau, U.S. sports betting revenue is expected to grow from a projected $2.1 billion in 2021 to $10.1 billion in 2028. Additionally, recent research from TDG reveals that 54 million households will be broadband-only by 2025, a 42% increase from 2020, in part because over-the-top media services can deliver highly personalized experiences that linear TV cannot.

 

“fuboTV’s vision to define a new category of interactive sports and entertainment television takes another major step forward with the launch of Fubo Sportsbook,” said David Gandler, co-founder and CEO of fuboTV. “This is a pivotal moment not just for fuboTV, but for the U.S. sports wagering and entertainment industries because it is the first time the two are truly coming together in one ecosystem. It’s important to realize that Fubo Sportsbook is not simply an add-on product to fuboTV, but a product synced with the live TV streaming experience. We expect this integration will create a flywheel that improves engagement and retention, as well as drives advertising revenue. In the coming months, we plan to further integrate our sportsbook with fuboTV to create a comprehensive and engaging TV and wagering experience.”

 

Fubo Gaming received regulatory approvals via a market agreement with Casino Queen to go live with mobile and/or retail betting operations within the state of Iowa. The company has also obtained market access agreements in four other states, including Pennsylvania via The Cordish Companies, Indiana and New Jersey via Caesars Entertainment Inc. and Arizona via the Ak-Chin Indian Community, where it also has been granted a Management Services Provider Certification from the Arizona Department of Gaming (ADG). The company expects to announce the launch of Fubo Sportsbook in additional markets in 2021 and during 2022, subject to requisite regulatory approvals. The company has partnerships with NASCAR, and the New York Jets (NFL) and, as an Authorized Gaming Operator (AGO) with the NBA, a multi-year agreement with the Cleveland Cavaliers (NBA).

 

Fubo Sportsbook is available now at www.fubosportsbook.com or for download via iOS. For more information, follow @fubosportsbook on Twitter and Instagram.

 

About Fubo Gaming

Launched in 2021, Fubo Gaming Inc. is a Chicago-based subsidiary of live TV streaming platform fuboTV Inc. (NYSE: FUBO), and developer and distributor of Fubo Sportsbook. Fubo Sportsbook is purpose-built to integrate with fuboTV, creating a personalized omniscreen experience that turns passive viewers into active and engaged participants. Fubo Sportsbook officially launched in November 2021 and is currently live in Iowa. It has market access agreements in Pennsylvania via The Cordish Companies and Indiana and New Jersey via Caesars Entertainment Inc., as well as a license and market access agreement in Arizona via Ak-Chin Indian Community. The launch timeline of Fubo Sportsbook in each state is subject to obtaining requisite regulatory approvals. For more information, visit fubosportsbook.com.

 

About fuboTV

With a mission to provide the world’s most thrilling sports-first live TV experience through the greatest breadth of premium content, interactivity and integrated wagering, fuboTV Inc. (NYSE: FUBO) is focused on bringing to life its vision of a streaming platform that transcends the industry’s current virtual MVPD model. fuboTV Inc. operates in the U.S., Canada and Spain.

 

Leveraging its proprietary data and technology platform optimized for live TV and sports viewership, fuboTV Inc. aims to turn passive viewers into active participants and define a new category of interactive television. Through its cable TV replacement product, fuboTV, subscribers can stream a broad mix of 100+ live TV channels, including 74 of the top 100 Nielsen-ranked networks across sports, news and entertainment — more than any other live TV streaming platform (source: Nielsen Total Viewers, 2020). Subscribers can interact with fuboTV’s live streaming experience through Fubo Sportsbook and predictive free-to-play games, which are integrated into select sports content.

 

Fubo Gaming Inc., a subsidiary of fuboTV Inc., launched Fubo Sportsbook, a next-generation mobile sportsbook purpose-built to integrate with fuboTV, in 2021.

 

Forward-Looking Statements:

This press release contains forward-looking statements of fuboTV Inc. (“fuboTV”) that involve substantial risks and uncertainties. All statements contained in this press release that do not relate to matters of historical fact are forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, including statements regarding our market opportunity, business strategy and plans, the continued shift in consumer behavior towards sports wagering and streaming services, and the expected launch of Fubo Sportsbook in additional markets. The words “could,” “will,” “plan,” “intend,” “anticipate,” “approximate,” “expect,” “potential,” or the negative of these terms or other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that fuboTV makes due to a number of important factors, including but not limited to risks related to our pursuit and engagement in acquisitions; our actual operating results may differ significantly from our guidance; risks related to the Company’s access to capital and fundraising prospects to fund its ongoing operations and support its planned growth; the restrictions imposed by content providers on our distribution and marketing of our products and services; our reliance on third party platforms to operate certain aspects of our business; risks related to our technology, as well as cybersecurity and data privacy-related risks; our ability to achieve or maintain profitability; our revenue and gross profit are subject to seasonality; our operating results may fluctuate; our ability to attract and retain subscribers; we may not be able to license streaming content or other rights on acceptable terms; risks related to our ability to capitalize develop and market a sports wagering offering and the regulatory regime and related risks associated with such offering; risks related to the difficulty in measuring key metrics related to our business; risks related to the highly competitive nature of our industry; risks related to ongoing or future legal proceedings; and other risks, including the effects of industry, market, economic, political or regulatory conditions, future exchange and interest rates, and changes in tax and other laws, regulations, rates and policies, including the impact of COVID-19 on the broader market. Further risks that could cause actual results to differ materially from those matters expressed in or implied by such forward-looking statements are discussed in our Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2021 filed with the Securities and Exchange Commission (“SEC”) on August 11, 2021 and our other periodic filings with the SEC. We encourage you to read such risks in detail. The forward-looking statements in this press release represent fuboTV’s views as of the date of this press release. fuboTV anticipates that subsequent events and developments will cause its views to change. However, while it may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. You should, therefore, not rely on these forward-looking statements as representing fuboTV’s views as of any date subsequent to the date of this press release.

Contacts

Investor Contacts:
Alison Sternberg, fuboTV

asternberg@fubo.tv
The Blueshirt Group for fuboTV

ir@fubo.tv

Media Contacts:
Deliah Mathieu, Fubo Gaming

dmathieu@fubo.tv
Lexi Panepinto, CTP for Fubo Gaming

lpanepinto@ctpboston.com

Categories
Business

NICE AI and robotics technology reduces complexities for key UK government agency

The UK government authority selected NICE Advanced Process Automation for its proven capabilities, accuracy and scalability

 

HOBOKEN, N.J. — (BUSINESS WIRE) — #NICE—NICE (Nasdaq: NICE) today announced that a key government agency in the United Kingdom chose NICE Advanced Process Automation technologies as part of its strategy to improve organizational efficiency and accuracy. In one of the most complex automation projects for which NICE advanced artificial intelligence (AI) and robotics technology has ever been used, the agency is collecting and coordinating data from 19 different systems across the organization as part of its digital transformation strategy. In addition, the integration of NICE advanced AI and robotic automation makes it possible for the agency to annually streamline tens of millions of transactions, process more than 28 million pages of hand-written forms, and provide thousands of advisors with real-time guidance for interactions with the public.

Given the scope and scale of the authority’s activities, a growing population, periodically changing legislation and the need for resiliency in the face of crises, this department required an agile, highly scalable and flexible solution. The unique NICE combination of advanced AI and unattended automation was determined to be the best option for eliminating cumbersome, time-consuming tasks, boosting productivity and improving operations. Moreover, NICE’s technology is especially well-suited to the public sector where resiliency has become a non-negotiable.

 

Hundreds of NICE robots automate and support a wide array of processes across the agency, including administrative tasks, data gathering, communication with customers and regulatory compliance. For example, NICE technology is helping the authority process self-service applications for payment arrangements, update changes in circumstances in multiple systems, correct errors, coordinate diverse sources of data, and more. In addition, the NICE employee virtual attendant (NEVA) provides employees contextually relevant guidance during live interactions and assists with huge seasonal surges in frontline contacts. It can also quickly combine disparate systems and adjust processes on the fly to address rapidly changing needs.

 

In order to automate the processing of millions of pages of hand-written forms, the government agency implemented an integration of NICE automation solutions and the Hyperscience Platform, which delivers industry-leading intelligent document processing capabilities. The authority selected the Hyperscience-NICE joint solution after a “bake-off” pilot against major global competitors, during which it was found to be the most accurate and versatile. Across multiple types of forms with over 400 fields, the combined technologies demonstrated 99.4 percent reading accuracy — which is above the 95 percent human accuracy level — and 100 percent automation of data extraction and export.

 

“We are pleased to meet this important government agency’s need for a robust, innovative robotic process automation solution that saves time, improves productivity and provides greater flexibility,” said John O’Hara, President, NICE EMEA. “Leveraging our technology with the power of Hyperscience, this agency has seen a significant return on investment through efficiencies that free up resources, reduce complexities and streamline the organization’s multiple self-service options.”

 

NICE Advanced Process Automation solutions are increasingly becoming the technology of choice for public sector organizations embarking on a digital transformation journey as they mechanize their operations and uncomplicate repetitive tasks. For example, NEVA provides real-time, dynamic support, such as retrieving information the frontline agent needs, when they need it, and then assisting with any routine follow-up actions. Similarly, it can ensure that change of circumstances information received through multiple channels is automatically proliferated across relevant documentation. In addition to streamlining these processes, NICE automation solutions free employees to focus on the personal touch that is critical to ensure exceptional customer experiences.

 

About NICE

With NICE (Nasdaq: NICE), it’s never been easier for organizations of all sizes around the globe to create extraordinary customer experiences while meeting key business metrics. Featuring the world’s #1 cloud native customer experience platform, CXone, NICE is a worldwide leader in AI-powered self-service and agent-assisted CX software for the contact center – and beyond. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, partner with NICE to transform – and elevate – every customer interaction. www.nice.com.

 

Trademark Note: NICE and the NICE logo are trademarks or registered trademarks of NICE Ltd. All other marks are trademarks of their respective owners. For a full list of NICE’s marks, please see: www.nice.com/nice-trademarks.

 

Forward-Looking Statements

This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Mr. O’Hara, are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the “Company”). In some cases, such forward-looking statements can be identified by terms such as “believe,” “expect,” “seek,” “may,” “will,” “intend,” “should,” “project,” “anticipate,” “plan,” “estimate,” or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to the impact of changes in economic and business conditions, including as a result of the COVID-19 pandemic; competition; successful execution of the Company’s growth strategy; success and growth of the Company’s cloud Software-as-a-Service business; changes in technology and market requirements; decline in demand for the Company’s products; inability to timely develop and introduce new technologies, products and applications; difficulties or delays in absorbing and integrating acquired operations, products, technologies and personnel; loss of market share; an inability to maintain certain marketing and distribution arrangements; the Company’s dependency on third-party cloud computing platform providers, hosting facilities and service partners;, cyber security attacks or other security breaches against the Company; the effect of newly enacted or modified laws, regulation or standards on the Company and our products and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the “SEC”). For a more detailed description of the risk factors and uncertainties affecting the company, refer to the Company’s reports filed from time to time with the SEC, including the Company’s Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law.

Contacts

Corporate Media Contact
Christopher Irwin-Dudek, +1 201 561 4442, ET, chris.irwin-dudek@nice.com

Investors
Marty Cohen, +1 551 256 5354, ET, ir@nice.com
Omri Arens, +972 3 763 0127, CET, ir@nice.com

Categories
Business

Best’s Review examines how D&I Impacts Insurers’ workforces, products and risks

OLDWICK, N.J. — (BUSINESS WIRE) — Best’s Review features coverage of “How D&I Impacts Insurers’ Workforces, Products and Risks,” a cross-media series with AM Best TV in which top industry leaders discuss diversity and inclusion in the insurance industry. The series explores the following topics:

  • As companies and organizations come under increased scrutiny, some insurers have taken the lead in developing heterogeneous workforces. Building a rich, multi-background workforce takes creativity, hustle and commitment. In “Best Practices for Building a Diverse and Inclusive Insurance Workforce,” insurers and workplace experts examine real-world strategies and tactics for building an insurance workplace that embraces today’s rapidly changing workforce.
  • Some insurers are meeting demographic and societal changes with new products and services designed to serve specialized communities and unique needs. In “How Insurers Profit by Serving a Diverse and Inclusive Customer Base,” insurers and strategists examine how social change is driving insurance opportunity.
  • Insurers increasingly rely on tools such as data, analytics, algorithms and machine learning that are coming under increased scrutiny for possibly introducing unintended bias. In “Advancing Technology Exposes Insurers to Bias Risk,” privacy, technology and regulatory experts examine where those exposures may be occurring, how they can be prevented and the implications for insurers that depend on these tools.

Also included in the November issue:

 

Best’s Review is AM Best’s monthly insurance magazine, covering emerging insurance issues and trends and evaluating their impact on the marketplace. Full access to the complete content of Best’s Review is available Full access to the complete content of Best’s Review is available here.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2021 by A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Patricia Vowinkel
Executive Editor, Best’s Review®
+1 908 439 2200, ext. 5540

patricia.vowinkel@ambest.com

Categories
Business Environment

Prudential Financial commits to net zero emissions by 2050

Expanded climate actions include carbon neutral target by 2040 and restriction on new direct investments in thermal coal

NEWARK, N.J. — (BUSINESS WIRE) — Prudential Financial, Inc. (NYSE: PRU) today announced its commitment to achieve net zero emissions across its primary domestic and international home office operations by 2050. To accelerate the company’s longstanding commitments to mitigate the impacts of climate change, Prudential also is setting an interim goal to become carbon neutral by 2040. These actions are aligned with the latest climate science of limiting global warming to 1.5 degrees Celsius or lower, as specified in the Paris climate accord.

 

“As a global insurer and investment manager, we understand the magnitude and urgency of climate change, and that we have a responsibility to minimize our impact,” said Charles Lowrey, chairman and CEO of Prudential. “This net zero commitment is an important step toward a more sustainable future for our customers, employees, investors and communities.”

 

The actions announced today build upon Prudential’s 2019 Global Environmental Commitment, which include operational and investment goals aimed at mitigating climate change and other environmental risks.

 

Prudential will reduce home office operational emissions globally (Scope 1 and Scope 2) by consolidating its real estate footprint, investing in energy-efficient capital improvements for owned properties, and purchasing renewable energy, where available, and then will utilize carbon removal strategies to eliminate its remaining carbon footprint. The company’s home office operations include owned and leased office space, data centers and garages in the United States, Japan and Brazil.

 

Prudential next plans to assess Scope 3 emissions, including those related to the company’s owned assets within its $460 billion General Account portfolio.1 As an initial action, Prudential will begin restricting new direct investments in companies that derive 25% or more of their revenues from thermal coal. This restriction is included in Prudential’s enhanced Responsible Investing Policy.

 

“Prudential is a company committed to delivering on its promises. We will hold ourselves accountable to these targets as we make meaningful progress toward addressing climate risk,” said Rob Falzon, vice chair of Prudential, who oversees the company’s Steering Council on Climate Change. “These carbon reduction targets are underpinned by our longstanding efforts to effectively engage with our stakeholders and provide transparency on our environmental actions.”

 

Other recent environmental actions taken by the company include sustainable finance transactions such as issuing an inaugural green bond. In May 2021, PGIM Real Estate, the real estate investment business of PGIM, Prudential’s global investment management arm, committed to reducing operational carbon emissions from its global portfolio of managed properties to net zero by 2050.

 

Prudential will report progress and updates on these targets in its annual ESG Report. For more company news and information on sustainability initiatives, visit prudentialesg.com.

 

1General Account portfolio assets under management are as of June 30, 2021.

 

Forward-Looking Statements

Certain of the statements included in this release, including those related to Prudential’s environmental, social and governance initiatives and targets, constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on management’s current expectations and beliefs concerning future developments and their potential effects upon Prudential Financial, Inc. and its subsidiaries. Prudential Financial, Inc.’s actual results may differ, possibly materially, from expectations or estimates reflected in such forward-looking statements. Certain important factors that could cause actual results to differ, possibly materially, from expectations or estimates reflected in such forward-looking statements can be found in the “Risk Factors” and “Forward-Looking Statements” sections included in Prudential Financial, Inc.’s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Prudential Financial, Inc. does not undertake to update any particular forward-looking statement included in this release.

 

About Prudential

Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with more than $1.5 trillion in assets under management as of June 30, 2021, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees help to make lives better by creating financial opportunity for more people. Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit news.prudential.com.

Contacts

MEDIA:

Julie Laskin, (973) 802-3975, julie.laskin@prudential.com