HTT’s Hyperloop technology declared insurable by Munich Re
Hyperloop Transportation Technologies (HTT) and Munich Re, a leading global insurer, have revealed that HTT’s technology is both feasible and insurable after collaborating and conducting extensive risk analysis research over the past year.
"Offering an insurable system is a massive milestone for this groundbreaking technology,” said Dirk Ahlborn, CEO and Co-founder of HTT. “As we move forward with commercialization of the system and our technology, our biggest challenge remains the creation of a new regulatory framework.”
Munich Re’s Special Enterprise Risks Unit had been created specifically to look at the risks and challenges posed by HTT’s technology, with the report forming the foundation for active strategic risk assessment.
"The technology developed by HTT is set to fundamentally change the way we travel in the future,” said Torsten Jeworrek, member of the Munich Re Board of Management. “Such technological shifts give rise to new insurance needs that demand innovative solutions – which our Hyperloop team at Corporate Insurance Partner is happy to develop.”
As a result of the successful risk assessment, HTT are now set to begin building their project.
"Now with further validation that our technologies and system are feasible and insurable, we are ready to build,” said Chairman and Co-founder of HTT, Bibop Gresta. “We are delighted to have found an innovative partner in Munich Re that takes a constructive and cooperative approach to our very specific needs."
The two companies will continue to work cooperate in the hope of making HTT becoming a real possibility in the not so distant future.
Discord buys Sentropy to fight against hate and abuse online
Discord, a popular chat app, has acquired the software company Sentropy to bolster its efforts to combat online abuse and harassment. Sentropy, monitors online networks for abuse and harassment, then offers users a way to block problematic people and filter out messages they don’t want to see.
First launched in 2015 and currently boasting 150 million monthly active users, Discord plans to integrate Sentropy’s own products into its existing toolkit and the company will also bring the smaller company’s leadership group aboard. Discord currently uses a “multilevel” approach to moderation, and a Trust and Safety (T&S) team dedicated to protecting users and shaping content moderation policies comprised 15% of Discord’s workforce as of May 2020.
“T&S tech and processes should not be used as a competitive advantage,” Sentropy CEO John Redgrave said in a blog post on the announcement. “We all deserve digital and physical safety, and moderators deserve better tooling to help them do one of the hardest jobs online more effectively and with fewer harmful impacts.”
Cleanse platforms of online harassment and abuse
Redgrave elaborated on the company’s natural connection with Discord: “Discord represents the next generation of social companies — a generation where users are not the product to be sold, but the engine of connectivity, creativity, and growth. In this model, user privacy and user safety are essential product features, not an afterthought. The success of this model depends upon building next-generation Trust and Safety into every product. We don’t take this responsibility lightly and are humbled to work at the scale of Discord and with Discord’s resources to increase the depth of our impact.”
Sentropy launched out of stealth last summer with an AI system designed to detect, track and cleanse platforms of online harassment and abuse. The company emerged then with $13 million in funding from notable backers including Reddit co-founder Alexis Ohanian and his VC firm Initialized Capital, King River Capital, Horizons Ventures and Playground Global.
“We are excited to help Discord decide how we can most effectively share with the rest of the Internet the best practices, technology, and tools that we’ve developed to protect our own communities,” Redgrave said.