COVID-19 will be a boon for cyber insurance providers because organizations that speed their digital transformation will become increasingly vulnerable to cyberattacks, reported S&P Global Ratings Wednesday. Though the yearly economic costs of cybercrime already exceed $700 billion, “insured cyber losses are still very small at below $5 billion," it said. "This indicates the untapped potential of the cyber insurance market." S&P expects the cyber insurance market to increase 20%-30% a year on average, with small and midsize enterprises “a key avenue for growth.”

Tech is no longer “part of the employee experience,” it’s the “entire employee experience,” said CEO Dean Hager on a Q2 call, Jamf's first as a public company. It manages Apple devices and services, and revenue grew 29% from the 2019 quarter. Connectivity tools are “now a necessity,” said Hager Tuesday. “Even after we work through this difficult period, we do not believe the world will go back to the way things were. These past several months have laid the groundwork for a future where people can work from anywhere, learn anywhere and receive care anywhere.” When COVID-19 hit, schools that were more “digitally advanced were able to continue classes” remotely, others weren't, said Hager. “But in Q2, all schools knew they needed to prepare learning strategies for the upcoming school year that would effectively support both educators and students whether school was remote, in person, hybrid or a combination over time.” The Coronavirus Aid, Relief and Economic Security Act (see 2003270058) is giving schools “an avenue to fund the digital initiatives required for distance learning,” he said. The total addressable market for Apple “enterprise management” is expected to rise at a 17.8% compound annual growth rate, reaching $23.4 billion globally by the end of 2024, said Hager. Credit the “consumerization” of information tech, he said. “Employees are less inclined to draw a line between work and personal technology and commonly prefer not to settle for enterprise solutions that are harder to use than what they have in their homes. This is a trend that is seeing even more traction due to the digital transformation happening in response to COVID-19.” Chief Financial Officer Jill Putman said there's “embedded uncertainty around the IT spending environment as renewals, capital spending and new IT projects are subject to more scrutiny across organizations.” The stock closed 6.5% lower Wednesday at $38.50.

"Video is the new voice," said Zoom CEO Eric Yuan on quarterly call Monday. "There's no reason for any business to deploy two separate systems." COVID-19 "completely accelerated" the digital transformation for "every enterprise," said Yuan. "You want to support employees no matter where they are, where the traditional on-prem[ises] system really is not applicable anymore." Demand for remote-work solutions remains high, as organizations “moved beyond addressing immediate business continuity needs” into strategizing for a post-pandemic future, said the corporate chief. Employers are “actively redefining and embracing new approaches to support a future of working anywhere, learning anywhere, and connecting anywhere,” said Yuan. Revenue soared 355% from the year-earlier quarter. New subscriptions were 81% of the growth, said Chief Financial Officer Kelly Steckelberg. “Demand remained at heightened levels, combined with lower than expected churn,” she said. “This demand was broad-based.” But small firms churned at a higher rate, the CFO said. The stock closed 41% higher Tuesday at $457.69.

U.S. communications networks weathered the pandemic and increased online traffic because of the huge investments providers made in those networks in recent years, FCC Chairman Ajit Pai said Tuesday. Those investments came in large part due to the FCC throttling back on regulation, Pai told the ITU's Global Symposium for Regulators, per prepared remarks. He said the pandemic makes clear more work is needed toward universal access to broadband, because access "is critical to being a full participant in today’s economy and society."

Though the COVID-19 “response” stimulated demand for PCs and tablets from enterprises and consumers, IDC is forecasting only a 3% rise in shipments this year, it reported Tuesday. "Technology has been the big winner in all of this as device spending has been especially surprising, with spend at year-end, holiday-like levels throughout much of" Q2. The growth is “notable given that 2019 was an unusually strong PC market,” it said. The recent surge in PC and tablet demand “has some legs,” but IDC expects the market to decline in 2021 “as businesses and consumers continue to deal with the economy uncertainty.” It’s forecasting a long-term contraction, shipments declining at a 2.2% compound annual growth rate through 2024.

Walmart’s latest membership program, Walmart+, launches Sept. 15 for $98 annually, or $12.95 monthly, said the retailer Tuesday. It replaces the Delivery Unlimited subscription service introduced last September. The new service has unlimited free delivery for technology, toys, groceries and household essentials. Members can scan items as they shop and use Walmart Pay for a “touch-free” payment experience; they can also get fuel discounts up to 5 cents a gallon at Walmart, Murphy USA and Murphy Express. Walmart has tried and ended several membership programs.

The FCC, Department of Health and Human Services and Agriculture Department will collaborate on rural health issues through the Rural Telehealth Initiative, the commission said Tuesday, announcing a memorandum of understanding among the agencies. The FCC said the work will include addressing service provider challenges and promoting broadband services and technology in rural areas. It follows President Donald Trump's telehealth executive order last month (see 2008040068). "Better access to telehealth in rural America means better health for some of our most vulnerable and greater resilience at times of crisis like the COVID-19 pandemic,” said HHS Secretary Alex Azar. Better telehealth access is key to increasing rural prosperity, "especially now that the coronavirus has presented new challenges to rural healthcare," said Agriculture Secretary Sonny Perdue. The FCC said the three agencies will establish a Rural Telehealth Initiative Task Force, with representatives from each, to meet regularly to consider recommendations or guidelines and to exchange expertise, scientific and technical information, data and publications. Chairman Ajit Pai's rural broadband adviser, Preston Wise, will be the FCC's liaison, said the memorandum. NTCA applauded the task force, saying it looks forward to working with it.

The economic fallout “continues as a shock,” said National Retail Federation Chief Economist Jack Kleinhenz. Census Bureau weekly surveys “highlight the fragility” of small businesses, he said. Though some of the most “pervasive difficulties” early in the pandemic eased as the economy began reopening, small business optimism declined, said NRF on Tuesday. Earlier canvasses found 25% of small businesses predicted recovery would take two or three months. Only 4.1% of respondents polled in the week ending Aug. 15 thought recovery might be possible in that time.

COVID-19's disruption of the U.S. labor force will continue to shape how and where people work, with the U.S. mobile worker segment forecast to grow from 78.5 million this year to 93.5 million in 2024, some 60% of employees, reported IDC Tuesday. Information workers will surge over the next 12-18 months due to an expansion in remote and work-from-home workers post-pandemic. IDC finds 90% of companies think it's likely more of their staff will work from home in the future.

Intelsat expects to close its $400 million buy of Gogo's commercial aviation connectivity business in Q1, it said Monday. It said the deal will expand its footprint in commercial in-flight connectivity by pairing its satellite and ground network with Gogo's installed base of more than 3,000 commercial aircraft. "Consumer demand for in-flight connectivity is expected to grow at a double-digit rate over the next decade, notwithstanding the impact of COVID-19," said Intelsat. Gogo took a "devastating" Q2 financial hit from the pandemic, said CEO Oakleigh Thorne on a recent investor call (see 2008100010): "If you sell internet on an airplane and no one’s on the plane, it’s tough to make a living.” Intelsat said it will use cash and debtor-in-possession financing from its Chapter 11 bankruptcy reorganization for the deal.