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New York Department of Financial Services Issues Guidance Regarding Life Insurers’ Use of External Consumer Data in Underwriting

Data Matters

On January 18, 2019, the New York State Department of Financial Services (NYDFS) issued Circular Letter 2019-1 (the Circular Letter), addressing insurers’ use of external consumer data and information sources in underwriting for life insurance. Unlawful Discrimination.

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Effective customer information management builds better digital experiences

OpenText Information Management

Delivering excellent digital customer experiences has become a defining factor for financial services organizations today. The Financial Brand suggests that banks with customer-centric cultures are 60% more profitable than others. Why is that?

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The Week in Cyber Security and Data Privacy: 4 – 10 December 2023

IT Governance

Source (New) Transport USA Yes 129,611 Tcman Source (New) Manufacturing Spain Yes 108 GB (179 files) Compass Group Italia Source (New) Hospitality Italy Yes 107 GB Pan-American Life Insurance Group, Inc. Incorporated Source (Update) Insurance USA Yes 7,361 Advantis Global, Inc. and Robert W. Baird & Co.

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US banks Q3 results shine light on financial services innovation

Info Source

For example, ChatBot technology is becoming particularly popular in banking for customer service, by cutting down handling times and accelerating payments processing, enabling better customer interaction by eliminating errors and increasing efficiency.

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How AI is fueling the growing market for cloud-based data unification

Reltio

Data fragmentation and silos are common challenges faced by various industries, including financial services, insurance, B2B, and retail. Financial institutions struggle with regulatory compliance, while insurance companies face inefficiencies in underwriting and claims due to siloed data.

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Oracle Critical Patch Update for January 2022 will fix 483 new flaws

Security Affairs

.” The CPU will address critical vulnerabilities in Oracle Essbase, Graph Server and Client, Secure Backup, Communications Applications, Communications, Construction and Engineering, Enterprise Manager, Financial Services Applications, Fusion Middleware, Insurance Applications, PeopleSoft, Support Tools, and Utilities Applications.

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The Week in Cyber Security and Data Privacy: 22 – 28 April 2024

IT Governance

Known data breached Discord (via Spy.pet) Source (New) IT services USA Yes 4,186,879,104 Baidu, Inc., Source (New) Retail USA Yes Unknown Autodesk Source (New) Software USA Yes Unknown DATAIR Employee Benefit Systems, Inc.