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The risks and limitations of AI in insurance

IBM Big Data Hub

In my previous post , I described the different capabilities of both discriminative and generative AI, and sketched a world of opportunities where AI changes the way that insurers and insured would interact. Usage risk—inaccuracy The performance of an AI system heavily depends on the data from which it learns.

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Subject Access Request: Germany’s highest court widens the scope of data subject access requests in Germany

Data Protection Report

Germany’s highest civil court, the Federal Court Of Justice ( Bundesgerichtshof , the FCJ ), has just published a decision specifying the scope of data subject access requests (DSARs). The defendant was a life insurance company and the claimant their insured. Knowledge of the data subject of information is irrelevant.

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The business value of operating core insurance solutions on the cloud

IBM Big Data Hub

Although interest rates have increased at an unprecedented rate over the past year due to efforts by central banks to curb inflation, insurers are locked into low-yielding investments, and it will take several years for their investment yields to improve. Core modernization (processes and technology) is a top priority for every insurer.

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American Insurance firm State Farm victim of credential stuffing attacks

Security Affairs

The American group of insurance and financial services companies State Farm disclosed a credential stuffing attack it has suffered in July. The American group of insurance and financial services companies State Farm revealed that it was the victim of a credential stuffing attack it has suffered in July. The experts detected 8.3

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NY Charges First American Financial for Massive Data Leak

Krebs on Security

In May 2019, KrebsOnSecurity broke the news that the website of mortgage title insurance giant First American Financial Corp. based First American [ NYSE:FAF ] is a leading provider of title insurance and settlement services to the real estate and mortgage industries. It employs some 18,000 people and brought in $6.2 billion in 2019.

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New York Regulators Call on Insurers to Strengthen the Cyber Underwriting Process

Hunton Privacy

As reported on the Hunton Insurance Recovery blog , on February 4, 2021, the New York Department of Financial Services (“NYDFS”), which regulates the business of insurance in New York, has issued guidelines, in the Insurance Circular Letter No. sought coverage for expenses under its property insurance policy.

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HHS Targets Small Behavioral Health Clinic for HIPAA Violations Following Ransomware Investigation

Hunton Privacy

The resolution agreement requires Green Ridge to pay $40,000 to OCR and enter into a Corrective Action Plan that obligates Green Ridge to, among other items: Implement a security management process, including a thorough risk analysis, which is to be provided to HHS for review within 60 days.