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NYDFS issues significant guidance on insurers using AI or external data

Data Protection Report

On January 17, 2024 the New York Department of Financial Services (“NYDFS”) published a Proposed Insurance Circular Letter (“Proposed Circular”) regarding the use of artificial intelligence systems (“AIS”) and external consumer data and information sources (“ECDIS”) in insurance underwriting and pricing.

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Mitigating the impact of climate change in insurance and other financial services  

IBM Big Data Hub

According to Berenberg analysts , individual insurance companies faced total claims estimates of up to approximately USD 300 million. For other financial services firms outside of the insurance sector, property accepted as loan security might face climate-related risks as well.

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SHARED INTEL Q&A: My thoughts and opinions about cyber threats — as discussed with OneRep

The Last Watchdog

Editor’s note: I recently had the chance to participate in a discussion about the overall state of privacy and cybersecurity with Erin Kapczynski, OneRep’s senior vice president of B2B marketing. Erin: What cybersecurity technologies are you most excited about right now?

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Automotive parts giant AutoZone disclosed data breach after MOVEit hack

Security Affairs

American retailer and distributor of automotive parts and accessories AutoZone discloses a data breach after a MOVEit attack. AutoZone disclosed a data breach resulting from the hack of their MOVEit Transfer installation. Based on that analysis, we have determined that certain of your information was included in those files.”

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Mastering healthcare data governance with data lineage

IBM Big Data Hub

The healthcare industry faces arguably the highest stakes when it comes to data governance. For starters, healthcare organizations constantly encounter vast (and ever-increasing) amounts of highly regulated personal data. healthcare, managing the accuracy, quality and integrity of data is the focus of data governance.

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5 misconceptions about cloud data warehouses

IBM Big Data Hub

In today’s world, data warehouses are a critical component of any organization’s technology ecosystem. The rise of cloud has allowed data warehouses to provide new capabilities such as cost-effective data storage at petabyte scale, highly scalable compute and storage, pay-as-you-go pricing and fully managed service delivery.

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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.