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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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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

Insurance 295
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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.

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Impact of IDP on Business Growth – Customer Onboarding Use Case

Info Source

By Petra Beck, Senior Analyst Capture Software We are often faced with questions like: How do we justify an investment in a Capture or Intelligent Document Processing (IDP) solution? These inputs arrive through different channels in different formats, a significant portion often as paper documents.

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NEW TECH: This free tool can help gauge, manage third-party cyber risk; it’s called ‘VRMMM’

The Last Watchdog

Turn the corner into 2019 and we find Citigroup, CapitalOne, Wells Fargo and HSBC Life Insurance among a host of firms hitting the crisis button after their customers’ records turned up on a database of some 24 million financial and banking documents found parked on an Internet-accessible server — without so much as password protection.

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Security Compliance & Data Privacy Regulations

eSecurity Planet

are subject to laws such as the Health Insurance Portability and Accountability Act (HIPAA) and the Health Information Technology for Economic and Clinical Health Act (the HITECH Act), as well as regulations such as the Clinical Laboratory Improvements Amendments (CLIA). Healthcare Data Privacy Laws. Health data and patient data in the U.S.

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Kofax Named a Strong Performer in Digital Process Automation by Independent Research Firm

Info Source

In this evaluation, Kofax was cited as a “Strong Performer” excelling in document automation. With a focus on customer onboarding in complex and regulatory environments like financial services, mortgage generation and insurance, Kofax offers a comprehensive solution”. .