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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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Turning climate risks into business opportunities 

IBM Big Data Hub

Substantial repair costs might arise, particularly impacting insurance companies. In some business sectors, such as financial services, fast-moving consumer goods and healthcare, business interruptions can have a significant detrimental impact on daily life.

Risk 65
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Unlocking the power of chatbots: Key benefits for businesses and customers

IBM Big Data Hub

The latest artificial intelligence (AI) chatbots , also known as intelligent virtual assistants or virtual agents, not only understand natural conversations thanks to advanced language models but also proactively automate various tasks using conversational AI technology.

Sales 93
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Ephesoft Recognized as Alfresco Software’s Global Technology Partner of the Year

Info Source

Together, we deliver a more comprehensive content services solution for customers.”. Learn more about how both solutions benefitted an insurance company that migrated 10 million documents in 7 days, centralized 18 different systems and saw a 99% process improvement in the mailroom.

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Ireland: Large-scale inquiries progress as DPC budget and staff numbers ramp up

DLA Piper Privacy Matters

Most incidents reported originate from the private sector ( 3,667 ), with 2,707 incidents reported from public sector organisations in Ireland such as public sector bodies, banks, insurance and telecom companies. Financial Services Sector Focus. In November, the DPC launched the revised Breach Notification Webform.

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ABBYY Acquires TimelinePI to Strengthen Leadership Role in Digital Transformation

Info Source

The combination of ABBYY’s deep understanding of enterprise content in all its forms with the critical process context provided by the TimelinePI technology allows customers to achieve a level of digital intelligence previously unavailable. We call this Digital IQ for the enterprise. The use cases for Digital IQ cross all industry boundaries.

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#ModernDataMasters: Martin Squires, The Analysis Foundry

Reltio

It’s the classic garbage in garbage out, but it is even more important now as we move into the real drive towards machine learning and artificial intelligence. Particularly the data governance side is beginning to be seen as really important.