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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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The risks and limitations of AI in insurance

IBM Big Data Hub

Artificial intelligence (AI) is polarizing. 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. It excites the futurist and engenders trepidation in the conservative.

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Stretching the boundaries through artificial intelligence: the European proposal for a dedicated regulation. The protection of personal data.

Privacy and Cybersecurity Law

Artificial intelligence feeds on data: both personal and non-personal. It is no coincidence, therefore, that the European Commission’s “ Proposal for a Regulation laying down harmonized rules on Artificial Intelligence ”, published on April 21, 2021 (the Proposal), has several points of contact with the GDPR.

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Top 8 Cyber Insurance Companies for 2022

eSecurity Planet

That’s where cyber insurance may be able to help. For that reason, most experts now recognize that a complete cybersecurity strategy not only includes technological solutions aimed at preventing, detecting, and mitigating attacks, it should also include cyber insurance to help manage the associated financial risks. That’s a 29.1%

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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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ABBYY Launches Global Initiative Promoting the Development of Trustworthy Artificial Intelligence

Info Source

June 9, 2020 – ABBYY< [link] >, a Digital Intelligence company, today launched a global initiative to promote the development of trustworthy artificial intelligence (AI) technology. MILPITAS, Calif., ABBYY is a global company with offices in 13 countries.

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ABBYY Launches Global Initiative Promoting the Development of Trustworthy Artificial Intelligence

Info Source

June 9, 2020 – ABBYY< [link] >, a Digital Intelligence company, today launched a global initiative to promote the development of trustworthy artificial intelligence (AI) technology. MILPITAS, Calif., ABBYY is a global company with offices in 13 countries.