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New York Department of Financial Services Issues Guidance Regarding Life Insurers’ Use of External Consumer Data in Underwriting

Data Matters

On January 18, 2019, the New York State Department of Financial Services (NYDFS) issued Circular Letter 2019-1 (the Circular Letter), addressing insurers’ use of external consumer data and information sources in underwriting for life insurance. Unlawful Discrimination.

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Oracle Critical Patch Update for January 2022 will fix 483 new flaws

Security Affairs

.” The CPU will address critical vulnerabilities in Oracle Essbase, Graph Server and Client, Secure Backup, Communications Applications, Communications, Construction and Engineering, Enterprise Manager, Financial Services Applications, Fusion Middleware, Insurance Applications, PeopleSoft, Support Tools, and Utilities Applications.

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How IBM and AWS are partnering to deliver the promise of AI for business

IBM Big Data Hub

One of the largest children clothing retailer in the US utilizes this solution to streamline its complex supply chain. Real-time data analytics helps in quick decision-making, while advanced forecasting algorithms predict product demand across diverse locations.

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The most valuable AI use cases for business

IBM Big Data Hub

Promote cross- and up-selling Recommendation engines use consumer behavior data and AI algorithms to help discover data trends to be used in the development of more effective up-selling and cross-selling strategies, resulting in more useful add-on recommendations for customers during checkout for online retailers.

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6 climate change adaptation strategies every organization needs today

IBM Big Data Hub

In Florida and California, where hurricanes and wildfires respectively have become more rampant, some insurance providers are choosing to stop servicing these regions entirely. In retail, for example, use future flood risk predictions to inform store location planning, raw material procurement, and inventory supply chain logistics.

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Regulatory Update: NAIC Summer 2021 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Summer 2021 National Meeting (Summer Meeting) August 14-17, 2021. Highlights include, among others, adoption of revised risk-based capital bond factors for life insurers, amendments to SSAP No. NAIC Adopts Revised Risk-Based Capital Bond Factors for Life Insurers.

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Don’t Follow the Money; Follow the Customer!

Bill Schmarzo - Dell EMC

If you complete the full Fluvastatin prescription, then we’ll reduce your monthly healthcare insurance payment by 5%.”. Check out “ The New Normal: Big Data Business Model Disintermediation and Disruption ” for more details on business model disruption and customer disintermediation. Optimizing the Customer Experience.