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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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The Do’s and Don’ts of Successful EDI Operations (Getting Started)

Rocket Software

For instance, retailers, manufacturers, insurers, healthcare providers, and transportation companies use EDI daily to communicate critical business information with trading partners, customers, and electronic marketplaces. Do have a contingency plan for unforeseen events .

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The most valuable AI use cases for business

IBM Big Data Hub

They can also help businesses predict future events and understand why past events occurred. By infusing AI into IT operations , companies can harness the considerable power of NLP, big data, and ML models to automate and streamline operational workflows, and monitor event correlation and causality determination.

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List of Data Breaches and Cyber Attacks in February 2023 – 29.5 Million Records Breached

IT Governance

announces security breach (10,000) CompSource Mutual Insurance Company reports security incident (unknown) Paul Smith’s College announces cyber attack (unknown) Cardiovascular Associates files notice of security breach (unknown) Rockler Companies says cyber attackers breached its systems (8,604) Emtec, Inc.

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Historic Charges: First Enforcement Action Filed by New York Department of Financial Services Under Cybersecurity Regulation

Data Matters

On July 21, 2020, the New York State Department of Financial Services (NYDFS or the Department) issued a statement of charges and notice of hearing (the Statement) against First American Title Insurance Company (First American) for violations of the Department’s Cybersecurity Requirements for Financial Services Companies, 23 N.Y.C.R.R.

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Getting ready for artificial general intelligence with examples

IBM Big Data Hub

Image (55%): Gen AI can simulate how a product might look in a customer’s home or reconstruct an accident scene to assess insurance claims and liability. Example: While building an e-commerce feature, a programmer tells AGI, “I need a function to calculate shipping costs based on location, weight and method.”

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Conversational AI use cases for enterprises

IBM Big Data Hub

ML and DL lie at the core of predictive analytics, enabling models to learn from data, identify patterns and make predictions about future events. In e-commerce, this capability can significantly reduce cart abandonment by helping customers make informed decisions quickly.