IBM Big Data Hub

MAY 8, 2023

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. One example of this is facial recognition being used for the illegal tracking of people’s movement.

Insurance 69

Insurance Risk Artificial Intelligence Government 69

IT Governance

OCTOBER 15, 2020

That’s why they organisations increasingly relying on cyber insurance policies to cover the costs when data breaches and cyber attacks occur. But just how helpful is cyber insurance? What is cyber insurance? How does cyber insurance work? What does a cyber insurance policy cover? Who needs cyber insurance?

Insurance 122

Insurance Data breaches Risk Security 122

Security Affairs

APRIL 22, 2022

When security fails, cyber insurance can become crucial for ensuring continuity. Our reliance on digital technology and the inherited risk is a key driving factor for buying cyber risk insurance. If the technology were to become unavailable, the resulting business impact could be mitigated with cyber insurance.

Insurance 99

Insurance Risk Cybersecurity Ransomware 99

Thales Cloud Protection & Licensing

MAY 26, 2023

CIAM in insurance: A unified, secure user experience with a single login madhav Fri, 05/26/2023 - 07:33 In recent years, the insurance industry has transformed from a singularly focused entity to a multi-brand or multi-service type of business. Adding value to the user experience (a top priority for 59% of insurers) 2.

Insurance 71

Insurance Digital transformation Security Authentication 71

Thales Cloud Protection & Licensing

JULY 4, 2022

How Cybersecurity Insurance Can Work To Help An Organization. In the last 20+ years, cybersecurity insurance has added risk transference to the available palette of palliative choices. I recently spoke with Neira Jones and Danna Bethlehem about how cybersecurity insurance can work to help an organization. regulations.

Insurance 71

Insurance Cybersecurity Cleanup Ransomware 71

IT Governance

AUGUST 25, 2022

Lloyd’s of London has announced that its insurance policies will no longer cover losses resulting from certain nation-state cyber attacks or acts of war. In a memo sent to the organisation’s insurance syndicates , Underwriting Director Tony Chaudhry said that Lloyd’s remains “strongly supportive” of policies that cover cyber attacks.

Insurance 105

Insurance IT Government Risk 105

Reltio

JUNE 9, 2022

The insurance industry is facing unprecedented disruption. Insurance carriers have been called to transform customer experience, business offerings, and operations. As an insurer, your current business models are being challenged by new thinking, new competitors, and new ways of working.

Digital transformation 52

Digital transformation Insurance MDM Customer Experience 52

Krebs on Security

AUGUST 14, 2020

The “RCM” portion of its name refers to “revenue cycle management,” an industry which tracks profits throughout the life cycle of each patient, including patient registration, insurance and benefit verification, medical treatment documentation, and bill preparation and collection from patients.

Ransomware 362

Ransomware Insurance Phishing Access 362

Hunton Privacy

FEBRUARY 25, 2021

As reported on the Hunton Insurance Recovery blog , on February 4, 2021, the New York Department of Financial Services (“NYDFS”), which regulates the business of insurance in New York, has issued guidelines, in the Insurance Circular Letter No.

Insurance 70

Insurance Cybersecurity Risk Education 70

Info Source

AUGUST 31, 2022

The dominant theme in Africa’s print industry is currently logistics and supply. Like the critical shortages we have seen in the chip industry, there simply is not enough stock of printers and much print-related equipment. This is a tight industry across the continent. Chris de Beer, Africa Regional Manager at Infosource. .

Marketing 52

Marketing Sales Retail Insurance 52

IBM Big Data Hub

NOVEMBER 30, 2023

When lumbermills were shuttered during the 2023 Canadian wildfires, the limited availability and higher price of lumber was particularly hard on the housing industry across North America. In retail, for example, use future flood risk predictions to inform store location planning, raw material procurement, and inventory supply chain logistics.

Energy and Utilities 89

Energy and Utilities Insurance Risk Retail 89

Rocket Software

AUGUST 17, 2020

Depending on what industry you’re in, your approach to security may be very different. For almost every industry, multi-factor authentication can be beneficial. For example, it can use adaptive authentication—an IP address or geographic location—and compare it to typical behavior for the account. . Benefits for Healthcare.

Authentication 52

Authentication Financial Services Passwords Insurance 52

CGI

NOVEMBER 10, 2016

The growing importance of dynamic pricing and rating in insurance. On June 20, 2016, CGI held a roundtable discussion on dynamic rating and pricing in the insurance industry that involved nearly all major Dutch insurers. This is in contrast to the traditional cost-plus approach to pricing in the insurance industry.

Insurance 69

Insurance Retail Sales Risk 69

IT Governance

MAY 30, 2018

The EU General Data Protection Regulation (GDPR) is designed to harmonise data protection laws across the EU, but certain industries will have to respond differently in order to achieve compliance. A report published by research and consultancy company Celent highlights the challenges that the GDPR presents to insurers.

Insurance 49

Insurance GDPR Compliance Data collection 49

The Last Watchdog

AUGUST 8, 2022

Digital twins are just one example of a complex system, but they expose companies to a lot of risk if they are not properly implemented with a cybersecurity plan in place. For example, think of digital cities, or digital infrastructure assets. Another example is a city using a digital twin so that they can model floods or earthquakes.

Security 214

Security Artificial Intelligence Risk Cybersecurity 214

Krebs on Security

JULY 21, 2023

For example, 88 percent listed a Director of Human Resources (or “Chief People Officer”), and 37 out of 100 included a Chief Marketing Officer. Schreider said while Datos Insights focuses mostly on the financial and insurance industries, a recent Datos survey echoes the IANS findings from last year.

Security 215

Security Risk Insurance Cybersecurity 215

CGI

SEPTEMBER 12, 2017

Data analytics – how should insurers look to the future? With a plethora of new data sources across the property and casualty (P&C) general insurance lifecycle now becoming available, how do insurers create an all-encompassing data analytics policy for the future? Tue, 09/12/2017 - 03:00. Connected and monitored energy usage.

Insurance 40

Insurance Analytics Risk IoT 40

CGI

APRIL 25, 2018

Time for a new definition of the "composite" insurer? Composite insurer table. In the UK we rightly take pride in the fact that our ‘local’ propositions have played a significant role in the global development of what we now commonly call ‘Insurance’, but is that all about to change? . p.butler@cgi.com. Wed, 04/25/2018 - 09:26.

Insurance 40

Insurance Retail Marketing IT 40

HL Chronicle of Data Protection

MAY 13, 2019

In the past two years, multiple state bills that have been introduced in the US to provide for cybersecurity requirements and standards to the insurance sector, with recent legislative activity taking place in particular within the States of Ohio, South Carolina, and Michigan. NYDFS: Setting a new bar for state cybersecurity regulation.

Insurance 40

Insurance Cybersecurity Data breaches Financial Services 40

Security Affairs

OCTOBER 4, 2023

The phishing attacks were aimed at senior executives across various industries, primarily in Banking, Financial, Insurance, Property Management and Real Estate, and Manufacturing sectors. The subdomain ‘t.indeed.com’ is supplied with parameters to redirect the client to another target (example.com) as shown in the example below.”

Phishing 126

Phishing Insurance Manufacturing Authentication 126

Thales Cloud Protection & Licensing

APRIL 11, 2023

There are a number of startups emerging in this space, which is a sign of a healthy pipeline of innovation in the industry. Still, interestingly, it has also rekindled interest in dynamic authorization (or externalized authorization) – something the industry has been discussing for well over a decade. Is this all coincidental?

B2C 87

B2C B2B Retail Insurance 87

IBM Big Data Hub

NOVEMBER 20, 2023

For example, 45% of cloud leaders cited concerns about cybersecurity or privacy and confidentiality of data and information as the key obstacle in their push to implement generative AI. The findings indicate that highly regulated industries are increasingly weighing risks, such as security, when considering the technology.

Cloud 87

Cloud Digital transformation Data structuring Marketing 87

CGI

AUGUST 31, 2016

Insurers’ role will be critical in improving cybersecurity standards. Cyber insurance can be obtained to cover such costs as crisis management, media management, incident management, technical remediation, legal fees, call management, data subject notification, breach investigation and many other losses resulting from a cyber-attack.

Insurance 40

Insurance Cybersecurity Risk Marketing 40

Data Matters

SEPTEMBER 7, 2022

The National Association of Insurance Commissioners (NAIC) held its Summer 2022 National Meeting (Summer Meeting) August 9–13, 2022. The Privacy Working Group has been reviewing state insurance privacy protections regarding the collection, ownership, use, and disclosure of information gathered in connection with insurance transactions.

Insurance 78

Insurance Paper Privacy Risk 78

Armstrong Archives

DECEMBER 19, 2023

Also, their policies must be tailored to their specific industry requirements and business size. Next, consult legal and industry-specific guidelines to determine the minimum retention periods. Industry Variations in Record Retention Different industries face unique challenges and requirements when it comes to record retention.

Compliance 52

Compliance Archiving Digital transformation Sales 52

Data Protection Report

DECEMBER 4, 2023

For example, third parties may be retained to perform payroll activities, store data in a centralized location, or send targeted advertisements to consumers. Indemnification and Insurance Data controllers are responsible for ensuring compliance with privacy laws.

Insurance 64

Insurance Privacy Compliance Personal data 64

IBM Big Data Hub

MAY 9, 2024

The healthcare industry faces arguably the highest stakes when it comes to data governance. For example: Healthcare providers regularly rely on medical records to diagnose and establish treatment plans for patients. Inaccuracies might also lead to more delays or complications with insurance coverage. The consequence?

Government 69

Government GDPR Compliance Analytics 69

Data Matters

APRIL 10, 2020

The AG’s revised March 2020 proposed regulations provide an example of how a business may respond to a request to know that may include biometric information. For example, in the March proposed regulations, the AG did not offer guidance on the protection of trade secrets or procedures to standardize “household” requests.

Privacy 68

Privacy Sales Insurance Compliance 68

Data Matters

SEPTEMBER 20, 2021

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.

Insurance 88

Insurance e-Delivery Paper Sales 88

CGI

SEPTEMBER 5, 2018

UK Honey Bees and Insurance; an existential threat in the wings? There is of course one difference between the hive and the Insurance sector – the ability to respond. Wed, 09/05/2018 - 04:28.

Insurance 40

Insurance Sales Marketing IT 40

eSecurity Planet

AUGUST 9, 2022

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.

Data Privacy 145

Data Privacy Compliance Privacy Security 145

AIIM

JULY 22, 2021

For many businesses, content and data capture tools are highly sought out, particularly in the banking and insurance sectors. For example, let’s say a loan application comes in for someone seeking a mortgage property. The Difference Between Intelligent Document Processing and RPA — Or Is There One? More on Information Capture.

Unstructured data 254

Unstructured data Information capture Insurance Compliance 254

IBM Big Data Hub

JANUARY 16, 2024

The start of 2024 brings forth many questions as to what we can expect in the year ahead, especially in the financial services industry, where technological advances have skyrocketed and added complexities to an already turbulent landscape. One example of this is in insurance.

Financial Services 50

Financial Services Customer Experience Cloud Digital transformation 50

The Last Watchdog

OCTOBER 5, 2023

Erin: Do you think cyber insurance should play a bigger role in companies’ cybersecurity strategies? What factors should organizations consider when selecting a cyber insurance policy? The stakes are sky-high, and the cybersecurity industry is at a critical juncture. Leadership should prioritize cybersecurity at all levels.

Cybersecurity 203

Cybersecurity Privacy Cloud IoT 203

Schneier on Security

FEBRUARY 28, 2024

In the first week of January, the pharmaceutical giant Merck quietly settled its years-long lawsuit over whether or not its property and casualty insurers would cover a $700 million claim filed after the devastating NotPetya cyberattack in 2017. The 9/11 attacks cost insurers and reinsurers $47 billion. 11, 2001, terrorist attacks.

Insurance 97

Insurance Government Cybersecurity Risk 97

AIIM

APRIL 21, 2022

Today's consumers don't view companies through the same lens of industry, geography, or size that they used to. It doesn’t matter if you’re an insurance company, local government agency, or something else. Executives in every industry sector feel this pressure, and they are motivated by it. It doesn't matter.

Customer Experience 147

Customer Experience Digital transformation Insurance Government 147

IBM Big Data Hub

FEBRUARY 14, 2024

For example, Amazon reminds customers to reorder their most often-purchased products, and shows them related products or suggestions. In industrial settings, narrow AI can perform routine, repetitive tasks involving materials handling, assembly and quality inspections. Routine questions from staff can be quickly answered using AI.

Artificial Intelligence 84

Artificial Intelligence Retail Unstructured data Insurance 84