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Is Artificial Intelligence relevant to insurance?

IBM Big Data Hub

In this first of two posts, I investigate the anatomy of artificial intelligence and its impact on insurance. Continued advancement in AI development has resulted today in a definition of AI which has several categories and characteristics. Generative AI is artificial intelligence that can create new content.

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Record Retention Policy for Businesses: A Strategic Guide to Compliance and Efficiency

Armstrong Archives

Also, their policies must be tailored to their specific industry requirements and business size. First, identify the types of records your business generates and categorize them (e.g., Each category will have different legal and operational retention requirements. financial, personnel, customer-related).

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Security Compliance & Data Privacy Regulations

eSecurity Planet

And since the EU’s General Data Protection Regulation (GDPR) took effect May 25, 2018, IT compliance issues have been at the forefront of corporate concerns. It once might have been said that perfect compliance with GDPR generally meant being mostly compliant with most privacy laws if applied globally. Healthcare Data Privacy Laws.

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A guide to the GDPR for insurance companies

IT Governance

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.

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CCPA Marches On: California Attorney General Proposes Further Revisions to CCPA Regulations, Industry Pleads for Enforcement Delay Amid COVID-19 Crisis

Data Matters

On March 11, 2020, the California Attorney General (“AG”) released the third turn of proposed California Consumer Privacy Act (“CCPA”) regulations. Language from an earlier draft that prompted widespread use of granular charts to repeatedly reiterate information per category of personal information has not made a reappearance.

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Regulatory Update: NAIC Summer 2022 National Meeting

Data Matters

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.

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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.