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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. Actual Actuarial Validity.

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The risks and limitations of AI in insurance

IBM Big Data Hub

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. Usage risk—inaccuracy The performance of an AI system heavily depends on the data from which it learns.

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The Financial Service and Insurance Industries Need Intelligent Document Processing; Here’s Why

Rocket Software

Analyst firm IDC recently published a Vendor Spotlight report featuring ASG Mobius Content Services (Mobius) and its applications in the financial service and insurance industries. IDP Trends in the Financial and Insurance Industries. Challenges to Effective IDP.

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SHARED INTEL Q&A: My thoughts and opinions about cyber threats — as discussed with OneRep

The Last Watchdog

Byron: To detect deep fakes, organizations can use digital watermarking, AI-driven detection tools, and media provenance tracking. Regular training and simulations can help reduce risks associated with human errors. Regular training and simulations can help reduce risks associated with human errors.

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Privacy in an open-data world: Why government agencies need to be proactive

Collibra

Government agencies — from DC to Duluth, NYC to LA — are struggling. As more of our interactions and transactions occur online, the need for robust data protection measures becomes increasingly critical to safeguard personal data and maintain public trust in government institutions. There’s no going back.

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Best Third-Party Risk Management (TPRM) Tools of 2021

eSecurity Planet

In a developing market, third-party risk management (TPRM) software and tools could be the answer to helping organizations fill the gap. This article looks at the top third-party risk management vendors and tools and offers a look into TPRM solutions and what buyers should consider before purchasing. Aravo TPRM.

Risk 130
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The False Economy of Deprioritising Security

IT Governance

Possible reasons for this trend change Reasons for organisations deprioritising security may include: Rising costs and economic uncertainty; Geopolitical tensions and uncertainty; and Fewer UK businesses identifying attacks or breaches, according to government data. % That increases to two in three for medium and large businesses.

Security 116