How Cyber Insurance Is Changing in the GDPR Era

Data Breach Today

Cybersecurity Insurance

Schneier on Security

Good article about how difficult it is to insure an organization against Internet attacks, and how expensive the insurance is. In my new book -- out in September -- I write: There are challenges to creating these new insurance products. There are two basic models for insurance.

8 Top Cyber Insurance Vendors

eSecurity Planet

Cyber insurance is one more way to manage cybersecurity risk. Here are the top cyber insurance vendors that can help

Apple, Cisco Strike Partnerships for Cyber Insurance

Data Breach Today

Policies Offer Incentives for Good Information Security Practices Apple and Cisco say they've partnered with insurers Aon and Allianz to offer cyber insurance policies for organizations that meet best security practices and use products from the technology companies.

Cybersecurity Insurance: How Underwriting Is Changing

Data Breach Today

Cybersecurity insurers, faced with growing demand, are looking for new ways to better measure their risks, says Aleksandr Yampolskiy, CEO of SecurityScorecard. So some are moving toward more carefully scrutinizing the cybersecurity postures of their potential clients

Hunton Insurance Head Comments on Hotel Data Breach Coverage Dispute

Hunton Privacy

As reported on the Insurance Recovery Blog , Hunton Andrews Kurth insurance practice head Walter Andrews recently commented to the Global Data Review regarding the infirmities underlying an Orlando, Florida federal district court’s ruling that an insurer does not have to defend its insured for damage caused by a third-party data breach. To me, it’s clear that there were two reasonable interpretations of the insurance policy here.”.

Insurance Occurrence Assurance?

Andrew Hay

Though the breaches are concerning, the real story is that the financial institution suing its insurance provider for refusing to fully cover the losses. This, unfortunately, is the nature of insurance. News ciso cyber insurance cyber security insurance security security program

Property and Casualty Insurance needs modernizing

OpenText Information Management

Last year when I was in the process of buying a new house for my family, a home owners insurance company approached me and offered a good insurance policy. It was about the same price as others … The post Property and Casualty Insurance needs modernizing appeared first on OpenText Blogs. Business Process Management Information Management case management Insurance OpenText Process Suite 16 P&C insurance Property and Casualty Insurance

How Hanzo Is Helping in the Fight Against Insurance Fraud

Hanzo Learning Center

Insurance companies don’t always inspire a great deal of sympathy; after all, who enjoys paying their car insurance premium? But insurance companies are engaged in a war. insurance fraud

[Guide] 2018 State of the Insurance Industry

Perficient Data & Analytics

Creating value for customers, employees, partners, and shareholders has always been the core objective of insurance companies. Our new guide highlights the: State of the insurance industry based on our own insights, as well as those from leaders in the space. Most significant challenges diversified insurance, life insurance, and property and casualty insurance companies face and how they are solving them.

Insurance data compromised at Minnesota Department of Human Services

Information Management Resources

About 21,000 individuals receiving health insurance through the Minnesota Department of Human Services are affected by a potential breach. Data breaches Phishing Identity theft protection Insurance

Embracing Strategic Initiatives in the Insurance Industry

Perficient Data & Analytics

Today, insurance companies remain heavily focused on growth, productivity, and efficiency. The answers to these big questions lie in the strategic initiatives that insurance companies must embrace to move their business forward. To learn about them, download our new guide: 2018 State of the Insurance Industry. That is, how can they generate more revenue and increase profitability? How can they get a bigger piece of the pie in a market that offers customers so many options?

7 digital customer experience trends in insurance

Information Management Resources

SMA sees significant spending and shifts in personal lines projects that are aimed at aligning insurers’ strategies to transformation and growth. Customer experience Insurance technology Property and casualty insurance Investment strategies Customer-centricity Core systems Artificial intelligence Strategy Meets Action

Insurers need to formalize IoT strategy

Information Management Resources

Telematics Internet of things Connected cars Connected home Growth strategies Big data Claims Property and casualty insurance Life insurance LexisNexisFour out of five carriers don't have a plan for collecting, analyzing or securing the flood of data from connected devices, according to LexisNexis survey.

ONE Insurance, Munich Re team up for personalized insurance

Information Management Resources

Sensor data Usage-based insurance Customer data Customer-centricity Munich ReThe ONE Coach platform will use sensor data to identify opportunities for risk-management products tailored to the customer.

Group-IB and CryptoIns introduce the world’s first insurance against cyber threats for cryptocurrency exchanges

Security Affairs

Group-IB and Swiss insurance broker ASPIS that owns CryptoIns project, have developed the world’s first scoring model for assessing cryptocurrency exchanges. Group-IB, an international company that specializes in preventing cyber attacks, and a Swiss insurance broker ASPIS SA that owns CryptoIns project, have developed the world’s first scoring model for assessing cryptocurrency exchanges cybersecurity, allowing the exchanges’ clients to ensure their assets.

Enabling Key Stakeholders in the Insurance Industry

Perficient Data & Analytics

Ensuring that agents and brokers have the best tools to evaluate and close opportunities can be a real differentiator for insurance companies. — To learn what else is driving growth, productivity, and efficiency, download our new guide: 2018 State of the Insurance Industry.

Transforming With Optimism in the Insurance Industry

Perficient Data & Analytics

Mario Greco, CEO of Zurich Insurance Group, one of the world’s largest insurance companies, sat down with CNBC following the release of the company’s Q4 2017 earnings. Even after a year full of natural disasters (2017 happens to be the costliest year on record for the global insurance industry) and the potential financial burden (i.e., more claims) that climate change can place on insurers moving forward, the overall feeling about the future is optimistic.

How the top 15 car insurers are going digital

Information Management Resources

Digital Insurance takes a look at the auto insurance carriers with the biggest U.S. Auto insurance Insurtech State Farm Allstate Nationwide Progressive Liberty Mutual Farmers Insurance GEICO Travelersmarket presence and their recent technological initiatives.

Investing in Technology Across the Board in Insurance

Perficient Data & Analytics

— To learn what else is driving growth, productivity, and efficiency, download our new guide: 2018 State of the Insurance Industry. Technology investment is an essential component of most strategic growth and operational efficiency initiatives. Technology comes in two parts. There’s the front-end technology that customers experience. There’s also the back-end technology that other stakeholders (i.e.,

3 leading AI concerns for insurers

Information Management Resources

For AI in insurance, the conversations have moved beyond the use cases and on to the pragmatic details. Artificial intelligence Machine learning

Arron Banks, the insurers and my strange data trail

The Guardian Data Protection

Carole Cadwalladr just wanted to insure her car. In fact, I had no idea about either the question or the answer when I submitted a “subject access request” to Eldon Insurance Services in December last year. Data protection Data and computer security Brexit Cambridge Analytica Insurance industry Insurance Twitter InternetSix months later, she found a mass of personal details held by a firm she had never contacted that is run by Leave.EU’s s biggest donor, Arron Banks.

3 large health insurers, 2 vendors begin test of blockchain

Information Management Resources

Blockchain Distributed ledger technology Health insurancePilot program to use the emerging technology to validate info in provider directories, says Mike Jacobs.

Marsh explores blockchain applications with proof of insurance

Information Management Resources

The commercial insurance broker's pilot, in partnership with IBM and ACORD, is the second such initiative in the P&C sector. Blockchain Brokers Claims Underwriting Risk management Insurance technology Marsh & McLennan Nationwide AIG

Bankrupt Cancer Clinic Chain's Insurer to Cover Breach Fine

Data Breach Today

21st Century Oncology Faces More Than $29 Million in Penalties in Two Settlements In an usual move, federal regulators have made arrangements to have a cyber insurer cover a $2.3

14 top home insurance companies' smart-tech initiatives

Information Management Resources

Homeowners insurance Analytics Internet of things Big data Data security Allstate State Farm Nationwide Progressive Farmers Insurance Liberty MutualA look at how leading property carriers are leveraging connected devices to improve the customer experience.

Incumbent insurers’ advantage: Terabytes of data

Information Management Resources

Insurtech Data warehouses Insurance Drones Blockchain Digital distribution AmTrustCarriers who develop internal innovation capabilities can outrun disruptors thanks to industry knowledge and information resources.

How Cyber Insurance Changes the Conversation Around Risk

Threatpost

In this InfoSec Insider cyber insurance expert Nick Sanna discusses how to balance threat exposures and protecting assets with insurance against hacking, breaches and vulnerabilities. Hacks Vulnerabilities Web Security Cyber Insurance Factor Analysis of Information Risk Maersk NotPetya

Podcast Episode 117: Insurance Industry Confronts Silent Cyber Risk, Converged Threats

The Security Ledger

In this episode of the podcast (#117), we go deep on one of the hottest sectors around: cyber insurance. In this episode of the podcast (#117), we go deep on one of the hottest sectors around: cyber insurance. The insurance was dirt cheap. Are insurers ready?

Risk 52

Data of 75,000 at risk after breach of federal insurance exchanges

Information Management Resources

The Centers for Medicare and Medicaid Services is reporting unauthorized access to consumer data in systems that support federal insurance exchanges. Data breaches Cyber security Data security Federal health insurance exchanges

Spurring Growth Initiatives Through Tax Reform in Insurance

Perficient Data & Analytics

has created a jubilant atmosphere, as the rates are generally expected to boost earnings and investments for many insurers. — To learn what else is driving growth, productivity, and efficiency, download our new guide: 2018 State of the Insurance Industry. Recent months have seen many discussions and questions about tax reform and its impact on the industry as a whole. The introduction of lower corporate tax rates in the U.S.

Attracting and Cultivating Customers in the Insurance Industry

Perficient Data & Analytics

In a digital and mobile era, insurance companies must cater to customers’ demands and expectations by providing fast and frequent communication, access to more digestible and transparent information, and, of course, convenience. — To learn what else is driving growth, productivity, and efficiency, download our new guide: 2018 State of the Insurance Industry.

Insurers must think strategically about AI

Information Management Resources

While most executives expect AI to have a transformative impact on economic growth and competitiveness, executives may need to temper near-term expectations. Artificial intelligence Machine learning Data strategy

Insurance data is a value-add in healthcare M&A frenzy

Information Management Resources

Retailers mull acquisition of health insurers, with their information assets and analytics prowess as potential prizes. Insurance M&A Integrations Pharmacy benefit management Retail industry Patient engagement

How Travelers is reinventing homeowners' insurance with data

Information Management Resources

The carrier is incorporating more third-party and sensor data into its new home coverage products, says SVP of personal insurance. Claims Connected home Homeowners insurance Customer data Customer experience Digital distribution Sensor data Vendor management Travelers

How life insurers can kick-start digitalization efforts

Information Management Resources

Digital currencies Customer-centricity Customer experience Customer data Customer service Life insurance JD PowerCarriers in the business need to keep up with rapidly advancing customer expectations.

How insurers can get the most out of digital transformation

Information Management Resources

Insurance technology C-suite Customer-centricity Underwriting Predictive analytics Big data Claims McKinsey & CompanyBusiness-wide transformation begins with a thorough diagnostic of competitive strengths and challenges that enables leaders to prioritize where they want to start.

[FastCompany] AI Battles Insurance Fraud

Hanzo Learning Center

Hanzo was featured in FastCompany, discussing AI in the war on Insurance Fraud. Click below for the full article. News Investigations

Westfield Insurance offers new BI tool to small businesses

Information Management Resources

Commercial insurer partners with insurtech SizeUp, helping entrepreneurs maximize profits. Business intelligence Small business Big data Customer data People analytics Vendor management Insurtech Westfield Insurance Plug and Play

South Carolina Becomes the First State to Enact the National Association of Insurance Commissioners (NAIC) Insurance Data Security Model Law

Data Matters

In October 2017, the National Association of Insurance Commissioners (NAIC) adopted an Insurance Data Security Model Law. On May 3, 2018, South Carolina became the first state to enact this Model Law, in the form of the South Carolina Insurance Data Security Act (H.B. By doing so, South Carolina joined Connecticut and New York as states with cybersecurity regulations for insurance companies.

The data age of insurance is here: USAA analytics leader

Information Management Resources

Customer-centricity Customer experience Internet of things Augmented reality Virtual assistants Claims Usage-based insurance Smartphones Connected home USAACarriers must compete on insights from consumer information, not just the convenience of digital-app services.

Project spotlight: Freeing up space at Banner Life Insurance Company

TAB OnRecord

The post Project spotlight: Freeing up space at Banner Life Insurance Company appeared first on TAB Records Management Blog | TAB OnRecord. If you could use your space to help generate revenue instead of storing files, would you? Of course you would.

Digital Preservation -- High Stakes for Finance and Insurance Companies

AIIM

In a recent AIIM survey, 85% of finance and insurance executives said that digital preservation was “important” or “very important” to their organizations – even higher than the 77% reported in other industries. Why is it particularly important in finance and insurance? digital preservation finance Banking insurance