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ERP, marketing, sales) that customers and stakeholders don’t necessarily interact with, but that help a company operate smoothly and be more productive. — 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. MORE
On November 4, 2013, the China Insurance Regulatory Commission, which is the Chinese regulatory and administrative authority for the insurance sector, issued the Interim Measures for the Management of the Authenticity of Information of Life Insurance Customers (the “Measures”). The Measures require life insurance companies and their agents to ensure the authenticity of personal data of life insurance policy holders. MORE
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. MORE
Digital marketers in the automotive industry need to take advantage of the uniqueness of the industry. Unlike other industries, it provides unique opportunities for automotive digital marketers. For instance, because all sales are reported, marketers have the ability to match online shopping behavior with offline in-person vehicle sales. However, they are proof that those ad placements didn’t reach actual in-market consumers. MORE
Max Jaiswal is the enterprise data team lead at AIA Australia , a pan-Asian life insurance company with presence in 18 markets across the Asia-Pacific region. MORE
has created a jubilant atmosphere, as the rates are generally expected to boost earnings and investments for many insurers. We are investing in growth in many of our market-facing businesses through marketing, distribution, telematics, new products, and technology.”. — To learn what else is driving growth, productivity, and efficiency, download our new guide: 2018 State of the Insurance Industry. MORE
GAO Report Summarizes Market Trends The increasing number of cyberthreats, especially ransomware attacks, is leading some cyber insurers to raise premiums and limit some coverage in hard-hit sectors, such as healthcare and education, according to a report from the Government Accountability Office MORE
A 30-year old Russian national was sentenced to nine years in prison for running Cardplanet and Direct Connection credit card market. The membership also requested a sum of money, normally $5,000, as insurance. MORE
On April 30, 2020, the French Data Protection Authority (the “CNIL”) published guidance on the extraction of web users’ personal data from online public spaces by web scraping tools and re-use of such data for direct marketing (the “Guidance”). MORE
The use of artificial intelligence (AI) technologies has spread across the insurance value chain. In product development, it enables insurers to create more profitable and effective products based on insights from past claims and product uptake in the market. In underwriting, it creates a better understanding of risk for new and underserved markets. Insurance Uncategorized artificial intelligence MORE
For the insurance sector, this has brought forth both new market opportunities and new market confusion. The insurance sector has leveraged digital for new ways of working, and that has proven to be especially valuable in light of […]. Insurance digital insurance MORE
Millions of records containing personal information and medical insurance data were exposed by a database belonging to insurance marketing website MedicareSupplement.com. Breach Vulnerabilities cloud data exposure database medicaresupplement.com mongodb database MORE
The guide reviews the insurability of GDPR fines across Europe, which can reach up to €20 million or, if higher, up to 4% of a group’s annual global turnover. It also looks at insurability of costs associated with GDPR non-compliance (e.g. litigation, investigation and compensation), as well as the insurability of non-GDPR regulatory fines. Criminal penalties are almost never insurable. General Data Protection Regulation Uncategorized Insurance MORE
One of the major challenges for CISOs is on deciding the indemnity limit for cyber insurance, says Bhishma Maheshwari, executive vice president at Marsh India MORE
2 announcing a Cyber Insurance Risk Framework (the Framework) that describes industry best practices for New York-regulated property/casualty insurers. While acknowledging that “[e]ach insurer’s cyber insurance risk will vary based [on] many factors,” the Framework nonetheless describes seven practices that authorized property/casualty insurers should use to manage their cyber insurance risk. Manage and Eliminate Exposure to Silent Cyber Insurance Risk. MORE
Banking & Capital Markets Cloud Insurance financial services hybrid cloudLos entornos multinube (formados por varias nubes, públicas y privadas, que se utilizan normalmente para diferentes propósitos) pueden considerarse como la opción preferida de los bancos. Eso se desprende del último informe realizado por 451 Research, “Multi-Cloud Fundamental to Financial Services Transformation” y yo no lo pienso discutir. MORE
Recent media attention focused on the security breach that affected millions of Target customers has increased interest in cyber insurance to cover the financial losses associated with these types of events. As insurers aggressively market insurance products to protect against cyber risks, it’s important to note differences in the language carriers have chosen to include in their policy forms. Cyber Insurance Cybersecurity Security Breach MORE
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. MORE
the leading analyst firm covering the Capture Software market, reported that analysis of its annual Worldwide Market Survey showed that the Market for Capture Software experienced double-digit growth. . In 2017, the worldwide market grew by 11.3% Case Management applications are in demand in top vertical markets including: Retail Banking, Insurance, and Healthcare. The dynamics of the Capture Software market also are changing providing new opportunity. MORE
The personal information of thousands of Israeli citizens has been compromised as the result of a cyberattack on Shirbit, a leading insurance company. . The post Major Israeli Insurance Company Hacked appeared first on Adam Levin. MORE
Time for a new definition of the "composite" insurer? Composite insurer table. Much has been written about the need for insurers to embrace the opportunities that the wave of technology innovation has made possible over the past few years and to address the accompanying globalisation of ideas and propositions that make local markets increasingly less distinctive. So could this operating model become the new definition of a ‘composite insurer’? MORE
Good paper on cybersecurity insurance: both the history and the promise for the future. From the conclusion: Policy makers have long held high hopes for cyber insurance as a tool for improving security. Cyber insurance appears to be a weak form of governance at present. However, the cost of external response services is covered, which suggests insurers believe ex-post responses to be more effective than ex-ante mitigation. MORE
There’s no shortage of tech solutions coming to market in the insurtech era, but it all comes back to customer wants, panel says. Insurtech Customer experience Customer data Digital distribution Data strategy Farmers Insurance AmFam MORE
Leaders will master information flows and data markets. Analytics Applications Asia Australia and New Zealand Automotive Banking & Capital Markets Business Processes Cloud Consulting DevOps Digital Transformation Energy Healthcare Insurance IoT Leadership and Success Manufacturing Mobility Partners Platform Security Travel, Transportation & Hospitality Workplace Awards digital digital transformation recognition transformationBusiness is changing fast. MORE
Banking & Capital Markets Cloud Insurance financial services hybrid cloudMulti-clouds — environments made up of multiple public and private clouds typically used for different purposes — may well be the cloud of choice for banks. That’s according to an independent report by 451 Research, ‘Multi-Cloud Fundamental to Financial Services Transformation.’ I’m not here to argue. This report, which was sponsored by Canonical — the […]. MORE
One thing that can mitigate this risk is cyber insurance. Benefits of Cyber Insurance. A cyber insurance policy is a great line of defense that can minimize or defray the costs associated with negative IT-related security events, such as: Incident response activities. MORE
To compete and succeed in today’s fast-changing business climate, banks, insurance companies and other financial services institutions (FSIs) need to have three priorities to contend with new technologies, new market entrants and new ways of working that are changing expectations for the industry. Enterprise World Industry Bank banks Enterprise World 2019 financial services Insurance insurance industry MORE
Instead, the insurance market, an industry worth $1.2 TN, has morphed into a tech-fest where insurers spent. Application Modernization and Connectivity Disruptive technologies Enterprise Applications Host Connectivity Insurance Mainframe Modernization Terminal EmulationTake cover! A new front has opened up on the digital battleground where enterprise technology is matched against the demand for customer innovation. MORE
In this Q&A, IBM financial services solution architect Irina Saburova discusses an insurance use case with IBM Data Science Marketing Lead Rosie Pongracz. In this scenario common to the insurance industry, an organization needs to adjust its operations based on upcoming weather event and multiple weather indicators can improve forecast accuracy MORE
Today, insurance companies remain heavily focused on growth, productivity, and efficiency. How can they get a bigger piece of the pie in a market that offers customers so many options? 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. MORE
Conventional marketing wisdom dictates that acquisition is where you focus all your efforts. Customer Experience Banking & Insurance Personalization Omnichannel customer journey digital experience retail banking martech MORE
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. 2 (2021) regarding “Cyber Insurance Risk Framework” (the “Guidelines”), calling on insurers to take more stringent measures in underwriting cyber risks. sought coverage for expenses under its property insurance policy. MORE
President Obama’s Executive Order 13636 on Improving Critical Infrastructure Cybersecurity identified “insurance liability considerations” as an incentive that might improve security. Over the course of the year since the Executive Order was issued, there has been an increase in the marketing of cyber insurance products. Cyber Insurance Cybersecurity Liability Obama Administration MORE
Digital Insurance takes a look at the auto insurance carriers with the biggest U.S. market presence and their recent technological initiatives. Auto insurance Insurtech State Farm Allstate Nationwide Progressive Liberty Mutual Farmers Insurance GEICO Travelers MORE
Here’s one more contribution to that issue: a research paper that the insurance industry is hurting more than it’s helping. Although it is a societal problem, cyber insurers have received considerable criticism for facilitating ransom payments to cybercriminals. MORE
We talk to Bruce McDonnell of the East West Institute about how insurers are responding. Related Stories Episode 155: Disinformation is a Cyber Weapon and APTs warm to Mobile Malware Podcast Episode 117: Insurance Industry Confronts Silent Cyber Risk, Converged Threats NotPetya Horror Story Highlights Need for Holistic Security. We talk to Bruce McConnell of the East West Institute about how insurers are responding. MORE
It’s especially unusual for a previously unknown market player. Further research revealed that the post was nothing but a very bold ad to scale up the user base of newly established card shop All World Cards, which joined the carding market in May 2021. MORE
Few industries stand to gain as much by adopting artificial intelligence as insurance. Insurance companies rarely relate to their customers other than at the time of the claim, so making that experience as simple and productive as possible is key to customer retention. Fraud is a major problem for insurers, accounting for 10% of all claims expenditures in some regions. Other insurers are experimenting with discounts tied to the use of fitness trackers and heart monitors. MORE
Carriers are looking to expand their addressable market for risk management services, and innovative solutions are key. Internet of things Analytics AXA MORE
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. MORE
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. Rating is about determining the cost of an insurance policy based on the underlying risk. MORE
Data Breach Today
MAY 24, 2021
GAO Report Summarizes Market Trends The increasing number of cyberthreats, especially ransomware attacks, is leading some cyber insurers to raise premiums and limit some coverage in hard-hit sectors, such as healthcare and education, according to a report from the Government Accountability Office
Schneier on Security
JULY 1, 2021
Here’s one more contribution to that issue: a research paper that the insurance industry is hurting more than it’s helping. Although it is a societal problem, cyber insurers have received considerable criticism for facilitating ransom payments to cybercriminals.
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Data Breach Today
JANUARY 5, 2020
One of the major challenges for CISOs is on deciding the indemnity limit for cyber insurance, says Bhishma Maheshwari, executive vice president at Marsh India
DXC
AUGUST 10, 2020
For the insurance sector, this has brought forth both new market opportunities and new market confusion. The insurance sector has leveraged digital for new ways of working, and that has proven to be especially valuable in light of […]. Insurance digital insurance
Schneier on Security
SEPTEMBER 10, 2019
Good paper on cybersecurity insurance: both the history and the promise for the future. From the conclusion: Policy makers have long held high hopes for cyber insurance as a tool for improving security. Cyber insurance appears to be a weak form of governance at present. However, the cost of external response services is covered, which suggests insurers believe ex-post responses to be more effective than ex-ante mitigation.
Adam Levin
DECEMBER 8, 2020
The personal information of thousands of Israeli citizens has been compromised as the result of a cyberattack on Shirbit, a leading insurance company. . The post Major Israeli Insurance Company Hacked appeared first on Adam Levin.
Security Affairs
AUGUST 8, 2021
It’s especially unusual for a previously unknown market player. Further research revealed that the post was nothing but a very bold ad to scale up the user base of newly established card shop All World Cards, which joined the carding market in May 2021.
Perficient Data & Analytics
MAY 22, 2018
ERP, marketing, sales) that customers and stakeholders don’t necessarily interact with, but that help a company operate smoothly and be more productive. — 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.
InfoGoTo
SEPTEMBER 16, 2020
One thing that can mitigate this risk is cyber insurance. Benefits of Cyber Insurance. A cyber insurance policy is a great line of defense that can minimize or defray the costs associated with negative IT-related security events, such as: Incident response activities.
Data Matters
FEBRUARY 10, 2021
2 announcing a Cyber Insurance Risk Framework (the Framework) that describes industry best practices for New York-regulated property/casualty insurers. While acknowledging that “[e]ach insurer’s cyber insurance risk will vary based [on] many factors,” the Framework nonetheless describes seven practices that authorized property/casualty insurers should use to manage their cyber insurance risk. Manage and Eliminate Exposure to Silent Cyber Insurance Risk.
Perficient Data & Analytics
MAY 8, 2018
Today, insurance companies remain heavily focused on growth, productivity, and efficiency. How can they get a bigger piece of the pie in a market that offers customers so many options? 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.
|
IBM Big Data Hub
JUNE 24, 2020
Max Jaiswal is the enterprise data team lead at AIA Australia , a pan-Asian life insurance company with presence in 18 markets across the Asia-Pacific region.
Perficient Data & Analytics
MAY 1, 2018
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.
InfoGoTo
DECEMBER 7, 2018
Few industries stand to gain as much by adopting artificial intelligence as insurance. Insurance companies rarely relate to their customers other than at the time of the claim, so making that experience as simple and productive as possible is key to customer retention. Fraud is a major problem for insurers, accounting for 10% of all claims expenditures in some regions. Other insurers are experimenting with discounts tied to the use of fitness trackers and heart monitors.
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. 2 (2021) regarding “Cyber Insurance Risk Framework” (the “Guidelines”), calling on insurers to take more stringent measures in underwriting cyber risks. sought coverage for expenses under its property insurance policy.
Perficient Data & Analytics
JUNE 12, 2018
has created a jubilant atmosphere, as the rates are generally expected to boost earnings and investments for many insurers. We are investing in growth in many of our market-facing businesses through marketing, distribution, telematics, new products, and technology.”. — To learn what else is driving growth, productivity, and efficiency, download our new guide: 2018 State of the Insurance Industry.
IBM Big Data Hub
JUNE 26, 2018
In this Q&A, IBM financial services solution architect Irina Saburova discusses an insurance use case with IBM Data Science Marketing Lead Rosie Pongracz. In this scenario common to the insurance industry, an organization needs to adjust its operations based on upcoming weather event and multiple weather indicators can improve forecast accuracy
Threatpost
JUNE 28, 2019
Millions of records containing personal information and medical insurance data were exposed by a database belonging to insurance marketing website MedicareSupplement.com. Breach Vulnerabilities cloud data exposure database medicaresupplement.com mongodb database
Security Affairs
NOVEMBER 6, 2018
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.
Information Management Resources
MARCH 20, 2018
Digital Insurance takes a look at the auto insurance carriers with the biggest U.S. market presence and their recent technological initiatives. Auto insurance Insurtech State Farm Allstate Nationwide Progressive Liberty Mutual Farmers Insurance GEICO Travelers
The Security Ledger
AUGUST 20, 2019
We talk to Bruce McDonnell of the East West Institute about how insurers are responding. Related Stories Episode 155: Disinformation is a Cyber Weapon and APTs warm to Mobile Malware Podcast Episode 117: Insurance Industry Confronts Silent Cyber Risk, Converged Threats NotPetya Horror Story Highlights Need for Holistic Security. We talk to Bruce McConnell of the East West Institute about how insurers are responding.
Security Affairs
JUNE 27, 2020
A 30-year old Russian national was sentenced to nine years in prison for running Cardplanet and Direct Connection credit card market. The membership also requested a sum of money, normally $5,000, as insurance.
Hunton Privacy
MAY 4, 2020
On April 30, 2020, the French Data Protection Authority (the “CNIL”) published guidance on the extraction of web users’ personal data from online public spaces by web scraping tools and re-use of such data for direct marketing (the “Guidance”).
DLA Piper Privacy Matters
MAY 17, 2018
The guide reviews the insurability of GDPR fines across Europe, which can reach up to €20 million or, if higher, up to 4% of a group’s annual global turnover. It also looks at insurability of costs associated with GDPR non-compliance (e.g. litigation, investigation and compensation), as well as the insurability of non-GDPR regulatory fines. Criminal penalties are almost never insurable. General Data Protection Regulation Uncategorized Insurance
DXC
MARCH 15, 2019
Banking & Capital Markets Cloud Insurance financial services hybrid cloudMulti-clouds — environments made up of multiple public and private clouds typically used for different purposes — may well be the cloud of choice for banks. That’s according to an independent report by 451 Research, ‘Multi-Cloud Fundamental to Financial Services Transformation.’ I’m not here to argue. This report, which was sponsored by Canonical — the […].
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.
Hunton Privacy
NOVEMBER 20, 2013
On November 4, 2013, the China Insurance Regulatory Commission, which is the Chinese regulatory and administrative authority for the insurance sector, issued the Interim Measures for the Management of the Authenticity of Information of Life Insurance Customers (the “Measures”). The Measures require life insurance companies and their agents to ensure the authenticity of personal data of life insurance policy holders.
Information Management Resources
MARCH 29, 2018
There’s no shortage of tech solutions coming to market in the insurtech era, but it all comes back to customer wants, panel says. Insurtech Customer experience Customer data Digital distribution Data strategy Farmers Insurance AmFam
Document Imaging Report
SEPTEMBER 18, 2018
the leading analyst firm covering the Capture Software market, reported that analysis of its annual Worldwide Market Survey showed that the Market for Capture Software experienced double-digit growth. . In 2017, the worldwide market grew by 11.3% Case Management applications are in demand in top vertical markets including: Retail Banking, Insurance, and Healthcare. The dynamics of the Capture Software market also are changing providing new opportunity.
DXC
MAY 14, 2019
Banking & Capital Markets Cloud Insurance financial services hybrid cloudLos entornos multinube (formados por varias nubes, públicas y privadas, que se utilizan normalmente para diferentes propósitos) pueden considerarse como la opción preferida de los bancos. Eso se desprende del último informe realizado por 451 Research, “Multi-Cloud Fundamental to Financial Services Transformation” y yo no lo pienso discutir.
Hunton Privacy
MARCH 21, 2014
President Obama’s Executive Order 13636 on Improving Critical Infrastructure Cybersecurity identified “insurance liability considerations” as an incentive that might improve security. Over the course of the year since the Executive Order was issued, there has been an increase in the marketing of cyber insurance products. Cyber Insurance Cybersecurity Liability Obama Administration
OpenText Information Management
AUGUST 23, 2021
Conventional marketing wisdom dictates that acquisition is where you focus all your efforts. Customer Experience Banking & Insurance Personalization Omnichannel customer journey digital experience retail banking martech
DXC
MARCH 18, 2019
Leaders will master information flows and data markets. Analytics Applications Asia Australia and New Zealand Automotive Banking & Capital Markets Business Processes Cloud Consulting DevOps Digital Transformation Energy Healthcare Insurance IoT Leadership and Success Manufacturing Mobility Partners Platform Security Travel, Transportation & Hospitality Workplace Awards digital digital transformation recognition transformationBusiness is changing fast.
Perficient
AUGUST 22, 2019
Digital marketers in the automotive industry need to take advantage of the uniqueness of the industry. Unlike other industries, it provides unique opportunities for automotive digital marketers. For instance, because all sales are reported, marketers have the ability to match online shopping behavior with offline in-person vehicle sales. However, they are proof that those ad placements didn’t reach actual in-market consumers.
OpenText Information Management
MAY 1, 2019
To compete and succeed in today’s fast-changing business climate, banks, insurance companies and other financial services institutions (FSIs) need to have three priorities to contend with new technologies, new market entrants and new ways of working that are changing expectations for the industry. Enterprise World Industry Bank banks Enterprise World 2019 financial services Insurance insurance industry
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. Rating is about determining the cost of an insurance policy based on the underlying risk.
Information Management Resources
JANUARY 26, 2018
Carriers are looking to expand their addressable market for risk management services, and innovative solutions are key. Internet of things Analytics AXA
Hunton Privacy
JANUARY 31, 2014
Recent media attention focused on the security breach that affected millions of Target customers has increased interest in cyber insurance to cover the financial losses associated with these types of events. As insurers aggressively market insurance products to protect against cyber risks, it’s important to note differences in the language carriers have chosen to include in their policy forms. Cyber Insurance Cybersecurity Security Breach
DXC
JANUARY 9, 2020
The use of artificial intelligence (AI) technologies has spread across the insurance value chain. In product development, it enables insurers to create more profitable and effective products based on insights from past claims and product uptake in the market. In underwriting, it creates a better understanding of risk for new and underserved markets. Insurance Uncategorized artificial intelligence
CGI
APRIL 25, 2018
Time for a new definition of the "composite" insurer? Composite insurer table. Much has been written about the need for insurers to embrace the opportunities that the wave of technology innovation has made possible over the past few years and to address the accompanying globalisation of ideas and propositions that make local markets increasingly less distinctive. So could this operating model become the new definition of a ‘composite insurer’?
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