Target Sues Insurer Over 2013 Data Breach Costs

Data Breach Today

Lawsuit Claims Insurer Owes Retailer for Coverage of Card Replacement Costs Target has filed a lawsuit against its long-time insurer, ACE American Insurance Co.,

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. Companies like retailers, banks, and healthcare providers began seeking out cyberinsurance in the early 2000s, when states first passed data breach notification laws. 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.

New York Life names chief data officer for retail life

Information Management Resources

Richard White joins the insurer from the Federal Reserve Bank of N.Y. New York Life Life insurance Career moves Data management

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

Hunton Publishes Retail Year in Review

Hunton Privacy

On January 18, 2018, Hunton & Williams LLP’s retail industry lawyers, composed of more than 100 lawyers across practices, released their annual Retail Year in Review publication. The Retail Year in Review includes several articles authored by our Global Privacy and Cybersecurity lawyers, and touches on many topics of interest including blockchain, ransomware, cyber insurance and the Internet of Things.

The state of AI and information readiness in banking

OpenText Information Management

According to a new report on the global banking industry from Finextra, 45% of retail banks say they can onboard a new customer in under 40 minutes.

New York Department of Financial Services Issues Guidance Regarding Life Insurers’ Use of External Consumer Data in Underwriting

Data Matters

On January 18, 2019, the New York State Department of Financial Services (NYDFS) issued Circular Letter 2019-1 (the Circular Letter), addressing insurers’ use of external consumer data and information sources in underwriting for life insurance. In other words, insurers may not use an external data source to collect or use information that the insurer would otherwise be prohibited from collecting or using directly.

“An act of war”: Zurich American refuses to pay out on cyber insurance policy following NotPetya attack

IT Governance

US food giant Mondelez is suing insurance company Zurich American for denying a $100 million (£76 million) claim filed after the NotPetya attack. In that regard, it was a job well done, with one report estimating that insurers could expect to pay out more than $80 billion (£61 billion) as a result of the attack. However, the insurer soon changed its mind, claiming an exclusion for “hostile and warlike action in time of peace and war [by] a government or sovereign power”.

Tesco Bank Hack Illustrates Need for Robust Cyber Insurance

Hunton Privacy

As reported on the Insurance Recovery blog , earlier this week, retailer Tesco Plc’s (“Tesco”) banking branch reported that £2.5 The loss, which is about half of what Tesco initially estimated, is still substantial and serves as a strong reminder that cyber-related losses are a real threat to retailers and other industries. Cyber Insurance Cybersecurity Financial Privacy Security Breach Consumer Protection Insurance Provider United Kingdom

Webinar on the SAFETY Act, Security and Insurance

Hunton Privacy

From physical threats to cyber attacks targeting a wide range of critical infrastructure, companies in diverse sectors, such as the financial, retail, entertainment, energy, transportation, real estate, communications and other areas, face a challenging landscape of risks and potential liabilities. A SAFETY Act designation or certification complements a company’s traditional insurance policies to mitigate the potential liabilities from a cyber or physical attack.

The growing importance of dynamic pricing and rating in insurance

CGI

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. The starting point of the evening was a presentation from a pricing executive at a large European retail company who shared his company’s journey to dynamic pricing. shobana.lv@cgi.com. Fri, 11/11/2016 - 01:07.

Time for a new definition of the "composite" insurer?

CGI

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’?

New Payment Technologies Should Reduce Demand for Cyber Insurance

Hunton Privacy

Hunton & Williams Insurance Litigation & Counseling partner Lon Berk reports: As the demand for cyber insurance has skyrocketed, so too has the cost. Much of the increase in demand and cost has been the result of the widely publicized hacks of the point-of-sale systems at large retailers, and the primary emphasis of most cyber policies is to address liability arising from such events. Cyber Insurance Cybersecurity Payment Card

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Reltio Cloud – Your Key to a Successful SAP S/4HANA Migration

Reltio

Business IT B Business B Customer 360 B Digital Transformation B Financial Services & Insurance B Graph B Healthcare B High-Tech & Manufacturing B IT B Life Sciences B Machine Learning B media & entertainment B Product 360 B Retail & CPG B Supplier 360 B Travel & hospitalityGuy Vorster, Principal Solutions Consultant, Reltio. Weekends don’t get any more entertaining than a good game of rugby. And I’ll let you in on a secret, we talk business too!

Reltio Cloud – A Data Platform Perfect For Google Anthos

Reltio

Uncategorized B Compliance & GDPR B Consumer 360 B Customer 360 B Data Science B Digital Transformation B Financial Services & Insurance B Healthcare B High-Tech & Manufacturing B IT B Life Sciences B Machine Learning B Patient & Member 360 B Retail & CPGAnastasia Zamyshlyaeva , Reltio. Many enterprises are moving from dependence on a single public cloud provider to a multi-cloud architecture. The reasons for this shift are many.

MDM 63

#ModernDataMasters: Mike Evans, Chief Technology Officer

Reltio

For example, twenty or even ten years ago in food retail, focus on item cost was important, a description of the item and not much beyond that! In the food retail example, there are considerations around nutrition, allergies, availability, web feeds, different channels and much more. Kate Tickner, Reltio. Mike Evans is CTO and Founder at Comma Group and has spent more than a decade in the business analysis, MDM and data management space.

MDM 63

Is Your Customer Experience Future-Ready?

Reltio

White Paper: The Golden Path to B2C Customer 360 – What We Learned from World’s Largest Retail & Consumer Brands. Business Compliance B Business B Compliance B Compliance & GDPR B Consumer 360 B Customer 360 B Digital Transformation B Financial Services & Insurance B Graph B Machine Learning B media & entertainment B Retail & CPG B Travel & hospitalityAnkur Gupta, Sr. Product Marketing Manager, Reltio.

Why Reltio is All-in on Salesforce Customer 360, and the Adobe, Microsoft, SAP Open Data Initiative

Reltio

based healthcare insurer, one of the largest U.S.-based based pet retailers, one of the largest mortgage providers – rely on Reltio for their digital transformation and customer engagement initiatives. Uncategorized Business Compliance & GDPR Financial Services & Insurance Healthcare High-Tech & Manufacturing IT Life Sciences Media & Entertainment Retail & CPG Travel & HospitalityManish Sood, CEO & Founder, Reltio.

MDM 59

Sixth Circuit Finds Coverage for Losses Resulting from Retailer’s Data Breach

Hunton Privacy

that losses resulting from the theft of customers’ banking information from a retailer’s computer system are covered under a commercial crime policy’s computer fraud endorsement. In February 2005, a computer hacker gained access to the main computer system of shoe retailer DSW Shoe Warehouse, Inc. (“DSW”) Retail Ventures, Inc., State Law Hacker Insurance Provider Litigation Ohio

Reltio Supports Apple CEO Tim Cook’s Clarion Call for Stronger US Customer Data Privacy Laws

Reltio

Uncategorized Business Compliance & GDPR Financial Services & Insurance Healthcare High-Tech & Manufacturing Media & Entertainment Retail & CPG Travel & HospitalityManish Sood, CEO & Founder, Reltio. Apple CEO Tim Cook’s call for a U.S. privacy law , similar to GDPR (General Data Protection Regulation), is appropriate and timely.

7 Reasons Why Businesses Should Adopt A Modern MDM Platform

Reltio

A top used car retailer consolidated data from 155+ store systems in less than 15 weeks to drive omnichannel customer experience. A leading pet specialty retailer leveraged data to tackle Amazon Effect and transform into a customer-centric service company. A leading health insurer created a single view of their members across multiple systems to execute a member-centric omnichannel strategy. Ankur Gupta, Sr. Product Marketing Manager, Reltio.

MDM 53

The New Wave of Consumer Class Actions Targeting Retailers: What is the TCCWNA?

Hunton Privacy

The very acronym evokes head scratches and sighs of angst and frustration among many lawyers in the retail industry. But what is it and why has virtually every retailer been hit with a TCCWNA class action demand letter or lawsuit in the past few months? And why are most retailers scrambling to update the terms and conditions of their websites? For retailers grappling with such TCCWNA issues, there is currently a considerable amount of uncertainty. TCCWNA.

#ModernDataMasters: Martin Squires, The Analysis Foundry

Reltio

For example as a young analyst at N&P I built a model for Home and Contents Insurance in order to better understand our retention strategies. I was really excited because I was looking at the key variables and found a real link between clients closing their mortgage and closing their insurance policy. Kate Tickner, Reltio. Martin Squires is a leader with extensive experience in customer insight, marketing analytics & data science.

These 3 GDPR Requirements You Must Support Today are Nothing Compared With What’s Coming

Reltio

Compliance Business Compliance & GDPR Financial Services & Insurance GDPR Healthcare High-Tech & Manufacturing Life Sciences MDM Media & Entertainment Retail & CPG Travel & HospitalityRamon Chen, Chief Product Officer, Reltio. On May 25, 2018 GDPR (General Data Protection Regulation) went into effect.

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#ModernDataMasters: Sarit Bose, Cognizant

Reltio

Uncategorized B Compliance & GDPR B Consumer 360 B Customer 360 B Digital Transformation B Financial Services & Insurance B Healthcare B High-Tech & Manufacturing B IT B Business B Life Sciences B Machine Learning B Patient & Member 360 B Retail & CPGKate Tickner, Reltio. Sarit Bose is the Head of Business Analytics and Insights at Cognizant UK&I.

#ModernDataMasters: Michele Chambers, AWS

Reltio

Uncategorized B Compliance & GDPR B Consumer 360 B Customer 360 B Digital Transformation B Financial Services & Insurance B Healthcare B High-Tech & Manufacturing B IT B Business B Life Sciences B Machine Learning B Patient & Member 360 B Retail & CPGKate Tickner, Reltio. Michele Chambers is a Leader of Product Management and Software Development at Amazon Web Services in Seattle.

The Third Modern Data Management Summit: Making Data Work!

Reltio

Speakers represented life sciences, healthcare, manufacturing, retail, consumer goods, financial services, consulting services, and hi-tech. Business Compliance Customers IT Partners AI B Account 360 B Business B Compliance & GDPR B Consumer 360 B Customer 360 B Digital Transformation B Financial Services & Insurance B Healthcare B High-Tech & Manufacturing B IT B Life Sciences B Machine Learning B Patient & Member 360 B Retail & CPG Customer 360 DataDriven19 MDM ML

Digital Customer Experience is becoming the deciding battlefield on the insurance landscape

CGI

Digital Customer Experience is becoming the deciding battlefield on the insurance landscape. Digital Customer Experience in many ways is becoming the deciding battlefield on the insurance landscape as to who will win through. Artificial Intelligence whilst in its nascent stages in insurance has made real inroads in other sectors (especially Retail) and is well embedded in the customer journey.

#ModernDataMasters: Henrik Liliendahl, Chairman & CTO, Product Data Lake

Reltio

Uncategorized B Compliance & GDPR B Consumer 360 B Customer 360 B Digital Transformation B Financial Services & Insurance B Healthcare B High-Tech & Manufacturing B IT B Business B Life Sciences B Machine Learning B Patient & Member 360 B Retail & CPGKate Tickner, Reltio.

MDM 46

Digital Transformation in UK General Insurance: Where do MGAs fit in?

CGI

Digital Transformation in UK General Insurance: Where do MGAs fit in? A lot of attention has been drawn to the digital developments that are being undertaken by insurers in the direct marketplace, but whilst direct is an important market, transformation of the indirect channel is also deserving of more attention. According to the latest ABI data 48% of motor insurance premiums and 76% of home insurance premiums are purchased via intermediaries (excluding aggregator web sites).

What Makes a Data Genius?

Reltio

Whether it is retail, CPG, or auto industry, unlocking the value of customer data is always challenging. Rob Phillips and Christopher Bradley of CarMax are leveraging data to redefine the tailored retail experience for pre-owned vehicle buyers and sellers. Ankur Gupta, Sr. Product Marketing Manager, Reltio. Data is a precious thing and will last longer than the systems themselves.” – Tim Berners-Lee , inventor of the World Wide Web.

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#ModernDataMasters: Lewis Ownes, CEO Agile Solutions

Reltio

Uncategorized B Compliance & GDPR B Consumer 360 B Customer 360 B Digital Transformation B Financial Services & Insurance B Healthcare B High-Tech & Manufacturing B IT B Business B Life Sciences B Machine Learning B Patient & Member 360 B Retail & CPGKate Tickner, Reltio. Owen Lewis is the CEO of Agile Solutions UK a specialist data management consultancy that focuses on tangible business benefits.

Keeping Up with New Data Protection Regulations

erwin

Some industries, such as healthcare and financial services, have been subject to stringent data regulations for years: GDPR now joins the Health Insurance Portability and Accountability Act (HIPAA), the Payment Card Industry Data Security Standard (PCI DSS) and the Basel Committee on Banking Supervision (BCBS). Due to these pre-existing regulations, organizations operating within these sectors, as well as insurance, had some of the GDPR compliance bases covered in advance.

Regulatory Update: NAIC Summer 2020 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Summer 2020 National Meeting (Summer Meeting) from July 27 to August 14, 2020. The Annuity Suitability Working Group (ASWG) led the NAIC’s multi-year efforts to develop revisions to the Suitability in Annuity Transactions Model Regulation (SAT) to incorporate a requirement for producers to act in the “best interest” of a retail customer when making a recommendation of an annuity.

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Digital Enterprises: Built on Modern MDM

Reltio

Business Compliance Customers IT Partners B Business B Data Science B Digital Transformation B Financial Services & Insurance B High-Tech & Manufacturing B IT B Life Sciences B Machine Learning B Patient & Member 360 B Retail & CPG DataDriven19Ankur Gupta, Sr. Product Marketing Manager, Reltio. The third Modern Data Management annual summit (#DataDriven19) had great minds sharing their MDM success stories and assessing where MDM is headed.

MDM 40

#ModernDataMasters: Steve Whiting, Chief Operations Officer

Reltio

I worked in several Telcos and latterly in the City for an international insurance company. Uncategorized B Compliance & GDPR B Consumer 360 B Customer 360 B Digital Transformation B Financial Services & Insurance B Healthcare B High-Tech & Manufacturing B IT B Business B Life Sciences B Machine Learning B Patient & Member 360 B Retail & CPGKate Tickner, Reltio.

MDM 40

#ModernDataMasters: Bob More, SVP Global Field Operations

Reltio

Much of background is what we now call customer experience and its predecessors of CRM and eCommerce applications in Retail and CPG as well as PLM, ERP and supply chain. Uncategorized B Compliance & GDPR B Consumer 360 B Customer 360 B Digital Transformation B Financial Services & Insurance B Healthcare B High-Tech & Manufacturing B IT B Business B Life Sciences B Machine Learning B Patient & Member 360 B Retail & CPGKate Tickner, Reltio.

MDM 40

#ModernDataMasters: Tony Saldanha, President, Transformant

Reltio

In CPG and retail there is a lot of money allocated to promotions like BOGOF and discounting. Uncategorized B Compliance & GDPR B Consumer 360 B Customer 360 B Digital Transformation B Financial Services & Insurance B Healthcare B High-Tech & Manufacturing B IT B Business B Life Sciences B Machine Learning B Patient & Member 360 B Retail & CPGKate Tickner, Reltio.

#ModernDataMasters: David Balzan, Business Unit Manager MDM

Reltio

Uncategorized B Compliance & GDPR B Consumer 360 B Customer 360 B Digital Transformation B Financial Services & Insurance B Healthcare B High-Tech & Manufacturing B IT B Business B Life Sciences B Machine Learning B Patient & Member 360 B Retail & CPGKate Tickner, Reltio. David Balzan , Business Unit Manager MDM, Viqtor Davis is a driven data management professional, enthusiastic leader and technical architect.

MDM 40

Insurers’ top trends and priorities: A look at CGI’s 2017 Voice of Our Clients findings (part 1)

CGI

Insurers’ top trends and priorities: A look at CGI’s 2017 Voice of Our Clients findings (part 1). This year, we conducted in-person interviews with more than 1,300 client executives across 17 countries, including insurance business and IT executives. Insights from this year’s insurance interviews, demonstrate that the sector has made significant strides, compared to previous years, in achieving digital maturity and adapting to the pace of change.