Daymark

AUGUST 15, 2023

A CISO Primer on Navigating Cyber Insurance After 10+ years of working with clients to negotiate and place cyber insurance, I’ve noticed that one of the most frequent challenges has always been getting the underwriters and my client’s information security stakeholder (like a CISO or CIO) to understand each other.

Insurance 52

Insurance Information Security Communications Security 52

IBM Big Data Hub

MAY 1, 2023

In this first of two posts, I investigate the anatomy of artificial intelligence and its impact on insurance. Artificial intelligence applied to insurance The insurance industry has always made extensive use of data and algorithms, such as in the calculation of insurance premiums.

Artificial Intelligence 75

Artificial Intelligence Insurance Risk Personal data 75

Data Matters

SEPTEMBER 7, 2023

The National Association of Insurance Commissioners (NAIC) held its Summer 2023 National Meeting (Summer Meeting) from August 12–16, 2023. The post Regulatory Update: National Association of Insurance Commissioners Summer 2023 National Meeting appeared first on Data Matters Privacy Blog.

Insurance 87

Insurance Artificial Intelligence Privacy Security 87

IBM Big Data Hub

MARCH 25, 2024

According to Berenberg analysts , individual insurance companies faced total claims estimates of up to approximately USD 300 million. For other financial services firms outside of the insurance sector, property accepted as loan security might face climate-related risks as well.

Financial Services 85

Financial Services Insurance Risk Agriculture 85

DXC Technology

SEPTEMBER 16, 2020

The insurance industry is in the midst of a brutal stress test, due to the current environment. Some insurance products may become uneconomical. And many insurers will come under pressure to reduce their spending. Given this fast-changing business environment, insurers need […].

Insurance 125

Insurance 125

The Last Watchdog

JANUARY 20, 2020

To help mitigate the risk of financial losses, more companies are turning to cyber insurance. Related: Bots attack business logic Cyber insurance, like other forms of business insurance, is a way for companies to transfer some of numerous potential liability hits associated specifically with IT infrastructure and IT activities.

Insurance 222

Insurance Data breaches Cybersecurity Risk 222

Security Affairs

APRIL 22, 2022

When security fails, cyber insurance can become crucial for ensuring continuity. Our reliance on digital technology and the inherited risk is a key driving factor for buying cyber risk insurance. If the technology were to become unavailable, the resulting business impact could be mitigated with cyber insurance.

Insurance 100

Insurance Risk Cybersecurity Ransomware 100

IT Governance

OCTOBER 15, 2020

That’s why they organisations increasingly relying on cyber insurance policies to cover the costs when data breaches and cyber attacks occur. But just how helpful is cyber insurance? We take at a look at everything you need to know in this blog. What is cyber insurance? How does cyber insurance work?

Insurance 119

Insurance Data breaches Risk Security 119

The Last Watchdog

AUGUST 24, 2020

Purchasing life insurance once meant going to an insurer’s office or booking an appointment with an insurance agent. Today’s generation is used to getting everything done fast and easy, so life insurance providers had to get with the times and cover all customers’ needs and requirements.

Insurance 190

Insurance IT Security Access 190

Data Matters

OCTOBER 20, 2022

Treasury Department is seeking public comment on the need and scope for a potential federal insurance response to catastrophic cyber incidents, akin to the one put in place for terrorism insurance after the attacks of September 11, 2001. The request, published by the Federal Insurance Office (FIO) in the U.S. Background.

Insurance 87

Insurance Marketing Cybersecurity Risk 87

IBM Big Data Hub

MAY 8, 2023

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. As AI technologies continues to mature and use cases expand, insurers should not shy from the technology.

Insurance 68

Insurance Risk Artificial Intelligence Government 68

Data Matters

APRIL 19, 2023

The National Association of Insurance Commissioners (NAIC) held its Spring 2023 National Meeting (Spring Meeting) March 21–25, 2023. The post Regulatory Update: National Association of Insurance Commissioners Spring 2023 National Meeting appeared first on Data Matters Privacy Blog.

Insurance 87

Insurance Privacy Security IT 87

OpenText Information Management

MARCH 8, 2023

As the frequency and scope of cyberattacks increases, so does the cost of cyber insurance. And the rise is dramatic.

Insurance 72

Insurance Compliance Security 72

Data Matters

FEBRUARY 2, 2021

The National Association of Insurance Commissioners’ (NAIC) Insurance Data Security Model Law has been adopted in at least 11 states, with several others (including New York) having implemented either older or similar laws or administrative guidance. appeared first on Data Matters Privacy Blog.

Insurance 113

Insurance Security Compliance Privacy 113

IT Governance

JULY 30, 2024

According to Parametrix , an insurance company specialising in Cloud outages, cyber insurance policies likely cover up to 10–20% of losses only. Then there’s insurance. The post CrowdStrike: Lessons on the Importance of Contracts, Insurance and Business Continuity appeared first on IT Governance UK Blog.

Insurance 100

Insurance Risk Encryption Manufacturing 100

Data Matters

OCTOBER 20, 2022

Treasury Department is seeking public comment on the need and scope for a potential federal insurance response to catastrophic cyber incidents, akin to the one put in place for terrorism insurance after the attacks of September 11, 2001. The post U.S.

Insurance 78

Insurance Privacy Data breaches Cybersecurity 78

DXC Technology

JULY 18, 2021

Many insurance companies are suffering from the negative effects of historically low interest rates in a low-growth business environment. A recent Computer Economics report shows the urgency for insurers […]. A recent Computer Economics report shows the urgency for insurers […].

Insurance 59

Insurance Cloud IT 59

Krebs on Security

OCTOBER 30, 2024

“Affected insurance providers can contact us to prevent leaking of their own data and [remove it] from the sale,” RansomHub’s victim shaming blog announced on April 16. A few days after BlackCat imploded, the same stolen healthcare data was offered for sale by a competing ransomware affiliate group called RansomHub.

Insurance 266

Insurance Ransomware Data breaches Computer and Electronics 266

OpenText Information Management

APRIL 22, 2019

Research has consistently shown that senior management within the insurance sector think digital transformation is critical to their business. Digital … The post Achieving digital transformation in the insurance industry appeared first on OpenText Blogs.

Digital transformation 93

Digital transformation Insurance Financial Services Customer Experience 93

DXC Technology

JULY 18, 2021

by Jeff Williams Many insurance companies are suffering from the negative effects of historically low interest rates in a low-growth business environment. The post 3 ways to modernize legacy insurance systems appeared first on DXC Blogs. A recent Computer Economics report shows the […].

Insurance 59

Insurance Cloud IT 59

IBM Big Data Hub

DECEMBER 4, 2023

IBM can help insurance companies insert generative AI into their business processes IBM is one of a few companies globally that can bring together the range of capabilities needed to completely transform the way insurance is marketed, sold, underwritten, serviced and paid for.

Insurance 53

Insurance Digital transformation Compliance Cloud 53

IT Governance

AUGUST 25, 2022

Lloyd’s of London has announced that its insurance policies will no longer cover losses resulting from certain nation-state cyber attacks or acts of war. In a memo sent to the organisation’s insurance syndicates , Underwriting Director Tony Chaudhry said that Lloyd’s remains “strongly supportive” of policies that cover cyber attacks.

Insurance 100

Insurance IT Government Risk 100

OpenText Information Management

MAY 17, 2021

In an industry generally known for slow adoption of technology, one insurance business discovered that the COVID-19 pandemic provided the catalyst it needed to prioritize digital transformation.

Insurance 69

Insurance Digital transformation Communications Customer Experience 69

DXC Technology

JULY 11, 2021

Many insurance companies are suffering from the negative effects of historically low interest rates in a low-growth business environment. A recent Computer Economics report shows the urgency for insurers […]. A recent Computer Economics report shows the urgency for insurers […].

Insurance 52

Insurance Cloud IT 52

CGI

JULY 3, 2020

Helping insurers monitor horticulture assets from space to reduce risks and ensure business continuity. This CGI blog post discusses monitoring horticulture assets from space to help insurers reduce risks and ensure business continuity. Fri, 07/03/2020 - 02:22.

Insurance 98

Insurance Risk 98

IBM Big Data Hub

JUNE 23, 2023

Although interest rates have increased at an unprecedented rate over the past year due to efforts by central banks to curb inflation, insurers are locked into low-yielding investments, and it will take several years for their investment yields to improve. Core modernization (processes and technology) is a top priority for every insurer.

Insurance 56

Insurance Cloud Digital transformation Customer Experience 56

DXC Technology

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 67

Insurance Education Marketing 67

Collibra

APRIL 9, 2021

Recapping a discussion moderated by Stijn Christiaens and featuring insurance data experts from Deloitte UK . Insurance is a data-intensive business. Insurance companies need data to better assess risks and price policies competitively, but also profitably. Drivers for cloud adoption. Mobilizing data governance programs.

Insurance 59

Insurance Cloud Data science Analytics 59

Rocket Software

MARCH 14, 2022

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. Digital Transformation is More Than Scanning Paper Documents.

Financial Services 82

Financial Services Insurance Digital transformation Paper 82

DXC Technology

JULY 14, 2020

That’s certainly true when it comes to insurance, as evidenced by the findings of our recent consumer survey. Based on responses from more than 2,000 individuals in the United States, the 2020 DXC Insurance Survey Report presents […].

Insurance 63

Insurance Digital transformation IT 63

OpenText Information Management

NOVEMBER 12, 2024

Insurance customers expect more: instantly, seamlessly, and exactly the way they want it. The stakes are high, as insurance customers typically only interact with their carriers once or twice a year—a stark contrast to the frequent interactions seen in banking. It’s a reality that goes straight to the bottom line. Salesforce.

Communications 52

Communications Insurance Archiving Marketing 52

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. According to NYDFS, the incorporation of these practices should be proportionate to each insurer’s size, resources, geographic distribution, and other factors. The Framework.

Insurance 78

Insurance Financial Services Cybersecurity Risk 78

Rocket Software

JUNE 16, 2022

In today’s digital world, the ability to reduce the risk of fraud is key for any industry, but especially so for health insurance providers and healthcare organizations. The post Mainframe automation and AI to detect risk of fraud in healthcare insurance: 4 key considerations appeared first on The Rocket Software Blog.

Insurance 84

Insurance Risk Digital transformation Marketing 84

Data Matters

JANUARY 14, 2019

On December 19, 2018, Ohio adopted the National Association of Insurance Commissioners’ (NAIC) Insurance Data Security Model Law. The Act is designed to “establish standards for data security and for the investigation and notification to the Superintendent of Insurance of a cybersecurity event.”.

Insurance 67

Insurance Security Cybersecurity Data breaches 67

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. sought coverage for expenses under its property insurance policy.

Insurance 70

Insurance Cybersecurity Risk Education 70

Data Matters

FEBRUARY 11, 2019

On December 28, 2018, Michigan adopted the National Association of Insurance Commissioners’ (NAIC) Insurance Data Security Model Law in the form of Michigan H.B. The Act defines licensees as persons authorized, registered, or licensed under Michigan insurance laws or required to be so. 6491 (Act). MCL § 500.550.

Insurance 67

Insurance Security Cybersecurity FOIA 67

OpenText Information Management

NOVEMBER 13, 2017

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.

Insurance 64

Insurance Risk IT 64