CIO Business Intelligence

JANUARY 21, 2025

CIOs feeling the pressure will likely seek more pragmatic AI applications, platform simplifications, and risk management practices that have short-term benefits while becoming force multipliers to longer-term financial returns. CIOs should consider placing these five AI bets in 2025.

Cost-Benefit 142

Cost-Benefit Data-driven Strategy Marketing 142

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.

Insurance 85

Insurance Forecasting Risk Risk Management 85

Decision Management Solutions

APRIL 23, 2019

In February, we published a blog post on “Using Technology to Add Value in Insurance”. In that post, I referenced Matt Josefowticz’s article – Technology May be the Answer for Insurers, but What Was the Question? , Insurers can also manage risk more effectively through continuous improvement.

Insurance 69

Insurance Risk Technology Management 69

CIO Business Intelligence

JANUARY 21, 2025

For example, attackers recently used AI to pose as representatives of an insurance company. As the Global CISO at Synechron, a leading global digital transformation consulting firm, Aaron Momin is accountable and responsible for cyber risk management, information security, crisis management and business continuity planning.

Behavioral Analytics 122

Behavioral Analytics Data-driven Risk Insurance 122

John Wheeler

APRIL 16, 2021

This week, we kicked-off a major research effort to explore current innovations in the rapidly expanding integrated risk management (IRM) market. This represents a great opportunity for organizations to utilize risk management technology (RiskTech) to bridge the gap between these seemingly disconnected transformation efforts.

Risk Management 59

Risk Management Risk Management Internet of Things 59

CIO Business Intelligence

APRIL 23, 2024

When it comes to structural risks you can ignore them as well, but you can’t make them go away by doing so and will be blamed if they’re “realized” (the risk-management term for “becoming real”). Rationalizing the applications portfolio reduces the odds of these risks being realized. IT Leadership, Risk Management

Risk 116

Risk IT Insurance Risk Management 116

Alation

JANUARY 9, 2023

Alation joined with Ortecha , a data management consultancy, to publish a white paper providing insights and guidance to stakeholders and decision-makers charged with implementing or modernising data risk management functions. The Increasing Focus On Data Risk Management. Download the complete white paper now.

Risk Management 52

Risk Management Risk Management Metadata 52

CIO Business Intelligence

MARCH 19, 2025

In October, Microsoft announced that 100,000 organizations including Standard Bank, Thomson Reuters, Virgin Money, and Zurich Insurance are using Copilot Studio, double the number just months earlier. And EY uses AI agents in its third-party risk management service.

Software 141

Software Risk Enterprise Cost-Benefit 141

Corinium

APRIL 25, 2019

Ahead of the Chief Data Analytics Officers & Influencers, Insurance event we caught up with Dominic Sartorio, Senior Vice President for Products & Development, Protegrity to discuss how the industry is evolving. I am head of Products here, which comprises of R&D, Product Management and Global Customer support.

Insurance 150

Insurance Risk IoT Data-driven 150

FineReport

AUGUST 13, 2021

Insurance companies provide risk management in the form of insurance contracts. Industry-specific, comprehensive, and reliable data management and presentation have become an issue of increasing concern in the insurance industry. The insurance dashboard is one of the most commonly used data display methods.

Insurance 52

Insurance Dashboards KPI Analytics 52

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 Risk Management Interactive 53

CIO Business Intelligence

SEPTEMBER 10, 2024

As a result, software supply chains and vendor risk management are becoming ever more vital (and frequent) conversations in the C-suite today, as companies seek to reduce their exposure to outages and the business continuity issues of key vendors their businesses depend on. “We We now are paying much more attention to it,” he says.

Risk Management 130

Risk Management Risk Enterprise Insurance 130

CIO Business Intelligence

MARCH 5, 2025

The banking, financial services, and insurance (BFSI) sector is facing a storm. A simple consumer action, such as transferring money from one bank to another using a mobile banking app or filing an online insurance claim, may traverse numerous systems and networks, often spanning multiple corporate entities.

Insurance 52

Insurance Digital Transformation Risk Management Publishing 52

Cloudera

FEBRUARY 15, 2024

While there are clear reasons SVB collapsed, which can be reviewed here , my purpose in this post isn’t to rehash the past but to present some of the regulatory and compliance challenges financial (and to some degree insurance) institutions face and how data plays a role in mitigating and managing risk.

Insurance 88

Insurance Data Architecture Risk Management Risk 88

Cloudera

AUGUST 12, 2021

Risk Management. A 2019 HBR article mentioned how organizational decisions backed by data have instilled more confidence and reduced risk. One of the more obvious use cases of data’s role in reducing risk is insurance policies. MetLife then reaches out to specific drivers to urge them to take precautions. .

Data-driven 111

Data-driven Manufacturing Insurance Risk Management 111

Cloudera

JULY 15, 2021

For financial institutions and insurers, risk and exposure management has always been a fundamental tenet of the business. Now, risk management has become exponentially complicated in multiple dimensions. . In this session we explored what firms are doing to approach the uncertainty with more predictability.

Risk 100

Risk Optimization Management Insurance 100

CIO Business Intelligence

AUGUST 6, 2024

The global head of cyberthreat management at a leading global property and casualty insurance company suggests: “Look across your portfolio where you’ve got that kind of auto-update automation and [ask], ‘Can they be slowed down some to keep this from being bigger than it needs to be?’

Risk Management 111

Risk Management Risk Testing Finance 111

CIO Business Intelligence

DECEMBER 7, 2022

Security tops the list According to this year’s State of the CIO survey , cybersecurity and risk management are the top investment areas for 45% of IT leader respondents. Megan Duty, VP of technology and project delivery, Puritan Life Insurance Company of America. We’re nowhere near the saturation point,” says IDC’s Minton.

IT 132

IT Insurance Cost-Benefit Risk Management 132

Octopai

JULY 9, 2020

It required banks to develop a data architecture that could support risk-management tools. Not only did the banks need to implement these risk-measurement systems (which depend on metrics arriving from distinct data dictionary tools), they also needed to produce reports documenting their use.

Insurance 98

Insurance Risk Management Machine Learning Metadata 98

DataRobot Blog

APRIL 29, 2022

The stakes in managing model risk are at an all-time high, but luckily automated machine learning provides an effective way to reduce these risks. However, after the financial crisis, financial regulators around the world stepped up to the challenge of reigning in model risk across the financial industry.

Risk 111

Risk Modeling IT Risk Management 111

Decision Management Solutions

FEBRUARY 27, 2019

Matt Josefowticz wrote a great piece recently – Technology May be the Answer for Insurers, but What Was the Question? In this he argues that there are only three levers of value in insurance: 1. Manage Risk Better (aka underwriting and adjusting). Sell More. Cost Less to Operate. Sure, when that makes sense.

Insurance 40

Insurance Technology Business Driver Predictive Analytics 40

CIO Business Intelligence

DECEMBER 27, 2023

Generative AI is starting off a new age of exploration in IT,” says Frank Schmidt, CTO at insurance firm Gen Re. AI threats Generative AI won’t only increase the productivity of financial services workers, but also give cybercriminals a powerful new tool with which to attack banks and insurance firms.

Insurance 141

Insurance Cost-Benefit Risk Technology 141

Cloudera

FEBRUARY 4, 2021

Cloudera comprehensively supports the demanding risk and compliance requirements of financial services and insurance organizations globally and it is an honor to receive this recognition. Supporting the industry’s risk data depository and data management needs. Risk management and models in a COVID-19 world.

Risk 88

Risk Marketing Technology Management 88

CIO Business Intelligence

OCTOBER 3, 2024

CIOs of many of the largest banks, financial firms, and insurance giants will likely continue to rely on big iron for the foreseeable future — especially if additional AI capabilities on the mainframe reduce their inclination to re-platform on the cloud. billion in 2015 to less than $6.5 platform running on the cloud makes sense for Ally.”

Machine Learning 140

Machine Learning Experimentation Insurance Modeling 140

AWS Big Data

FEBRUARY 1, 2024

Amazon Redshift features like streaming ingestion, Amazon Aurora zero-ETL integration , and data sharing with AWS Data Exchange enable near-real-time processing for trade reporting, risk management, and trade optimization. Apart from generating regulatory reports, these teams require visibility into the health of the reporting systems.

Data Warehouse 134

Data Warehouse Dashboards Risk Management Risk 134

CIO Business Intelligence

JUNE 22, 2022

AssuredPartners is a full-service insurance broker providing commercial insurance, risk management, and employee benefits. The company, which has more than 8,500 employees, plans to continue growing by acquisition, and consolidating the global insurance market.

IT 106

IT Insurance Cost-Benefit Risk Management 106

bridgei2i

MAY 20, 2020

Tourism and Hospitality are also largely affected, but in FS, insurance, and CPG, the impact is moderate. To give a brief introduction, he has over two decades of experience in Analytics, Big data and AI delivery across banking and financial services, commercial finance, insurance, e-commerce, retail, and supply chain.

Enterprise 98

Enterprise B2B Digital Transformation Insurance 98

CIO Business Intelligence

APRIL 28, 2022

Its success is one of many instances illustrating how the financial services industry is quickly recognizing the benefits of data analytics and what it can offer, especially in terms of risk management automation, customized experiences, and personalization. . million in insurance fraud in just 7 months. .

Analytics 98

Analytics Insurance Big Data Uncertainty 98

CIO Business Intelligence

APRIL 5, 2024

This year, lawmakers in the state are considering Senate Bill 2 , which would require organizations deploying AI for consequential “high-risk” decisions to develop risk management policies. You really can’t understand your risk posture if you don’t understand what AI tools you’re using,” she says.

Risk 132

Risk Insurance Interactive Strategy 132

CIO Business Intelligence

MAY 11, 2022

Commercial insurance is another critical risk-mitigation tool used to reduce operational risks. Organizations may acquire insurance to protect the tangible assets (e.g., BCM, enterprise risk management and internal audit must work together and apply uniform principles to their respective areas of responsibility.

Management 98

Management Insurance Testing Finance 98

CIO Business Intelligence

MARCH 12, 2024

When this happens, corporate risk is heightened as preemptive projects get delayed — sometimes for indefinite periods of time. CIOs can change this thinking by incorporating preemptive projects like disaster recovery into their corporate risk management strategies. The average cost of a data breach is $4.64

ROI 122

ROI IT Manufacturing Metrics 122

CIO Business Intelligence

JUNE 26, 2023

Machine-managed risk Risk management is a top-of-mind issue for all financial services firms. Analytics powered by machine learning (ML) lets business leaders assess risk according to a wide variety of variables, many of which are not intuitively obvious.

Data-driven 98

Data-driven Insurance Risk Risk Management 98

CIO Business Intelligence

SEPTEMBER 29, 2022

New York-based insurance provider Travelers, with 30,000 employees and 2021 revenues of about $35 billion, is in the business of risk. Managing all of its facets, of course, requires many different approaches and tools to achieve beneficial outcomes, and Mano Mannoochahr, the companyâ??s

Machine Learning 134

Machine Learning Insurance Technology Software 134

CIO Business Intelligence

MAY 9, 2022

Risk management practices such as in-person meetings for underwriting, determining creditworthiness, and signing loan documents shifted to online channels. Before the pandemic, large wealth management companies would take two to three weeks to onboard a customer. The same with applying for insurance and mortgage.

Digital Transformation 98

Digital Transformation Insurance Interactive Risk Management 98

CIO Business Intelligence

MAY 9, 2022

Whether it is individuals or businesses, financial institutions or investors, regulators or insurers, everyone in the ‘economic community’ is aware making ethical decisions is no longer just ‘wokeness’—it makes good business sense too. The pandemic has only further strengthened this realization.

Insurance 97

Insurance Risk Risk Management Enterprise 97

John Wheeler

OCTOBER 21, 2019

A common theme is the need for greater risk quantification beyond the realm of traditional, qualitative governance, risk and compliance (GRC) approaches. Digital Risk Management – Gartner. These plans help inform the decision to purchase cyber insurance and determine the amount of coverage needed.

Risk 53

Risk Risk Management Digital Transformation Insurance 53

IBM Big Data Hub

DECEMBER 8, 2023

Risk transfer: Risk transfer involves passing the risk to a third party. This strategy shifts the risk from the organization onto another party; in many cases, the risk shifts to an insurance company. An example of this is obtaining an insurance policy to cover property damage or personal injury.

Risk 67

Risk Strategy Risk Management Insurance 67