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

Cloudera

OCTOBER 28, 2021

I’ve had the pleasure to participate in a few Commercial Lines insurance industry events recently and as a prior Commercial Lines insurer myself, I am thrilled with the progress the industry is making using data and analytics. Another historic example is crop and livestock insurance in Germany in the 1700s.

Insurance 97

Insurance Risk Unstructured Data Data-driven 97

DataRobot Blog

NOVEMBER 17, 2022

What’s your AI risk mitigation plan? Just as you wouldn’t set off on a journey without checking the roads, knowing your route, and preparing for possible delays or mishaps, you need a model risk management plan in place for your machine learning projects. Enterprise Ready AI: Managing Governance and Risk.

Risk Management 52

Risk Management Risk Modeling Management 52

Cloudera

SEPTEMBER 7, 2023

The way to manage this is by embedding data integration, data quality-monitoring, and other capabilities into the data platform itself , allowing financial firms to streamline these processes, and freeing them to focus on operationalizing AI solutions while promoting access to data, maintaining data quality, and ensuring compliance.

Insurance 82

Insurance Risk Data-driven Finance 82

Smart Data Collective

JUNE 26, 2019

The insurance industry is based on the idea of managing risk. To determine this risk, the industry must consult data and see what trends are evident to draft their risk profiles. Advanced Analytical Processes in Insurance. Insuring for the Twenty-First Century. Seeing Into the Future.

Insurance 96

Insurance Data Analytics Analytics IoT 96

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

bridgei2i

JUNE 2, 2020

Episode 7: The Impact of COVID-19 on Financial Services & Risk. Management. The Impact of COVID-19 on Financial Services & Risk Management. Listen Now Insurance is among the most-affected industries of the novel Coronavirus. PODCAST: COVID 19 | Redefining Digital Enterprises. Listening time: 12 minutes.

Risk Management 128

Risk Management Risk Enterprise Management 128

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

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 115

Risk IT Insurance Risk Management 115

CIO Business Intelligence

OCTOBER 31, 2024

In cases where the victim cannot recover funds, it’s essential to have insurance policies in place to mitigate the financial loss. Many businesses overlook the importance of cybersecurity and fraud insurance, but as BEC scams increase, having this protection is key to reducing the damage should a fraud loss occur.

Insurance 104

Insurance Testing Risk Management Consulting 104

CIO Business Intelligence

MARCH 18, 2024

The regulation requires EU financial entities and their critical ICT providers to adopt comprehensive information and communications technology (ICT) risk management capabilities into their security processes. While it’s an EU policy with ramifications for EU businesses, the impact will undoubtedly affect businesses worldwide.

Risk Management 120

Risk Management Insurance Risk Testing 120

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

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

Cloudera

MAY 30, 2024

In this context, Cloudera and TAI Solutions have partnered to help financial services customers accelerate their data-driven transformation, improve customer centricity, ensure compliance with regulations, enhance risk management, and drive innovation.

Data Analytics 80

Data Analytics Risk Management Digital Transformation Analytics 80

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

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

OCTOBER 30, 2024

Whether it’s a financial services firm looking to build a personalized virtual assistant or an insurance company in need of ML models capable of identifying potential fraud, artificial intelligence (AI) is primed to transform nearly every industry.

Enterprise 139

Enterprise Data Architecture Unstructured Data Insurance 139

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

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 99

Risk Optimization Management Insurance 99

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

IBM Big Data Hub

JANUARY 16, 2024

What generative AI has done is open a new world of innovations that can help personalize financial planning and investment management. One example of this is in insurance. Learn more about hybrid cloud for financial services Trend: Cybersecurity risk management AI brings about more challenges, especially when it comes to cyber risks.

Insurance 48

Insurance Risk Management Cost-Benefit Risk 48

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

IBM Big Data Hub

FEBRUARY 8, 2024

” European Parliament News The EU AI Act in brief The primary focus of the EU AI Act is to strengthen regulatory compliance in the areas of risk management, data protection, quality management systems, transparency, human oversight, accuracy, robustness and cyber security.

Risk Management 72

Risk Management Risk Metrics Machine Learning 72

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 Cost-Benefit 150

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

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

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

CIO Business Intelligence

OCTOBER 29, 2024

This is the primary mechanism that regulations like the General Data Protection Regulation (GDPR) and the Health Insurance Portability and Accountability Act (HIPAA) use to punish businesses for failure to uphold adequate security and data privacy standards.

Gap analysis 108

Gap analysis Insurance Risk Management Marketing 108

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

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 87

Risk Marketing Technology Management 87

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

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 127

Data Warehouse Dashboards Risk Management Risk 127

CIO Business Intelligence

OCTOBER 17, 2022

It’s designed to strengthen the security of EU financial firms, such as banks, insurance companies, investment firms and more, by imposing resilience requirements and regulating the supply chain. DORA requires EU financial institutions to assess their own cybersecurity and risk management maturity. Meeting the Challenges.

Risk Management 105

Risk Management Risk Enterprise Insurance 105

John Wheeler

OCTOBER 20, 2020

We continue our “20 for 20” theme this year by highlighting the integrated risk management (IRM) critical capabilities and top 20 software functions / features. Risk Quantification and Analytics. Beyond assessing risk from a qualitative perspective, companies in many industries (e.g.,

Risk Management 52

Risk Management Risk Insurance Predictive Modeling 52

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

NOVEMBER 19, 2024

“Ensuring you have a deep understanding of your partners’ business, taking extreme ownership of challenges, and being vulnerable are all tenants of building tight partnerships,” observes Andrew Palmer, CIO for global retail markets at Liberty Mutual Insurance. Failing to align IT and business interests gradually erodes hard-earned trust. “It

IT 108

IT Strategy Consulting Business Objectives 108

CIO Business Intelligence

NOVEMBER 6, 2024

As a growing healthtech company that helps healthcare organizations manage payments and revenue, Trend Health Partners has been laser-focused on HITRUST (Health Information Trust Alliance).

Risk 103

Risk Insurance Machine Learning Management 103