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. Now, the first of those areas is definitely risk and portfolio management. 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? , Let’s dive into greater detail on the second lever – Manage Risk Better.

Insurance 69

Insurance Risk Technology Management 69

IBM Big Data Hub

DECEMBER 8, 2023

.” This same sentiment can be true when it comes to a successful risk mitigation plan. The only way for effective risk reduction is for an organization to use a step-by-step risk mitigation strategy to sort and manage risk, ensuring the organization has a business continuity plan in place for unexpected events.

Risk 67

Risk Strategy Risk Management Insurance 67

Domino Data Lab

JULY 14, 2022

So the spotlight is on model risk management (MRM) and governance (MRG), two related critical processes for financial services and insurance companies, and the importance of these two disciplines is only expected to grow.

Insurance 98

Insurance Modeling Management Risk Management 98

AWS Big Data

JULY 16, 2024

This post is written in collaboration with Clarisa Tavolieri, Austin Rappeport and Samantha Gignac from Zurich Insurance Group. Zurich Insurance Group (Zurich) is a leading multi-line insurer providing property, casualty, and life insurance solutions globally.

Insurance 106

Insurance Management Cost-Benefit Optimization 106

DataRobot Blog

APRIL 29, 2022

This provides a great amount of benefit, but it also exposes institutions to greater risk and consequent exposure to operational losses. 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.

Risk 111

Risk Modeling IT Risk Management 111

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

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

JULY 15, 2021

We recently hosted a roundtable focused on o ptimizing risk and exposure management with data insights. 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. .

Risk 99

Risk Optimization Management Insurance 99

Cloudera

SEPTEMBER 7, 2023

With AI, financial institutions and insurance companies now have the ability to automate or augment complex decision-making processes, deliver highly personalized client experiences, create individualized customer education materials, and match the appropriate financial and investment products to each customer’s needs.

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

CIO Business Intelligence

MARCH 18, 2024

But while there’s plenty of excitement and change underway, security risks and vulnerabilities have continued to follow right alongside that innovation. Management of ICT third-party risk : Tasks firms with ensuring any third-party vendor is aligned with its security and digital resilience capabilities.

Risk Management 120

Risk Management Insurance Risk Testing 120

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

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

FEBRUARY 4, 2021

Financial services institutions need the ability to analyze and act on massive volumes of data from diverse sources in order to monitor, model, and manage risk across the enterprise. They need a comprehensive data and analytics platform to model risk exposures on-demand. Cloudera is that platform. End-to-end Data Lifecycle.

Risk 87

Risk Marketing Technology Management 87

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. Regulation and risk are a big focus for financial institutions.

Data Analytics 80

Data Analytics Risk Management Digital Transformation Analytics 80

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

John Wheeler

OCTOBER 21, 2019

Over the past month, I’ve been speaking to various groups to help them prepare for the onslaught of digital risks in their organizations. A common theme is the need for greater risk quantification beyond the realm of traditional, qualitative governance, risk and compliance (GRC) approaches.

Risk 53

Risk Risk Management Digital Transformation Insurance 53

CIO Business Intelligence

AUGUST 6, 2024

The incident not only affected the availability of crucial cybersecurity defenses but also laid bare the broader operational risks associated with third-party service dependencies. Vendor risk management Assess vendor capabilities: Regularly evaluate the risk management and disaster recovery capabilities of key vendors.

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

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). In 2023, Trend underwent a HITRUST r2 assessment, a two-year risk-based assessment considered the most rigorous type of HITRUST certification. “The

Risk 103

Risk Insurance Machine Learning Management 103

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

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

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

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

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

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 131

Risk Insurance Interactive Strategy 131

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

DECEMBER 27, 2023

Those same characteristics, however, reveal the risks AI pose to this sector. It’s really good at summarising, filling in blanks, and connecting dots, so generative AI is fit for purpose,” says Brian Baral, global head of risk at Genpact. So business technology leaders in financial services are carefully navigating a path toward AI.

Insurance 141

Insurance Cost-Benefit Risk Technology 141

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. In fact, under DORA, the complexity of the supply chain or the lack of EU presence are both considered risk factors. 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. These five capabilities support both integrated view of strategic, operational and technology risk as well as the related business outcomes, processes and assets.

Risk Management 52

Risk Management Risk Insurance Predictive Modeling 52

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

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

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

IBM Big Data Hub

MAY 28, 2024

Government regulations, such as the General Data Protection Regulation (GDPR), and industry regulations, such as the Health Insurance Portability and Accounting Act (HIPAA), oblige companies to protect their customers’ personal data. Data risk management To protect their data, organizations first need to know their risks.

Strategy 81

Strategy Measurement Risk Cost-Benefit 81