insurance
8 Cyber Insurance Challenges
Insurers working to provide their customers with adequate cyber coverage must overcome a slew of challenges. Here are eight of the most formidable: Lack of Historical Data While insurers writing policies for flood insurance, for example, can draw on a…
Lowering the Cost of Medical Malpractice for Insurers
The possibility of a medical malpractice lawsuit raises costs for hospitals, according to researchers from Duke University and the Massachusetts Institute of Technology (M.I.T). “They found that the possibility of a lawsuit increased the intensity of health care that patients…
Additional Main Benefits of Cloud Computing and Managed Services for Insurers
My previous blog post detailed three advantages of cloud computing and managed services for insurers. Here are two more important benefits. Optimized Risk Management and Disaster Recovery Using cloud computing insurers can help manage risk and fraud, as well as…
Insurers Are Vulnerable to Cyber Attacks
Hackers are tempted to perpetrate cyber attacks against insurers and such attacks have the potential to be devastating…insurers are vulnerable. The Lure of Customer Data and the Sheer Volume of Attacks Insurers store massive amounts of data in cloud-based systems,…
Main Benefits of Cloud Computing and Managed Services for Insurers
While concerns do exist over some areas of the cloud, such as security, the advantages are overwhelming. Surveys have shown a drop in these concerns as use of the cloud becomes more widespread and expertise in all areas is on…
Only 20% of Insurance CEOs Feel Prepared for Cyber Attacks
Before insurers can offer effective coverage to their own customers, they must ensure that their own cyber security is up to the task. If they are vulnerable, their reputation as an expert in the field of cyber security insurance will…
Insurers are Targets for Cyber Hackers
An insurance provider in the EMEA region experienced every insurer’s worst nightmare in June 2018. Hackers illegally entered the company’s information-technology infrastructure, accessed customer emails and demanded ransom. News of this breach resulted in an immediate drop in the stock…
Cloud Computing and Managed Services for Insurers
Challenges Facing Today’s Insurers Insurers are not unique among businesses in the world in facing significant challenges. They’re constantly looking for new ways to reduce costs, drive revenue, improve collaboration, offer value to their customers and reduce time to market…
What are the Benefits of Cloud Managed Services?
Using cloud managed services, organizations can add to their existing competencies or replace costly functions or processes. Cloud managed services can transform IT systems and automate business processes, allowing the organization to focus more of their resources and efforts on…
Necessary Infrastructure to Benefit from Machine Learning
As with so many other of insurers’ initiatives/goals, possessing a modern, innovative policy administration system (PAS) is absolutely essential. To put it bluntly, decades-old legacy systems are not going to cut it when it comes to machine learning/cognitive computing. It’s…
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