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May 22, 2024 | 
datos-insights.com | Deb Zawisza |Jack Krantz |Eric Weisburg |Ashley Lee
The insurance industry is unique in the extent and variability of its regulatory environment. As such, leaders in this sector must have a comprehensive understanding of AI and its implications. As AI continues to advance and permeate various aspects of the insurance industry―from underwriting and claims processing to customer service and fraud detection―it is crucial for companies to have a clear understanding and strategy in place.
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May 20, 2024 | 
datos-insights.com | William Trout |Eric Weisburg |John Horn
Understandings of risk in the capital markets are being reshaped. Financial metrics are now just part of the picture. Risk is now measured in terms of cybersecurity as well. In fact, a recent Datos Insights survey of 170 financial executives responsible for software and operations decisions found that cybersecurity ranks as a top priority for their firms. Equally pressing for capital markets participants is digital transformation, which can play a keystone role in fueling cyber risk. (Figure 1).
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May 14, 2024 | 
datos-insights.com | Enrico Camerinelli |Nancy Casbarro |Alijah Poindexter |Eric Weisburg
Retail clients of top banks have been subject to fraudulent scams when using Zelle, prompting interest and inquiries from bank regulators. According to a Q1 SEC filing from Wells Fargo, government authorities have conducted formal and informal investigations into the management of fund transfer disputes through the Zelle Network. This news follows a similar announcement from JPMorgan in its 2023 Annual Report, which reported that the bank dealt with similar Zelle Network investigations.
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May 13, 2024 | 
datos-insights.com | Eric Weisburg |David Barnhardt |Mitch Wein |Nancy Casbarro
As insurers look to reduce underwriting friction and drive straight-through processing, automation powered by advanced technologies like natural language AI is taking center stage. Based on a recent roundtable discussion with insurance CIOs, held at our annual CIO Council meeting in Boston, carriers are actively exploring opportunities to streamline underwriting by intelligently extracting and enriching data from submissions.
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May 7, 2024 | 
datos-insights.com | Deb Zawisza |Eric Weisburg |Caitlin Simmons |Paul Mattern
As an insurer, are you feeling weighed down by technical debt? The heavy burden of supporting outdated legacy systems and spaghetti code that should have been modernized long ago? You’re not alone: technical debt is one of the insurance industry’s longest-standing IT challenges. On Wednesday, April 24th, I hosted the most recent Datos Insights Women’s Network meeting on the topic of project prioritization and technical debt.
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May 3, 2024 | 
datos-insights.com | Eric Weisburg |Lisa Asher |Jack Krantz |Paul Mattern
The Life, Annuities, and Benefits (LAB) industry is facing a pivotal moment. As consumer expectations shift and digital capabilities become increasingly essential, LAB carriers must embrace core system modernization to remain competitive. However, the path to successful transformation is not a one-size-fits-all approach; rather, it requires careful evaluation and strategic decision-making.
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May 1, 2024 | 
datos-insights.com | Eric Weisburg |Lisa Asher |Chris Eberly |Jack Krantz
In today’s rapidly evolving insurance landscape, customer communications management (CCM) has become a key part of driving customer satisfaction and operational efficiency. As customer expectations continue to shift towards personalized interactions that may span multiple channels, insurers should adapt their CCM strategies to remain competitive and deliver exceptional experiences.
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Apr 23, 2024 | 
datos-insights.com | David Barnhardt |Deb Zawisza |Eric Weisburg
For years, the thought of what business email compromise (BEC) attacks can do to them financially and reputationally has terrified businesses. I recall working for a company that was notified by a supplier that they were impacted by a BEC scheme. It set off a panic within my company wondering if our data was compromised. People tend to fear what is unknown, but BEC exploits what everyone finds to be normal for the individuals or companies they typically do business with.
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Apr 18, 2024 | 
datos-insights.com | Deb Zawisza |Eric Weisburg |David Mattei
Datos Insights recently held our annual conference of 90+ senior executive IT leaders across the insurance industry. Surprisingly, technology was not the only top of mind topic for the attendees. The challenge of business and IT alignment continues to be an obstacle despite years of Agile transformation and robust governance programs. It’s not a new theme or story. However, it’s becoming a crucial capability for carriers to thrive in an ever more turbulent world.
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Apr 16, 2024 | 
datos-insights.com | Eric Weisburg |David Mattei
As a seasoned insurance industry analyst and consultant, I’ve witnessed countless instances where the promise of a compelling business case fails to materialize in practice. At the heart of this issue lies the challenge of accurately identifying and quantifying all the costs and benefits associated with a project.
