"Insurtech," especially in terms of real-time data, is growing as insurers in Europe try to keep payouts in check and reduce risks for individuals and businesses. Insurers hope that harnessing big data and focusing on risk mitigation can shift consumers' perception of insurance by promoting safer behavior.
Cloud data and artificial intelligence are finally bringing voice recognition technology into the consumer mainstream. CareerFoundry design chief Jeffrey Humble looks at five major industries that stand to be transformed, including wearable devices and customer service.
Ponemon Institute surveyed more than 1,000 health care IT and IT security professionals in the US and UK and found that while 51% said incident responders use threat intelligence to respond to cyberthreats, only 41% said their organizations were highly effective in this area. Respondents cited the lack of expertise and the complexity of threat intelligence data as the top barriers that prevent security experts from using threat intelligence in their organization's cybersecurity program.
Senators are filing bills in response to the Equifax data breach, including one that seeks to restrict data brokers' ability to sell consumers' personal information to marketing companies. In addition, Sen. Elizabeth Warren, D-Mass., is asking the Federal Trade Commission and the Consumer Financial Protection Bureau to investigate data security.
Cryptocurrencies and the technology they are based on aren't developed enough to determine the risks central banks would incur from issuing digital currencies, the Bank for International Settlements said. Most of the suggested benefits of a retail cryptocurrency issued by a central bank could be achieved by letting the public open accounts at the central bank, but central banks are reluctant to do that, the BIS said.
Companies affected by hurricanes Harvey and Irma have begun submitting claims related to business interruption, flooding and other damage. Business-interruption claims are often complex, with direct physical damage usually a condition of coverage, and can take months or years to handle, according to industry experts.
General Motors is partnering with the nonprofit Black Girls Code to get girls interested in science, technology, engineering and mathematics. The organization has accepted a $225,000 grant from GM to help engage women in STEM careers.
Foster-care "hackathons" held in four US locations since May 2016 have spurred civic engagement and have advanced the use of technology to improve services. For example, New York City's Administration for Children's Services is now working with nonprofits and Google to distribute laptops to youth.
Despite a strengthening economy and high job rates, most US workers are unlikely to see sizeable increases in their salaries for 2018, according to Aon's 2017 US Salary Increase Survey of 1,062 US companies, which projects base pay is expected to be 3% in 2018, up slightly from 2.9% in 2017. Read more.
"After hundreds of years of paper notes and cashiers in our banks, I predict that we will be cashless and digital within the next 30 years," says John Brosnan, head of Financial Services Group, Aon Risk Solutions. The Financial Times has described cash as a "barbarous relic" and around the world; digital cryptocurrencies compete to provide people with what is designed to be a completely decentralized currency. Understanding why people are looking to stop circulating cash and what the advantages and pitfalls could be is becoming increasingly important. Read more.
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