Interest in Analytics Grows, But Lack of Understanding Hampers Adoption

“Within the insurance industry, the big data revolution is already underway,” said Suzanne Kinsler, MBA, research analyst at The Institutes and author of The Institutes’ survey. “Organizations have a responsibility to invest in and support employee knowledge and training in analyzing big data and modeling outcomes, not only to bridge traditional insurance practices and data science, but also to keep up with their competitors.”

Celent worked with The Institutes on a survey of over 2,000 insurer representatives. They found that more than half of insurance chief information officers expected “significant” investment in predictive analytics and business intelligence to assist in underwriting, claims, and more.

Read more at http://www.advisenltd.com/2017/01/19/interest-analytics-grows-lack-understanding-hampers-adoption/

Erin Ayers, Interest in analytics grows, but lack of understanding hampers adoption (January 19, 2017), available with subscription at Advisen Professional Front Page News.

2017 Predictive Modeling Insights Conference – New York

January 19, 2017

8:00 am - 6:00 pm ET 

New York Law School

185 West Broadway

New York, NY, 10013

USA

212.431.2100

Predictive Analytics, in conjunction with Big Data, is transforming insurance marketing, product development, underwriting, pricing and claims management. This full-day conference will highlight significant trends in the use of predictive models and Big Data within the insurance industry, and will provide decision-makers with a framework for evaluating potential applications within their companies.

For more info and registration about this upcoming event, visit the link below:

http://www.advisenltd.com/events/conferences/01/19/2017-predictive-modeling-insights-conference-new-york/

Big Data Aids in Federal Fight Against Cyber Attacks: Report

Federal government agencies plagued by security breaches say they now look to big data analytics for insight into how better to protect themselves and the information they must safeguard, according to a new survey and report from MeriTalk.

“Agencies face a perfect storm of cybersecurity threats,” said Steve O’Keeffe, founder of MeriTalk, a public-private partnership focused on governmental cybersecurity. “When you’re headed into troubled waters, you need a weather forecast. Big data provides agencies with the visibility to ensure they don’t end up the river without a paddle.”

Read more at http://www.advisenltd.com/2016/09/14/big-data-aids-in-federal-fight-against-cyber-attacks-report/

Erin Ayers, Big data aids in federal fight against cyber attacks: report (September 14, 2016), available with subscription at Advisen Cyber Front Page News.

FTC Chair Suggests Nature of “Personally Identifiable” Info is Changing

A recent speech by Federal Trade Commission chairwoman Edith Ramirez offers clues to how the active regulatory agency will view the use of data analytics by businesses and what the future of “privacy” will entail.

“As new technologies and business models continue to emerge, however, we hear with increasing frequency the claim that technological innovation and big data have rendered certain fundamental tenets of privacy, particularly the idea of consumer consent, outdated and ill-suited for today’s digital world.

Read more at http://www.advisenltd.com/2016/09/14/ftc-chair-suggests-nature-of-personally-identifiable-info-is-changing/

Erin Ayers, FTC chair suggests nature of “personally identifiable” info is changing (September 14, 2016), available with subscription at Advisen Cyber Front Page News.

Organizations Worry About Keeping Sensitive Data in the Cloud—But Still Do It

Organizations claim to know where their sensitive data is located, but security firm Vormetric isn’t so sure, based on the results of its 2016 Data Threat Report, which found that while 43 percent of respondents say they have “complete knowledge” of their data, respondents also say that “lack of knowledge” of data amid the rise of cloud and mobile computing is a barrier to effective security.

“At the very least, the results are highly counterintuitive and could suggest that our prior conceptions about the need for data discovery and classification were actually misconceptions. At worst, the results suggest many firms are in denial about how much sensitive data they have and where it’s located, which could be a harbinger of continued damaging data breaches,” Vormetric said in the report completed with the assistance of research firm 451 Research.

Read more at http://www.advisenltd.com/2016/03/08/organizations-worry-about-keeping-sensitive-data-in-the-cloud-but-still-do-it/

Erin Ayers, Organizations worry about keeping sensitive data in the cloud—but still do it, Advisen News (March 8, 2016), available with subscription at Advisen Cyber Front Page News. Subscribe now!