Tag: insurance security

Allstate AI technology helps spot and stop fraud

Logan B.
Allstate AI - Technology - Hand

The insurance company is using artificial intelligence to reduce its payments to fraudulent claims. New Allstate AI technology is being used to help slash the number of times fraudsters get away with making claims. Insurance fraud has become an $80 billion industry in the United States, forcing premiums skyward. Fraudulent claims in the U.S. are currently estimated to be worth more than $80 billion every year. Legitimate customers are required to cover the cost of the payments that scammers are receiving through higher premiums. Among the reasons that insurance fraud…

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AI technology can do wonders for the insurance industry – Should you be terrified?

Logan B.
AI Technology - Brain Think - Artificial Intelligence

Artificial intelligence tech is already being used for many purposes, but there are issues to consider. AI technology has been a central tech focus for the insurance industry for several years. The advantages it promises both currently and as we move into the future. However, these advantages aren’t without their drawbacks. Security and adoption remain considerable concerns, said a panel of experts at an I.I.I. event. At the recent Insurance Information Institute (I.I.I.) Joint Industry Forum which took place in New York, a panel of tech and insurance industry executives…

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Health insurance exchanges could have had serious security issues in the past

S.Vagus
health insurance news security privacy

New information shows that exchanges were developed hastily by the federal government Health insurance exchanges in the U.S. could have been plagued by serious security issues as they were being formed, according to information from the House Oversight and Government Reform Committee. Several states had opted to allow the federal government to develop insurance exchanges rather than building these exchanges themselves. Because the federal government faced a serious deadline concerning getting these exchanges up and running. As such, the government may have left some aspects of the exchange network vulnerable.…

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Insurance news from India includes massive security risk

Julie Campbell
Insurance News

Companies are facing backlash from fired employees who took sensitive data with them when they left. A massive struggle in India is making insurance news, as Indian insurers discover that employees whom they fired are using sensitive information that they brought with them in order to create a kind of guerilla backlash. A number of insurers have now alerted the country’s regulator to inform it of this situation. What this insurance news has revealed is that fired workers walked away with the data associated with thousands of policies, and that…

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Insurance news about Nationwide’s management of the security breach is covered up

Julie Campbell
health insurance news security privacy

The massive insurer’s lawyers are being used to protect the details of the occurrence last October. Nationwide is currently doing its best to try to keep its insurance news as small as possible, regarding the investigations into the security breach that occurred last October, which exposed the information of 1.1 million Americans. The insurer is taking considerable efforts, through the use of a law firm, to protect the secrecy of the issue. Both state and federal investigators are currently looking into this insurance news, in order to better understand precisely…

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