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How Insurance Companies Use Data To Measure Risk And Choose Rates

Smart Data Collective

Here is the type of data insurance companies use to measure a client’s potential risk and determine rates. Traditional data, like demographics, continues to be a factor in risk assessment. Teens and young adults are less experienced drivers and, therefore, at risk for more car accidents. Demographics. This includes: Age.

Insurance 107
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LayerX Security Raises $24M for its Browser Security Platform, Enabling Employees to Work Securely from Any Browser, Anywhere

CIO Business Intelligence

Yet, these fundamental work activities expose organizations to a wide range of security risks, like data leaks, identity and password theft, malicious browser extensions, phishing sites and more. Today’s modern enterprise employees rely heavily on browser-based services and SaaS applications.

IT 59
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Swiss energy services company uses machine learning to see the future

CIO Business Intelligence

But because electricity consumption was easy to gauge, there was no urgency for measuring current and low voltage power flows. That changed in 2017 when Swiss voters approved an energy act that would reduce the country’s dependency on fossil fuels by 2050. Without real-time power measurements, estimated power values were being used.

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Vendor Security is Key to Preventing Future Data Breaches

Smart Data Collective

Unfortunately, there are often many weak links in the data security infrastructure, which can increase the risks of data breaches. However, the Identity Theft Resource Center reports a 68% increase in data breaches at corporations in 2021, surpassing the previous record rise of 23% in 2017.

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When natural disasters strike Japan, ?ita University’s EDiSON is ready to act

CIO Business Intelligence

In 2017, the university created its Education and Research Center for Disaster Risk Reduction and Redesign that focuses on disaster relief – including disaster medicine, prevention education, and reconstruction design. So far, the solution has increased details about disaster-response risk by 40% over traditional methods.

IoT 83
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How TCS is helping to fight financial crime with AI and Microsoft Cloud

CIO Business Intelligence

As consumers embrace ecommerce, digital banking, and online payment applications, the risk of fraud and other financial crimes has increased dramatically. billion, a 436% increase over 2017 levels, according to McKinsey. The stakes for financial organizations are growing as well. In 2021, U.S. fraud losses amounted to $5.9

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Rising Tide Rents and Robber Baron Rents

O'Reilly on Data

They published the original Transformer paper (not quite coincidentally called “Attention is All You Need”) in 2017, and released BERT , an open source implementation, in late 2018, but they never went so far as to build and release anything like OpenAI’s GPT line of services. I think not.