data - Blog - Global Risk Community2024-03-29T05:33:46Zhttps://globalriskcommunity.com/profiles/blogs/feed/tag/data#RISK London 2022 - Managing a Privacy Program Across Multiple Jurisdictionshttps://globalriskcommunity.com/profiles/blogs/risk-london-2022-managing-a-privacy-program-across-multiple-juris2022-10-14T11:31:07.000Z2022-10-14T11:31:07.000ZNick Richhttps://globalriskcommunity.com/members/NickRich<div><p style="font-weight:400;">Data privacy regulations and practices serve a critical purpose in today’s tech-centric, digitally focused and hyperconnected world.</p><p style="font-weight:400;">Outlining strict rules on the collection, processing, storage and sharing of sensitive data, privacy laws exist to ensure personal information isn’t used in an unfair, irritating, malicious or potentially harmful manner.</p><p style="font-weight:400;">To achieve this, they stipulate that any organisation can only use data for the purposes for which individuals have given consent – otherwise it must be deleted or removed from storage systems.</p><p style="font-weight:400;">For businesses today, adhering to these privacy laws is business critical. Indeed, it is becoming increasingly clear that consumers demand ethical and proper data management practices.</p><p style="font-weight:400;">According to a recent survey from <a href="https://advisory.kpmg.us/articles/2021/bridging-the-trust-chasm.html?utm_source=vanity&amp;utm_medium=referral&amp;mid=m-00005652&amp;utm_campaign=c-00107353&amp;cid=c-00107353">KPMG</a>, 86% of consumers revealed they are becoming increasingly concerned about data privacy, while 78% expressed fears about the amount of data being collected. Equally, four in 10 stated they do not trust companies to use their personal data in an ethical manner.</p><p style="font-weight:400;">Further, the financial penalties for failing to comply with privacy regulations can deal a hugely damaging blow to any business, the $5 billion non-compliance penalty issued to Facebook in 2019 being a prime example.</p><p style="font-weight:400;">The expectations of consumers and governments surrounding the ways in which organisations manage data are growing, and meeting these obligations and fulfilling those expectations is not optional.</p><p style="font-weight:400;">With compliance critical to retaining consumer confidence and avoiding hefty fines, it must be made a priority. However, adhering to data privacy laws is becoming an increasingly complex task.</p><p style="font-weight:400;"><strong>Geographical disparity brings complexity</strong></p><p style="font-weight:400;">There are many basic data privacy principles which organisations will typically need to consider and meet. These include:</p><ul><li>Informed consent: Organisations must obtain affirmative, explicit consumer consent to collect, use and share their data.</li><li>Data minimisation and Retention: Develop operational plans designed to minimise risks with data that is held.</li><li>Purpose limitations: Consider the purpose of data to ensure that it isn’t collected and stored unnecessarily.</li><li>Data subject requests: Produce, correct, and potentially delete all data associated with an individual upon request.</li><li>Data protection obligations: Obligation to secure data and inform individuals and regulators should it be compromised in the event of a data breach.</li><li>Vendor management: Data shared with a third party must be protected under the provisions of the applicable regulations.</li></ul><p style="font-weight:400;">However, complexity arises when organisations are having to meet varied privacy laws across multiple jurisdictions where the actual responsibilities and requirements can differ significantly.</p><p style="font-weight:400;">The most far-reaching and renowned data privacy laws currently in place are the EU’s General Data Protection Regulation (GDPR), the US’s California Consumer Privacy Act (CCPA) and California Privacy Rights Act (CPRA)<em>. </em>Yet today, almost all major economies now have comprehensive data protection laws that apply with extraterritorial effect, and those that don’t will have one soon.</p><p style="font-weight:400;">Equally, within individual countries, organisations often face a complex mix of sectoral privacy laws. In the US, for example, more and more states are passing their own unique privacy laws that are leaving entities with a complex mix of sectoral privacy laws to face up to<em>.</em></p><p style="font-weight:400;">So, how can organisations achieve best practice for managing an effective and effective privacy program across multiple jurisdictions? Thankfully, despite these challenges, there are several fundamentals that will make privacy programmes more adaptable and responsive to differing and changing privacy requirements.</p><p style="font-weight:400;"><strong>Three steps to embracing a privacy-first culture</strong></p><p style="font-weight:400;">Taking a centralised approach to data management is an effective, efficient, and scalable way of ensuring your organisation meets privacy laws.</p><p style="font-weight:400;">By making data privacy and protection a priority, it becomes woven into the DNA of the organisation, ensuring the alignment of all parties with clear policies when collecting, processing, using and/or managing data.</p><p style="font-weight:400;">Of course, this isn’t a quick switch. Embracing a holistic data management and privacy strategy can often entail significant cultural change backed by meticulous planning and interdepartmental cooperation. Yet there are three key steps to follow in pursuing this strategy adaptation.</p><p style="font-weight:400;"><strong>1) Start with a data inventory</strong><br />To align with privacy rules, entities first must gain a comprehensive understanding of exactly where data is kept, what it consists of and how it is being used is vital. Improving this understanding requires a data inventory – a neatly organised central platform containing accurate and detailed information on all your organisation’s data. These can play a vital role in helping to identify data that isn’t being used, is sensitive, or is subject to regulatory or policy controls. Further, they also outline how risky an organisation’s storage practices are. To both build and maintain a data inventory without placing a massive strain on resources, automated technologies can be used, helping you to find, identify and classify personal information as well as assess data compliance and calculate risk across the entire data landscape quickly, accurately and securely.</p><p style="font-weight:400;"><strong>2) Only keep the data you need</strong> <br />Organisations should equally only keep the data they need. If it’s duplicative, outdated, doesn’t serve a specific and explicit purpose, and isn’t linked to a lawful purpose, it shouldn’t be processed. To understand the value (or lack of value) of data, key documentation principles need to be adopted. Outlining key parameters will allow the business to determine what is relevant or excessive, which can then be applied to the elements of personal data and each proposed use.<em> </em></p><p style="font-weight:400;"><strong>3) Work with trusted partners</strong><br />A key challenge stems from the fact that organisations are responsible for what their third-party vendors do with personal data. Data shared with a third party must be protected under the provisions of the applicable regulations, so entities must ensure they perform due diligence and audits on all partner vendors so that they are not held accountable for data breaches or regulatory violations. Indeed, it is vital to work with trusted partners – if you wouldn’t trust them with your personal data, why would you trust them with your customers’ data?</p><p style="font-weight:400;"><strong>The first mover advantage</strong></p><p style="font-weight:400;">Evolving and expanding privacy regulations across various jurisdictions can make compliance a daunting task. Yet with the right changes and appropriate policies, data privacy programmes can become streamlined and scalable to meet changing regulatory requirements.</p><p style="font-weight:400;">Embracing these need not be a burden. By remaining ahead of the curve, organisations will be able to better break down organisations siloes and use data to innovate, collaborate, unleash creativity more effectively.</p><p style="font-weight:400;">Indeed, to ensure compliance in the future, it is critical that firms get their houses in order today. </p><p style="font-weight:400;"><a href="https://www.grcworldforums.com/risk/risk-2022/london/attend-risk">Register here to attend #RISK 2022</a>, of which the Global Risk Community is a partner, and gain entry to the speaker session <strong>Managing a Privacy Program Across Multiple Jurisdictions</strong> at <strong>13:40-14:25</strong> on <strong>17th November</strong> within <a href="https://www.grcworldforums.com/risk/risk-2022">#RISK</a>’s <a href="https://www.grcworldforums.com/risk/risk-2022/london/agenda">Data Protection & Privacy Hub</a>. </p></div>3 Roles Integral for Data Governance Initiativeshttps://globalriskcommunity.com/profiles/blogs/3-roles-integral-for-data-governance-initiatives2022-09-03T10:54:03.000Z2022-09-03T10:54:03.000ZMark Bridgeshttps://globalriskcommunity.com/members/MarkBridges<div><p><img class="aligncenter size-full wp-image-11725" src="http://flevy.com/blog/wp-content/uploads/2022/09/DG-Roles-2-scaled.jpg" alt="" width="1200" height="1200" />Data Governance is a set of practices that outline the roles and accountabilities related to data and support the organization’s Business Model by generating and consuming data. It’s all about overseeing the accessibility, practicality, reliability and safety of enterprise data.</p><p><a href="https://flevy.com/business-toolkit/data-governance">Data Governance</a> is guided by in-house data standards and guidelines to monitor data usage. The process safeguards data uniformity, dependability, and fair use. The success of a Data Governance initiative should be measured by its expected business benefits or organizational growth—not just data security and usability.</p><p>Incoherent data creates hurdles in Data Analytics and business operations. Data protection initiatives should be managed by structured Data Governance roles. An <a href="https://flevy.com/business-toolkit/building-effective-teams">organized team</a> is critical for success of a Data Governance program.</p><p><a href="https://flevy.com/browse/marketplace/guidelines-for-information-security-and-policy-review-5037">Data standardization, precision, security</a> and governance isn’t the sole dominion of IT people; it’s a team effort. These tasks involve participation of a number of stakeholders from across the organization. Data Governance program includes people from the business side, data management personnel, and IT recruiters. The convergence of IT and business people in a Data Governance program allows for a bigger picture perspective on governing the organizational data.</p><p>The functions of the IT and business users in the Data Governance initiative can be demarcated as:</p><h3><strong>IT People</strong></h3><p>The IT resources responsible for the Data Governance program focus on data safekeeping, modeling and standardization. They are responsible for taking care of the fundamental infrastructure, applications, Automation, compatibility with all tools and apps, and execution of Data Governance policies.</p><h3><strong>Business People</strong></h3><p>The business people in the Data Governance team, on the other hand, focus on ensuring data access, excellence, and responsiveness. Business users oversee the value assigned to the data, its utilization in fulfilling organizational objectives, and solving complex problems. Business users come up with common data definitions, key performance indicators to measure the quality of data, and support in administering governance policies and procedures.</p><p>The <a href="https://flevy.com/browse/flevypro/data-governance-roles-and-responsibilities-6356">key roles that are mandatory for Data Governance</a> initiatives include:</p><ol><li><a href="https://flevy.com/browse/stream/leadership"><strong> Leadership</strong></a></li><li><strong> Data Governance Council</strong></li><li><strong> Data Stewards</strong></li></ol><p><a href="http://https//flevy.com/browse/flevypro/data-governance-roles-and-responsibilities-6356"><img class="aligncenter size-full wp-image-11723" src="http://flevy.com/blog/wp-content/uploads/2022/09/Data-Governance.png" alt="" width="1200" height="752" /></a></p><p>Let's now delve deeper into the details of some of these key roles.</p><h3><strong>Leadership</strong></h3><p>Data Governance programs commence with assigning an executive Data Governance sponsor. The executive sponsor ensures availability of critical investments and <a href="https://flevy.com/browse/stream/human-resources">expert Human Resources</a> and clearly laying out the overall understanding and objectives of the initiative.</p><p>The Executive Data Governance Sponsor role, at several large organizations, is assigned to a Chief Data Officer (CDO) or a Data Governance Manager, at other enterprises. The CDO, or Data Governance Manager, is responsible for:</p><ul><li>Aligning the Data Governance policy with the <a href="https://flevy.com/browse/stream/strategy-development">overall goals of the Business Strategy</a>.</li><li>The CDO should possess the technical knowledge required to manage the Data Governance process and policies in addition to having management competencies.</li><li>Managing all correspondence and internal messaging related to the Data Governance initiative.</li><li>Analyzing progress of the Data Governance program and ensuring its schedule and budget targets.</li><li>Coordinating the tasks to be carried out by the Data Governance Council.</li></ul><h3><strong>Data Governance Council </strong></h3><p>The Data Governance Council (DGC) acts as a steering committee to strategically direct the design and implementation of the Data Governance Program. The Data Governance Council comprises:</p><ul><li>Technical, business and legal experts.</li><li>Data stewards from the various departments.</li><li>A C-suite executive to direct the strategic constituent of the program.</li><li>Data analysts to analyze trends.</li></ul><p>DGC is responsible for:</p><ul><li>Rendering <a href="https://flevy.com/strategic-planning">strategic direction and planning</a> to manage the organizational data.</li><li>Establishing objectives for the initiative.</li><li>Ascertaining the requirements for Data Governance.</li><li>Developing and authorizing data standards, policies, business rules and program procurement.</li><li>Resolving issues escalated by the Data Stewards.</li><li>Sharing the results of the program.</li></ul><p>Interested in learning more about the roles and responsibilities pertaining to a Data Governance initiative? You can download <a href="https://flevy.com/browse/flevypro/data-governance-roles-and-responsibilities-6356">an editable PowerPoint on <strong>Data Governance: Roles & Responsibilities </strong>here </a>on the <a href="https://flevy.com/browse">Flevy documents marketplace</a>.</p><p><strong>Do You Find Value in This Framework?</strong></p><p>You can download in-depth presentations on this and hundreds of similar business frameworks from the <a href="https://flevy.com/pro/library">FlevyPro Library</a>. <a href="https://flevy.com/pro">FlevyPro</a> is trusted and utilized by 1000s of management consultants and corporate executives. Here’s what some have to say:</p><p><em>“My FlevyPro subscription provides me with the most popular frameworks and decks in demand in today’s market. They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions. I strongly recommend FlevyPro to any consultant serious about success.”</em></p><p><em>– Bill Branson, Founder at Strategic Business Architects</em></p><p><em>“As a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power. For us, it is an invaluable resource to increase our impact and value.”</em></p><p><em>– David Coloma, Consulting Area Manager at Cynertia Consulting</em></p><p><em>“FlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients. In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over! The quality of the decks available allows me to punch way above my weight – it’s like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.”</em></p><p><em>– Roderick Cameron, Founding Partner at SGFE Ltd</em></p></div>The RegTech drive and investment powering industry growthhttps://globalriskcommunity.com/profiles/blogs/the-regtech-drive-and-investment-powering-industry-growth2021-06-18T09:00:00.000Z2021-06-18T09:00:00.000ZCheri Burnshttps://globalriskcommunity.com/members/CheriBurns<div><div class="row justify-content-between align-items-center flex-nowrap header__main_row">
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<p>The <a href="https://www.encompasscorporation.com/blog/regtech-compulsory-fight-against-financial-crime/">‘new normal’ for business</a> sees professionals combine days working from home with days in an office. This change is giving new impetus, and importance, to digital transformation initiatives.</p>
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<p>Characterised by tasks combining clerical and knowledge work with handover between tasks achieved ad-hoc via electronic communications, long-established operating processes are proving inadequate for this ‘new normal.’ </p>
<p>The need to modernise, and equip teams and individuals to work as productively beyond the office as within it, is driving investment in digital platforms. Delivered as software-as-a-service from the cloud, these platforms mean location is no barrier to productivity and success.</p>
<p>Until recently, <a href="https://www.encompasscorporation.com/blog/digital-transformation-automation-banks-future/">digital transformation programmes</a> have bypassed the operations teams responsible for ensuring compliance with regulations. Why is this? An explanation could be that, while compliance is a necessary cost of doing business in regulated sectors, it can be viewed by executives who steer the revenue engines of their firms as a sinkhole consuming ever greater resources but contributing little to their growth agendas.</p>
<p>For several years now, those responsible for upholding regulatory compliance across industries have regarded and promoted RegTech as a tool that allows firms to build compliance cultures and improve operational performance. These bodies include the Commodity Futures Trading Commission in the US, <a href="https://www.encompasscorporation.com/blog/partner/financial-conduct-authority/">the Financial Conduct Authority (FCA) in the UK</a>, the Monetary Authority of Singapore, and the Australian Securities and Investments Commission. </p>
<p>Looking at the impact of RegTech specifically, partnering with the City of London Corporation, RegTech Associates undertook analysis <a href="https://www.rtassociates.co/regtech-uk-research/" target="_blank">in their report </a><em>2021: A Critical Year for RegTech</em>, assessing the annual cost of financial crime compliance in the UK as $49.5bn, while estimating that RegTech could save at least 0.05% of total compliance costs.</p>
<p>On the upward trend in investment that we are seeing in the sector, in <a href="https://home.kpmg/xx/en/home/insights/2021/02/pulse-of-fintech-h2-20-global.html#:~:text=Fintech%20investment%20down%20significantly%20in,acquisition%20of%20WorldPay%20by%20FIS." target="_blank"><em>Pulse of FinTech H2 2020</em></a>, a KPMG report, it was said that “interest in regtech solutions skyrocketed as companies working to digitize processes quickly to support shifting business and consumer demands looked for efficient and cost-effective ways to manage their regulatory requirements in a shifted business environment. This growing interest drove regtech funding to US$10.6 billion, well above the previous high of US$6.5 billion seen in 2018”. </p>
<p>In recent months several privately-held vendors have also announced significant investment in their companies, including Encompass, after securing new <a href="https://www.encompasscorporation.com/blog/encompass-secures-investment-from-beacon-equity-partners-to-power-growth/">investment from Beacon Equity Partners</a>, a Boston-based private equity group.</p>
<p>We should expect that digital platforms reset the economics of compliance. A challenge for RegTech vendors aspiring to be viewed as peers to other technologies underpinning broad digital transformation is to convince executives managing business teams that their digital platform makes a significant recurring contribution to their firm’s growth.</p>
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</div></div>11 Pillars: Quality 4.0 Frameworkhttps://globalriskcommunity.com/profiles/blogs/11-pillars-quality-4-0-framework2021-02-17T10:35:00.000Z2021-02-17T10:35:00.000ZMark Bridgeshttps://globalriskcommunity.com/members/MarkBridges<div><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;"><a href="{{#staticFileLink}}8563874691,original{{/staticFileLink}}"><img class="align-right" src="{{#staticFileLink}}8563874691,RESIZE_400x{{/staticFileLink}}" alt="8563874691?profile=RESIZE_400x" width="360" height="240" /></a>The introduction of emerging, digital technologies has ushered in the Fourth Industrial Revolution. To keep the competitive advantage in this era of Digital Transformation, leveraging contemporary technology is an absolute necessity. Using cutting-edge technology means not just augmenting, but in fact, revamping the whole Quality outlook.</p><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;">Quality 4.0 is the complimentary Quality approach to the Industry 4.0 era. Quality 4.0 is about transforming and improving Organizational Culture, collaboration, competency, and Leadership Development among other things through the application of technology.</p><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;">Quality 4.0 is characterized by:</p><ul style="margin:0px 0px 15px;padding:0px 0px 0px 30px;border:0px;font-size:13px;vertical-align:baseline;background-position:0px 0px;list-style:none;font-family:Georgia, serif;"><li style="margin:0px;padding:0px;border:0px;font-size:15px;vertical-align:baseline;background:0px 0px;line-height:21px;color:#333333;list-style-type:disc;">Transforming and improving culture, collaboration, competency, and leadership through the application of technology.</li><li style="margin:0px;padding:0px;border:0px;font-size:15px;vertical-align:baseline;background:0px 0px;line-height:21px;color:#333333;list-style-type:disc;">Digital Transformation of Management Systems and compliance.</li><li style="margin:0px;padding:0px;border:0px;font-size:15px;vertical-align:baseline;background:0px 0px;line-height:21px;color:#333333;list-style-type:disc;">Enabling technology and processes necessary to maximize value, resolve customary Quality impediments, and provide innovative solutions.</li></ul><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;">Quality 4.0 is not just about Digitalization, but more importantly about the impact of that Digitalization on Quality technology, processes, and people.</p><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;">Companies can use the 11 pillars of Quality 4.0 Framework to identify how the existing capabilities and initiatives can be transformed and then educate, plan, and act accordingly. The framework uses the traditional Quality methods to build upon and improve them. The 11 pillars of Quality 4.0 include:</p><ol style="margin:0px 0px 15px;padding:0px 0px 0px 30px;border:0px;font-size:13px;vertical-align:baseline;background-position:0px 0px;list-style:none;font-family:Georgia, serif;"><li style="margin:0px;padding:0px;border:0px;font-size:15px;vertical-align:baseline;background:0px 0px;line-height:21px;color:#333333;list-style-type:decimal;"><span style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;font-weight:bold;">Data</span></li><li style="margin:0px;padding:0px;border:0px;font-size:15px;vertical-align:baseline;background:0px 0px;line-height:21px;color:#333333;list-style-type:decimal;"><span style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;font-weight:bold;">Analytics</span></li><li style="margin:0px;padding:0px;border:0px;font-size:15px;vertical-align:baseline;background:0px 0px;line-height:21px;color:#333333;list-style-type:decimal;"><span style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;font-weight:bold;">Connectivity</span></li><li style="margin:0px;padding:0px;border:0px;font-size:15px;vertical-align:baseline;background:0px 0px;line-height:21px;color:#333333;list-style-type:decimal;"><span style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;font-weight:bold;">Collaboration</span></li><li style="margin:0px;padding:0px;border:0px;font-size:15px;vertical-align:baseline;background:0px 0px;line-height:21px;color:#333333;list-style-type:decimal;"><span style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;font-weight:bold;">App Development</span></li><li style="margin:0px;padding:0px;border:0px;font-size:15px;vertical-align:baseline;background:0px 0px;line-height:21px;color:#333333;list-style-type:decimal;"><span style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;font-weight:bold;">Scalability</span></li><li style="margin:0px;padding:0px;border:0px;font-size:15px;vertical-align:baseline;background:0px 0px;line-height:21px;color:#333333;list-style-type:decimal;"><span style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;font-weight:bold;">Management Systems</span></li><li style="margin:0px;padding:0px;border:0px;font-size:15px;vertical-align:baseline;background:0px 0px;line-height:21px;color:#333333;list-style-type:decimal;"><span style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;font-weight:bold;">Compliance</span></li><li style="margin:0px;padding:0px;border:0px;font-size:15px;vertical-align:baseline;background:0px 0px;line-height:21px;color:#333333;list-style-type:decimal;"><span style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;font-weight:bold;">Culture</span></li><li style="margin:0px;padding:0px;border:0px;font-size:15px;vertical-align:baseline;background:0px 0px;line-height:21px;color:#333333;list-style-type:decimal;"><span style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;font-weight:bold;">Leadership</span></li><li style="margin:0px;padding:0px;border:0px;font-size:15px;vertical-align:baseline;background:0px 0px;line-height:21px;color:#333333;list-style-type:decimal;"><span style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;font-weight:bold;">Competency</span></li></ol><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;"><a style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;color:#001a66;" href="https://flevy.com/browse/flevypro/quality-4-0-series-primer-5356"><img class="aligncenter size-full wp-image-7642" style="margin:0px auto 15px;padding:3px;border:1px solid #e2e4e5;vertical-align:bottom;background:rgba(255,255,255,0.7);text-align:center;height:auto;display:block;" src="https://flevy.com/blog/wp-content/uploads/2020/11/Slide-Deck-image-Quality-4.0.png" alt="" width="1002" height="752" /></a></p><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;">The majority of the companies are still not in a position to take leverage of Quality 4.0. This warrants making investments in improving traditional Quality and bringing themselves in a position where they can spring up to use Quality 4.0 to prepare for the future.</p><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;">There are strong interrelationships between the pillars of Quality 4.0, and adding new capabilities to certain pillars facilitates new applications on other pillars. Let us delve a little deeper into a few of these pillars.</p><h3 style="margin:0px 0px 0.5em;padding:0px;border:0px;font-size:20px;line-height:1.5em;font-family:Arial, sans-serif;vertical-align:baseline;background-position:0px 0px;color:#222222;"><span style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;">1. Data and 2. Analytics</span></h3><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;"><a style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;color:#001a66;" href="https://flevy.com/business-toolkit/data-and-analytics">Data and Analytics</a> form the first 2 pillars. Data is key to informed <a style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;color:#001a66;" href="https://flevy.com/business-toolkit/decision-making">decision making</a>. Most companies are still using fragmented data while the innovating market leaders have progressed to taking leverage of Big Data. Data can be better understood by understanding its 5 components: Volume, Variety, Velocity, Veracity, and Transparency.</p><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;">Analytics help reveal the insights contained within raw data. Correct metrics are key to uncovering correlations and patterns—meaningful information. Big Data Analytics using Machine Learning and Artificial Intelligence is beneficial if the Analytics Framework—comprising Descriptive, Diagnostic, Predictive, and Prescriptive Analytics—is understood clearly.</p><h3 style="margin:0px 0px 0.5em;padding:0px;border:0px;font-size:20px;line-height:1.5em;font-family:Arial, sans-serif;vertical-align:baseline;background-position:0px 0px;color:#222222;"><span style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;">3. Connectivity</span></h3><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;">Connectivity encompasses the link between Business Information Technology—e.g., Enterprise Quality Management Systems (EQMS), Product Life-cycle Management (PLM), Enterprise Resource Planning—and Operational Technology that is used in Manufacturing, Labs, and Services. Connectivity is achieved through abundant and inexpensive sensors providing real-time feedback from Connected People, products, edge devices, and processes.</p><h3 style="margin:0px 0px 0.5em;padding:0px;border:0px;font-size:20px;line-height:1.5em;font-family:Arial, sans-serif;vertical-align:baseline;background-position:0px 0px;color:#222222;"><span style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;">4. Scalability</span></h3><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;">Scalability creates uniformity in Quality. It is the ability to harmonize processes, best practices, competencies, and lessons learnt across the organization, be it global. Cloud Computing has played a pivotal role in harnessing scalability by providing Software as a Service (SaaS), Infrastructure as a Service (IaaS), Platform as a Solution (PaaS), and connection of databases.</p><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;">The reality of the future is Quality 4.0. It is being adopted very swiftly. Those who remain unfamiliar with it or are slow to adopt run the risk of being marginalized very quickly.</p><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;">Interested in learning more about Quality 4.0? You can download <a style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;color:#001a66;" href="https://flevy.com/browse/flevypro/quality-4-0-series-primer-5356">an editable PowerPoint on <strong>Quality 4.0</strong> here </a>on the <a style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;color:#001a66;" href="https://flevy.com/browse">Flevy documents marketplace</a>.</p><h3 style="margin:0px 0px 0.5em;padding:0px;border:0px;font-size:20px;line-height:1.5em;font-family:Arial, sans-serif;vertical-align:baseline;background-position:0px 0px;color:#222222;">Do You Find Value in This Framework?</h3><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;">You can download in-depth presentations on this and hundreds of similar business frameworks from the <a style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;color:#001a66;" href="https://flevy.com/pro/library">FlevyPro Library</a>. <a style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;color:#001a66;" href="https://flevy.com/pro">FlevyPro</a> is trusted and utilized by 1000s of management consultants and corporate executives. Here’s what some have to say:</p><blockquote style="margin:0px;padding:10px 20px 10px 50px;border:0px;font-size:13px;vertical-align:baseline;background-position:0px 0px;position:relative;color:#444444;font-family:Georgia, serif;"><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-style:italic;font-size:15px;line-height:21px;vertical-align:baseline;background:0px 0px;color:#333333;">“My FlevyPro subscription provides me with the most popular frameworks and decks in demand in today’s market. They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions. I strongly recommend FlevyPro to any consultant serious about success.”</p><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-style:italic;font-size:15px;line-height:21px;vertical-align:baseline;background:0px 0px;color:#333333;">– Bill Branson, Founder at Strategic Business Architects</p></blockquote><blockquote style="margin:0px;padding:10px 20px 10px 50px;border:0px;font-size:13px;vertical-align:baseline;background-position:0px 0px;position:relative;color:#444444;font-family:Georgia, serif;"><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-style:italic;font-size:15px;line-height:21px;vertical-align:baseline;background:0px 0px;color:#333333;">“As a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power. For us, it is an invaluable resource to increase our impact and value.”</p><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-style:italic;font-size:15px;line-height:21px;vertical-align:baseline;background:0px 0px;color:#333333;">– David Coloma, Consulting Area Manager at Cynertia Consulting</p></blockquote><blockquote style="margin:0px;padding:10px 20px 10px 50px;border:0px;font-size:13px;vertical-align:baseline;background-position:0px 0px;position:relative;color:#444444;font-family:Georgia, serif;"><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-style:italic;font-size:15px;line-height:21px;vertical-align:baseline;background:0px 0px;color:#333333;">“FlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients. In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over! The quality of the decks available allows me to punch way above my weight – it’s like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.”</p><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-style:italic;font-size:15px;line-height:21px;vertical-align:baseline;background:0px 0px;color:#333333;">– Roderick Cameron, Founding Partner at SGFE Ltd</p></blockquote></div>COVID-19 an impact on the adoption of Connected Device Analyticshttps://globalriskcommunity.com/profiles/blogs/covid-19-an-impact-on-the-adoption-of-connected-device-analytics2020-11-07T09:55:37.000Z2020-11-07T09:55:37.000ZKBV Researchhttps://globalriskcommunity.com/members/KBVResearch<div><p>Connected Device Analytics is highly valuable in the present scenario. Let’s see why these devices are making trends in the industry. There is amplified adoption of these tools in various sectors due to increased penetration of the internet and rise in the adoption of the Internet of Things (IoT), a rise in the adoption of advanced technologies for payment, and an increase in the need for digital infrastructure. Also, factors such as new software approval, training, and knowledge transfer, and infrastructure are required for the growth of the business, and Connected Device Analytics help in achieving these goals in some or other way. This Digital transformation environment conceivably created opportunities for the businesses, and thus the need to make real-time insights has increased.</p><p></p><p><a href="{{#staticFileLink}}8219693656,original{{/staticFileLink}}" target="_blank"><img src="{{#staticFileLink}}8219693656,original{{/staticFileLink}}" class="align-center" alt="8219693656?profile=original" /></a></p><h2><strong>What do we understand by Connected Device Analytics?</strong></h2><p>Connected devices are smart devices connected to each other and also with the system with the help of a network. <a href="https://www.kbvresearch.com/connected-device-analytics-market/">Connected device analytics</a> means the use of specific analytical tools that are attached to the connected devices in order to extract value from large volumes of data produced in the devices. These analytical solutions are mainly liable for gathering, integrating, and filtering data from the devices and the Internet of Things (IoT). The data that is collected by these tools include network requests, error events, and device information.</p><p></p><h2><strong>Services that are offered by Connected Device Analytics</strong></h2><p>Services offered by Connected Device Analytics include professional services and managed services.</p><ul><li><strong>Professional Services</strong>: These services include strategy planning, security, design, deliver and deploy, and many more. On the basis of the requirement of the organizations, it helps to connect with the customers, opens the opportunities to expand the business.</li><li><strong>Managed Services</strong>: It ensures the optimization of service delivery via automation activities. It is actually a third-party management service. Managed Services include business operations, service management, device management, etc.</li></ul><p></p><h2><strong>Uses of Connected Device Analytics</strong></h2><h3><strong>Sales and Customer Management</strong></h3><p>Implementation of Connected Device Analytics in this sector will be helpful in managing equipment maintenance and detecting issues related to the failure. With the swift growth in online shopping, retailers want to access same type of rich data and also high-performance analytics tools.</p><p></p><h3><strong>Security and Emergency Management</strong></h3><p>As Connected Device Analytics is used in security management emergency management, it protects communities by coordinating all activities that are necessary to build, sustain, and expand the capability to mitigate the threat or actual natural disasters, etc.</p><p></p><h3><strong>Inventory Management</strong></h3><p>Implementation of Connected Device Analytics solves the business’s fundamental requirement. It increases productivity, and monitor inventory in real-time for all sized businesses.</p><p></p><h3><strong>Remote Monitoring</strong></h3><p>It has become possible to monitor the works remotely. In the past few decades, the business methods have been changed at the same time it also put some changes to keep an eye on the running business. Connected Device Analytics is helpful in remote monitoring and provide valuable insight into their asset and also revive the critical files.</p><p></p><h2><strong>Impact of COVID-19 connected device analytics</strong></h2><p>The COVID-19 outbreak has a significant effect on the economies of many countries. As many of the countries declared complete lockdown in order to prevent the spread of this highly infectious disease. This has resulted in the decreased adoption of Connected Device Analytics. But when the situation will become a little normal, the demand for these devices will increase exponentially. This is because pandemic has led to practicing new things such as work for home and social distancing, and these are generating the need for remote monitoring, smart payment technologies, and building the digital infrastructure for deployment at a large scale.</p><p></p><p>In addition to it, augmented demand for applications, such as remote monitoring, predictive maintenance customer and sales management, energy management, and asset maintenance will result in the increasing demand for solutions and services.</p><p></p><h2><strong>Benefits of implementation of Connected Device Analytics</strong></h2><ul><li>Connected Device Analytics also supports to take smart decision and offer the most efficient processes that are helpful for the businesses growth.</li><li>This allows small and large companies to manage, analyze, and predict the operations and processes of the business.</li><li>These tools are also helpful in improving profitability, efficiency, and also neutralize the threats in the business.</li><li>These tools also offer a considerable benefit to the business by augmenting their decision making and improve safety and security by monitoring the real-time data.</li><li>It will benefit in providing additional operational data and improves asset management and data analysis thereby boost the business's growth.</li><li>By using Connected Device Analytics, the overall time and cost of operation in businesses have been reduced.</li></ul><p></p><h2> <strong>The bigger picture</strong></h2><p>The Connected Device Analytics Market has been witnessing rapid growth as the number, type, and purpose of devices is dramatically expanding due to the increased adoption of the Internet of Things (IoT) growing beyond the limited applications. It is anticipated that in the coming five years, many IoT applications will become interconnected. This will drive the demand for connected device analytics in the coming few years. As these tools are accompanied with many advantages such as reducing the cost, enhanced monitoring, and maintenance service by providing real-time data, it is always considered as valuable for businesses.</p><p></p><p>Organizations like industrial, enterprise sectors, and across consumer, are speedily assessing and applying for programs so as to appreciate its instant value and concentrate on cost reduction, monitoring to collect real-time services which are needed for timely decision-making. Although the outbreak of COVID-19 has resulted in slowing down the market it is predicted to show exponential growth in the coming years.</p><p> </p></div>Nudging Executiveshttps://globalriskcommunity.com/profiles/blogs/nudging-executives2020-10-20T00:05:39.000Z2020-10-20T00:05:39.000ZBryan Whitefieldhttps://globalriskcommunity.com/members/BryanWhitefield<div><p><a href="{{#staticFileLink}}8219694881,original{{/staticFileLink}}" target="_blank"><img src="{{#staticFileLink}}8219694881,original{{/staticFileLink}}" class="align-right" width="420" height="213" alt="8219694881?profile=original" /></a>Senior leaders love to be challenged, when you prove them right!</p><p>Unfair? Yes. There are plenty of great leaders who truly want their staff to speak up. However, even some of these may suffer from measurement blindness.</p><p>When it comes to numbers and decision making there are three positions people take.</p><p><strong>Believers</strong></p><p>These people believe measurement enhances decisions. They will ask for measurement and readily listen to the numbers being presented, they will look to see if there are any abnormalities and when satisfied, they will trust the numbers.</p><p><strong>Swingers</strong></p><p>These are the people that like the numbers when it suits them and not so when they don’t. They will accept data that affirms their position, and they will reject data that goes against their conclusions.</p><p><strong>Gamblers</strong></p><p>These are the gut feel decision makers. The ones that follow the mantra that there are three types of lies: “Lies, damned lies and statistics”. They simply don’t believe what comes from a “black box”.</p><p>When <a href="https://www.bryanwhitefield.com.au/blog/nudging-the-cfo/" target="_blank">nudging the CFO</a>, presumably they are believers in measurement. When nudging other executives, it is important to understand if they are a believer, a swinger or a gambler.</p><p>For believers your mantra should be “If you can observe it, I can measure it, but I’ll closely consider the cost of measurement along the way.”</p><p>For swingers and gamblers, your mantra should be “I can give you some further insight to help you with this decision.” That is, don’t talk data and measurement, talk insights. The marketing insights teams worked that one out many years ago.</p><p>Stay safe and adapt – with better measurement!</p><p></p><p>__________________________________________________________________________________</p><p><a href="{{#staticFileLink}}8028269661,original{{/staticFileLink}}" target="_blank"><img src="{{#staticFileLink}}8028269460,original{{/staticFileLink}}" class="align-left" width="360" height="120" alt="8028269460?profile=original" /></a></p><p><br /> Bryan's new book teaches you practical methods to cut through with your advice and make the impact you want to make. Available on Amazon or order <a href="https://www.bryanwhitefield.com.au/product/wcbook/" target="_blank">here</a> now.</p><p></p><p></p><p><a href="{{#staticFileLink}}8028259276,original{{/staticFileLink}}" target="_blank"><img src="{{#staticFileLink}}8028259276,original{{/staticFileLink}}" class="align-left" width="357" height="119" alt="8028259276?profile=original" /></a></p><h3><strong>YOUR DECISIONS DEFINE YOU.</strong></h3><p>Available on Amazon or order <a href="http://www.bryanwhitefield.com.au/product/decide-how-to-manage-the-risk-in-your-decision-making/" target="_blank">here</a> now.</p><p></p><p></p><p></p><p>Bryan Whitefield works with strategic leaders across all sectors to help organisations harness uncertainty – uncertainty is the strategic leader’s best friend. He is the author of <em>DECIDE: How to Manage the Risk in Your Decision Making</em> and <em>Winning Conversations: How to turn red tape into blue ribbon</em>. He is the designer of the <a href="https://www.bryanwhitefield.com.au/experts-need-advocates-whitepaper/" target="_blank">Risk Culture: Build Your Tribe of Advocates Program</a> for support functions and the <a href="https://www.bryanwhitefield.com.au/persuasive-adviser-program/" target="_blank">Persuasive Adviser Program</a> for internal advisers. Both can be booked individually or in-house. For more information about Bryan, please <a href="http://www.bryanwhitefield.com.au/about-bryan/" target="_blank">click here</a>.</p><p></p><p></p><p><a href="http://www.bryanwhitefield.com" target="_blank">www.bryanwhitefield.com</a></p><p></p><p></p><p></p></div>How Career in Data Science will Take You to New Heightshttps://globalriskcommunity.com/profiles/blogs/how-career-in-data-science-will-take-you-to-new-heights2020-09-04T06:05:18.000Z2020-09-04T06:05:18.000ZBhupendra Prasadhttps://globalriskcommunity.com/members/BhupendraPrasad<div><p>The popularity and excitement around data science and its successful applications are wonderful. Data science can be termed as one of the most essential developments of the early 21st century. Data science involves understanding, extracting, and visualizing the data. It has applications to various fields that have adequate available data.</p><p></p><p><a href="{{#staticFileLink}}8028336255,original{{/staticFileLink}}" target="_blank"><img src="{{#staticFileLink}}8028336255,original{{/staticFileLink}}" class="align-center" alt="8028336255?profile=original" /></a></p><p>Data Science is a multidisciplinary subject that utilizes scientific algorithms, methods, processes, and systems to gain insights and knowledge from structured and unstructured data. The basic goal of data science is to predict the information from the already existing data.</p><p><em>Data scientist is termed as the hottest and sexiest job of the 21st century.</em></p><h2>Skills Required to become a Data scientist</h2><h3>1. Machine Learning</h3><p>Machine learning is a subset of Artificial Intelligence that focuses on the learning of data and its computational machine. Various algorithms of machine learning are used in clustering, classification, and regression of data.</p><ul><li>Clustering: Data Scientist uses this method to divide the data into a number of groups such that data in one particular group is similar to other data points in the same group and not similar to the data points in other groups.</li><li>Classification: It is a method utilized for approximating a function from input variables to output variables.</li><li>Regression: It is a method used for the prediction of the dependent variable in a group of independent variables.</li></ul><h3>2. Programming language:</h3><p>So, you should know to write the program to understand so much data, shouldn’t you? That’s when the understanding and knowledge of the programming languages become essential for you. The most renowned and used languages in data science are Python, R, SQL, Jupyter notebooks, and Tensor flow, etc.</p><h3>3. Data Visualization</h3><p>It is a method to visualize the analyzed data. It is really difficult to understand a massive amount of data, isn’t it? That is the reason why a data scientist uses the method of data visualization in the forms of graphs and charts because they make easier to understand the pattern and the trends.</p><p>There are various types of data visualization such as Graphs, Charts, Tables, and Maps, etc.</p><h3>4. Statistics</h3><p>Statistics is an integral part of all machine learning algorithms. It allows a data scientist to dig deep into the data and get accurate and in-depth knowledge of data which helps us to study the data. There is no other way to execute the algorithms of machine learning and data science without statistics.</p><p><strong>Type of Statistics:</strong></p><ul><li>Descriptive Statistics: It gives knowledge about the data. In this, data is organized and categorized on the basis of the given parameters. And that can be done through tables, graphs, or numerical value.</li><li>Inferential Statistics: This can predict the output based on the previous data. The procedure of inferential statistics is based on the testing of hypotheses and calculation of parameters.</li></ul><h3>5. Data Mining</h3><p>A data scientist uses this technique to extract useful information and discover trends from the data. For accuracy, we require a big amount of data.</p><p><strong>Steps of Data Mining:</strong></p><ul><li>Exploration of Data: It means to collect data that is relevant to a particular problem. This can be performed manually or automatically. Data scientists use programming languages to extract manual data.</li><li>Modeling: This technique involves applying algorithms on the data and to get the best data model which is relevant to the problem. Various models are applied to the same data for getting the best result. Meta-learning and booting are some popular techniques.</li><li>Model Deployment: The final stage in data mining is the model deployment and it is essential because the whole study process is based on this.</li></ul><h2>Prospects in Future</h2><p>Data science has been successful in speeding the discovery of probability and hypothesis outcomes in various fields. Currently, many data scientists claim that data science will transform many conventional disciplines to a great degree. However, transformation in some disciplines is already underway such as supply chain management and chemical engineering. It is only a matter of time and tested-results that well explain the value and extent of the transformation.</p><p>While data science has addressed and applied successfully in many fields, there are many challenges that must be met and addressed over the next decade as data science matures.</p><p>Due to its recent emergence, unlimited breadth of applications, and its inherently interdisciplinary nature, the brightness in careers of data scientists is way beyond our intellect. There are going to massive dearth and demand for a data scientist in the coming years due to the constant explosion of data available on the internet and the need to establish correlations among different data sets to resolve a particular problem. Still there is a large learning curve ahead for data science.</p><p>As Data scientist jobs are in demand in this technology-driven modern world, there will be a plethora of Data scientist jobs for you in the years to come. Due to the remarkable popularity of data science, there are a plethora of online data scientists’ courses that are available today.</p><p>According to a new report Global Data Science Platform Market, published by Markets and Markets Research Private Ltd., The Data Science Platform market size is expected to grow from USD 37.9 billion in 2019 to USD 140.9 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 30.0% during the forecast period.</p><h3>What is a data scientist salary?</h3><p>I know this is what you must be thinking about. Career prospects in Data science are bright as even an entry-level scientist can earn as high as $7,000 per year. An early career data scientist with 1-4 years of experience earn an average of $8,250 annually. And this can go even to average of $14,500 per year with 5-9 years of experience.</p><p>If you wonder how to become a data scientist, then SkillXS IT Solutions offers Data scientist certificate courses online that cover the subject in depth. Data scientist certification course by SkillXS IT Solutions will help you become a data scientist with rich insight.</p><p>So, if you want to become a Data scientist without a degree, then SkillXS IT Solutions offers extensive courses in the subject. Get Data scientist education with SkillXS IT Solutions today and be a future-ready Data scientist with comparatively higher pay than other fields.</p><p><strong>SkillXS IT Solutions</strong> provides the best Data scientist online course that will help to become job-ready. Hence, what are you waiting for? SkillXS IT Solutions is giving you the chance to become a zero to hero level data scientist.</p><p><strong>Book your seat:</strong> <a href="https://www.skillxs.com/course/117/data-scientist">https://www.skillxs.com/course/117/data-scientist</a></p><p>In collaboration with top universities, SkillXS IT Solutions is ready to serve you with cost-effective but still the most extensive data scientist online course.</p><h3>Data Scientist Salary by Companies</h3><p>Undoubtedly, renowned firms rule the outlines of the most lucrative pay rates for information employments. They likewise hold a notoriety for expanding compensations by 15%, yearly.</p><h2>Data Scientist: In a Nutshell</h2><p>Data is a growing field and it will flourish more in the years to come. It is ranked number 3 best job for 2020 by a Glassdoor and was ranked the number one best job from 2016-2019. Data science is dominantly used to discover the correlations. Therefore, it is useful in reducing the search space from massive correlations or possible results to a much smaller number. The greatest benefit of data science is that it can discover trends or correlations in a massive amount of data far beyond the capacity of human intellect.</p><p>Though data scientists have achieved remarkable success, still there is a long way to go wherein data science surpasses the ability of modern-day science. Risks, challenges, and benefits in data science are abounding. Data science is yet to emerge to its full potential.</p></div>Need Help Identifying Growing Markets and Pricing Your Products Right? Refer To Conjoint Analysishttps://globalriskcommunity.com/profiles/blogs/need-help-identifying-growing-markets-and-pricing-your-products2020-07-24T11:45:52.000Z2020-07-24T11:45:52.000ZMark Bridgeshttps://globalriskcommunity.com/members/MarkBridges<div><p><a href="{{#staticFileLink}}8028328880,original{{/staticFileLink}}" target="_blank"><img class="align-right" src="{{#staticFileLink}}8028328880,original{{/staticFileLink}}" alt="8028328880?profile=original" width="300" /></a>Identifying what the market wants is a critical issue for most executives. Likewise, the decision on how much to charge for a product is also crucial for planners. This is where Market Research comes to rescue.</p><p>One of the Marketing Research methods that researchers most commonly employ is the <a href="https://flevy.com/browse/flevypro/conjoint-analysis-primer-5154"><strong>Conjoint (Trade-off) Analysis</strong></a>. Conjoint Analysis helps in identifying product features that consumers prefer, discerning the impact of price changes on demand, and estimating the probability of product acceptance in the market.</p><p>In contrast to directly inquiring from the respondents about the most important feature in a product, Conjoint Analysis makes the survey participants assess product profiles. These product profiles comprise various linked—or conjoined—product features, therefore the analysis is termed “Conjoint Analysis.” Conjoint Analysis simulates real-world buying situations where the researchers statistically determine the product attributes—that carry the most impact and are attractive to the participants—by substituting the features and recording the participants’ responses.</p><p><strong>The Conjoint Analysis Approach</strong></p><p>The Conjoint Analysis is useful in creating market models to estimate market share, revenue, or profitability. The Conjoint Analysis is widely used in marketing, product management, and operations research. The Conjoint Analysis approach entails the following key steps:</p><ol><li><strong>Determine the Study Type</strong></li><li><strong>Identify Relevant Features</strong></li><li><strong>Establish Values for Each Feature</strong></li><li><strong>Design Questionnaire</strong></li><li><strong>Collect Data</strong></li><li><strong>Analyze Data</strong></li></ol><p><a href="https://flevy.com/browse/flevypro/conjoint-analysis-primer-5154"><img class="aligncenter size-full wp-image-7139" src="https://flevy.com/blog/wp-content/uploads/2020/07/Conjoint-Analysis-Primer.png" alt="" width="1200" height="1080" /></a></p><p><strong>1. Determine the Study Type</strong></p><p>The first step of the Conjoint Analysis involves ascertaining and selecting from a number of different types of Conjoint Analysis methods available. This should be determined based on the individual requirements of the organization.</p><p><strong>2. Identify Relevant Features</strong></p><p>The next step of the Conjoint Analysis entails categorizing the key features or relevant attributes of a product. For instance, setting the main product attributes in terms of size, appearance, price.</p><p><strong>3. Establish Values for Each Feature</strong></p><p>After selecting the key features of the product, the next step in Conjoint Analysis is to choose some values for each of the itemized features that have to be enumerated. A combination of features in different forms should be chosen to present to the participants. The presentation could be written notes describing the products or in the form of pictorial descriptions.</p><p><strong>4. Design Questionnaire</strong></p><p>The basic forms of Conjoint Analysis—practiced in the past—encompassed a set of product features (4 to 5) used to create profiles, displayed to the respondents on individual cards for ranking. These days, different design techniques and automated tools are used to reduce the number of profiles while maintaining enough data availability for analysis. The questionnaire length depends on the number of features to be evaluated and the Conjoint Analysis type employed.</p><p><strong>5. Collect Data</strong></p><p>A statistically viable sample size and accuracy should be considered while planning a Conjoint Analysis survey. It is up to the senior management to decide how they want to gather the responses—by taking the responses from each individual and analyzing them individually, collecting all the responses into a single utility function, or dividing the respondents into segments and recording their preferences.</p><p><strong>6. Analyze Data</strong></p><p>Various econometric and statistical methods are utilized to analyze the data gathered through the Conjoint exercise. This includes linear programming techniques for earlier Conjoint types, linear regression to rate Full-Profile Tasks, and Maximum Likelihood Estimation (MLE) for Choice-based Conjoint.</p><h3><strong>Types of Conjoint Analysis</strong></h3><p>There are a number of Conjoint Analysis types available for the marketing researchers to choose from, including:</p><ol><li>Two-Attribute Tradeoff Analysis</li><li>Full-Profile Conjoint Analysis</li><li>Adaptive Conjoint Analysis</li><li>Choice-Based Conjoint Analysis</li><li>Self-Explicated Conjoint Analysis</li><li>Max-Diff Conjoint Analysis</li><li>Hierarchical Bayes Analysis (HB)</li></ol><p>Interested in learning more about <a href="https://flevy.com/browse/flevypro/conjoint-analysis-primer-5154">Conjoint Analysis</a>? You can download <a href="https://flevy.com/browse/flevypro/conjoint-analysis-primer-5154"><u>an editable PowerPoint on <strong>Conjoint Analysis Primer</strong> here</u></a> on the <a href="https://flevy.com/browse">Flevy documents marketplace</a>.</p><h3><strong>Are you a Management Consultant?</strong></h3><p>You can download this and hundreds of other <a href="http://flevy.com/pro/library/frameworks">consulting frameworks</a> and <a href="http://flevy.com/pro/library/consulting">consulting training guides</a> from the <a href="http://flevy.com/pro/library">FlevyPro library</a>.</p></div>Data Center Rack Power Distribution Units and Future Trendshttps://globalriskcommunity.com/profiles/blogs/data-center-rack-power-distribution-units-and-future-trends2020-07-17T07:02:35.000Z2020-07-17T07:02:35.000ZKBV Researchhttps://globalriskcommunity.com/members/KBVResearch<div><p>Now, more than ever, there is a growing demand for the establishment of effective and efficient data centers. An important factor determining the efficiency of a data center is its power distribution units and how the servers and devices are powered in a data center.</p><p></p><p><a href="{{#staticFileLink}}8028329673,original{{/staticFileLink}}" target="_blank"><img src="{{#staticFileLink}}8028329673,original{{/staticFileLink}}" class="align-center" alt="8028329673?profile=original" /></a></p><p></p><p>Power distribution units are power strips that transmit and control power in a data center. While this may sound simplistic, the functionalities of the <a href="https://www.kbvresearch.com/data-center-rack-power-distribution-unit-market/">data center rack power distribution unit</a> have evolved over the years. Not only do they transmit electricity, but they also provide data on resource usage for use in a data center. This information can be used to understand how power is being used efficiently in the data center.</p><p></p><h2><strong>What is the data center rack power distribution unit?</strong></h2><p>The Power Distribution Unit (PDU) or Mains Distribution Unit (MDU) is a system with several outputs designed to distribute electrical power, in particular to computer rack and network equipment installed within a data center. Data centers face challenges in the field of power protection and management strategies. That's why many data centers rely on PDU monitoring to improve efficiency, uptime, and growth.</p><p></p><p>PDUs range from basic and inexpensive rack-mounted power strips to larger floor-mounted PDUs with several features like power filtering to improve power efficiency, intelligent load balancing, and remote LAN or SNMP monitoring and control. This type of PDU placement offers intelligent features such as inlet, outlet, and PDU power metering and support for environmental sensors.</p><p></p><p>The newer generation of intelligent PDUs allows for IP consolidation, which ensures that multiple PDUs can be connected in an array under a single IP address. Next-generation versions also provide connectivity with electronic locks, including the ability to network and manage PDUs and locks with the same appliance.</p><p></p><h2><strong>The progressive demand for data centers</strong></h2><p>The data center is central to the activities of the organization. It is a repository for most enterprise-critical applications where most company data is stored, processed, and disseminated to consumers. Most data centers use battery-based emergency power supplies that can cover for short-term power outages and bigger generators that can supply power in the case of longer commercial power outages. As 5G-fueled hyperconnectivity expands business networks and moves data production to the edge, technology leaders and engineers need to re-imagine the data center to remain in the race. Data center rack intelligence is utterly critical to business success.</p><p></p><h2><strong>Importance of data center racks</strong></h2><p>When it comes to moving equipment to a placement facility, it's important to consider how much room would be required to accommodate all of the infrastructures. It would be a fairly simple process, but it may be more difficult if the existing server equipment is not well organized or deployed. For many on-site applications, the IT infrastructure may be very disorganized and poorly documented. This is why auditing equipment is one of the most important steps in the migration planning process.</p><p></p><p>Assessing data center rack needs requires more than simply making sure there is enough room for server equipment to be installed. Power distribution is also critical because some servers can need a lot more power than others. Just because the cabinet has 42U of space doesn't necessarily mean that it can accommodate a lot of equipment. Cabinet capacity is limited by power delivery cables, so running so many servers in a cabinet could end up blowing a fuse.</p><p></p><p>The server cabinets today support a significantly higher power density than in the past. Although the typical cabinet used only about 3-5kW of electricity, the newer cabinets support more than 10kW on average. In a hyperscale facility with a more robust power system, it is not uncommon to see high-density racks capable of serving workloads of about 30-40 kW. If a facility supports high-density deployments, it might make sense to invest in newer blade-style servers to reduce the amount of space needed to provide the same level of computing power.</p><p></p><h2><strong>Why is there a need for a data center rack power distribution unit?</strong></h2><p>The most critical feature of modern PDUs is their ability to control and manage energy consumption in a data center. Armed with information such as power use from the power strip outlet, you can make informed choices that can help you maximize the power output of your data center. By finding areas in your data center that require easy rearrangement of devices for more effective power usage, you can be prepared for better capacity planning.</p><p></p><p>By monitoring device-level power usage, you can determine where much of your power is consumed, and analyze if the unit is highly significant to be used given its high power consumption. With companies around the world focusing on being more eco-friendly and governments introducing laws to reduce environmental impact, your organization's data center needs to consume as little power as possible to remain competitive.</p><p></p><h2><strong>Trends that mark the adoption rate of data center rack PDUs</strong></h2><h3><strong>The growing inclination among collocation service providers</strong></h3><p>The increasing demand for scalable data centers, the reduction of overall IT expenditure, and the increasing complexity of data centers are increasing the demand for data placement services. The collocation services of the data center ensure that the daily data demand is managed scalable and cost-effectively. This acts as one of the main drivers of the market for data center collocation.</p><p></p><p>Data center collocation end-users include small and medium-sized enterprises and large enterprises, which are expected to have the largest market share in the forecast period. Large-sized enterprises are inclined to offer collocation services because they can lease large areas and meet their power and computing requirements. Collocation services help large organizations to better manage the infrastructure of the data center. These services also support business continuity as a result of their disaster recovery benefits.</p><p></p><h3><strong>The increasing procurement of metered PDUs</strong></h3><p>Requirements for data centers are increasing, while space and budgets are declining. Since data center workers are obligated to be more efficient, they turn to PDUs. A metered PDU offers the possibility to conserve resources at a granular level – money, staff hours, and space, thus enabling employees to focus on more strategic tasks. The cost of regulating the temperature of a data center can be absorbed by the operating budget. Modern hot-air containment solutions help to minimize costs, but lower operating temperatures for legacy rackmount PDUs mean that they can only help a lot.</p><p></p><p>Newer meter rack PDUs have a higher operating temperature – up to 140°/60°C – which means a significant reduction in the cooling costs of the facility. The downtime caused by the plug being knocked out of place is an incident that occurs too frequently in data centers. Most rack PDUs rely on external plugs or cable trays to secure plugs. While these prevention methods are effective, they require additional time from staff and represent additional costs. Next-generation metered rack PDUs provide built-in IEC outlet grips that have the same protection without the need for proprietary power cords or cumbersome additions.</p><p></p><h2><strong>To sum up</strong></h2><p>The Power Distribution Unit (PDU) is a system that provides a power supply to the servers. Theoretically, this device looks simple and does no better than the alternating current distribution board conventionally referred to as ACDB. To a large extent, this can be a correct interpretation. But, as we start looking at the finer details of this language, we may understand that it is not at all a very easy subject. In particular with the application perspective, it is a very important facility in the data center. Apart from providing continuous loading power, this equipment can add a great deal of value to the entire system.</p><p></p><p><strong>Free Valuable Insights:</strong> <a href="https://www.kbvresearch.com/news/data-center-rack-power-distribution-unit-market/">Global Data Center Rack Power Distribution Unit (PDU) Market to reach a market size of USD 2.4 billion by 2026</a></p><p></p><p>The world around us is evolving every day, and these developments are forcing all of us to discover new ways to adapt and transition towards a future powered by technology. To businesses, this involves partnering with organizations delivering the newest technology-backed tools to help them solve the challenges they face in today's ever-changing world. For data centers empowering these companies, this means embracing new technologies and improving the design concept to help them mitigate the concerns of their customers while at the same time improving the services they provide to them.</p></div>User Friendly Satellite Data Services to Revolutionize Developmenthttps://globalriskcommunity.com/profiles/blogs/user-friendly-satellite-data-services-to-revolutionize2020-07-09T07:48:36.000Z2020-07-09T07:48:36.000ZKBV Researchhttps://globalriskcommunity.com/members/KBVResearch<div><p>Technological developments allow satellite imagery simpler and quicker to use than ever before. A growing number of companies are having their data accessible free of charge: in 2008, the United States Geological Survey made free-to-use data from its Landsat satellites, contributing to a major increase in the usage of satellite data for scientific and industrial purposes. The European Space Agency has now introduced a focus on free and transparent data for the Copernicus program.</p><p></p><p><a href="{{#staticFileLink}}8028322861,original{{/staticFileLink}}" target="_blank"><img src="{{#staticFileLink}}8028322861,original{{/staticFileLink}}" class="align-center" alt="8028322861?profile=original" /></a></p><p></p><h2><strong>What are satellite data services?</strong></h2><p><a href="https://www.kbvresearch.com/satellite-data-services-market/">Satellite data services</a> are designed to implement satellite Earth Observation ( EO) technologies that are transverse to the broad EPOS population and ideal for usage in many solid Earth science application scenarios. Satellite Data is integrated by National Research Infrastructures that have innovative and established Earth Observation (EO) products and services to be used in many Solid Earth Sciences technology scenarios.</p><p></p><p>Satellite data services are cloud-based services providing access to near-real-time, ready-to-use satellite imagery and products derived from Sentinel-1 and 2 satellites. They handle pre-processing and associated costs, so you don't have to. Low cost monthly or annual licenses provide consumers with access to review of ready-to-use satellite data under an open data license for applications to help track, control, and calculate land-based operation and change over time.</p><p></p><h2><strong>Who needs satellite data services?</strong></h2><h3><strong>Natural resources</strong></h3><p>Satellite data services and GIS Maps (Geographic Information Systems) have a significant role in the evaluation and study of natural resources, including livestock, forestry, and coastal management. Satellite images can offer up to 30 centimeters of spatial resolution for improved study, measurement, and tracking of natural resources.</p><p></p><p>This technology can contribute to a wide range of global change-related potential applications for vegetation and ecosystem dynamics, hazard and disaster monitoring, geological and soil analysis, land surface climatology, hydrology, land cover change, and the generation of ortho-rectified Digital Elevation Models (DEMs).</p><p></p><h3><strong>Defense & Intelligence</strong></h3><p>Satellite data services provide geospatial services to government departments and military companies for various defense and security mapping applications. From satellite picture acquisition to final image analysis, these services can recognize the need for impeccable precision and image quality for the mapping and knowledge requirements.</p><p></p><p>Satellite imagery and GIS maps optimize security systems that enable local governments to properly evaluate and consider how to implement strategies to save a life, protect property, and enhance the potential economic prosperity of their cities. Current threats to a world range from terrorism activities and intelligence assaults on vital facilities to the possible usage of weapons of mass destruction and the spread of infectious diseases. Each of these threats could cause massive losses and disruption to a country.</p><p></p><h3><strong>Mining</strong></h3><p>Satellite data services and aerial photography have proven to be valuable resources for mineral discovery projects. They can be seen in a number of ways. First, they supply geologists and field crews with the location of paths, highways, fences, and inhabited areas. It is critical for mapping future access corridors for exploration areas and considering the environmental effects of large projects. Satellite map data is also useful for mapping outcrops and regolith systematics and covering vegetation through research blocks and geographical areas.</p><p></p><p>Satellite data services can also benefit geologists, scientists, and exploration managers from the multiple bands that satellites carry that allow them to interpret wavelengths that cannot be seen by the human eye. Near-infrared, short-wave infrared and thermal infrared can be used to identify differences in the structural features of the earth's surface. Multispectral imaging and thematic analysis allow researchers to capture reflective data and the absorption properties of dirt, rock, and vegetation. This data can also be used by professional photogeologists to view surface lithologies, to distinguish clays, oxides, and soil types from satellite imagery.</p><p></p><h3><strong>Geographic Information Systems(GIS)</strong></h3><p>The Geographic Information System or GIS is a system that provides a fundamentally new way of creating and utilizing the maps required to navigate our cities and industries. GIS produces intelligent super maps from which complex planning and analysis can be carried out at the click of a button. Satellite Imaging Corporation (SIC) integrates orthorectified satellite imagery with derived vector data and client-provided geospatial data to produce single, GIS data-rich maps for numerous industrial uses, including agriculture, emergency prevention, energy, and environmental monitoring.</p><p></p><p>Satellite data services incorporate GIS data to achieve a multi-layer result for many types of analysis and management related to a project. The expertise and accuracy of GIS mapping services prevent almost all potential problems associated with GIS maps. Through utilizing machine learning, neural network algorithms and satellite remote sensing techniques, automated extraction of objects observed on satellite imagery will speed up and minimize the cost of, for example, tracking and counting animals, detection of solar panel installations on commercial and residential buildings, detection of related objects in form or materials or other suitable applications.</p><p></p><h2><strong>Here's how user-friendly satellite data can revolutionize development:</strong></h2><p>Satellite imagery can offer valuable data that complement conventional data collection mechanisms, such as censuses and surveys. This can provide valuable insights on disaster response, track deforestation by calculating the evolution of forest cover over time, and help urban development by monitoring urban growth.</p><p></p><p>However, despite the increased accessibility of satellite data, converting it into accessible knowledge also needs significant skills and resources. Although recent advances in data analytics have enabled some analysis to become computerized and automated, such practices have yet to be implemented on a scale by the construction industry. Nevertheless, if the processing burden for any individual country is removed, the data can be incorporated much more easily within the country, the national system, and processes.</p><p></p><h3><strong>Making satellite data ‘analysis-ready’</strong></h3><p>Satellite images have to be processed before they are ready for analysis. One specific technique, for example, is to eliminate cloud cover from photographs by replacing contaminated pixels with clean ones. Another is to remove the haziness that may occur as a result of atmospheric disturbances — a method referred to as "atmospheric correction."</p><p></p><p>To make satellite data more user-friendly, several vendors have started selling analysis-ready data or ARD data. The term applies to data that has already been stripped of any irregularities, in particular by utilizing algorithms — making it more available to companies who might not be willing to utilize it.</p><p></p><h3><strong>Bringing ARD to the development community</strong></h3><p>The Earth Observation organization has created tools to convert a large amount of satellite data into user-friendly formats. These include open-data cubes — open-source systems in which satellite databases are arranged by space and time coordinates. This helps end-users to watch the development of Earth data — such as plants, land usage, or water coverage — within time. In the context of sustainable development, this could mean having easy and quick access to monitoring the effects of climate change in a particular location or urbanization pattern where there are no census mechanisms in place.</p><p></p><p>ARDC has come to life as a result of previous discussions between the Global Partnership for Sustainable Development Data and partner countries. This exposed some of the obstacles that nations encountered when pursuing environmental growth locally, including the time required to process satellite results. In order to promote the adoption of new practices across the different government agencies responsible for data handling, ARDC carries out a range of skill development initiatives, including training.</p><p></p><h2><strong>Conclusion</strong></h2><p>The satellite data services market is expected to grow at substantial rates over the forecast period. Major progress in geospatial imagery analysis combined with the implementation of AI and big data, privatization of the space industry, and the growing demand for small earth observation satellites are driving the market.</p><p></p><p><strong>Free Valuable Insights:</strong> <a href="https://www.kbvresearch.com/news/satellite-data-services-market/">Global Satellite Data Services Market to reach a market size of USD 16.2 billion by 2026</a></p><p></p><p>As in the case of satellite data services to revolutionize growth, the Earth observation industry is still young and developing. Despite technical developments in fields such as machine learning that the pace at which data can be analyzed, the full potential of Earth observation data has yet to be explored. And as the number of users and products grows, ARD may ultimately develop a number of standards that reflect growing types of user needs and requirements.</p></div>Everything About The Virtual Data Room Technologyhttps://globalriskcommunity.com/profiles/blogs/everything-about-the-virtual-data-room-technology2020-07-04T06:20:57.000Z2020-07-04T06:20:57.000ZKBV Researchhttps://globalriskcommunity.com/members/KBVResearch<div><p>Virtual Data Rooms, or VDRs, serve as a secure way to store information that many users need to access simultaneously. <a href="https://www.kbvresearch.com/virtual-data-room-market/">Virtual Data Rooms</a> are commonly used by businesses when they merge, work on a project or other joint venture requiring access to shared data. VDRs are known to be more secure than digital records as there is no chance of failure during transit or accidental destruction. Normally, activities such as copying, printing, and forwarding are prohibited in VDRs.</p><p></p><p><a href="{{#staticFileLink}}8028328080,original{{/staticFileLink}}" target="_blank"><img src="{{#staticFileLink}}8028328080,original{{/staticFileLink}}" class="align-center" alt="8028328080?profile=original" /></a></p><p></p><h2><strong>What is a virtual data room?</strong></h2><p>The Virtual Data Room (VDR), also known as the deal room, is a secure electronic repository for record storage and distribution. It is usually used during the due diligence period before the merger or takeover to review, exchange, and report the company's paperwork. Virtual data rooms have increasingly replaced physical data rooms traditionally used for the disclosure and sharing of documents.</p><p></p><p>With the globalization of industry and accelerated cost-cutting, interactive data rooms are an enticing alternative to traditional data rooms. Virtual data rooms are readily available, instantly accessible, and more secure. As security concerns increase and incidents of breaches increase, VDR providers are developing more sophisticated and reliable databases. Initial public offerings (IPOs), auditing activities, and alliances with other companies that choose to work together to share information can use virtual data rooms.</p><p></p><h2><strong>Uses of Virtual Data Rooms</strong></h2><p>Mergers and acquisitions (M&A) techniques are the most common applications of VDRs. These repositories offer a place for due diligence after the agreement. These business transactions require a vast number of documents, all of which are classified and contain personal details. Using a VDR is a secure and efficient way for all parties to monitor and share information while they participate in negotiations.</p><p></p><p>Businesses often work with each other to produce and manufacture products during the construction of a building and to provide services. The formation and maintenance of these business relationships require contracts and the frequent transmission of data. Virtual data rooms allow for the preservation of these arrangements and make freely available the documentation required for the continuity of business partnerships. For example, the modifications made by the engineer to the blueprints of the structure are immediately available to all contractors involved in the project.</p><p></p><h2><strong>Virtual Data Room Benefits</strong></h2><h3><strong>Prevent Breaches</strong></h3><p>There are no more days of virus-wielding hackers. Today, hackers can tap and mine sensitive M&A information by targeting weak lines of communication such as email and unsecured cloud storage. Email, FTP, and other unsecured cloud storage are no longer secure ways to share data. A virtual data room solution is the best way to ensure that data is secure and out of reach of hackers because it is built with multiple security layers, such as web application firewalls and intrusion detection systems. This helps to ensure that corporate data is not leaked.</p><p></p><h3><strong>Minimize Human Error</strong></h3><p>Deploying a virtual data room may be a cost-effective way to reduce potential human error. Account managers can track and change who has access to can files, and the user is also in charge of the records. With the opportunity to create personalized security profiles, requirements may be eliminated, extra access may be given to ensure that human error may not result in critical data leakage and may not occur in general. Providers allow administrators to restrict the rights of view, print, save, and change to the level of the document.</p><p></p><h3><strong>Accelerate Deal Speed</strong></h3><p>The organization, editing, and data management are core elements of the M&A process. It is no wonder, though, that they can also stifle the momentum of a deal. Due diligence must be properly executed for the M&A agreement to be successful and the ability of a virtual data room to streamline processes will make this possible. Virtual data room providers are making unsecured email attachments a thing of the past with secure document sharing links. These applications allow users to easily share and collaborate on seamless-control documents through a simple, secure link. Clear reporting of exchanged documents gives crucial information to managers to help them handle their dealing operations more effectively.</p><p></p><h2><strong>Who needs the virtual data room technology?</strong></h2><h3><strong>Telecommunications and IT</strong></h3><p>The fast-paced, competitive nature of technology, media, and telecommunications (TMT) space calls for a support network that can keep pace. Virtual Data Rooms provide a secure, reliable environment for managing and closing transactions and keeping up with high-pressure, evolving situations. The interactive, easy-to-use interface takes the difficulty out of working with various partners and contractors, ensuring that no stone is left unfinished and that any step is finished, to help get the deal done quickly and faithfully with Technology, Media & Telecommunications virtual data rooms.</p><p></p><h3><strong>Investment Banking</strong></h3><p>When working in the complex and fast-paced world of investment banking dealers need a data room that can effectively streamline the deal process. The intuitive structure of the virtual data room makes it easier for the dealer as well as the clients to quickly organize and safely exchange all the required operational and financial documents needed for due diligence through mergers and acquisitions, funding, and other financial transactions or alliances.</p><p></p><p>Investment banks and consultants rely on VDRs to keep M&A transactions going and to streamline due diligence for mergers and acquisitions. Legal firms use VDRs to exchange confidential information with their clients, compliance staff, and third parties for business dealings and litigation purposes. Funds and PE firms will often use virtual data room services to communicate and collaborate with limited partners, auditors, and portfolio companies.</p><p></p><h3><strong>Commercial Real Estate Transactions</strong></h3><p>Commercial real estate transactions generally require a number of complex components. It 's crucial to quickly send documents to the parties involved when a dealer is in the middle of negotiating a major real estate deal. Virtual data rooms allow granting various levels of permissions to specific accounts and also allowing the staff to quickly modify or remove those permissions as required.</p><p></p><p>As the real estate transactions evolve, ensuring that the right people have access to the right details is important. In addition, the valuation of these real estate deals would depend on what type of land the building is, for example, an office complex vs. a hotel, etc. Many of these financial details need to be exchanged with prospective buyers.</p><p></p><h2><strong>To sum up</strong></h2><p>The virtual data room market is driven by the growing volumes of company data owing to the complexities of mergers and acquisitions and the rising need for intellectual property and risk management. Virtual data rooms have replaced traditional physical data room services; they also help to reduce costs and increase efficiency and security. Since it is impossible to ignore the comfort of a data room, more and more companies are expressing their desire to open a data room.</p><p></p><p><strong>Free Valuable Insights:</strong> <a href="https://www.kbvresearch.com/news/virtual-data-room-market/">Global Virtual Data Room Market to reach a market size of USD 3.2 billion by 2026</a></p><p></p><p>The growth of virtual data rooms is growing and the market is expanding: any company, law firm, small business, and even a private client, has a chance to find a room that is ideally tailored to the financial capability of the consumer and to their needs and desires. But it might be very difficult to pick the best platform: hundreds of vendors might appear to be the same from the outset.</p></div>Scenario Analysis in Low Data Environments -- The Pandemic Problemhttps://globalriskcommunity.com/profiles/blogs/scenario-analysis-in-low-data-environments-the-pandemic-problem2020-06-26T20:30:00.000Z2020-06-26T20:30:00.000ZBarbara Matthewshttps://globalriskcommunity.com/members/BarbaraMatthews<div><p><span style="font-size:12pt;">Over the last two weeks, we have been exploring the challenges that COVID19 continues to deliver to risk managers, particularly with respect to scenario analysis construction. We would be glad for feedback from this community on whether the content is helpful.</span></p><p></p><p><span style="font-size:12pt;">We have looked at the T<a href="https://www.bcmstrategy2.com/post/two-data-deficits" target="_blank">win Data Deficits</a> created by emergency regulatory policies that change key policy definitions and delay regulatory reporting...and we discussed <a href="https://www.bcmstrategy2.com/post/why-pandemic-era-data-deficits-matter" target="_blank">Why Data Deficits Matter</a>. </span></p><p></p><p><span style="font-size:12pt;">Spoiler alert: data deficits matter because markets need data the way people need oxygen.</span></p><p><span style="font-size:12pt;"><a href="https://www.bcmstrategy2.com/post/why-pandemic-era-data-deficits-matter" target="_blank"><img src="{{#staticFileLink}}8028321691,original{{/staticFileLink}}" class="align-left" width="250" alt="8028321691?profile=original" /></a></span></p><p></p><p></p><p></p><p></p><p></p><p><span style="font-size:12pt;">Regarding scenario analysis for purposes of measuring and managing public policy risks, we have spent this week debunking three misconceptions. Specifically,</span></p><p></p><p><span style="font-size:12pt;"><a href="https://www.bcmstrategy2.com/post/scenario-analysis-misconceptions-1-of-3-the-random-walk" target="_blank">Scenario analysis NOT a dart board exercise or a random walk through politics</a>,</span></p><p><span style="font-size:12pt;"><a href="https://www.bcmstrategy2.com/post/scenario-analysis-misconceptions-1-of-3-the-random-walk" target="_blank"><img src="{{#staticFileLink}}8028322264,original{{/staticFileLink}}" class="align-full" width="250" alt="8028322264?profile=original" /></a></span></p><p><span style="font-size:12pt;"><a href="https://www.bcmstrategy2.com/post/scenario-analysis-misconceptions-2-of-3-event-risk-random-variables" target="_blank">Policy-related event risk is NOT a random variable</a>;</span></p><p><span style="font-size:12pt;"><a href="https://www.bcmstrategy2.com/post/scenario-analysis-misconceptions-2-of-3-event-risk-random-variables" target="_blank"><img src="{{#staticFileLink}}8028321892,original{{/staticFileLink}}" class="align-full" width="250" alt="8028321892?profile=original" /></a></span></p><p><span style="font-size:12pt;">and</span></p><p></p><p><span style="font-size:12pt;"><a href="https://www.bcmstrategy2.com/post/scenario-analysis-misconceptions-3-of-3-ai-is-the-answer" target="_blank">AI is NOT the answer.</a> </span></p><p><span style="font-size:12pt;"><a href="https://www.bcmstrategy2.com/post/scenario-analysis-misconceptions-3-of-3-ai-is-the-answer" target="_blank"><img src="{{#staticFileLink}}8028322667,original{{/staticFileLink}}" width="250" class="align-full" alt="8028322667?profile=original" /></a></span></p><p><span style="font-size:12pt;">Feedback and questions are always appreciated. </span></p></div>Data Center Infrastructure Management Trends And the Next Generation Of Its Technologyhttps://globalriskcommunity.com/profiles/blogs/data-center-infrastructure-management-trends-and-the-next2020-06-12T20:34:36.000Z2020-06-12T20:34:36.000ZKBV Researchhttps://globalriskcommunity.com/members/KBVResearch<div><p>Data center infrastructure management (DCIM) started as an element of building information modeling (BIM) software, which is used by facilities managers to create digital schematic diagrams. DCIM tools bring the same functionality to data centers, allowing managers to collate, store, and analyze power and cooling related data in real-time. Most tools allow diagrams to be printed — a useful feature when a repair is required, or when new hardware has to be installed by data center administrators.</p><p></p><p><a href="{{#staticFileLink}}8028325656,original{{/staticFileLink}}" target="_blank"><img src="{{#staticFileLink}}8028325656,original{{/staticFileLink}}" class="align-center" alt="8028325656?profile=original" /></a></p><p></p><h2><strong>Role of data center infrastructure management in the management of data centers</strong></h2><p>Ad-hoc data center management tools may work for a specific point task, but often such software may not work together adequately to address popular and often complex issues, such as finding out where new servers can be carried out, finding stranded power capacity, or something as basic as getting a better understanding of what assets organizations have stored in a data center.</p><p></p><p><a href="https://www.kbvresearch.com/data-center-infrastructure-management-market/">Data center infrastructure management</a> software provides data center operations administrators with the ability to identify, locate, visualize and manage the properties in physical data center assets, rapidly supply new equipment and effectively plan future growth capacity. Additionally, DCIM tools can help manage energy prices, improve the design of data centers, and increase operational efficiency. Implementing a data center network infrastructure offers major organizational and cost-saving opportunities to data center operations administrators and their companies today and into the future.</p><p></p><h2><strong>Top 3 trends of the data center landscape</strong></h2><h3><strong>Private clouds make up the bulk of corporate cloud services</strong></h3><p>Many companies move to the cloud but they don't want to give up control yet. Companies are using data centers to deploy private cloud services at a growing pace, with more than 28 percent of cloud spending centered on the private cloud.</p><p></p><p>Products such as Azure Stack are used to deliver cloud infrastructure to business users, without removing their data from the corporate-controlled environment. Where necessary, public cloud infrastructures are used but end users don't and shouldn't care where their services come from. Data centers tend to house resources that are too essential to bring into the hands of another.</p><p></p><h3><strong>Colocation continues to thrive</strong></h3><p>Companies locate resources where they are most needed but have no incentive to create their centralized facilities. Investing in colocation means that they can place the task of running a data center in the hands of companies specializing in this. This strategy puts IT back its original business focus: providing the enterprise with a service.</p><p></p><p>The IT team will reconsider the business needs from its data center, from a few racks in a colocation facility to stand-alone micro data centers to the very trite "data center in a box" concept. And the Line-of-Business (LOB) would be the guiding force behind the success of the future datacenter.</p><p></p><h3><strong>Management takes center stage</strong></h3><p>Although the conventional data center network operations center remains essential, the overall management system is changing to allow end-to-end views of data center operations as well as cloud-based infrastructure in both public and private clouds.</p><p></p><p>Data center operators must be able to integrate operations into that view so that LOB IT can get an accurate view of how applications are running, regardless of location, and ensure service delivery is on track, regardless of provider. It goes beyond going into tools for running the data center network and looking into business operations management. For both legacy and modern architectures, the software-defined data center (SDDC) is the basic architecture for data center operations.</p><p></p><h2><strong>Why is it important to manage data center infrastructure?</strong></h2><h3><strong>Greater visibility into the physical infrastructure</strong></h3><p>The data center infrastructure management software integrates all IT infrastructure monitoring into a single system. Administrators know at a glance how to configure their data center environment, what resources are assigned to which physical or virtual services, and how the resources are being used. It is much more effective than having to work it out manually and to record it on spreadsheets.</p><p></p><h3><strong>Improved uptime</strong></h3><p>The data center infrastructure management platform continually tracks the network of critical facilities. It polls equipment, reports data, and tracks trends and threshold breaches. This facilitates the identification of vulnerabilities which may lead to machine failure. Data center operators can proactively troubleshoot with built-in alerts — and cope with possible environmental, network, and power-related device problems before they become issues.</p><p></p><h3><strong>Reduced risk</strong></h3><p>Data center infrastructure management solutions and services help enterprises to simplify routine manual activities such as data replication and storage reclamation — and reduce human error capacity, which accounts for up to 80 percent of all data center outages. With less day-to-day logistical duties to perform, IT managers have more resources to devote to business decisions at a higher level.</p><p></p><h2><strong>Next-generation of data center infrastructure management</strong></h2><p>The purpose of the next generation DCIM is to address these problems. It executes the same basic functions as conventional DCIM, but instead of on-premises, it is hosted in the cloud which unlocks significant new functionality. Since it is offered in a Software-as-a-Service (SaaS) platform, it is much easier to implement next-generation DCIM than its premises-based counterpart — customers can get up and running in a single day.</p><p></p><p>Software, firmware, and security patches are provided automatically, and a cloud-based storage server allows for disaster recovery. Next-generation data center infrastructure management also uses tools such as artificial intelligence (AI), machine learning (ML). By comparing the real-time performance of the network of a specific customer to the projected baseline, it will detect where a particular feature is straying from the baseline and needs preventive maintenance.</p><p></p><p>This helps to cut down on downtime and maintenance costs. Instead of performing maintenance on a scheduled basis, whether it is needed or not, maintenance only takes place when it is required. Next-generation data center infrastructure management is also a good fit for edge data centers which probably have few or no on-site IT staff. At edge sites, no software is needed, so they can be remotely controlled — from any computer that supports a web browser.</p><p></p><h2><strong>The bottom line</strong></h2><p>The data center infrastructure management market has come on leaps and bounds. Many early providers with solutions that are incomplete and difficult to use are no longer commercially viable options. Customers who deployed and experienced first-generation solutions are now much smarter to vote out those failed vendors.</p><p></p><p><strong>Free Valuable Insights:</strong> <a href="https://www.kbvresearch.com/news/data-center-infrastructure-management-market/">Global Data Center Infrastructure Management (DCIM) Market to reach a market size of USD 4.4 billion by 2026</a></p><p></p><p>With the advent of second-generation DCIM, the class of new, elegant software that evolved from the legacy products, users now record-high levels of satisfaction and high return on investment. Second-generation DCIM integrates improved monitoring and operating features versions with better functionality and improved usability for modern data center environments.</p></div>10,000+ claims executives gather for Connected Claims USA Virtual by Insurance Nexus and Reuters Eventshttps://globalriskcommunity.com/profiles/blogs/10-000-claims-executives-gather-for-connected-claims-usa-virtual2020-06-04T12:42:21.000Z2020-06-04T12:42:21.000ZInsurance Nexushttps://globalriskcommunity.com/members/InsuranceNexus<div><p><em>Connected Claims USA has officially launched as the first fully virtual claims event and remains the world’s largest and most senior claims event</em> <em>(June 23-25, 2020).</em></p><p></p><p>As uncertainty becomes the new normal, it has never been more important for the insurance industry to pull together to support customers and claims handlers alike through this difficult time. Claims transformation is more urgently needed than ever before.</p><p></p><p>"<em>It’s true that we’re in a period of disruption, but from disruption, I believe, can come transformation and growth. And that’s what I hope we do as colleagues, is lead through this and make this industry better</em>" said Eric Brandt, <em>EVP and Chief Claims Officer</em> at <strong>Allstate.</strong> </p><p></p><p>That is why Brandt and other executives will speak at Connected Claims USA Virtual, the largest ever gathering of claims executives, available free to the industry. “<em>This is an opportunity for the entire industry to collaborate, inspire and lead</em>” said Emma Sheard, <em>General Manager</em> of <strong>Insurance Nexus by Reuters Events.</strong></p><p></p><p>Also confirmed to speak are Mike Fiato (<em>Chief Claims Officer</em>, <strong>Liberty Mutual</strong>), Bryant Vernon (<em>Chief Claims Officer</em>, <strong>Aviva Canada),</strong> Jeanette Ward (<em>Chief Operating Officer</em>, <strong>Texas Mutual</strong>), Evan Scarponi (<em>Chief Claims Officer</em>, <strong>Prudential</strong>) and more.</p><p></p><p><a href="https://events.insurancenexus.com/connectedclaimsusa/?utm_source=Media+Partner&utm_medium=Launch+PR+&utm_campaign=5081"><strong>Register for free today</strong></a></p><p></p><p>Connected Claims USA Virtual attendees will form the largest insurance claims community, taking part in a multitude of interactive online sessions, discussing and dissecting the issues at the heart of claims. Attendees will also be afforded a virtual networking suite, digital exhibition, tailored practical workshops and more – you can <a href="https://events.insurancenexus.com/connectedclaimsusa/">find out more and register on our website</a>.</p><p> </p><p>Mariana Dumont</p><p>Head of USA Operations</p><p>Insurance Nexus</p><p>Phone: +44 (0) 207 422 4369</p><p>Toll Free: 1 800 814 3459 Ext: 4369</p><p>Email: <a href="mailto:mariana.dumont@insurancenexus.com">mariana.dumont@insurancenexus.com</a></p><p> </p><p><em>Insurance Nexus is part of FC Business Intelligence Ltd. FC Business Intelligence Ltd is a registered company in England and Wales. Registered number 04388971, 7-9 Fashion Street, London, E1 6PX, UK</em></p><p><em>Insurance Nexus is the central hub for insurance executives. Through in-depth industry analysis, targeted research, niche events and quality content, we provide the industry with a platform to network, discuss, learn and shape the future of the insurance industry.</em></p></div>Enterprise Data Management Components For Emerging Industrieshttps://globalriskcommunity.com/profiles/blogs/enterprise-data-management-components-for-emerging-industries2020-05-19T12:15:46.000Z2020-05-19T12:15:46.000ZKBV Researchhttps://globalriskcommunity.com/members/KBVResearch<div><p>The emerging enterprises of industries have time and again considered <a href="https://www.kbvresearch.com/enterprise-data-management-market/">enterprise data management</a> solutions as a savior in the era of big data. Enterprise data management provides an ability to accurately define, integrate, and retrieve data for internal applications as well as external communication. The technology focuses on the creation of accurate, transparent, as well as consistent content.</p><p></p><p><a href="{{#staticFileLink}}8028316287,original{{/staticFileLink}}" target="_blank"><img src="{{#staticFileLink}}8028316287,original{{/staticFileLink}}" class="align-center" alt="8028316287?profile=original" /></a></p><p></p><p><a href="{{#staticFileLink}}8028316287,original{{/staticFileLink}}" target="_blank"></a></p><p>A successful data management program is cost-efficient because you would have fewer data management challenges, saving you time and money and preventing duplication of information. The data management program keeps the whole company up and running, ensuring that it is up and running. In the past few years, cloud computing, hybrid cloud, artificial intelligence, and machine learning have been at the forefront of data processing conversations. Enterprises are seeking more real-world uses for new technologies and are recognizing that they will offer a strategic edge.</p><p></p><h2><strong>What is enterprise data management?</strong></h2><p>Enterprise data management (EDM) refers to a collection of procedures, strategies, and activities that rely on data integrity, consistency, reliability, availability, and good governance. Data processing involves ensuring that your citizens have the reliable and timely data they need and that they meet the criteria for storing quality data in a consistent, safe, and controlled environment.</p><p></p><p>EDM solutions streamline business processes and draw needed conclusions from data as well. It also formulates business operations strategy which ensures accountability in the overall enterprise system. Enterprise data management smoothes data flow and eliminates processing time for various activities. It adds productivity and quality to enterprise management. By serving as a master data management tool, enterprise data management offers customer data that involves embedding new company data to integrate into organizations’ internal structures.</p><p></p><h2><strong>Why do enterprises need enterprise data management?</strong></h2><p>When the quantity and range of the data increases, it becomes more difficult for businesses to manage enforcement risks. This also forces businesses to do the bare minimum that is expected of them. There are apparent shortcomings in this form of approach to data processing. This is a reactive approach to corporate data management, and while it may allow certain forms of data to be properly handled, it does nothing to make a permanent improvement in the data collection activities of an organization.</p><p></p><p>Data is only useful if it is valid and reliable. Unless it is not tracked, the quality of the data will decline considerably and will cease to be of benefit to the business. One of the greatest errors that businesses make is the inability to focus on how to preserve the accuracy of their records. The lack of a structured maintenance program would result in a reduction in data reliability over time. When company owners are not sure about the accuracy of their results, further measures must be taken before it can be used. This is time-consuming and contributes to an inefficient influx of information in their servers.</p><p></p><h2><strong>Components of enterprise data management</strong></h2><h3><strong>Data integration and migration</strong></h3><p>Data integration consolidates the information of an organization from a number of different outlets to one readily accessible venue. It means that everybody in the organization has access to all the necessary data and can use it anywhere they are. Software incorporation gives you a single view of all the results, so the organization doesn't have blind spots. It also increases the reliability of the data over time.</p><p></p><h3><strong>Master data management</strong></h3><p>Master data management (MDM) is a tool used to describe and control the data of an entity and to establish a common point of reference. This helps your company to reconcile scattered data from different sources and makes it workable. When properly applied, MDM increases the consistency of the data and streamlines it across all divisions. Thus, while data integration focuses on consolidation and making data accessible, MDM combines data from multiple sources and makes it usable.</p><p></p><h3><strong>Data governance</strong></h3><p>Data governance looks at the procedures and mechanisms that an organization uses to manage its records. This points out the data rules of an organization and explains how they are applied. Data management is divided into three different areas. If you want to handle the data correctly and efficiently, you would need to find the best team first. The team will be responsible for handling crucial facets of the company's records, and you need to specifically identify their positions and what is required of them.</p><p></p><h3><strong>Data security</strong></h3><p>Apparently, without data storage, no data management plan is complete. This means that the data is safe not only from malware but also from corruption. Companies are increasingly spending more money on the protection of their records. It is because businesses are more focused on apps to store their data than ever before. Data violations can not be prevented, but accidents can be greatly minimized, both in number and seriousness. One of the easiest ways to prevent security issues in the future is to track and learn from errors as they arise.</p><p></p><h2><strong>Industries that are actively deploying enterprise data management technology:</strong></h2><h3><strong>Banking, financial services, and insurance</strong></h3><p>Today's financial companies are engaged in data — product and service purchasing records, consumer details, financial transfers, advertisement strategies, and more — from numerous smartphone apps and computers. This influx of data offers important resources, but it can also pose problems if such critical data are unreliable and mishandled across various networks as a result.</p><p></p><p>Financial organizations will benefit from the overarching blueprint for the handling of modern and conventional data processing elements in a comprehensive, versatile, streamlined, and scalable manner. A model-driven methodology can ensure continuity in the data processing system in terms of policy, governance, and performance.</p><p></p><h3><strong>Retail and consumer goods</strong></h3><p>Until quite recently, consumer products (CP) companies have been fairly conservative on the use of customer and other data to guide decisions. On the one hand, the large CP companies expanded so rapidly that ambitious data-driven activities hardly seemed necessary. On the other hand, CP businesses lacked the infrastructure and – perhaps as important – the expertise to conduct large-scale data processing programs.</p><p></p><p>Growth in the sector has slowed considerably and new competitors are emerging from all quarters. Leading CP organizations now understand that the efficient use of data can accelerate innovation across a broad variety of activities, from R&D to the supply chain, to distribution and marketing. In addition, technology has evolved to the point that it is possible to integrate data from across the enterprise – essentially, to obtain a holistic view of the enterprise in order to make better decisions more quickly.</p><p></p><h3><strong>Healthcare and life sciences</strong></h3><p>Healthcare is expected to provide the most complex data processing problems in any sector. There are a variety of data points available to capture: conditions, medical records, diagnostics, treatments, and more, through particular cases, and potentially millions of common ideas and principles on how the treatment was provided, billed, and paid for. Unfortunately, the accuracy of such data is often exceedingly low for several human and clinical reasons, along with the additional difficulties raised by various healthcare device providers collecting data in different formats.</p><p></p><p>Both healthcare providers and payers have worked to fully implement best-practice data regulation, but they are hindered by a range of processes, technology, service provision, and other silos. Too much work has been made to find out how to deliver services with siloed electronic systems, it has become difficult to handle decentralized manual development processes in a centralized healthcare network. In comparison, early efforts at regulation of health records were unsuccessful, overly hierarchical, and heavy-handed, top-down methods.</p><p></p><h2><strong>To conclude</strong></h2><p>A well-structured enterprise data management system allows companies to put a variety of roles under one umbrella, including responsibility for setting levels of consistency, data quality, and reliability. That being said, in order to successfully interpret data, companies must instill knowledge in the discipline and develop a better understanding of the factors behind the enterprise data management strategy.</p><p></p><p><strong>Free Valuable Insights:</strong> <a href="https://www.kbvresearch.com/news/enterprise-data-management-market/">Global Enterprise Data Management Market to reach a market size of USD 133.4 billion by 2026</a></p><p></p><p>Enterprise data management will remain a distinctive industry practice for the next few decades. Market competitors will be required to compete with each other on the basis of their data processing techniques after all other competitive advantages are eliminated. The development, growth, and enormous potential of advanced data technology have now made Data Management one of the most powerful market differentiators.</p></div>Realign Insurance Strategy with the Power of Techhttps://globalriskcommunity.com/profiles/blogs/realign-insurance-strategy-with-the-power-of-tech2020-05-11T09:54:31.000Z2020-05-11T09:54:31.000ZInsurance Nexushttps://globalriskcommunity.com/members/InsuranceNexus<div><p><a href="{{#staticFileLink}}8028314476,original{{/staticFileLink}}" target="_blank"><img src="{{#staticFileLink}}8028314476,original{{/staticFileLink}}" class="align-full" alt="8028314476?profile=original" /></a></p><p></p><p>Even before Covid-19 began its global march, the insurance industry was gearing up for profound change. But as the events of 2020 continue to evolve, there is growing sense of urgency for carriers to accelerate delivery of spot-on solutions for their customers.</p><p>To navigate this new era, Reuters Events is launching <a href="https://events.insurancenexus.com/analyticsusa/register.php?utm_source=Global+Risk+Community&utm_medium=Virtual+PR&utm_campaign=5106"><em>Insurance AI and Innovative Tech Virtual</em></a> (May 27-28).</p><p>Across all corners of insurance, longer-term goals now require immediate action, and a strategic push to embrace digitalisation like never before. At this unique gathering of the industry’s most senior figures, innovators and decision makers expect to:</p><ul><li>Outline a roadmap for the future of insurance</li><li>Share the latest strategies on how to drive workable solutions and innovations</li><li>Work towards an environment where all carriers can not only survive, but prosper</li><li>Discover how to build trust and win over the new generation</li></ul><p>Meet decision-makers from across the entire value chain, with 1000+ leaders from technology, innovation, data, analytics and more. Now is the time to join the boldest minds in insurance to create a competitive edge through a unified tech strategy.</p><p> </p><p>Confirmed speakers include:</p><ul><li>Jane Possell, Chief Information Officer, <strong>CNA Insurance</strong></li><li>Greg Tacchetti Chief Information and Strategy Officer, <strong>State Auto</strong></li><li>David T. Vanalek, Claims Chief Operating Officer, <strong>Markel</strong></li><li>Amandah Greiling, SVP and Head of Underwriting Support & Service, <strong>Zurich North America</strong></li><li>John Almasan, AVP, Head of the Actuarial Advanced Analytics, <strong>Nationwide</strong></li></ul><p> </p><p>To stay ahead in this new era for insurance, this is the <a href="https://events.insurancenexus.com/analyticsusa/register.php?utm_source=Global+Risk+Community&utm_medium=Virtual+PR&utm_campaign=5106">one virtual event</a> that executives with a strategic interest in technology, innovation, data and analytics cannot afford to miss!</p><p> </p><p>Virtual attendees of Insurance AI and Innovative Tech Virtual 2020 will become part of North America’s largest insurance community, with over 2000 industry leaders coming together to network, debate and learn from renowned experts. To give attendees control over their own networking, Insurance AI and Innovative Tech Virtual 2020 will also be utilizing the innovative Brella app, allowing attendees to set up online meetings with new contacts and create valuable business networks that can be leveraged in future. Even from a distance, Insurance AI and Innovative Tech will feature more interactivity than ever before; remote polling will gather the audience’s perspectives on pressing issues and attendees will be able to submit their own questions to our expert speakers using the Slido platform. Please find more information on agenda and registration via the website: <a href="https://events.insurancenexus.com/analyticsusa/register.php?utm_source=Global+Risk+Community&utm_medium=Virtual+PR&utm_campaign=5106">https://events.insurancenexus.com/analyticsusa/register.php</a></p><p> </p><p>Insurance Nexus, a Reuters Events Company, is behind <a href="https://events.insurancenexus.com/analyticsusa/register.php?utm_source=Global+Risk+Community&utm_medium=Virtual+PR&utm_campaign=5106"><em>Insurance AI and Innovative Tech Virtual</em></a> (May 27-28).</p><p> </p><p><strong><u>Contact:</u></strong></p><p>Ira Sopic</p><p>Global Project Director</p><p>Insurance Nexus</p><p><strong>T:</strong> + 44 (0) 207 422 4363</p><p><strong>E:</strong> ira.sopic@insurancenexus.com</p><p> </p><p>###</p><p><u> </u></p><p><u>About Insurance Nexus</u></p><p><em>Situated between London's Silicon Roundabout and the City, Insurance Nexus is at the innovative heart of an industry undergoing significant disruption and innovation. Insurance Nexus is the central hub for insurance executives. Through in-depth industry analysis, targeted research, niche events and quality content, the team provides the industry with a platform to network, discuss, learn and shape the future of the insurance industry.</em></p></div>Telecom Analytics And The Emergence Of Big Datahttps://globalriskcommunity.com/profiles/blogs/telecom-analytics-and-the-emergence-of-big-data2020-04-01T11:51:20.000Z2020-04-01T11:51:20.000ZKBV Researchhttps://globalriskcommunity.com/members/KBVResearch<div><p>The rapid growth in the usage of smartphones and other connected mobile devices has caused a spurt in the amount of data that flows through telecom operator networks. The operators must process, store, and extract information from the available data. By helping to optimize network use and services, improve customer experience, and improve security, Big Data analytics will help them increase productivity.</p><p></p><p><a href="{{#staticFileLink}}8028314056,original{{/staticFileLink}}" target="_blank"><img src="{{#staticFileLink}}8028314056,original{{/staticFileLink}}" class="align-center" alt="8028314056?profile=original" /></a></p><p></p><p>Research has shown that telecom companies have significant potential to benefit from Big Data analytics. However, Big Data's potential presents a challenge as to how does a company leverage data to raise revenues and income around the value chain, covering network operations, product creation, marketing, distribution, and customer support.</p><h2><strong>What is telecom analytics?</strong></h2><p><a href="https://www.kbvresearch.com/telecom-analytics-market/">Telecom analytics</a> is a form of explicitly applied and packaged business intelligence to meet the diverse needs of telecommunications organizations. The goal of telecom analytics is to lower operating costs and increase revenues by increasing revenue, reducing fraud and enhancing risk management. Telecom analytics solutions typically go far beyond what traditional business intelligence tools provide for monitoring and reporting, and can include sophisticated multidimensional analysis and forecasting.</p><p></p><h2><strong>Telecom analytics has a diverse range of applications:</strong></h2><h3><strong>Network management</strong></h3><p>The reliability of the network remains a vital aspect of performance for communications service providers. Downtime seconds can lead to millions of missed sales, increases in customer service calls and the need for fast diagnosis and remediation. IT workers need to have a network management system to navigate with so many unknowns.</p><p>When increasing amounts of rich content are being transmitted between devices, applications, and users, capacity demands on service providers have continued to increase in size and scope. Driven by convergence, M2M and the Internet of Things (IoT), both the complexity of distributed networks and the traffic rates continue to increase. Network providers provide some of the biggest, most diverse networks, serving geographically scattered facilities-from core to connection, head-end to outdoor facility, wired to wireless, and satellite. IT and network staff must provide remote access to these essential business infrastructures under all circumstances.</p><p></p><h3><strong>Customer management</strong></h3><p>The telecom industry is undergoing an explosion of competition and a period of hyper consumerization. The most immediate impact was a rise in consumer turnover. As a result, telecom companies are spending more on customer acquisition and maintenance. Nonetheless, the price point of delivering services to those consumers has remained the same, resulting in declining revenues. It's a tricky situation because consumer demand for multi-play services — such as broadband, cable TV, IP TV, mobile wallets, data, and content — can potentially improve sales if consumers can be kept.</p><p>The solution to both problems, consumer retention and improved Average User Revenue (ARPU), is the same: delivering outstanding Customer Experience (CX). Although in the last decade or so the industry has had a positive "customer first" management approach, customer expectations and perceptions are rapidly evolving. Operators need to take major technical steps to keep pace. Thankfully, the incentives to develop CX have also expanded with the rise in touchpoints.</p><p></p><h3><strong>Workforce management</strong></h3><p>Telecom workforce management is transforming as the so-called "gig economy" begins to enter the market. When operators focus more on raising their costs of building network infrastructure, an increasingly "hybrid" contract labor force and full-time workers are emerging. More and more telecommunications companies are taking a much more aggressive mixed workforce approach to have small-cell technology research done in the field and also within the conventional telecom sector work that involves boots on the ground.</p><p>Despite more emphasis on small cell installations and revenues that do not keep up with the mobile data traffic boom, operators are looking to cut labor costs. Technologies related to delivery are also keeping pace. Test vendors, for example, have spent the last few years introducing onto the market more instruments that have integrated capabilities and are often built for ease of use so that field techs can do some of the research that engineers used to do.</p><p></p><h2><strong>Role of big data in telecom analytics</strong></h2><h3><strong>Improving customer experience</strong></h3><p>The key use case for Big Data and telecom predictive analytics is optimizing customer service. For example, telecommunications marketing departments use clustering and unsupervised machine learning to segment the audience and then target individual clients.</p><p>Developing a library of more than 50 offers and then setting up a system to easily launch and evaluate relevant initiatives, telecommunications will minimize churn by 10–15 percent over the next 18 months. Telecom contact centers can also use predictive analytics based on customer records, technical reports, internal articles of expertise, service tickets and expert advice to speed up call resolution and enhance the customer experience.</p><p></p><h3><strong>Reducing fraud</strong></h3><p>Telecom fraud is a major reason why the telecom industry lost its income. For example, the annual cost of telecommunications subscription fraud is projected to reach $12B, although others expect that it would be between 3 and 10 percent of the gross revenues of the operators. Telecoms use fraud detection systems based on data mining algorithms to identify fraudulent customers and suspicious activity in near real-time to tackle this issue.</p><p>International revenue share fraud (IRSF) is another extremely harmful fraud in the telecoms market. For instance, according to the Communications Fraud Control Association (CFCA), the telecommunications industry has lost about $4B to fraud involving foreign revenue shares (IRSF). IRSF is triggered by artificial traffic inflation or traffic pumping up to the world's premium-rate levels. The fraud is conducted by traffic-generating hackers or fraudsters and PRN (Premium Rate Number) aggregators who acquire a list of fraudulent premium-rate numbers.</p><p></p><h3><strong>Network operations monitoring and management</strong></h3><p>One of the strategic use cases for mobile network operators (MNOs) is the monitoring and management of network operations. M According to Thractica research, monitoring, and management of network operations is expected to account for 61 percent of AI spending in the sector between 2016 and 2025. And it is only rational because predictive analytics helps to forecast traffic flows and routing peak times, and thus helps to ensure the smooth operation of networks.</p><p>Telecoms, for example, can predict the phases of the heaviest usage of the network arising from video sharing and reduce congestion at those times. As a result, telecommunications will reduce their expected capital investment by 15 percent. It also helps to forecast weather effects on the environment (for example, AT&T has developed a special method for assessing climate change). What's more, it goes a long way to directing workflows, managing technician distribution and delivering real-time network alerts.</p><p></p><h2><strong>The future of telecom analytics is with big data</strong></h2><p>Since a telecom company has to keep up with new technological breakthroughs, stay ahead in one of the most competitive industries in the world, and adhere to a slew of regulations, the function of telecom data analytics is to provide businesses with the easiest way to extract insights from all of their data. Using a solution for telecom data analytics that can help a company obtain deeper insights would produce more revenues.</p><p></p><p>Every department generates tons of data at a telecommunications and media service provider. Other departments can gain insights into the data from each other without a centralized data analysis. In addition, the data would sometimes vary from those of other departments without a centralized solution, contributing to uncertainty and even frustration.</p><p></p><p><strong>Free Valuable Insights:</strong> <a href="https://www.kbvresearch.com/news/telecom-analytics-market/">Global Telecom Analytics Market to reach a market size of USD 8.7 billion by 2025</a></p><p></p><p>All the data departments merge into one unified structure with a centralized data analytics solution. Every department has to provide its insight into the data gleaned, offering a different viewpoint that will lead to a quicker solution. All the departments can benefit from each other, improve performance and increase profitability.</p></div>The 10 Best Practices in Business Dashboard Designhttps://globalriskcommunity.com/profiles/blogs/the-10-best-practices-in-business-dashboard-design2020-03-19T18:46:06.000Z2020-03-19T18:46:06.000ZMark Bridgeshttps://globalriskcommunity.com/members/MarkBridges<div><p> </p><p><strong><a href="https://flevy.com/browse/flevypro/business-dashboard-design-4107">Business dashboards</a></strong> are important tools to measure key performance indicators and data pertaining to an organization or certain procedure. Just as a vehicle dashboard is powerful <a href="https://flevy.com/browse/stream/performance-management">performance management</a> tool in summarizing a performance of a multitude of processes, a business dashboard summarizes the performance or impact of a host of functions, teams, and activities; and assists in Strategic Planning and decision making.</p><p>Business dashboards simplify sharing and analysis of large data, and help users visualize complex performance data in simple yet visually aesthetic manner. Dashboards aid in simplifying complex processes into smaller more manageable information pieces for the organizational leadership to focus on everyday operations. They keep everyone on the same wavelength and prioritize display of facts based on their importance and potential impact. The information on a well-designed dashboard is clear, presentable to enhance meaning, readily accessible, and dynamic. A carefully-planned dashboard allows the leadership to identify and answer business challenges in real-time, develop plan of action based on insights, and inculcate innovation.</p><p>Proficient and capable dashboard designers and firms have taken the art of visualization of valuable indicators and insights through dashboards to the next level. They have devised specific guiding principles, dos and don’ts, and time-tested development routines to accomplish this. These guiding principles comprise 10 best practices, which can be segregated into 3 major implementation categories:</p><ol><li><h3><strong>Planning</strong></h3></li></ol><ul><li><strong>Analyze your audience</strong></li><li><strong>Contemplate display options</strong></li><li><strong>Prompt application loading time</strong></li></ul><ol start="2"><li><h3><strong>Design</strong></h3></li></ol><ul><li><strong>Exploit eye-scanning patterns</strong></li><li><strong>Restrict number of views & colors</strong></li><li><strong>Let viewers filter data</strong></li><li><strong>Ensure proper formatting </strong></li></ul><ol start="3"><li><h3><strong>Refinement</strong></h3></li></ol><ul><li><strong>Use Tooltips to reinforce story</strong></li><li><strong>Eliminate redundancy </strong></li><li><strong>Review the dashboard carefully</strong></li></ul><p><a href="https://flevy.com/browse/flevypro/business-dashboard-design-4107"><img class="aligncenter size-full wp-image-6516" src="http://flevy.com/blog/wp-content/uploads/2020/03/Business-Dashboard-Design.png" alt="" width="902" height="677" /></a></p><p>Let's discuss the first 5 best practices for now.</p><h3><strong>Analyze your audience</strong></h3><p>A careful analysis and understanding of the business dashboard’s intended audience is the first important principle to consider before commencing the development of such a dashboard. For instance, a busy salesperson in need of quickly going through indicators, whereas senior management needing a deep-down review of quarterly sales results. This gives the developers a thorough idea of what the audience wants from a dashboard, what data they will visualize utilizing this, and let them know the audience’s technical capabilities in terms of data analysis, theme, issue, and business understanding.</p><h3><strong>Contemplate display options</strong></h3><p>The second principle to follow in designing a business dashboard is to research your users’ device and display preferences beforehand. Building a dashboard with desktop display options in mind when your audience prefers to use phones to view it could be a disaster. The designers should set the size of the dashboard properly—allowing the users to view it on a range of devices, by building in automatic sizing option for the dashboard to adopt to the dimensions of the browser window.</p><h3><strong>Prompt application loading time</strong></h3><p>Your audience and viewers are busy people who hate long waits. Therefore a stunningly designed dashboard would not get the right traction if it takes too much time to load. The dashboard author should facilitate prompt dashboard loading by deciding which filters to add in the dashboard and which ones to exclude. For instance, although filtering is useful in restricting the amount of data analyzed, it effects query performance. Some filters are quite slower than others as they load all of the data for a dimension instead of just what you want to keep. Knowing the Order of Operations is also beneficial in reducing the load times.</p><h3><strong>Exploit eye-scanning patterns</strong></h3><p>The dashboard authors should have a deep sense of the main purpose of the dashboard in mind when develop such a tool. They need to be aware of individuals’ eye tracking patterns—typically when most people look at a screen or content, they start scanning the upper left hand corner of the screen first by intuition—and make the best use of the screen space to display the most important content at the right place.</p><h3><strong>Restrict number of views & colors</strong></h3><p>The designers often get over enthusiastic during their application designs and try to stuff the dashboard with multiple relevant views. This is detrimental for the bigger picture. They must include not more than 2 to 3 views per dashboard and create more dashboards in case the scope creeps beyond the 2-3 views range. It is also crucial to ensure the content to be clearly visible to the viewer and to use colors correctly to facilitate analysis instead of cramming too many colors in the visuals, which creates a graphical overload for the viewers, slacken analysis (or may even prevent users to analyze data), and even blur the graphics.</p><h3><strong>Let viewers filter data</strong></h3><p>Allowing users to filter the data is another best practice to keep in mind while designing business dashboards. This added interactivity encourages data assessment and permits the users to have their most important view act as a filter for the other views in the dashboard. This helps in conducting side-by-side analysis, promotes involvement, and retains users’ interest.</p><p>Interested in learning more about the other best practices to aid in designing a robust business dashboard and knowing the most common mistakes to avoid in this process? You can download <a href="https://flevy.com/browse/flevypro/business-dashboard-design-4107"><u>an editable PowerPoint on <strong>Business Dashboard Design</strong> here</u></a> on the <a href="https://flevy.com/browse">Flevy documents marketplace</a>.</p><h3><strong>Are you a Management Consultant?</strong></h3><p>You can download this and hundreds of other <a href="http://flevy.com/pro/library/frameworks">consulting frameworks</a> and <a href="http://flevy.com/pro/library/consulting">consulting training guides</a> from the <a href="http://flevy.com/pro/library">FlevyPro library</a>.</p><p> </p></div>What is Synthetic Identity Theft?https://globalriskcommunity.com/profiles/blogs/what-is-synthetic-identity-theft2020-02-20T16:48:12.000Z2020-02-20T16:48:12.000ZRobert Sicilianohttps://globalriskcommunity.com/members/RobertSiciliano<div><p>Identity theft is when a person steals another person’s private and personal information, generally to make money from it. You probably already knew this, but have you heard of synthetic identity theft? This is a bit different.</p><p><img class="img-right align-right" src="https://activerain.com/image_store/uploads/agents/robertsiciliano/files/14D_new.jpg" width="300" height="200" alt="14D_new.jpg" />With synthetic identity theft, a person creates a new and very fake identity by combining the real information from a person with made-up information. You might not think this is a big deal, but it can be very bad for anyone who has their identity stolen.</p><p>Here are three ways that ID thieves can create synthetic identities:</p><p><strong>Creating a New Credit Profile</strong></p><p>The most common way to create a synthetic identity is to create a new credit profile using the victims SSN but a different name. Basically, they apply for credit using these fake identities. Generally, the application will be denied, but in the process, it creates a credit profile. Then, they can apply to companies that cater to people with poor or no credit. Though the card limits are typically small, less than $500, it still gives them money.</p><p><strong>The Piggyback</strong></p><p>Another thing that people do to create a synthetic identity is the piggyback. Basically, they look for people who have good credit, and then add a fake person as an authorized user to the account. They do not use the account, however. Instead, they let it sit for a few months. The credit agencies create a report of the synthetic identity, who now has an excellent credit rating and can get high limit credit cards.</p><p><strong>Data Furnishing</strong></p><p>The third tactic is called data furnishing. This is quite effective and sophisticated and requires the participation of someone from some type of business. Basically, they need a small business owner or manager who is willing to help with this fraud. The company is already vetted and is then approved to offer information on customers. They allow fake IDs, or synthetic identities, for malicious duties. This generally takes several months to set up, but the thieves can make a ton of money.</p><p>Right now, it’s hard to really pinpoint the financial impact of what these synthetic identities have, though it is believed that it has caused billions in losses. That means, however, for an ID thief, there are billions to be made. Fortunately, there are some things you can do to protect yourself including being very careful about the information you are sharing, especially on social media. Also, make sure you have a credit freeze and identity theft protection and that you are regularly checking your credit report.</p><p>ROBERT SICILIANO CSP, is a #1 Best Selling Amazon author, CEO of<span> </span><a href="https://creditparent.com/" target="_blank">CreditParent.com</a>, the architect of the<span> </span><a href="https://protectnowllc.com/" target="_blank">CSI Protection</a><span> </span>certification; a Cyber Social and Identity Protection<span> </span><a href="https://safr.me/actnow/" target="_blank">security awareness training</a><span> </span>program.</p></div>Deliver Empathy at Scale with Liberty Mutual, Farmers Insurance, AAA and LexisNexis Risk Solutionshttps://globalriskcommunity.com/profiles/blogs/deliver-empathy-at-scale-with-liberty-mutual-farmers-insurance2020-02-03T14:46:34.000Z2020-02-03T14:46:34.000ZInsurance Nexushttps://globalriskcommunity.com/members/InsuranceNexus<div><p><a href="{{#staticFileLink}}8028311287,original{{/staticFileLink}}" target="_blank"><img src="{{#staticFileLink}}8028311287,original{{/staticFileLink}}" class="align-full" alt="8028311287?profile=original" /></a></p><p></p><p>For insurance carriers, automation can be a dangerous game as customers demand both a frictionless, automated claims process and access to understanding claims handlers. How do you find the right balance?</p><p></p><p>With chatbots at FNOL, image analytics estimating damage more accurately than any human, and complex claims being fast-tracked to claims adjusters, virtual claims handling delivers the efficiency that customers expect with the empathy customers need. Join our panel of experts as they share insights into how to leverage virtual claims to deliver empathy at scale.</p><p></p><p>To explore the strategies and tools that enable insurers to deliver empathy at scale despite increased automation, Reuters Events is bringing together a panel of senior claims executives; Mike Fiato (Chief Claims Officer, <strong>Liberty Mutual</strong>), Samantha Santiago (Head of Claims Strategy & Automation<strong>, Farmers Insurance</strong>), Lori Pon <em>(Director of Claims Transformation and Claim Service Center</em><strong>, AAA</strong>) and Bill Brower (<em>Vice President – Auto Claims</em><strong>, LexisNexis Risk Solutions</strong>) as well as our moderator Alan Demers (<em>President-Founder</em>, <strong>InsurTech Consulting</strong>) for a live webinar, <strong>‘Deliver Empathy at Scale - Virtual Claims Handling as the Future of Efficient, Customer-Centric Claims’ on February 13<sup>th</sup> at 11:00AM ET</strong>.</p><p></p><p><a href="https://attendee.gotowebinar.com/register/688464008046216203?source=Media+Partner+Global+Risk+Community"><strong>Register for this webinar here</strong></a></p><p></p><p>Registrants to this webinar, sponsored by LexisNexis Risk Solutions, can expect to explore the following:</p><p></p><ul><li><strong>Give the customer more than they expect!</strong> Boost NPS while reducing cycle times by automating routine processes to offer a seamless customer experience that gives the customer the power of choice</li></ul><p></p><ul><li><strong>Quick Wins with Quick Estimates</strong>: Integrate image analytics AI and automated documentation for increased accuracy and estimation speed to see reduced loss adjustment costs</li></ul><p></p><ul><li><strong>Create a Superior Employee Experience:</strong> Reallocate your claims teams to focus on complex claims to maximize human efficiencies and provide true job satisfaction</li></ul><p></p><ul><li><strong>Be there 24/7</strong>: Deploy AI and Chatbots to handle routine claims 24 hours a day to be there for customers at any time they need you</li></ul><p></p><p><a href="https://attendee.gotowebinar.com/register/688464008046216203?source=Media+Partner+Global+Risk+Community"><strong>Register for this webinar here</strong></a></p><p></p><p>This webinar is being run in conjunction with the upcoming Fourth Annual <a href="https://events.insurancenexus.com/connectedclaimsusa/?utm_source=Media+Partners&utm_medium=WB2+PR&utm_campaign=5081">Connected Claims USA Summit</a>, taking place June 24<sup>th</sup>–25<sup>th</sup>, at <a href="https://events.insurancenexus.com/connectedclaimsusa/conference-venue.php">McCormick Place</a>. Welcoming over 1200 senior attendee, Connected Claims USA is the world’s largest gathering for claims executives striving for efficient, customer-centric claims processing. More information can be found on the website at <a href="https://events.insurancenexus.com/connectedclaimsusa/?utm_source=Media+Partners&utm_medium=WB2+PR&utm_campaign=5081">https://events.insurancenexus.com/connectedclaimsusa/</a></p><p></p><p>Mariana Dumont</p><p>Head of USA Operations</p><p>Insurance Nexus by Reuters Events</p><p>Phone: +44 (0) 207 422 4369</p><p>Toll Free: 1 800 814 3459 Ext: 4369</p><p>Email: <a href="mailto:mariana.dumont@insurancenexus.com">mariana.dumont@insurancenexus.com</a></p><p> </p><p><em>Insurance Nexus by Reuters Events is part of FC Business Intelligence Ltd. FC Business Intelligence Ltd is a registered company in England and Wales. Registered number 04388971, 7-9 Fashion Street, London, E1 6PX, UK</em></p><p></p><p><em>Insurance Nexus by Reuters Events is the central hub for insurance executives. Through in-depth industry analysis, targeted research, niche events and quality content, we provide the industry with a platform to network, discuss, learn and shape the future of the insurance industry.</em></p></div>Failure is Not an Option: Realize the Potential of Data Science From Swiss Re, AmFam, and Blue Cross and Blue Shieldhttps://globalriskcommunity.com/profiles/blogs/failure-is-not-an-option-realize-the-potential-of-data-science2020-01-28T13:39:42.000Z2020-01-28T13:39:42.000ZInsurance Nexushttps://globalriskcommunity.com/members/InsuranceNexus<div><p><span> <a href="{{#staticFileLink}}8028306886,original{{/staticFileLink}}" target="_blank"><img src="{{#staticFileLink}}8028306886,original{{/staticFileLink}}" class="align-full" alt="8028306886?profile=original" /></a></span></p><p></p><p><span>With 90% of carriers actively investing in new data projects, project failure is not an option.</span></p><p><span> </span></p><p><span>Artificial intelligence (AI) and machine learning (ML) have become mainstays in the insurance industry, equipping insurance companies with tools that can help them to become more efficient and profitable than ever before. But with the stakes so high, carrier executives are immobilized - the volume of cutting-edge data sources has exploded and the vast majority won’t implement a project if they’re not sure of its success.</span></p><p><span> </span></p><p><span>On (date),</span> Insurance Nexus will <span>host a webinar with</span> Vineet Bansal, <em>SVP, Chief Technology Officer</em>, <strong>Swiss Re</strong><strong><span>;</span></strong> Mingju Sun, <em>Director of Data Science Engineering</em><strong>, AmFam</strong><strong><span>;</span></strong> <span>and</span> Michael Y. Xiao, <em>Divisional VP Enterprise Data Science</em>, <strong>Blue Cross and Blue Shield</strong><strong><span>.</span></strong> <span>This webinar will highlight the relationship between data science and successful project management, helping insurance companies to identify areas for growth and enhanced efficiency.</span></p><p><span> </span></p><p><span><a href="https://attendee.gotowebinar.com/register/7262240620824196107?source=Media+Partner+Global+Risk+Community"><strong>Sign up for this webinar to get actionable insight to develop strategy for your organization. You’ll learn how to:</strong></a></span></p><p><span> </span></p><ul><li><strong>Unlock the power of data science to ensure long-term project success:</strong> Learn how to identify the key steps to success for data science projects in a world of regular failure<span>. B</span>uild the right strategy and ensure data science projects result in successful production and implementation.</li></ul><p> </p><ul><li><strong>Embed AI across the enterprise and beyond models to impact:</strong> Discover how to build an effective and agile data ecosystem to support AI and advanced analytics application across business objectives<span>. F</span>oster coalitions across the enterprise to ensure the success of AI.</li></ul><p><span> </span></p><ul><li><strong>Deploy predictive analytics to gain a strategic advantage:</strong> Go beyond predictive analytics<span>. Us</span>e more accurate models to optimize pricing in real-time, at the point of sale and achieve a competitive advantage<span>.</span></li></ul><p><span> </span></p><ul><li><strong><span>Apply emerging technology to the insurance industry:</span></strong> <span>Identify current and future technological trends. See how new technology can help you achieve ROI and improve existing processes.</span></li></ul><p><span> </span></p><p><span>Don’t miss out on the ultimate opportunity to incorporate data science, artificial intelligence and machine learning into your everyday business capabilities -- sign up for the webinar today. You’ll receive a free recording of the webinar, even if you can’t attend.</span></p><p><span> </span></p><p><span>This webinar is being run in association with the upcoming <a href="https://events.insurancenexus.com/analyticsusa/?utm_source=Media+Partners&utm_medium=WB2+PR&utm_campaign=5106">Insurance AI and Innovative Tech USA Summit 2020</a>, an event by Insurance Nexus, a Reuters Events Company. Expecting more than 500 attendees from across the North American insurance ecosystem, the Insurance AI and Innovative Tech USA Summit brings senior innovation and business unit executives to uncover the rewards of embedding technologies such as AI, IoT, blockchain and automation to create valuable, relevant insurance products and services and seamless experiences through the power of tech-enhanced operations. For more information, please visit the website or get in touch with a member of the Insurance Nexus team.</span></p><p></p><p><strong><u><span>Contact:</span></u></strong></p><p><span>Ira Sopic</span></p><p><span>Project Director</span></p><p><span>Insurance Nexus</span></p><p><strong><span>T:</span></strong> <span>+ 44 (0) 207 422 4363</span></p><p><strong><span>T:</span></strong> <span>+1 800 814 3459 ext 4363</span></p><p><strong><span>E:</span></strong> <span>ira.sopic@insurancenexus.com</span></p><p><span> </span></p><p><span>###</span></p><p><u><span> </span></u></p><p><u><span>About Insurance Nexus</span></u></p><p><em><span>Situated between London's Silicon Roundabout and the City, Insurance Nexus is at the innovative heart of an industry undergoing significant disruption and innovation. Insurance Nexus is the central hub for insurance executives. Through in-depth industry analysis, targeted research, niche events and quality content, the team provides the industry with a platform to network, discuss, learn and shape the future of the insurance industry.</span></em></p></div>Strategic Key Performance Indicators (KPIs) Primer: Introduction to The KPI Virtuous Cyclehttps://globalriskcommunity.com/profiles/blogs/strategic-key-performance-indicators-kpis-primer-introduction-to2020-01-25T10:51:23.000Z2020-01-25T10:51:23.000ZMark Bridgeshttps://globalriskcommunity.com/members/MarkBridges<div><p><a href="{{#staticFileLink}}8028306092,original{{/staticFileLink}}" target="_blank"><img class="align-right" src="{{#staticFileLink}}8028306092,original{{/staticFileLink}}" alt="8028306092?profile=original" width="595" height="440" /></a></p><p>Technological innovation and intensifying competition are forcing leaders to rethink how they use Key Performance Indicators (KPIs) to manage and direct organizations. Digitization has reinforced the importance of Key Performance Indicators not only in enhancing employee performance but driving the overall organizational productivity.</p><p>The role of KPIs is becoming more dynamic. KPIs are getting demonstrably flexible, smarter, and valuable in achieving strategic advantage. Leading technology-driven organizations—including Amazon, Airbnb, and Uber—rely on metrics considerably and utilize KPIs to steer their strategy and evaluate success. They perceive KPIs quite differently than traditional-focused organizations, and employ them as an input for automation, and to guide, regulate, and improve their machine learning tools.</p><p>To make the most out of these dynamic and <a href="https://flevy.com/browse/flevypro/strategic-key-performance-indicators-kpis-4031">strategic KPIs</a> of this Digital Age, leaders need to be more insightful and knowledgeable. They should be able to thoroughly determine which KPIs to analyze, how to measure them, and how to effectively improve them. Understanding the value of selected KPIs and their optimization is key to aligning strategies; making the right decision to invest in data, analytics, and automation capabilities; and create a link between people and machines.</p><h3><strong>KPI Virtuous Cycle</strong></h3><p>The relationships and dependencies that clarify, educate, and enhance KPI investment are demonstrated by “<a href="https://flevy.com/browse/flevypro/strategic-key-performance-indicators-kpis-4031">KPI Virtuous Cycle</a>.” By digitally linking KPIs, data, and decision-making into virtuous cycles, companies can align their immediate situational requirements with long-term strategic planning. The KPI Virtuous Cycle has 3 key components, and it demands active cross-functional collaboration:</p><ol><li><strong>Data Governance</strong></li><li><strong>KPIs</strong></li><li><strong>Decision Rights</strong></li></ol><p><a href="https://flevy.com/browse/flevypro/strategic-key-performance-indicators-kpis-4031"><img class="aligncenter size-full wp-image-6238" src="http://flevy.com/blog/wp-content/uploads/2020/01/Strategic-KPIs.png" alt="" width="1200" height="1079" /></a></p><p>The way these 3 components impact—and support each other—keeps changing. Organizations aspiring to become digital-savvy should embrace, value, and relentlessly invest in the KPI Virtuous Cycle.</p><h3><strong>Data Governance</strong></h3><p>The first component of the KPI Virtuous Cycle is about employing authority and control (planning, monitoring, and enforcement) through a set of practices and processes to manage organizational data assets. Leading digital organizations consider data as a strategic resource, a valuable tool for measurement and accountability, and a mechanism to facilitate meeting strategic KPIs. Data Governance frameworks are guided by strategic KPIs. Organizations should know what data sets would be ideal to predict and rank—for instance, customers’ lifetime value and their propensity to leave—to prioritize preemptive and preventive action. Data and Analytics serve as a component of Data Governance.</p><h3><strong>Strategic KPIs</strong></h3><p>Strategic KPIs shape and govern enterprise Data Governance models. These KPIs include financial, customer, supplier, channel, and partner performance parameters. For instance, Data Governance initiatives in customer-centric organizations are prioritized to facilitate in realizing customer-focused KPIs—e.g., <a href="https://flevy.com/browse/business-document/the-net-promoter-score-nps-3140">Net Promoter Score (NPS)</a> and <a href="https://flevy.com/browse/flevypro/marketing-automation-customer-lifetime-value-3008">Customer Lifetime Value (CLV)</a>. Enterprise Data Governance frameworks are strongly influenced and informed by strategic KPIs.</p><h3><strong>Decision Rights</strong></h3><p>Decision Rights ascertain the decision-making authority required to drive the business and strategic alignment. Making decisions in such a way that it boosts organizational performance involves identifying the individuals explicitly involved in making decisions, charting an outline on how decisions will be made, reinforcing with appropriate processes and tools, and defining various decision rights scenarios to facilitate in automation. It is, however, quite tricky to determine and assign decision rights when an enterprise is aspiring to empower its people and making machines function better.</p><h3><strong>Imperatives for Creating Dynamic and Strategic KPIs</strong></h3><p>For the KPIs to be strategically defined and become truly dynamic, the leadership needs to provide the required support by getting thorough data sets compiled and meaningful analytics performed. At the same time, there is a need to:</p><ul><li>Decide whether the decision rights needs to be assigned to individuals (rather than machines or vice versa.</li><li>Enhance the capabilities of people and machines.</li><li>Apply decision rights to generate data to identify and gauge productivity.</li><li>Identify the delays and bottlenecks between KPIs, data, and decisions.</li><li>Verify the diligence in the way KPIs, data, and decisions are mapped and monitored.</li></ul><p>Interested in learning more about the components of <a href="https://flevy.com/browse/flevypro/strategic-key-performance-indicators-kpis-4031">KPI Virtuous Cycle, its applications, and Strategic KPIs</a>? You can download <a href="https://flevy.com/browse/flevypro/strategic-key-performance-indicators-kpis-4031"><u>an editable PowerPoint on <strong>Strategic Key Performance Indicators (KPIs)</strong> here</u></a> on the <a href="https://flevy.com/browse">Flevy documents marketplace</a>.</p><h3><strong>Are you a Management Consultant?</strong></h3><p>You can download this and hundreds of other <a href="http://flevy.com/pro/library/frameworks">consulting frameworks</a> and <a href="http://flevy.com/pro/library/consulting">consulting training guides</a> from the <a href="http://flevy.com/pro/library">FlevyPro library</a>.</p></div>How To Drive the AI Value Proposition in Insurance with Cutting-Edge Analytics and Innovationhttps://globalriskcommunity.com/profiles/blogs/how-to-drive-the-ai-value-proposition-in-insurance-with-cutting2020-01-20T12:15:29.000Z2020-01-20T12:15:29.000ZInsurance Nexushttps://globalriskcommunity.com/members/InsuranceNexus<div><p><a href="{{#staticFileLink}}8028309489,original{{/staticFileLink}}" target="_blank"><img src="{{#staticFileLink}}8028309489,original{{/staticFileLink}}" class="align-full" alt="8028309489?profile=original" /></a></p><p></p><p>The insurance industry is facing the challenges of disruption caused by the technological advancements in artificial intelligence (AI) and machine learning (ML). Insurance carriers are now able to know more about their customers than ever before. They can use data mining with AI and ML to develop compelling product offerings. Customers may enjoy a more personalized experience that has faster and more accurate claims processing capabilities resulting in vastly improved customer service.</p><p> </p><p>Is your organization prepared to benefit from this technological trend that will ultimately determine its competitive advantage and, therefore, lead to a greater market share? Or, will your company be left behind as these disruptive technologies are embraced by your competition?</p><p> </p><p>The salient points from the debates held during the Sixth Annual Insurance Nexus AI and Analytics USA Summit in 2019 have been compiled into a whitepaper, giving you the opportunity to learn more on this business critical area. One hot topic that was up for debate was the need to effectively manage a rapidly-changing insurance business, while at the same time maintaining corporate integrity. Innovations in AI and ML fundamentally challenge this process.</p><p> </p><p>Three industry experts weighed in with their thoughts about how innovations in AI and ML are being applied to the insurance sector. These innovations will disrupt the industry with a major transformation of insurance carriers’ operations in the near term and over the next decades. The experts included: 1) Glenn Fung, Chief Research Scientist, AI & Machine Learning Research Director, American Family Insurance; 2) Lee Ng, Vice President for Innovation, Travelers, and; 3) Ted Stucky, Managing Director, QBE Ventures.</p><p> </p><p><strong><a href="https://eloqua.insurancenexus.com/LP=26440?extsource=media_partner_global_risk_community_wp2">Ac</a><a href="https://eloqua.insurancenexus.com/LP=26440?extsource=media_partner_global_risk_community_wp2">cess the full white paper here</a> </strong></p><p></p><p>Calling on external experts to come in, to help an organization, is a way to more rapidly benefit from the necessary advanced skills that would take considerable time to acquire internally. Nevertheless, maintaining proprietary insurance expertise provides a critical portion of an insurance carrier’s competency and competitive advantage.</p><p> </p><p>Glenn Fung, Chief Research Scientist, AI & Machine Learning Research Director, American Family Insurance, explains “A lot of the focus on getting transformation [happening] was leaning to people outside [the company] to integrate venture capital and innovation, AI and ML. My team was 95% external people. But, as a whole, in terms of digital transformation, we value internal expertise”.</p><p> </p><p>The best-case scenarios for the rapid deployment of innovative AI systems combine significant external support with internal expertise. Insurance carriers need to embrace the sector changes and AI innovations because this will be the determining factor in competitive success going forward. At the same time, there is the recognition of the overwhelming influence of legacy systems and the natural resistance to trying anything new in ways that were never done before.</p><p> </p><p>It is important to make the distinction between risks and uncertainty. Risks which are known, produce a specific unwanted outcome. Strategic planning may mitigate some of these risks. Risks, which are unknown, are more accurately described as uncertainty. With uncertainty, the outcome is not possible to determine. Lee Ng, Vice President for Innovation at Travelers, says: “No amount of thinking and research is going to eliminate that uncertainty”.</p><p><strong> </strong></p><p><strong><a href="https://eloqua.insurancenexus.com/LP=26440?extsource=media_partner_global_risk_community_wp2">Access the full white paper here</a></strong></p><p> </p><p>Traditionally, important decisions are made by understanding the data and then analyzing it, in light of the macro trends. For known risks, fact-based decision-making may be sufficient as long as the risk is truly known. With the uncertainty that comes from innovation, relying on a fact-based decision-making process is not sufficient.</p><p> </p><p>This is like tying a rowboat to a dock, getting in the boat, and then rowing like crazy. The boat is safe, the risks are known; however, you will not go anywhere. Innovation is embracing the uncertainty of rowing out to sea, not knowing exactly what will happen. Lee Ng says “When you’re dealing with uncertainty, don’t overdo it on analysis”.</p><p> </p><p>One of the greatest challenges is to make adjustments as part of an ongoing process. In some cases, these adjustments may be counter-intuitive. AI processes may uncover new patterns, which are not expected. Innovation is not linear. It does not follow a neatly organized step-by-step plan. A linear approach does not allow for unexpected discoveries and discovery is what AI and ML are all about.</p><p> </p><p><strong><a href="https://eloqua.insurancenexus.com/LP=26440?extsource=media_partner_global_risk_community_wp2">Access the full white paper here</a></strong></p><p> </p><p>Insurance carriers should consider business development with three perspectives, these include; taking care of the fundamental operational needs, enhancing return on investment (ROI) by exploiting ROI-driven initiatives, and the overall impacts of disruption.</p><p> </p><p>Carriers’ operations are improving because the systems are getting better and more efficient. This does not mean that every technology innovation and implementation will be perfect. In fact, demand is driving things to rapidly come to market leaving insufficient time to hold back new systems deployment until everything is perfect. Software development that used to take months, or even years, now benefits from cloud service offerings that allow the deployment of some innovations within weeks.</p><p> </p><p>Ted Stucky, Managing Director, QBE Ventures, QBE, tells how one of his projects was to upgrade medical form information capture that used optical character recognition (OCR) with an AI system to increase claims processing speed. Stucky says, “We wanted to see how quickly we could get it to market. From the initial conversation to the time that it was operationally deployed, it was seven weeks”.</p><p> </p><p>As long as the systems are integrated properly, the technological elements are not at issue. The problems come from the people involved in the business use and their resistance or enthusiasm for using the technology. An important factor to understand is how people will actually engage with the technology, as engagement is critical to have a successful outcome.</p><p> </p><p>Carriers will likely face new challenges, and competition, from sources that they had never considered before. This is already happening through the integration of global financial systems and the bundling of insurance products and service offerings with other financial products. To keep up with all of these trends requires significant agility.</p><p> </p><p>This white paper, Agility Is The Key To Successful AI-Powered Innovation In Insurance, was created in conjunction with the upcoming Insurance Nexus Reuters Events™ conference, Insurance AI and Innovative Tech USA 2020, taking place May 12-13, 2020, at the Radisson Blu Aqua Hotel, Chicago, USA.</p><p> </p><p>Expecting the attendance of over 500 senior analytics executives and insurance industry business leaders, the conference will feature the latest trends in AI-driven technological innovation. Over 60 expert speakers, who are pioneers in AI and innovators in insurance, will share insights about AI and cutting-edge analytics. Attendees will have the opportunity to participate in more than 25 hours of rigorous debates, discussions, and learn from presentations of more than 45 real-world case studies.</p><p> </p><p>For more information, please visit the website: <span><a href="https://events.insurancenexus.com/analyticsusa/?utm_source=Media+Partners&utm_medium=WP1+Article+&utm_campaign=5106">https://events.insurancenexus.com/analyticsusa/</a></span></p></div>Insurance Nexus Unveils Agenda and Announces Brand-New Speaker Line-Up for Fourth Annual Connected Claims USA Summit 2020https://globalriskcommunity.com/profiles/blogs/insurance-nexus-unveils-agenda-and-announces-brand-new-speaker2020-01-17T16:19:10.000Z2020-01-17T16:19:10.000ZInsurance Nexushttps://globalriskcommunity.com/members/InsuranceNexus<div><p>As customer expectations have risen thanks to new platforms and products, so too has the level of technological sophistication as artificial intelligence, chatbots, drones, telematics and apps have become common in multiple industries. The insurance industry is now at a critical juncture as carriers seek to transform their claims processes, using new technologies to meet rising customer expectations and reduce costs. According to a recent survey, over 70% of insurance carriers are looking to invest in AI and automation in the next 2-5 years in order to make the leap that many retailers and service providers already have.</p><p>Through a research driven agenda covering a wide variety of urgent industry challenges led by experienced industry experts and insurance thought leaders, the Connected Claims USA Summit will provide Insurance Carriers with the tools to:</p><ul><li><strong>Achieve Unparalleled Efficiency that Directly Impacts Your Bottom Line</strong>: Create a unified foundation for agile and business-driven innovation rooted in enterprise data management to optimize claims and deliver greater accuracy and effectiveness across people, processes and technologies</li></ul><p><strong> </strong></p><ul><li><strong>Turn Innovation Into a Competitive Edge</strong>: Choose progress over perfection and foster a culture of innovation capable of harnessing multiple technologies to dynamically meet your customer’s needs and stay ahead of your competition</li></ul><p><strong> </strong></p><ul><li><strong>Deliver a Seamless Omnichannel Claims Experience</strong>: From fully automated to highly complex claims, make every single interaction count by leveraging real-time data and AI for a flawless and hyper-personalized experience</li></ul><p><strong> </strong></p><ul><li><strong>Uncover the Roadmap for Claims Tech Integration</strong>: Fully overcome legacy systems and siloed data to unlock the power of tech throughout the claims process and start reaping the rewards of your innovation strategy</li></ul><p> </p><ul><li><strong>Give Rise to the Claims Professional of the Future</strong>: Empower claims adjusters to be problem-solvers powered by real-time access to relevant data and information, creating a culture of speed and transparency that simultaneously attract new talent and deliver new value to the organization</li></ul><p> </p><p><strong><a href="https://eloqua.insurancenexus.com/LP=26435?extsource=media_partner_global_risk_community_bd" target="_blank">View the Brand-New Connected Claims USA Agenda Here</a></strong></p><p> </p><p>Already confirmed to speak are Eric Brandt (EVP Chief Claims Officer, <strong>Allstate</strong>), Mike Fiato (Chief Claims Officer, <strong>Liberty Mutual</strong>), Jeanette Ward (Chief Operating Officer, <strong>Texas Mutual Insurance Company</strong>) and Duane Perkins (Global Head of Claims Excellence, <strong>Zurich</strong>) with more speakers to be announced soon. Also confirmed are:</p><ul><li>Wayne Sharrah (<strong>Chief Claims Officer, Wawanesa Insurance</strong>)</li><li>Traci McGuire (<strong>Chief Claims Officer, AmeriTrust</strong>)</li><li>David Vanalek (<strong>Claims Chief Operating Officer, Markel</strong>)</li><li>Don Jones (<strong>Head of Claims, MassMutual</strong>)</li><li>Guy Dougherty (<strong>Head of Worker’s Compensation, Farmers Insurance</strong>)</li><li>Samantha Santiago (<strong>Head of Claims Strategy and Automation, Farmers</strong>)</li><li>Olga Dotter (<strong>Director of Corporate Innovation, Head of Incubation, CSAA Insurance Group, a AAA Insurer</strong>)</li><li>Paul Stachura (<strong>Chief Care Officer, State Auto Insurance</strong>)</li><li>Lance Ondrej (<strong>Chief Claims Officer, Germania Insurance</strong>)</li><li>Isabelle Guerin (<strong>AVP Claims Portfolio Analytics, The Co-operators</strong>)</li><li>Alan Demers (<strong>President, InsurTech Consulting</strong>)</li><li>Bryan Falchuk (<strong>Best-Selling Author/Speaker/Executive & Life Coach</strong>)</li><li>Karen Furtado (<strong>Partner, Strategy Meets Action</strong>)</li><li>Stephen Applebaum (<strong>Managing Partner, Insurance Solutions Group</strong>)</li></ul><p></p><p><strong><a href="https://eloqua.insurancenexus.com/LP=26435?extsource=media_partner_global_risk_community_bd" target="_blank">View the Connected Claims Agenda Here</a></strong></p><p></p><p>As the event continues to take shape and more speakers are announced, stay up-to-date with the latest developments <a href="https://events.insurancenexus.com/connectedclaimsusa/?utm_source=media+partners&utm_medium=soft+launch+pr&utm_campaign=5081">visit the website</a> or simply get in touch.</p><p>Mariana Dumont</p><p>Head of USA Operations</p><p>Insurance Nexus</p><p>Phone: +44 (0) 207 422 4369</p><p>Toll Free: 1 800 814 3459 Ext: 4369</p><p>Email: <a href="mailto:mariana.dumont@insurancenexus.com">mariana.dumont@insurancenexus.com</a></p><p> </p><p><em>Insurance Nexus is part of FC Business Intelligence Ltd. FC Business Intelligence Ltd is a registered company in England and Wales. Registered number 04388971, 7-9 Fashion Street, London, E1 6PX, UK</em></p><p><em>Insurance Nexus is the central hub for insurance executives. Through in-depth industry analysis, targeted research, niche events and quality content, we provide the industry with a platform to network, discuss, learn and shape the future of the insurance industry.</em></p></div>Reuters Events’ Insurance AI and Innovative Tech Summit Returns to Chicago in 2020 – USAA, Nationwide, The Hartford AXA, Swiss Re, American Family and More Confirmedhttps://globalriskcommunity.com/profiles/blogs/reuters-events-insurance-ai-and-innovative-tech-summit-returns-to2020-01-06T13:46:31.000Z2020-01-06T13:46:31.000ZInsurance Nexushttps://globalriskcommunity.com/members/InsuranceNexus<div><p>As insurance carriers look to technology to meet customer demands at scale, how carriers react to competition and rising customer expectations today will define their success tomorrow. From providing bespoke products, instant customer service and real-time risk monitoring, the likes of AI, machine learning and other innovative technologies are proving the only means through which insurance carriers can meet the high demands of consumers today.</p><p>Likewise, managing the backend requirements of the technology and keeping data secure and monetizable requires a massive break from legacy process, both strategically and operationally. Evidence shows that insurance’s transformation is already well underway; according to <a href="https://www.accenture.com/us-en/insights/insurance/technology-vision-insurance">Accenture’s Technology Vision 2019</a> survey of nearly 600 insurance industry executives, 96% reported the pace of innovation in their organizations has accelerated over the past three years due to emerging technologies.</p><p>To provide insurance carriers with the tools, strategies and insights to navigate their digital journey, the <a href="https://events.insurancenexus.com/analyticsusa/?utm_source=Actuarial+Pots+&utm_medium=BD+Article+&utm_campaign=5106">Insurance AI and Innovative Tech Summit USA 2020</a> will return to Chicago for its seventh visit, May 12-13, 2020, Insurance Nexus have just announced. Through an agenda researched and written in collaboration with industry leaders, the summit will provide a unique experience for attendees, including hours of expert insight, real-world learning and opportunities to network with a host of leaders from across the North American insurance landscape.</p><p></p><p><a href="https://eloqua.insurancenexus.com/LP=25581?extsource=media_partner_global_risk_community_bd"><strong>Download the event brochure today</strong></a></p><p></p><p>Already confirmed to speak at the summit include Jim Tyo (Chief Data Officer, <strong>Nationwide</strong>), Vineet Bansal (SVP, Chief Technology Officer, <strong>Swiss Re</strong>) and Will Dubyak (VP Analytics for Product Development and Innovation, <strong>USAA</strong>), as well as:</p><ul><li>Michael Fulton, AVP, IT Strategy & Innovation, <strong>Nationwide</strong></li><li>Steve Klodzinski, Director, Data Science - Claims Casualty, <strong>Allstate</strong></li><li>Cora Hall, AVP Group Benefits Marketing <strong>The Hartford</strong></li><li>Mingju Sun, Director of Data Science Engineering, <strong>American Family Insurance</strong></li><li>Justin Gress, Director of Strategic Operations, <strong>AXA</strong></li></ul><p></p><p><a href="https://eloqua.insurancenexus.com/LP=25581?extsource=media_partner_global_risk_community_bd"><strong>Download the event brochure today</strong></a></p><p></p><p>Attendees at <a href="https://events.insurancenexus.com/analyticsusa/?utm_source=Actuarial+Pots+&utm_medium=BD+Article+&utm_campaign=5106">Insurance AI and Innovative Tech Summit USA 2020</a> will also become part of North America’s largest insurance community, with over 500 C-level executives gathering to network, debate and learn from renowned industry experts. To give attendees more control over their own networking, Insurance AI and Innovative Tech Summit USA 2020 will also be utilizing the innovative Brella app, that allows attendees to set their own meetings and create valuable business networks that can be leveraged in future. Insurance AI and Innovative Tech Summit USA 2020 will also feature more interactivity than ever before; remote polling will gather the audience’s perspectives on pressing issues and attendees will be able to submit their own questions to our expert speakers using the Slido platform. With the agenda nearing completion and tickets now on sale, please find more information on the website: <a href="https://events.insurancenexus.com/analyticsusa/conference-speakers.php">https://events.insurancenexus.com/analyticsusa/conference-speakers.php</a></p></div>Results-Driven Claims Innovation: Unlock the Real Value of Claims Tech with AIG, Ameriprise and Metromilehttps://globalriskcommunity.com/profiles/blogs/results-driven-claims-innovation-unlock-the-real-value-of-claims2019-12-06T11:47:53.000Z2019-12-06T11:47:53.000ZInsurance Nexushttps://globalriskcommunity.com/members/InsuranceNexus<div><p><a href="{{#staticFileLink}}8028309281,original{{/staticFileLink}}" target="_blank"><img src="{{#staticFileLink}}8028309281,original{{/staticFileLink}}" class="align-full" alt="8028309281?profile=original" /></a>In an age where customers are demanding their Insurance Carrier be more like Amazon or PayPal with a smooth, touchless customer experience, Insurance Carriers face multiple obstacles to satisfying this demand. Chief among them is the overwhelming multitude of technologies available to reach that touchless claims goal.</p><p> </p><p>77% of insurance carriers will invest in automation in the next few years to achieve seamless claims. The incredible potential to leverage technology stretches across the claims landscape, from chatbots to AI, FNOL to payment.</p><p>However – the endless opportunity does make it difficult to prioritize, integrate and fully maximize the power of Claims Tech.</p><p>To discuss how to leverage the value of technology to improve customer experience and deliver efficiencies, Insurance Nexus is bringing together a team of experts including <strong>Eric Spencer (Chief Claims Officer, <em>Ameriprise</em>)</strong>, <strong>Amrish Singh (Head of Product, <em>Metromile</em>)</strong> and <strong>Fred Lemire (Director of Claims Adminstration, <em>AIG</em>)</strong> as well as our moderator <strong>Bryan Falchuk (Best-selling Author,</strong> for a live webinar, Results-Driven Claims Innovation: Unlock the Real Value of Claims Tech‘ on December 10th at 11:00am ET.</p><p><strong><a href="https://attendee.gotowebinar.com/register/462310957206927115?source=Media+Partner+Global+Risk+Community" target="_blank">Register for the webinar to explore the following:</a></strong></p><ul><li><strong>Achieve Impact Amongst Innovation</strong>: Prioritize tech depending on the potential scale of impact, aligning outcomes with business goals</li><li><strong>Put the Human Touch in Touchless:</strong> Balance empathy with efficiency in the race towards automated claims</li><li><strong>Solve the Pain Points</strong>: Combine long-term transformation with quick wins to erase the biggest customer pain points immediately</li></ul><p>“<em>It’s an exciting and challenging time as we craft the design to meet the needs of the “service-touch” generations to “techno-service” generations. As leaders, we live in a world where we are led by or lead through change, regardless understanding the intersection of design and technology deliveries is at the core</em>.” – Eric Spencer, <strong>Chief Claims Officer at Ameriprise</strong> </p><p><strong><a href="https://attendee.gotowebinar.com/register/462310957206927115?source=Media+Partner+Global+Risk+Community" target="_blank">Register for this webinar today</a></strong> – those who register will be sent the recordings, even if they cannot join live.</p><p>“<em>We have so many options at our disposal today to evolve how we serve our insureds. The greatest complexity lies in plotting a path forward and executing on it to take advantage of those options effectively, driving better customer experiences, improved loss results and higher employee engagement. Despite the headwinds we face as an industry and in Claims specifically, we can still navigate the path forward successfully rather than being disrupted into irrelevance</em>.” <strong>– Bryan Falchuk,</strong> <strong>Best-Selling Author/Speaker/Executive</strong></p><p>This webinar is being run in conjunction with Insurance Nexus’ upcoming Fourth Annual <a href="https://events.insurancenexus.com/connectedclaimsusa/">Connected Claims USA Summit</a>, taking place June 24<sup>th</sup>–25<sup>th</sup>, at <a href="https://events.insurancenexus.com/connectedclaimsusa/conference-venue.php">McCormick Place</a>. Welcoming over 1500 senior attendees, Connected Claims USA is the world’s largest gathering for claims executives striving for efficient, customer-centric claims processing. More information can be found on the website at <a href="https://events.insurancenexus.com/connectedclaimsusa/">https://events.insurancenexus.com/connectedclaimsusa/</a></p><p>Mariana Dumont</p><p>Head of USA Operations</p><p>Insurance Nexus</p><p>Phone: +44 (0) 207 422 4369</p><p>Toll Free: 1 800 814 3459 Ext: 4369</p><p>Email: <a href="mailto:mariana.dumont@insurancenexus.com">mariana.dumont@insurancenexus.com</a></p><p> </p><p><em>Insurance Nexus is part of FC Business Intelligence Ltd. FC Business Intelligence Ltd is a registered company in England and Wales. Registered number 04388971, 7-9 Fashion Street, London, E1 6PX, UK</em></p><p><em>Insurance Nexus is the central hub for insurance executives. Through in-depth industry analysis, targeted research, niche events and quality content, we provide the industry with a platform to network, discuss, learn and shape the future of the insurance industry.</em></p><p><em> </em></p><p>###</p></div>Creating Fast, Agile and Service-Driven Insurance, Hippo and AXA Insurance to Join Live Webinarhttps://globalriskcommunity.com/profiles/blogs/creating-fast-agile-and-service-driven-insurance-hippo-and-axa2019-12-03T12:30:17.000Z2019-12-03T12:30:17.000ZInsurance Nexushttps://globalriskcommunity.com/members/InsuranceNexus<div><p><strong><a href="{{#staticFileLink}}8028308489,original{{/staticFileLink}}" target="_blank"><img src="{{#staticFileLink}}8028308489,original{{/staticFileLink}}" class="align-full" alt="8028308489?profile=original" /></a></strong></p><p><strong>LONDON, 22 NOVEMBER 2019:</strong> <em>Insurance leaders to join Insurance Nexus to discuss strategies to successfully implement insurance technology, Wednesday, December 11, 10am EDT.</em></p><p>It is generally now accepted that for insurance, innovation is a ‘must-have’, rather than a luxury. To attract and retain consumers today, to remain competitive and efficient in business, Insurance companies are increasingly turning to the growing number of technological solutions on the market, such as AI, chatbots, automation and more.</p><p>However, investing in costly initiatives and deploying cutting-edge technology will always constitute a risk, even in the most benign of business environments. This is even more true in the context of squeezed profits, tightening regulations, and shrinking consumer trust. Overspends on expensive projects can quickly run into the millions, whilst operability issues with new technology can have serious financial and reputational consequences. </p><p>In the meantime, as long as the options available to consumers continue to grow, the average customer will not stop and wait for those who lag behind to catch up, if improved products and customer service are offered elsewhere. The emphasis is on insurance carriers to deliver (or better) the services and standards that consumers can receive from others, or risk drifting into irrelevancy.</p><p>To provide insurance carriers with actionable strategies to implement emerging technologies across the organization, Insurance Nexus is holding a live webinar, <em>Fast, Agile, Service-Driven Insurance: Fuse Innovative Tech to Your Company DNA - AI, Chatbots, Automation and More</em>, taking place Wednesday, December 11<sup>th</sup>, at 10am EDT. Moderator Christopher Frankland (Founder, <strong>InsurTech360.com</strong>) will be joined by <strong>AXA Insurance</strong> Director of Strategic Operations, Justin Gress and <strong>Hippo Insurance</strong> Chief Insurance Officer, Richard McCathron, to uncover how, with the right strategies in place, technology can transform an insurance carrier into a fast, service-driven organization. </p><p><a href="https://attendee.gotowebinar.com/register/462310957206927115?source=Media+Partner+Global+Risk+Community"><strong>Register today for this exclusive webinar</strong></a> and get actionable insights to develop your strategy including:</p><ul><li><strong>Discovering emerging technology’s true value:</strong> Leverage tech and transform your organization, from claims processing to risk management and streamlining of overall operations</li><li><strong>Improving your profit margins and transform CX with automation:</strong> Learn how to deploy automation with emerging technologies such as ML and AI and gain business efficiencies</li><li><strong>Innovation as a strategy to stay competitive:</strong> Hear how to achieve competitive advantage with innovation- improve data security, exchange data seamlessly, monitor customer behavior and reach a new generation of customer</li></ul><p><a href="https://attendee.gotowebinar.com/register/462310957206927115?source=Media+Partner+Global+Risk+Community"><strong>Register for this webinar today</strong></a> – those who register will be sent the recordings, even if they cannot join live.</p><p>This webinar is being run in association with the upcoming <a href="https://events.insurancenexus.com/analyticsusa/">Insurance AI and Innovative Tech USA Summit 2020</a>, an event by Insurance Nexus, a Reuters Events Company. Expecting more than 500 attendees from across the North American insurance ecosystem, the Insurance AI and Innovative Tech USA Summit brings senior innovation and business unit executives to uncover the rewards of embedding technologies such as AI, IoT, blockchain and automation to create valuable, relevant insurance products and services and seamless experiences through the power of tech-enhanced operations. For more information, please visit the website or get in touch with a member of the Insurance Nexus team.</p><p><strong><u>Contact:</u></strong></p><p>Ira Sopic</p><p>Project Director</p><p>Insurance Nexus</p><p><strong>T:</strong> + 44 (0) 207 422 4363</p><p><strong>T:</strong> +1 800 814 3459 ext 4363</p><p><strong>E:</strong> ira.sopic@insurancenexus.com</p><p> </p><p>###</p><p><u> </u></p><p><u>About Insurance Nexus</u></p><p><em>Situated between London's Silicon Roundabout and the City, Insurance Nexus is at the innovative heart of an industry undergoing significant disruption and innovation. Insurance Nexus is the central hub for insurance executives. Through in-depth industry analysis, targeted research, niche events and quality content, the team provides the industry with a platform to network, discuss, learn and shape the future of the insurance industry.</em></p></div>What are the key trends that run the data center networking market?https://globalriskcommunity.com/profiles/blogs/what-are-the-key-trends-that-run-the-data-center-networking2019-11-18T14:06:12.000Z2019-11-18T14:06:12.000ZKBV Researchhttps://globalriskcommunity.com/members/KBVResearch<div><p><a href="{{#staticFileLink}}8028303892,original{{/staticFileLink}}" target="_blank"><img src="{{#staticFileLink}}8028303892,original{{/staticFileLink}}" class="align-full" alt="8028303892?profile=original" /></a></p><p>Modern <strong><a href="https://www.kbvresearch.com/data-center-networking-market/">data center networking</a></strong> aims to manage clients with multiple data center workloads. In such a network, servers are the components that provide the necessary services to users (and the programs that run on their behalf).</p><p>Responses to API function calls may be the most basic forms of such networking services. Servers can provide applications for users/clients via Web protocols, language platforms, or virtual machines that will provide full desktops to users.</p><h2>What is a Data Center?</h2><p>A data center is a facility that centralizes the IT services and resources of an enterprise, as well as where the data is processed, handled and distributed. Data centers store the most critical systems of a network and are essential to streamline day-to-day operations. Therefore, a top priority for organizations is the safety and reliability of data centers and their information.</p><p>Although data center designs are different, they can generally be categorized as data centers that are internet-oriented or enterprise-oriented (or “internal”). Internet-facing data centers generally support relatively few applications, are mostly browser-based, and often have undisclosed numbers of users. Enterprise data centers, on the other hand, serve fewer users but host more applications that range from off-the-shelf to custom applications.</p><h2>What is data center networking?</h2><p>Currently, on single computers, few business workloads–and increasingly less product and entertainment workloads–are executed, which implies the need for data center networking. Networks provide a common map for servers, users, applications and middleware to position workload execution and also to control access to the data they generate. The workflow that involves data center networking between resources is the organized work between servers and clients in a network.</p><p>Data is shared between servers and users, even though there is no central supervisor of such exchanges for modern data centers. A traditional data center network includes servers that handle workloads and respond to client requests. It also includes switches that link devices together; routers that execute packet forwarding functions, controllers that handle workflows between network devices, and gateways which serve as junctions between data center networks and the wider Internet.</p><h2>Software-Defined Data Center Networking</h2><p>In a software-defined network (SDN), data center workflow dynamics switch to a more effective accommodation of varying workloads. Essentially, the workflow is divided into two categories: the content of documents and media used by clients (the data plane) and the guidance on how this information should be accommodated by the network (the control plane). It allows an SDN controller to make grand changes to how the data plane is mapped, even while a process is underway.</p><p>Processes are executed without compromising the control plane and the connections that link the network components together. Nevertheless, enterprises and public services tend to view their data centers in common use as the collection of servers running on-premises they own or rent. But, even this concept is worn off by new realities, the most popular of which is the proliferation of cloud-based services and applications made available to “as-a-service” companies–offered on a subscription basis, or pay-as-you-go basis.</p><h2>Data Center Networking Trends</h2><ol><li><strong>Network Agility</strong></li></ol><p>The networks of today need to be incredibly flexible to meet customers' connectivity needs. It is crucial to the success of any organization to be able to access data and services when they are needed. This applies in particular to businesses that rely on multiple suppliers and platforms to provide their customers with services. Institutions leave themselves open to the severe effects of system downtime without inefficiencies in place to ensure network availability.</p><ol start="2"><li><strong>5G Infrastructure</strong></li></ol><p>The 5th-gen technology is finally beginning to roll out in select markets after decades of promises. It has become by far one of the highest-profile trends in data center networking. Telecom carriers already are heavily investing in infrastructure and technologies that will take full advantage of 5G, and any data center that delays in preparing for this trend in the industry may find it difficult to compete. As the reach of 5G networks grows, consumers would expect this innovative technology to provide the lightning-fast service they have been told to expect.</p><ol start="3"><li><strong>Edge Computing and IoT</strong></li></ol><p>The growing proliferation of devices from the Internet of Things (IoT) has caused many companies to reconsider their network architecture. Since data is limited by physics laws, it takes time for it to travel back and forth to the center of the network, adding latency into the process and weakening device efficiency.</p><p>Edge computing architecture that pushes core processing functions nearer to the outer edges of the network where most data is collected and where many users access digital services, enables devices to respond much more quickly based on the data they observe. Whether using neighboring edge data centers to streamline analysis or process information using their internal hardware, using edge computing networks, IoT devices can significantly improve performance.</p><p></p><p><strong>Click Here For Free Insights:</strong> <a href="https://www.kbvresearch.com/news/data-center-networking-market/">https://www.kbvresearch.com/news/data-center-networking-market/</a></p><p></p><p><strong>The bottom line</strong></p><p>The data center networking market is significantly taking root. Cloud computing is expected to improve the demand for these technologies through expanded use in various industries over the forecast period. The industry of the data center is in the middle of a massive transformation. Due to the accessibility and availability of the infrastructure for cloud computing and SaaS services, any company can deploy applications and technology with just a few clicks.</p><p>It is anticipated that the growing IoT applications will further boost market growth over the coming years. The notion of "center" becomes almost entirely elusive as the essence of data center networking is increasingly disaggregated. Instead of a place where assets are managed and operated, a network of data centers can now be no more substantive than the collection of information technology resources accessible through one another - owned or leased by a business or subscribed to. The <strong>Global Data Center Networking Market</strong> is projected to surface over the coming years, at a market growth of 12.3% CAGR.</p></div>DoorDash Admits 4.9 Million Affected by Data Breachhttps://globalriskcommunity.com/profiles/blogs/doordash-admits-4-9-million-affected-by-data-breach2019-11-07T18:01:18.000Z2019-11-07T18:01:18.000ZRobert Sicilianohttps://globalriskcommunity.com/members/RobertSiciliano<div><p>DoorDash has admitted that it has been the victim of a data breach, which has affected about 4.9 million merchants and people.</p><p><img src="https://activerain.com/image_store/uploads/agents/robertsiciliano/files/061.jpg" alt="" width="300" height="200" align="right" /></p><p>In a recent blog post, DoorDash announced that it noticed some odd activity early in September from a third-party service. After looking into it, the company found that an unauthorized third party was accessing user data from DoorDash on May 4, 2019. DoorDash immediately took steps to stop any future access and to improve security.</p><p>Those who were affected by this breach joined DoorDash on April 5, 2018 or before. Those who joined after that specific date were not part of this breach. The company said it will contact those customers who were affected.</p><p>This breach involved data including email addresses, names, order history, delivery addresses, phone numbers, and encrypted passwords. In some situations, bank account numbers and the last four digits of payment cards were also released. Additionally, the driver’s license numbers of approximately 100,000 delivery people were accessed. Bank account information and full payment card numbers were not compromised.</p><p>This data is called PII or Personal Identifying Information that could be used to open new accounts, take over existing or “socially engineer” you. Going forward, as with all data breaches be on the lookout for scammy emails and phone calls. Be suspect every time the phone rings and make sure unless you are 100% sure, you aren’t clicking links in emails even if you recognize the sender.</p><p>DoorDash also said that it has added additional layers of security in order to protect the data of its customers, and it has improved the protocols that are used to get access to this data. The company has also told customers that it is a smart idea to change their passwords, even if they were not affected.</p><p>ROBERT SICILIANO CSP, is a #1 Best Selling Amazon author, CEO of <a style="color:#f30e0e;" href="https://creditparent.com/" target="_blank">CreditParent.com</a>, the architect of the <a style="color:#f30e0e;" href="https://protectnowllc.com/" target="_blank">CSI Protection</a> certification; a Cyber Social and Identity Protection <a style="color:#f30e0e;" href="https://safr.me/actnow/" target="_blank">security awareness training</a> program.</p></div>USAA, AmFam, Liberty Mutual join Connected Insurance USA 2019https://globalriskcommunity.com/profiles/blogs/usaa-amfam-liberty-mutual-join-connected-insurance-usa-20192019-10-25T11:00:00.000Z2019-10-25T11:00:00.000ZInsurance Nexushttps://globalriskcommunity.com/members/InsuranceNexus<div><p><strong>Connected Insurance USA</strong> <strong>Summit</strong> (Nov 20-21, Chicago) is bringing together over 700+ senior insurance leaders to redefine the future of insurance.</p><p> </p><p>With over 350 executives already registered to attend, this will be the largest executive gathering for forward-thinking carriers. CEOs, COOs, CMOs, SVP and VPs from Product, Customer, Claims, Technology and Innovation know that this is the time to act and leverage innovative technology to boost efficiency and customer experience or risk survival. This is the chance to dive into detail in the core business areas that will see the biggest impact as insurance transforms for the future.</p><p> </p><p><a href="https://eloqua.insurancenexus.com/LP=23783?extsource=Media_partner_global_risk_community_bd"><strong>For more information,</strong> <strong>check out the delegate list and full agenda here.</strong></a></p><p><span><strong> </strong></span></p><p><em>"Having an opportunity to connect, share and learn from peers is critical during this time of disruption and change in what is a quickly evolving industry. Connected Insurance 2019 will provide a great platform to discuss the opportunities and challenges we face in a highly interactive program." –</em> commented Brent Korte, Senior Vice President Chief Marketing Officer, <strong>Ameritas Life</strong></p><p> </p><p><strong>Here’s just a small selection of the insurance heavyweights you’ll be joining at the event:</strong></p><p> </p><p>Strategy, Technology and Innovation:</p><p> </p><ul><li>Senior Vice President and Head of Auto & Home, <strong>MetLife</strong></li><li>VP Modernization, <strong>USAA</strong></li><li>VP – Strategy, <strong>Nationwide</strong></li><li>Chief Operating Officer, <strong>CNA National</strong></li><li>President & Chief Operating Officer, <strong>Lancer Insurance Company</strong></li><li>Senior Vice President, Personal Lines Strategy and Business Development, <strong>Hub International</strong></li></ul><p> </p><p>Customer and Marketing Leaders:</p><p> </p><ul><li>CMO and SVP Marketing, <strong>Ameritas</strong></li><li>Chief Marketing Officer and Senior Vice President of Strategic Innovation, <strong>AmTrust</strong></li><li>Vice President, Customer Experience, <strong>American Modern Insurance Group</strong></li><li>Chief Marketing Officer, <strong>Church Mutual</strong></li><li>Director Digital Marketing, <strong>Hub International</strong></li></ul><p> </p><p>Product and Underwriting:</p><p> </p><ul><li>Chief Underwriting Officer, <strong>Protective Insurance</strong></li><li>Chief Product Officer, <strong>Hippo Insurance</strong></li><li>State Product Director, <strong>American Family Insurance</strong></li><li>Senior Executive Vice-President, <strong>Desjardins</strong></li><li>Senior Product Marketing Manager, <strong>Farmers</strong></li><li>Marketing P&C Product Owner, <strong>State Farm</strong></li></ul><p> </p><p><a href="https://eloqua.insurancenexus.com/LP=23783?extsource=Media_partner_global_risk_community_bd"><strong>For more information,</strong> <strong>check out the delegate list and full agenda here.</strong></a></p><p> </p><p>This week offers a chance to become a part of the only community that’s dedicated to truly transforming insurance organizations. </p><p> </p><p><a href="https://events.insurancenexus.com/connectedusa/register.php?utm_source=Daily+Insurance+Report&utm_medium=BD+Email&utm_campaign=5054">Secure your place here with the discount code 5054GLR100 to save $100 on your pass.</a></p><p> </p><p><u>Contact:</u></p><p> </p><p>Mariana Dumont</p><p>Head of USA Operations</p><p>Insurance Nexus</p><p>Tel: +44(0)20 7422 4369</p><p><a href="mailto:mariana.dumont@insurancenexus.com">mariana.dumont@insurancenexus.com</a></p><p><u> </u></p><p><u>About Insurance Nexus by Reuters Events:</u></p><p> </p><p><em>Insurance Nexus is part of FC Business Intelligence Ltd. FC Business Intelligence Ltd is a registered company in England and Wales. Registered number 04388971, 7-9 Fashion Street, London, E1 6PX, UK</em></p><p><em> </em></p><p><em>Insurance Nexus is now Reuters Events. <br /> <br /> Insurance Nexus is the central hub for insurance executives. Through in-depth industry analysis, targeted research, niche events and quality content, we provide the industry with a platform to network, discuss, learn and shape the future of the insurance industry.</em></p><p> </p></div>