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Traditionally viewed as rock-solid and steady, the insurance industry is not exactly associated with taking big risks. Gray Nester, CIO, Brown & Brown Insurance Gray Nester / Brown & Brown Some, like BBNI’s Technology Solutions Group, are being renamed and restructured to orchestrate greater immersion in the business.
Cybercrime is on the rise, and today an insurance startup that’s built an artificial intelligence-based platform to help manage the risks from that is announcing a big round of funding to meet the opportunity. “Underwriting cyber insurance for SMEs is a more dire prospect than for large enterprises,” he said.
Artificial intelligence (AI) has rapidly shifted from buzz to business necessity over the past yearsomething Zscaler has seen firsthand while pioneering AI-powered solutions and tracking enterprise AI/ML activity in the worlds largest security cloud. billion AI/ML transactions in the Zscaler Zero Trust Exchange.
Saket Modi is the co-founder and CEO of Safe Security, a cybersecurity and digital business risk quantification platform company. Today’s cybersecurity landscape requires an agile and data-driven risk management strategy to deal with the ever-expanding third-party attack surface.
Meet Bastion , a French startup that was created in October 2022 to help small companies tackle cybersecurity risks without too many complexities. What makes Bastion different from other cybersecurity startups is that it wants to be your first and last cybersecurity subscription. co-founder and CEO Arnaud Fournier told me.
This can involve assessing a companys IT infrastructure, including its computer systems, cybersecurity profile, software performance, and data and analytics operations, to help determine ways a business might better benefit from the technology it uses.
Hackers often talk about practicing good “cybersecurity hygiene” : making sure that basic standards, such as using unique passwords for each log-in, are met. This breadth of information can be much more valuable on the black market—sometimes up to $30 per record—than the typical consumer financial profile , which sells for $10 to $12.
Like other data-rich industries, banking, capital markets, insurance and payments firms are lucrative targets with high-value information. Conversely, threat actors – from cybercriminals to nation-states – are harnessing AI to craft more sophisticated attacks, automate their operations, and evade traditional security measures.
Mercury , a startup that provides banking services for other startups, is offering customers expanded FDIC insurance of up to $3 million via a new product in the wake of Silicon Valley Bank’s collapse. That’s 12x the industry standard for institutions of $250,000 in FDIC insurance that other institutions offer. invested in U.S.
In a world where digital threats loom large, cybersecurity leadership has become paramount. Recognizing the crucial role of cybersecurity leaders in safeguarding the nation’s digital infrastructure, the first edition of the CSO30 Awards recently took place in Dubai, showcasing the cream of the crop in the field.
Talkiatry announced today that it has raised a $20 million Series A to scale a strategy simple in theory yet potentially challenging in execution: bring psychiatry services in-network with insurance providers. The startup’s true innovation lies in its plan to make psychiatric services covered by insurance providers for consumers.
With increasing data privacy and security regulations, geopolitical factors, and customer demands for transparency, customers are seeking to maintain control over their data and ensure compliance with national or regional laws. As organizations expand globally, securing data at rest and in transit becomes even more complex.
The funding amount isn’t going to impress anyone as the company managed to secure $55 million. In addition to this traditional equity investment, Wefox also secured $55 million in a revolving credit facility from JP Morgan and Barclays. As a reminder, Wefox sells insurance products through in-house and external insurance brokers.
The Bangalore-based company received a fresh cash infusion of $5 million in seed funding in a round led by Khosla Ventures, with participation from Founders Fund, Lachy Groom and a group of individuals including Palo Alto Networks CEO Nikesh Arora, CRED CEO Kunal Shah, Zerodha founder Nithin Kamath and DST Global partner Tom Stafford.
Virtually every company relied on cloud, connectivity, and security solutions, but no technology organization provided all three. Leaders across every industry depend on its resilient cloud platform operated by a team of industry veterans and experts with extensive networking, connectivity, and security expertise.
Could the secret to building Internet-connected devices that balance utility, safety, security, and privacy reside in the offices of Forcite, an upstart motorcycle helmet maker in Australia? READ MORE ON SECURING THE INTERNET OF THINGS. Boyadgis notably doesn’t approve of everything Waze is known for doing. Have a Tesla Model 3?
All said, Assured Allies joins with insurtech companies around the world that did manage to secure some decent funding recently, including Equisoft , Naked Insurance , Turaco and Acko. It has been proven to reduce the cost of long-term insurance claims by roughly 20%, Nahir told TechCrunch. Akilia Partners and Samsung Next.
Indonesia-based insurtech startup Fuse announced today it has secured $25 million of Series B extension round as it plans to enter more countries including Thailand and Vietnam in Southeast Asia. The pandemic accelerated the digital transformation in the insurance industry, one of the most conservative sectors.
Crafting the Future: The Significance of Selecting the Right Insurance Executive In today’s fast-paced and ever-evolving business environment, securing the right insurance executive is more than a mere hiring decision —it’s a pivotal investment in the company’s future.
Verifiable founder Nick Macario told TechCrunch that data fuels critical operations across health systems and insurance carriers, like contracting, credentialing, enrollment, claims and directories. Insurance payers is the newest part of the company’s expansion that includes verifying provider directories.
Pula , a Kenyan insurtech startup that specialises in digital and agricultural insurance to derisk millions of smallholder farmers across Africa, has closed a Series A investment of $6 million. Agriculture insurance has traditionally relied on farm business. Agriculture insurance has traditionally relied on farm business.
Right now the tool is useful for building a picture of what the network looks like today, and to flag when something is crashing or potentially violating a security or data protection protocol, and to suggest how to fix it. “Enterprise architecture today is very much about the scaffolding in the organization,” he said.
Tokio Marine , a Tokyo-headquartered insurance corporation, said Tuesday it has launched its $42 million corporate venture capital (CVC) fund, dubbed Tokio Marine Future Fund, to invest in early-stage startups around the world. . Tokio Maine, the sole limited partner of the CVC fund, is allocating $42 million to the initial fund now.
VDOO secures $32M for a platform that uses AI to detect and fix vulnerabilities on IoT devices. Others in the first tranche of this round included another carrier, Japan’s NTT Docomo, MS&AD Ventures (the venture arm of the global cyber insurance firm) and Dell Technology Capital, the VC arm of Dell.
Zero Trust adoption is accelerating, with over half of organizations reporting they have adopted Zero Trust Security, according to research independently conducted by leading security research firm Ponemon Institute, sponsored by Hewlett Packard Enterprise. What’s driving the adoption of Zero Trust Security?
This week’s Hlth Europe show in Amsterdam saw the European launch of the Microsoft-backed Trustworthy & Responsible AI Network (TRAIN) consortium that wants to meet this need. Underpinning all this is data, the element that fuels AI but also threatens it if security and privacy of patient records are put at risk in any way.
These venues for buyers and sellers of business-related products are exploding in popularity, fueled by better infrastructure, payments and security on the back-end and companies’ increased need to conduct business online during the pandemic. Insurance is designed to protect against damage to the goods in transit or theft.
The Health Insurance Portability and Accountability Act (HIPAA) mandates a stringent framework for protecting sensitive patient information. These standards form the foundation of cybersecurity measures within the healthcare sector, ensuring compliance, mitigating risks, and safeguarding patient trust.
At Salesforce World Tour NYC today, Salesforce unveiled a new global ecosystem of technology and solution providers geared to help its customers leverage third-party data via secure, bidirectional zero-copy integrations with Salesforce Data Cloud. Maintain governance and security. Ground generative AI.
1 - Using AI securely: Global cyber agencies publish new guide Is your organization – like many others – aggressively adopting artificial intelligence to boost operational efficiency? If so, you might want to check out a new guide published this week about how businesses can use AI securely. So says the U.K.
Networking isn’t just for holiday parties. The two cardinal rules of networking, according to CIOs and career coaches, are to schedule time to do it for at least an hour every month, and to approach it as something you do to help others in addition to yourself. I suffered from a crippling lack of self-worth.”
Plus, with the rapid rise of the BYOD culture in the workplace and thousands of personal devices connecting to corporate networks, the chances of malware attacks are only getting higher. insurance giant, CNA Financial Corporation, was attacked by the ransomware group Phoenix and ended up paying a ransom of $40 million.
The right coaching and a strong network can help many entrepreneurs land a sizable seed round, but that money reflects investor confidence, not market demand. To better manage cybersecurity risk, extend zero-trust principles to third parties. ” To better manage cybersecurity risk, extend zero-trust principles to third parties.
“The pandemic and the aging population and growing population really put very high stress on every healthcare system, and Atlantic Health was no exception,” says Sunil Dadlani, chief information and digital officer and chief cybersecurity officer at the New Jersey-based nonprofit healthcare network.
Every business unit has a stake in the IT services, apps, networks, hardware, and software needed to meet business goals and objectives, and many of them are hiring their own technologists. There’s a demand for skills such as cybersecurity, cloud, IT project management, UX/UI design, change management, and business analysis.
A Noida-based startup is working with all the stakeholders — farmers, food processors, traders and financial institutions — to bridge this post-harvest services gap — and it just secured new funds to continue its journey. The lockdown broke the supply chain network, and prices of agricultural commodities dropped by over 20%.
Industrial cybersecurity not only pays for itself through cost savings and avoided breaches — it also improves operational resiliency at a time of increased cyberattack activity. In the current operating environment, leadership teams must answer the ROI question even for solutions that might seem essential – like industrial cybersecurity. .
Yet another huge public safety raise, as well as big rounds for semiconductor, life sciences and cybersecurity startups. Nirvana Insurance , $80M, insurance: San Francisco-based Nirvana Insurance, an AI-driven commercial trucking insurer, announced an $80 million Series C led by General Catalyst valuing the company at nearly $850 million.
Covid-19-era data breaches go beyond unemployment insurance fraud, medical-research hacks, and other hot topics. ” Accompanying the spike in data copying is a 62 percent increase in malicious activity on corporate networks and servers, with a 54 percent bump in incident response investigations.
And though Nigeria’s food processing systems have a keen resemblance to the West with respect to big factories and huge economies of scale in high-demand cities, farmers still suffer from poor logistics networks. In addition to the seed round, the agritech startup secured $1.5
thanks to complicated coding that needs to be entered to ensure insurance providers pay for the services medical professionals give to patients. The company was founded in 2018 by two former members of Israel’s 8200 cybersecurity unit of the army. Billing has been a huge problem for healthcare systems in the U.S., million.
Korea Investment & Securities participated in the latest funding as well. The new capital will help also Toss accelerate growth for the challenger bank Toss Bank — launched last year by Viva Republica — and a Robinhood-like retail investment app, Toss Securities , which both look to turn a profit next year, according to Seo.
Commercial real estate tenants and property managers have to abide by strict liability rules that any vendor entering the property must have insurance certificates and meet other requirements. To continue advancing its network, the company announced Monday it raised $12.5 Enter Jones. days — from 12 days — with 99.9%
This includes spending on strengthening cybersecurity (35%), improving customer service (32%) and improving data analytics for real-time business intelligence and customer insight (30%). CIOs anticipate an increased focus on cybersecurity (70%), data analysis (55%), data privacy (55%), AI/machine learning (55%), and customer experience (53%).
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