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CYBER INSURANCE RISK FRAMEWORK

on February 05, 2021

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CYBER DATA BREACH

CYBER DATA BREACH What to Do if You Have a Data Breach It is common to have an “it will never happen to us” philosophy when it comes to data breaches. Unfortunately, that thinking can lead to lax security measures and carelessness when it comes to protecting sensitive information. If your company suffers a data breach: Act quickly . Report the breach immediately to local law enforcement. Notify important suppliers, vendors and partners. Alert your customers. If there is a data breach involving customers’ personal information, activate your plan to alert them. The information compromised could be incredibly harmful to your customers, so alert them as soon as possible. Investigate. If you do not have the resources to do an internal investigation, consult a third party. The more quickly the breach can be dealt with, the fewer negative effects your company will endure. Take measures to lessen the chance of a future breach. A data breach can be a good learning tool for your company.

Health Insurance Data Analytics

Health Insurance Data Analytics FAQ'S 1. WHY do you need Data Analytics ? When we have large data it is extremely difficult to analyze every claim, inspite of best efforts there are possibilities that claims may be settled on cases which require additional checks and validation. Data analytics helps business by interacting with Big Data and provide insights into Health Insurance claim analytics. Intelligent Interpretation of Business An information that exists never unleashed Greater Insights into critical and Hardening Areas Risk involved in existing Data Corrective Action Future Trends Cost Benefit 2. How does it help in detecting suspicious claims or detecting frauds? There are various parameters set inside the system which will flag records to be taken up for further analysis, Ex : Spikes in specific months when there was no known medical peril, Limit utilization in Domiciliary claims wherein maximum spend relates to Pharmacy etc., In one of the analysis we found that

Risk Management Tools

Risk Management Tools Enhancing Risk Management Framework in BFSI with core focus on Insurance Transasia Soft Tech, headquartered in Chennai, brings in-depth of collective industry experience into insurance and banking software development in the areas of wholesale banking, trade finance, treasury, claims and risk management. Transasia Soft Tech believes that knowledge is power and in its endeavor takes collective domain and technology experience to provide the BFSI sector with a robust framework in the area of risk management and other allied solutions. The core philosophy and vision of Transasia Soft Tech is to provide niche and customized technology solutions so the COO of the company will explain us about their wide range of products and services in the insurance domain. In conversation with Vijayanand Subramaniam, COO, Transasia Soft Tech External factors and security-specific threats are converging to influence the overall security and risk landscape, so leaders in the space mus

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CYBER INSURANCE RISK FRAMEWORK

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