The Vietnam Actuarial Conference 2018 hosted by Prudential with the attendance of over 200 actuaries and insurance professionals discussing Big Data More insurance businesses are now planning to apply new technologies in their management systems and improve customer services, while many also plan to develop new products to meet market demand as well as diversify insurance sales channels, according to a survey released by Vietnam Report in June last year. In particular, 82.4 per cent of insurance companies said they were building a Mobile Internet development strategy and 64.7 per cent have adopted strategies based on two key factors in Industry 4.0: the Internet of Things (IoT) and Big Data. Disruptive technology Big Data provides new insights from social networks, telematics sensors, and other new information channels. As a result, it allows understanding customer preferences better, enabling new business approaches, product development, and enhancing existing internal models, … [Read more...] about How can Big Data drive the future of insurance?
Data management big data
Data is collected from every activity (source: medgadget.com) Once in the purview of computer experts, Big Data and artificial intelligence (AI) today effect society with an unprecedented growth of knowledge. Data has become an important issue to individuals and organisations. Individuals generate data with every action that sends ripples through the Internet and social networks, creating a digital trace mirroring every facet of their lives. Even everyday objects, like connected cars and smart TVs are part of this data generation. Data is now a vital part of people’s existence and creates new knowledge about them. However, the issue is what this data is used for. For businesses and organisations, the collection and analysis of data is very important to research people and the market, to formulate informed decisions. Big Data, if sufficiently processed, will help to make proper decisions. However, if it is not processed properly, it will be next to useless and impact the … [Read more...] about Data and humanity – who will dominate?
The symposium themed “Environmental Auditing for Sustainable Development” -one of the most important contents of the agenda- demonstrates the ASOSAI community’s commitments and efforts to bring about practical contributions to the United Nations’ pursuit of Sustainable Development Goals (SDGs) with the settlement of global environmental challenges. In his speech, as ASOSAI Chairman for the 2018-2021 term, Ho Duc Phoc, who is also Auditor General of the State Audit Office of Vietnam (SAV), affirmed that the environment has become one of the most urgent global issues of prime concern to each nation. In the future, environmental challenges will pose serious threats to the development of nations, raising the higher importance of Supreme Audit Institutions’ (SAIs) tasks of carrying out environmental auditing for sustainable development. Cognizant of the importance of environmental protection for the nation’s sustainable development, and the role and … [Read more...] about ASOSAI 14: Utilizing Big Data for effective environmental audits
Cybersecurity, data management crucial for fintech developmentBy Thuy Dung HANOI - The State Bank of Vietnam (SBV) encourages cooperation between commercial banks and financial technology (fintech) companies but urges the enhancement of cybersecurity and data management to safeguard consumers’ interests and stabilize the banking system, officials said. At a seminar titled, “The Fourth Industrial Revolution and Innovations in the Finance-Banking Sector,” held by National Economics University on June 12, Le Anh Dung, director of the Payment Department under SBV, noted that the central bank will manage fintech firms based on risk assessment instead of their compliance with general principles. According to experts at the seminar, fintech companies have significantly affected the banking system, having transformed banks’ business and administration models into digital ones by applying the achievements of the Fourth Industrial Revolution. In addition, fintech firms … [Read more...] about Cybersecurity, data management crucial for fintech development
Viet Nam News HCM CITY — A smart healthcare system that exploits Big Data and artificial intelligence (AI) has been set up by the Ministry of Health to improve the quality of health examinations and medical treatment. Each locality in the country is expected to develop a smart healthcare system based on their own conditions, according to the ministry. The ministry has issued a set of criteria for IT applications toward smart health, according to Trần Quý Tường, head of Electronic Health Administration of Việt Nam. Under the criteria, a hospital will be considered “smart” if it uses artificial intelligence and has software to manage information, tests, storage and image transmission, electronic health records and kiosks for patients to search for information. HCM City’s City Department of Health has instructed hospitals to draw up a road map that will include human resources and capital expenditures for their facilities. … [Read more...] about MoH smart healthcare system uses AI, Big Data