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New IBM study: Insurance leaders agree that rapid adoption of generative AI is necessary to compete, but insurance customers express reservations

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C-suite executives see generative AI as both a risk and an opportunity

ARMONK, N.Y., Oct. 16, 2024 /PRNewswire/ — New research by IBM’s (NYSE: IBM) Institute for Business Value identifies a disconnect between how insurers and their customers prioritize the use of generative AI, with industry executives focusing on experience while their clients are seeking personalized risk products and insights.

Findings from a survey of 1,000 insurance c-suite executives in 23 countries and 4,700 insurance customers in nine countries are outlined in Generative AI in the Insurance Industry: You Can’t Win if You Don’t Play.

“The insurance industry has made headway in generative AI with customer experience and chatbot enhancements, but insurers must focus on adopting comprehensive governance frameworks that ensure transparency, privacy, and explainability to ensure they are building trusted AI assistants and reliable processes,” said Mark McLaughlin, Director of Global Insurance with IBM Technology. “There are also significant opportunities in connecting customers to the right products. Leveraging AI across the enterprise will be critical to improve both customer risk experiences and to implement the underlying IT tools that power those experiences.”

Key Takeaways 

Insurance CEOs surveyed were almost evenly divided on whether they see generative as more of a risk (49%) versus an opportunity (51%)77% of industry leaders who responded acknowledge that generative AI is necessary to keep pace with competitorsInvestments in gen AI are expected to surge by over 300% from 2023 to 2025 as organizations move from pilots in one or two areas to implementations in multiple functions across business linesOnly 29% of insurance customers queried said they are comfortable with gen AI virtual agents providing service, with only 26% saying they trust in the reliability and accuracy of advice given by generative AIOrganizations choosing less-centralized operating models to develop gen AI capabilities can improve business outcomes by up to 14%

Recommendations

Build more tailored products with flexibility, advice, and linkage to risk dataMatch those products intelligently to customers’ needsAddress trust issues with strongly ethical, governed AIAlso use AI to connect the underlying risk data and address long-standing insurer and financial service provider technical debtDeploy – and govern – AI across the enterprise with local knowledge experts empowered to connect AI to the insurance value chain

Download the full report here: www.ibm.com/thought-leadership/institute-business-value/en-us/report/insurance-generative-ai

IBM is a leading provider of enterprise AI, hybrid cloud architecture, security and ESG insights to the global financial services sector. Its deep industry expertise, extensive portfolio of services and solutions, and its robust ecosystem of fintech partners, empower collaboration, innovation, and creation with clients. As a trusted partner to banks, insurers, capital markets and payments providers, IBM guides financial institutions on all stages of their digital transformation journeys through IBM Consulting and delivers the proven infrastructure, software, and services they need through IBM Technology. For more information, visit https://www.ibm.com/industries/insurance.

Methodology

The IBM Institute for Business Value (IBM IBV), in cooperation with Oxford Economics, surveyed 1,000 C-level insurance executives in 23 countries in Q3 2024. 60% of the sample represented pure insurers, 35% bancassurers, and 5% insurance captives of non-financial services and insurance industry organizations selling to the wider insurance market. Participants were asked a range of questions in various formats (multiple choice numerical and Likert scale) about their organization’s expectations, results, concerns, and barriers for the use of generative AI in various parts of the organization, as well as relevant technological and business KPIs that allowed a quantitative assessment of the efficacy of these uses.

In the same timeframe, the IBM IBV also surveyed 4,700 insurance customers in nine countries, with a minimum of 900 respondents in each country: Australia, Canada, China, France, Germany, Hong Kong, Japan, UK, and US. Customers were asked a mirror of some of the questions the above executives received on gen AI benefits and concerns, allowing IBM IBV to gauge agreements and gaps in executive and customer perceptions.

The IBM Institute for Business Value, IBM’s thought leadership think tank, combines global research and performance data with expertise from industry thinkers and leading academics to deliver insights that make business leaders smarter. For more world-class thought leadership, visit www.ibm.com/ibv.

About IBM

IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s long-standing commitment to trust, transparency, responsibility, inclusivity and service.  Visit www.ibm.com for more information.

Media Contact

Mary Ellen Higgins
IBM Global Financial Services Industry External Communications
maryellen.higgins@ibm.com
m +1.781.789.1911

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SOURCE IBM

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Skyservice™ Announces Development of Gogo Galileo HDX STC for Gulfstream G280

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MISSISSAUGA, ON, Oct. 17, 2024 /CNW/ – Skyservice Business Aviation (“Skyservice” or “the Company”) is pleased to announce it will develop a Supplemental Type Certificate (STC) to implement Gogo Galileo HDX on Gulfstream G280 aircraft, ensuring operators have access to the latest high-speed in-flight internet solutions and positioning the Company as a leader in advancing connectivity for business aviation.

“At Skyservice, we are committed to staying ahead of the curve when it comes to supporting the latest advancements in business aviation,” said Benjamin Murray, President and Chief Executive Officer of Skyservice. “The demand for reliable, high-speed in-flight connectivity is higher than ever, and our development of this STC for Gogo Galileo HDX is a direct response to meeting that demand with cutting-edge solutions.”

Gogo Galileo, the latest innovation from Gogo Business Aviation (NASDAQ: GOGO), will provide operators worldwide with global, high-speed in-flight internet and low-latency performance for every size of business aircraft from light jets and turboprops to the largest business jets. With its compact size, the HDX will leverage Eutelsat OneWeb’s enterprise-grade Low-Earth-Orbit (LEO) satellite network, designed for mobility to deliver low variability and consistent performance across all routes globally.

Skyservice’s STC for Gogo Galileo HDX will cover the Gulfstream G280, a popular super-midsize business jet, with approximately 240 aircraft currently in operation worldwide. This STC is expected to be validated by Transport Canada Civil Aviation (TCCA), the Federal Aviation Administration (FAA), European Union Aviation Safety Agency (EASA), the National Civil Aviation Agency of Brazil (ANAC), and the UK Civil Aviation Authority (UK/CAA), which will allow operators globally to benefit from the latest high-speed in-flight connectivity.

Operators can contact Skyservice to submit a purchase order for the Galileo HDX, which is designed to be an easy upgrade to any AVANCE system (AVANCE L3, L5, LX5, SCS). Installations are planned for Q1 in 2025.

A special promotional rebate of $25,000 is also available for a limited time to current Gogo customers operating a legacy air-to-ground system (ATG 1000, 2000, 4000, 5000) when installing AVANCE SCS and HDX.

Skyservice experts will be onsite at the National Business Aviation Association (NBAA-BACE) in Las Vegas at booth 2651 from October 22-24, to share more about Gogo Galileo. Gogo will also offer in-person demos of the Galileo service, available at the static display at AD_325.

___________________

About Skyservice MRO

As a comprehensive global shop for all business and commercial aircraft MRO services, Skyservice is committed to quality, service excellence, and transparent on-time project delivery. Skyservice is an approved aircraft maintenance organization of TCCA, FAA, EASA, BDCA, HK-CAD, 2-REG, Aruba and CAAS. Services include scheduled maintenance, avionics and upgrades, AOG services, aircraft parts & supplies, teardown and recycling, non-destructive testing (NDT), pre-purchase inspections (PPI) and an assortment of STCs on leading OEM brand aircraft.

About Skyservice™

Skyservice is a North American leader in business aviation dedicated to innovation, responsible operations, safety, and service excellence. Approaching 40 years of distinction, Skyservice is at the forefront of the business aviation industry with best-in-class facilities across North America. Our skilled maintenance teams, award-winning fixed base operator facilities, first-class aircraft management, private jet charter services, aircraft sales and acquisition teams combine to deliver an exceptional experience to our valued customers. To learn more, visit http://www.skyservice.com/.

About Gogo

Gogo is a leading provider of broadband connectivity services for the business aviation market. We offer a customizable suite of smart cabin systems for highly integrated connectivity, in-flight entertainment, and voice solutions. Gogo’s products and services are installed on thousands of business aircraft of all sizes and mission types from turboprops to the largest global jets, and are utilized by the largest fractional ownership operators, charter operators, corporate flight departments and individuals.

As of June 30, 2024, Gogo reported 7,031 business aircraft flying with its broadband ATG systems onboard, 4,215 of which are flying with a Gogo AVANCE L5 or L3 system; and 4,247 aircraft with narrowband satellite connectivity installed. Connect with us at www.gogoair.com.

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SOURCE Skyservice Business Aviation Inc. – Mississauga, ON

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Fundamental Interactions Unveils Comprehensive Market Research Report on the Evolution of Private and Digital Alternative Trading Systems (ATS)

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Fundamental Interactions Releases Comprehensive Report on Private and Digital Alternative Trading Systems, Exploring Key Shifts in Liquidity and Innovation in Private Equity and Digital Asset Markets

NEW YORK, Oct. 17, 2024 /PRNewswire-PRWeb/ — Fundamental Interactions Inc., a leading provider of electronic trading solutions, today announced the release of its latest market research report, “Unveiling the Dynamic Landscape of Private and Digital Alternative Trading Systems (ATS).” This in-depth report explores the transformative shifts occurring in private equity and digital securities markets, driven by the emergence of innovative ATS platforms that offer new avenues for liquidity and investment.

As the financial landscape evolves, traditional exchanges are no longer the exclusive venues for trading. ATS platforms have rapidly gained prominence, particularly for handling less liquid assets such as over-the-counter (OTC) private equity shares and digital securities. Operating within a flexible yet regulated framework, ATS platforms match buyers and sellers outside the scope of public exchanges, effectively addressing the liquidity challenges inherent in private markets.

Key Highlights from the Report:

Regulatory Framework: The report provides a comprehensive analysis of how U.S. ATS platforms are regulated by the Securities and Exchange Commission (SEC) under Regulation ATS and the role of the Financial Industry Regulatory Authority (FINRA) in supervising broker-dealer operations.Three-Step and Four-Step Processes for ATS Platforms: Fundamental Interactions outlines the critical operational processes for ATS platforms that handle both private equity shares and digital assets. These processes, which include due diligence, trade execution, custody and settlement, and in some cases, direct settlement between buyers and sellers, are essential for ensuring regulatory compliance, security, and efficiency.Special Purpose Broker-Dealers (SPBD): The report delves into the rise of Special Purpose Broker-Dealers for digital asset securities, highlighting how these platforms leverage blockchain and distributed ledger technology to ensure secure, transparent custody and settlement, bypassing traditional transfer agents.Comparison of Leading Platforms: The report features a detailed comparison of business models from leading ATS platforms. Each platform is evaluated based on its approach to liquidity, transparency, and innovative solutions for private and digital markets.

A Growing Market for Private and Digital Securities

As the demand for private equity and digital asset trading grows, ATS platforms are becoming indispensable tools for accredited investors, institutional players, and private companies. By offering enhanced liquidity, secure trade execution, and real-time pricing, these platforms are democratizing access to traditionally illiquid assets.

Fundamental Interactions is at the forefront of this transformation, providing cutting-edge technology solutions that power many of the ATS platforms shaping this new era of financial markets.

About Fundamental Interactions

Fundamental Interactions Inc. is a leading provider of trading technology solutions, specializing in electronic trading systems that power private equity and digital asset markets. With a focus on innovation, transparency, and efficiency, Fundamental Interactions continues to drive the evolution of financial trading infrastructure.

Contact:
Sales@finteractions.com

www.finteractions.com

Media Contact
Shawn Sloves, Fundamental Interactions Inc., 1 212-845-9077, shawn@finteractions.com, www.finteractions.com

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SOURCE Fundamental Interactions Inc.

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Evo Security Unveils Evo 2.0: A New Era of Unified Identity and Access Management for MSPs

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New Products, New Features, New Leadership, and a Consolidated Identity Platform

AUSTIN, Texas, Oct. 17, 2024 /PRNewswire/ — Evo Security, a leading identity and access management (IAM) company focused on Managed Service Providers (MSPs) and their customers, today announced a major company rebrand, upcoming product releases and significant enhancements to its existing solutions, marking a pivotal moment in the company’s evolution and a meaningful step forward in consolidating IAM technology tailored specifically for MSPs.

The refreshed brand identity centers around the concept “Managed Security Starts with Identity,” reflecting Evo’s deep commitment to modern security best practices built on comprehensive identity and privileged access management.

“Identity breaches remain the leading cause of security incidents today,” said Michael Roth, Founder and CEO of Evo Security. “We are thrilled to bring our vision of a truly consolidated IAM platform for MSPs to life. With our enhanced platform and upcoming products, MSPs can now experience unified solutions that merge the capabilities of multiple vendors into one agent, one dashboard, and one solution partner,” Roth continued. “We are also excited to welcome Greg Gage, former technology innovation leader at Datto, as our new Chief Technology Officer. With our revitalized team and platform, Evo is more prepared than ever to meet the identity and privileged access management needs of MSPs.”

“Evo Security is essential in helping us enhance and maintain a robust identity and privileged access security program internally and for our customers,” said Will Alexander, VP of Security Operations at SonicWall Managed Security Services. “By consolidating multiple capabilities into one streamlined platform, we have significantly reduced time spent on troubleshooting, managing multiple portals, and require fewer technicians for oversight. Overall, Evo has helped lower operating costs and improve security management efficiencies, while delivering outstanding protection,” said Alexander.

Enhanced Features and Capabilities

Evo’s platform now offers a suite of advanced identity and privileged access tools designed to provide comprehensive protection while delivering an intuitive user experience:

Admin Portal: The revamped admin portal features a modernized, user-friendly interface with improved navigation, onboarding, and quality-of-life enhancements such as dark mode, streamlined multi-tenancy, and easier access to everyday tasks, data, and analytics. This allows MSPs to efficiently manage identity security controls, monitor activity, and assign privileges across large client bases.

Mobile Apps: Evo’s iOS and Android apps have been redesigned to become the preferred authenticator app for MSPs and their end users. Improvements include easier navigation, key customization, dark mode, offline codes, and device registration.

Multi-Factor Authentication (MFA): Evo MFA enables MSPs to deploy a second layer of user authentication when logging into Windows workstations and servers. Enhancements include an updated agent, improved deployment flexibility, easier administration, one-click user directory sync, and aggressive pricing that leads to significantly greater profit margins compared to legacy solutions.

Single Sign-On (SSO): Evo SSO allows MSPs to replace legacy SSO solutions with a brandable login designed to support the multi-tenant use case of MSPs. This includes securing any SAML-based web application with a wide variety of configurations used internally by MSPs and across all customers at a far more competitive price point, allowing for a substantial increase in profit margin compared to existing solutions.

Managed RADIUS: Evo RADIUS helps MSPs apply a second layer of user authentication to VPNs and firewalls. Unlike other solution providers, Evo hosts and manages the RADIUS server on behalf of the MSP and all customers. Updates include improved configuration flexibility and broader applicability across network devices.

Technician Elevation: Evo’s cornerstone privileged access solution, Technician Elevation, now offers a streamlined management interface, updated agent, granular time-based controls while technicians are elevated into a customer endpoint, and more flexibility on deployment.

Upcoming Products

End User Elevation: Evo End User Elevation simplifies how MSPs manage privilege escalation for standard end users at their customers. This solution offers automated, time-bound privilege elevation for end users, reducing technician time and the risk of security breaches by ensuring end users have the access they need when they need it.

Help Desk Verification: Evo Help Desk Verification is designed to reduce the risk of social engineering and identity fraud by enabling technicians to quickly and securely verify a user’s identity when calling a help desk or answering a ticket. This improves account takeover liability and enhances user experience for MSPs and their customers.

Greg Gage Joins as Chief Technology Officer

Evo Security is proud to welcome Greg Gage as Chief Technology Officer. Gage brings nearly two decades of cybersecurity expertise, having previously led R&D efforts at Datto, where he played a critical role in building industry-leading technology. After Datto, he founded Zorus, a company focused on advanced DNS filtering specifically for MSPs. At Evo, Gage will spearhead accelerated innovation plans that will help define a new category of identity and access management.

Evo Security to Unveil New Brand Identity at DattoCon 2024

Evo Security will unveil its new brand identity at DattoCon in Miami on October 28th, 2024. Attendees will get an exclusive look at Evo’s upcoming products, updated platform, and the bold vision set for the future. Visit booth 318 to speak with an Evo team member.

About Evo Security

Evo Security provides advanced Identity and Access Management solutions tailored specifically for MSPs. Our consolidated platform delivers secure and streamlined management of identity and privileged access, protecting MSPs and their customers with confidence. At Evo, Managed Security Starts with Identity. For more information, visit www.evosecurity.com.

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SOURCE Evo Security, Inc.

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