Privacy for internet of things is generally poor says study
The fast growing world of connected devices – the ‘internet of things’ – poses a risk to privacy according to a global study by Canada’s Privacy Commissioner.
It found that the privacy communications of internet-connected devices is “generally poor” and fails to inform users about what personal data is being collected and how it is being used.
“With the proliferation of the Internet of Things, the activities, movements, behaviors and preferences of individuals are being measured, recorded and analyzed on an increasingly regular basis. As this technology expands, it is imperative that companies do a better job of explaining their personal information handling practices,” said Commissioner Daniel Therrien.
Included in the sweep, which was undertaken across 25 jurisdictions, the Commissioner’s office looked at health & wellness devices such as popular fitness trackers and blood pressure monitors.
The aim of the sweep was to raise awareness of privacy issues and to encourage better compliance with privacy regulations by organizations using connected technologies.
“The Sweep demonstrates the ongoing commitment of privacy enforcement authorities to work together to promote privacy protection around the world,” Commissioner Therrien said. “Past Sweeps have shown us that education and outreach alone can often go a long way towards effecting positive change for privacy.”
Home insurers focus on customer satisfaction
Home insurers in the US are focusing on customer satisfaction as competitive pricing is generally keeping premiums stable according to a JD Power survey.
Average premiums have remained relatively constant and in 2016 average $1,186 for homeowners insurance and $259 for renters.
“Insurers have shifted their competitive focus to improving communication, process efficiency, and being easier to work with as a way to solidify and grow their business,” said Valerie Monet, director of the insurance practice at J.D. Power. “Improvements in processes and customer service benefit everyone—the customer and the insurer. When competing on price, it’s incredibly difficult to provide an outstanding customer experience.”
Customer satisfaction metrics for both homeowners and renters have shown a 17-point increase in 2016 compared to 2015.
The report highlights the importance of agent and broker interactions but warns that disruptors to the industry will place even greater importance on customer interactions.
“New entrants into the market, such as on-demand insurance, will likely result in shifts in customer expectations.
Customer satisfaction is going to be more important than ever before for competitive position and growth,” said Monet.
Tennessee insurance agent loses license for selling unlicensed securities
A former insurance salesman from Pinson, TN has had his license revoked after admitting to the fraudulent sale of unlicensed investment securities.
Tennessee Department of Commerce & Insurance also fined Barry Hubert Bynum $3,000 for the sale of $100,000 of “Certificates of Investment” through an unlicensed broker-dealer company called Estate Security.
The scheme was uncovered when one buyer tried to cash-in the investment and found there was no money.
