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Industry Landscape
Total Assets Under Management (AUM)
in
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( CAGR)
Total Addressable Market
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Artificial Intelligence (AI) / Machine Learning (ML)
AI and machine learning are transforming insurance by automating underwriting, personalizing customer experiences, and detecting fraud more efficiently.
Cloud Computing
Cloud computing provides insurers with scalable, cost-effective infrastructure to manage data, run applications, and deliver digital services.
Blockchain
Blockchain technology offers enhanced security and transparency in insurance transactions, claims processing, and fraud prevention.
Impactful Policy Frameworks
California Consumer Privacy Act (CCPA)
The CCPA (2018) grants California consumers various rights concerning their personal data, including the right to know, the right to delete, and the right to opt-out of the sale of their data.
This law increases the compliance burden for BriteCore's clients, requiring platform adjustments to support data privacy measures.
General Data Protection Regulation (GDPR)
The GDPR (2018) regulates the processing of personal data of individuals within the EU, imposing strict requirements on data controllers and processors.
Companies using BriteCore platform should ensure that their data storage and transfer practices comply with GDPR to serve European customers effectively.
NAIC Insurance Data Security Model Law
The NAIC Insurance Data Security Model Law (2017) sets standards for data security and breach notification requirements for insurance companies.
BriteCore's clients must adhere to these cybersecurity guidelines, and the platform should support features for robust data protection and incident response.
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