Survey: U.S. insurers earned $1B in cyber premiums last year
August 26, 2016
U.S. insurers took in almost $1 billion in premiums last year for writing cybersecurity policies, according to new figures from credit analysts at Fitch Ratings.
David Stegon was a staff reporter for FedScoop and StateScoop from 2011-2014.
The State of Minnesota Department of Public Safety signed a $41 million system-integration agreement with HP Enterprise Services to develop the Minnesota Licensing and Registration System for the Driver and Vehicle Services Division.
HP will work with Minnesota to create standardized processes and develop an integrated system that houses 6.4 million vehicle records and 4.1 million driver history records.
“This agency is part of the foundation of Minnesota’s economy—when vehicles move, so do products and services,” said Marilyn Crouther, senior vice president and general manager, U.S. Public Sector, HP Enterprise Services. “To build MNLARS, we will combine our government expertise with proven technology to develop the comprehensive solution that will take the State of Minnesota into the future.”
MNLARS is designed to improve information access, accuracy and security. For example, entering information early in the process ensures that accurate data is readily available, improving data sharing and reporting capabilities while eliminating data re-entry and saving paper. As a result, the DVS staff can standardize the transactions process no matter who initiates or completes it. The system also will track and review transactions to reduce errors and fraud.
DVS staff members and agents will have access to a 360-degree view of a driver’s vehicle registration, title, driving record and other related documentation, to improve efficiency and customer service.
The interface, as well as self-service options such as selecting a preferred communication method and filing online permit applications, will facilitate accurate interactions with customers. The new system also will provide the framework for adding new services in the future.