Can Mobile App Notifications Replace Cancellation Notices?

P&C insurers are required to notify policyholders when their policies are cancelled for any reason. If they do not, and a former policyholder’s claim is rejected, they can be sued for damages well in excess of the claim. To protect themselves, many insurers maintain various kinds of evidence that Cancellation Notices were sent.

One compelling piece of Cancellation Notification evidence could be mobile app notifications sent directly to a canceled policyholder’s phone. The mobile app notifications could include links to Cancellation Notices and could be logged for future reference, reducing doubt that the policyholder was made aware that the policy was cancelled. This evidence creates a “digital audit trail” showing the insurer has made every reasonable effort to ensure that policyholders are notified of cancellation.

While a mobile app notification will not replace a government mandated, mailed Cancellation Notice in most states, Insurers can help to reduce the frequency and cost to litigate “bad faith” cancellation lawsuits by adding mobile notifications to their policyholder communication channels. Notification Management is one of the valuable benefits of a robust mobile policy services app. The low cost of a mobile app is typically far less than the high cost of a single judgement against the insurer.

How to Use Google Drive to Recover Deleted Files

If you are struggling to find out how to recover deleted files from Google Drive, then this quick guide is for you. Here, we have discussed multiple ways to do that.

There are multiple ways available to recover deleted files from Google Drive. These recovery options include:

Recover deleted files from Google Drive Trash
Restore Google Drive files from backup
Check your Google Drive Activity
Recover deleted files from Google Drive Trash

Source: wondershare

Just like Recycle Bin on your PC or Trash on Mac, all deleted data from Google Drive is marked deleted and moved to Trash. It remains there for next 30 days and automatically gets deleted after that time period. Here, it gets permanently deleted after 30 days of time. So, if you have file deleted in less than 30 days, then you can check Google Drive Trash to restore deleted files. To do this, follow below mentioned steps:

Login to your Google Drive account to start recovering process.
Tap on Trash icon on the left pane to view the deleted files. You may find it is named as Bin sometimes.
Here, you will find all deleted files on the list. Sift through all the files to find one that you want to restore.
Once selected, right-click on it and select restore option to recover the selected file. Here, it will restore the deleted file to its original location in Drive.
Note: You can click on Delete Forever option if you want to permanently delete the file.

Restore Google Drive Files from Backup

If you are G-suite user, then you can try to restore deleted files from Google Drive’s Vault application. It allows you to restore a backup from Google Drive. This web-based tool allows to save the cloud data that is stored in:

Gmail
Google Drive
Hangouts
Google Groups
It allows you to restore deleted files from above mentioned accounts only. It doesn’t support recovery from Google calendar, contacts, and sites. To recover deleted files using Google Vault, follow below mentioned steps:

Sign into your Google Vault account.

Here, select “Matters” and choose Pre-Existing Matter. You can find this option in the left pane.

Tap on Search in the left pane and then select Drive.

Once you have selected the drive; provide your email address to restore deleted data.

Next is to click on Search Now option. It will display you all available files based on your search.

Choose “Export Results” option. It will export all selected files of the list.

Once it completes export process, click on Download to get back your files. Here, it will download all files in a zip file. Once downloaded, you can upload files back to Google Drive for easy access.

Check your Google Drive Activity

Source: wondershare

Being a Google Drive user, you can easily view your recent actions in the activity pane. Here you will find two options to view:

First, Details to see with whom the document is shared and see the location of the folder. It also displays you other sharing settings.
Second, Activity to help you view your recent actions In the Google Drive.
To access Activity option in Google Drive, follow below mentioned steps:

Login to your Google Drive account.

Here, you need to open your drive. To do this, tap on My Drive option. Here, you will be able to view files that are present in the Drive.

Next is to find and click on Info pane. Here, you need to tap on icon in the Info pane displayed at upper right corner. You can also choose to open Activity panel by clicking ‘i’ key on your system keyboard.

Next is to Click on Activity tab to view your recent actions. You can click on specific files or folders to view actions related to that file or folder. You can scroll up or down to view latest and older changes to the selected item.

In addition to recover deleted files from Google Drive, you can also try to recover it from old backups you have created on your system or external drive. You can also try best data recovery software to recover deleted files even from formatted or broken disk. These powerful tools work efficiently on all platforms including Windows, Mac, Android, iOS, and Linux.

Automating Anti Money Laundering Checks for Clean Customer Base

The fast-growing economies in the world are under huge threats. Slovakia, Guyana, Ethiopia, Czech Republic, and many others have a high projected growth rate with respect to their economies.

It is estimated that Guyana will have a projected growth rate of about 16.3% during the period 2018-2021, the fastest growing economy in the world. In all these countries, economic conditions will continue to improve having a rising GDP level as well as foreign exchange.

However, unfortunately, there are several challenges that such economies are facing. These challenges correspond to financial crimes such as money laundering and terrorist financing

Security Challenges for Financial Industries

The Security for financial industry is always prone to severe financial challenges among which the filtration of bad actors from the legitimate financial system has always been a goal

This is the reason that regulatory authorities came up with stringent regulations across the world in which banks and financial institutions need to be vigilant in their processes.

Bad actors in the financial system perform various malevolent activities due to which regulatory authorities have made it an obligation for institutions to perform ‘due diligence’ on the customers.

Financial Technology is Helpful…How?

The world is getting digitised. From the banking industry to healthcare and travel to retail, all industries are taking advantage of technological advancements paving their way for customers dealing. Moreover, they help fight against the bad actors in the system.

Similarly, banks and financial institutions can take into account financial technology and pave the way for the Fin tech industry as well. Financial technology helps fight against the bad actors by authenticating them online just the way banks do. Keeping both technology and streamlined financial services is not a dream now.

Modern technology is capable of dealing with bad actors online. They are able to verify each on boarding customer complying with the KYC (Know Your Customer) and Anti Money Laundering Check (AML) regulations.

The money launderer finds new ways to fool the financial systems. They do so by presenting false documents and identity to conceal the bad money. These instances can be mitigated by employing strong technology that could differentiate between the spoofing elements as well as photoshopped documents.

KYC verification process involves identity verification against documents and some other attributes. Biometric technology is integrated with online banking portals to identify and verify the customers in seconds.

The technology is able to detect the spoofing elements in the picture if any and performs face verification to ensure controlled access over the confidential accounts. This helps mitigate the risks of cyberattacks in a financial system.

Anti-money Laundering Measures

As economies are expanding their scope, businesses need to implement the methods in systems that help them identify each on boarding identity to fight against money launderers.

Anti-money alluring checks are already implemented in the identity verification API integrated with the financial system. That API is powerful enough to screen each customer against updated global watchlists, sanction lists, and databases of Politically Exposed Persons (PEPs).

In this way, customer identification is done. This approach corresponds to AML procedures that financial institutions need to perform to ensure a clean customer base.

KYC Verification Process helps financial businesses to ensure security as well as online user experience. To conclude, the increasing complexity in financial systems requires vigilant measures by financial businesses to deal with bad actors.

Institutions need to comply with regulatory obligations, security issues as well as online customer experience. Financial technology can help businesses achieves all these goals simultaneously.