Big Data
Sets of data that are too large to be gathered and
analyzed by traditional methods.
Smart product
An innovative item that uses sensors;
... [Show More] wireless sensor
networks; and data collection, transmission, and
analysis to further enable the item to be faster, more
useful, or otherwise improved.
Internet of Things (IoT)
A network of objects that transmit data to and from
each other without human interaction.
Cloud computing
Information, technology, and storage services
contractually provided from remote locations,
through the internet or another network, without a
direct server connection.
Blockchain
A distributed digital ledger that facilitates secure
transactions without the need for a third party.
Telematics
The use of technological devices in vehicles with
wireless communication and GPS tracking that
transmit data to businesses or government agencies;
some return information for the driver.
Text mining
Obtaining information through language recognition.
Insurtech
The use of emerging technologies in the insurance
industry.
Sensor
A device that detects and measures stimuli in its
environment.
Preventive analytics
Statistical and analytical techniques used to influence
or prevent future events or behaviors.
Transducer
A device that converts one form of energy into
another.
Actuator
A mechanical device that turns energy into motion or
otherwise effectuates a change in position or rotation
using a signal and an energy source.
Accelerometer
A device that measures acceleration, motion, and tilt.
Ergonomics
The science of designing work space and equipment
based on the needs of the people who use the work
space and equipment.
Risk management
framework
A foundation for applying the risk management
process throughout the organization.
Risk criteria
Information used as a basis for measuring the
significance of a risk.
Pure risk
A chance of loss or no loss, but no chance of gain.
Speculative risk
A chance of loss, no loss, or gain.
Credit risk
The risk that customers or other creditors will fail to
make promised payments as they come due.
Subjective risk
The perceived amount of risk based on an individual's
or organization's opinion.
Objective risk
The measurable variation in uncertain outcomes
based on facts and data.
Diversifiable risk
A risk that affects only some individuals, businesses,
or small groups.
Systemic risk
The potential for a major disruption in the function
of an entire market or financial system.
Market risk
Uncertainty about an investment's future value
because of potential changes in the market for that
type of investment.
Liquidity risk
The risk that an asset cannot be sold on short notice
without incurring a loss.
Risk appetite
Amount of risk an organization is willing to take on
in order to achieve an anticipated result or return.
Value at risk (VaR)
A technique to quantify financial risk by measuring
the likelihood of losing more than a specific dollar
amount over a specific period of time.
Cost of risk
The total cost incurred by an organization because of
the possibility of accidental loss.
Exposure
Any condition that presents a possibility of gain or
loss, whether or not an actual loss occurs.
Volatility
Frequent fluctuations, such as in the price of an asset.
Likelihood
A qualitative estimate of the certainty with which
the outcome of a specific event can be predicted.
Consequences
The effects, positive or negative, of an occurrence.
Time horizon
Estimated duration. [Show Less]