Data security

The number of cyber insurance claims AGCS has seen has increased in the past few years, following along with general cyber risk trends. In 2020, the company received more than 1,000 in total, compared to 80 in 2016. This trend has continued into 2021.

Digital Insurance spoke with Maroun Mourad, president of global underwriting and leader of the life unit at Verisk about life insurance technology and what’s ahead for the industry.

Microsoft 365 customers are eligible for discounts on At-Bay cyber insurance if certain security controls are implemented like multifactor authentication and Microsoft Defender.

In other news: Allstate closes $400M sale of New York life, annuity business; USAA partners with Blink by Chubb; Zurich North America implements Chisel AI.

Globally, 72% of respondents said they would share some personal data with their insurer but when broken down by gender, only 68% of women and 75% of men said they would share.

As regulators and insurers work to understand the level of regulatory oversight that is needed for AI innovation, there is a path forward by looking to the recent past. The massive 2015 breach of Anthem’s customer data was a catalyst moment for insurance regulators and led to the Insurance Data Security Model Law now being adopted across the U.S. In this piece, former insurance regulator Jillian Froment lays out five core goals common to AI and cybersecurity that could accelerate the adoption of AI regulation.

In other news: Amerisure implements One Inc ClaimsPay tech; California drivers report distracted driving is getting worse; HSB adds social media income to home cyber protection.

In other news: Hippo launches Builders Program; handdii wins the 2021 ACORD Insurtech Innovation Challenge New York; Blockchain-backed title insurance launches in five states.

Many insurers are focused on ransomware risk protection even though other new vulnerabilities are emerging from remote work. Recent statistics point to a troubling increase in ransomware and phishing, web application attacks and other emerging cybercrime tactics.

A new report, IT’s Changing Mandate in an Age of Disruption conducted by the Economist Intelligence Unit, supported by Appian, suggests that to continue with various digital transformations and increase adaptability for the future, some IT improvements must be made.

Chief executives from across the business world are set to join President Joe Biden for a discussion Wednesday on how industry and the federal government can partner to improve cybersecurity in the face of debilitating ransomware and cyberattacks.

With cyberattacks on the rise and demand for coverage surging, the $3 billion industry of protecting companies against hackers is at an inflection point.

A trove of company data was stolen, and CNA officials were locked out of their network, according to sources.

Cybersecurity is top priority for the life insurer, says tech leader.

Laura Deaner joins the company from S&P Global.

Emerging consumer attitudes toward privacy threaten to overturn long-standing industry assumptions about customer data and personalization.

With the growing vulnerabilities and uncertainty of our highly globalized and connected world, actions in one place can spread rapidly to have global effects.

PaymentSource's Daniel Wolfe sits down with Carey O'Connor Kolaja, AU10TIX's new CEO to discuss the rise in synthetic fraud, the fastest-growing financial crime, and how payments security has been changed by the pandemic.

Folksam Group, which oversees about $50 billion in insurance assets, said it shared client data with Facebook, Google, Microsoft, LinkedIn and Adobe, according to a statement on Tuesday.

New research finds that it's become harder than ever to acquire new customers — and equally challenging to engage newly acquired ones.