Digital Platforms

Artificial intelligence tops insurance executives' priorities, with over 50% citing it as a key focus. However, challenges remain in AI preparedness and workforce reskilling.

Bloomberg Green found in an exclusive analysis that risk models often disagree with each other on fundamental assessments of vulnerability.

Just as cyberattackers appear to be applying the technology to create identities for fraudulent claims, insurers are beginning to talk about how to deploy it to defend against this threat. Gartner, American Family and the Intentional Futures consultancy describe these developments.

Life insurers can only maintain policyholder' trust if holistic cybersecurity solutions are put in place.

Online information creates new opportunities to identify fraud while fraudsters use technology to challenge claims workflows.

The vast majority of damages from last month's CrowdStrike Holdings Inc.'s global IT outage will go uninsured, according to new estimates from Guy Carpenter and CyberCube Analytics Inc.

Humana expands partnership with Google; Arch acquires Allianz MidCorp and Entertainment insurance business; Coalition introduces active cyber insurance in Germany and more insurtech news.

Tamar Shapiro will join MetLife as chief data and analytics officer and Dan Antilley will be the chief information security officer.

The CrowdStrike update debacle continues as businesses file claims under their cyber and insurer Parametrix estimates $5.4B in losses.

A failed software update affected businesses worldwide, but what role will insurance play in covering the anticipated losses?

Marsh, the world's largest insurance brokerage, said that dozens of its clients are preparing to file claims in the wake of a global computing outage that disrupted airlines, banks and government agencies.

In today's hybrid work environment, companies must consider the impact of cyber risks and equip their teams accordingly.

Disputes about insurance liability for cybersecurity software failures bring up possibilities for public policy and regulation.

A cyber breach can cost the average U.S. business $9.48 million and affect its reputation.

Insurers that provide services within the EU or partner with EU-based financial services firms or vendors must comply with the Digital Operational Resilience Act if they exceed the applicable threshold.

Insurers are introducing AI-driven technology and historical data analysis to combat the costly impacts of climate risks.

Complexities in coverage that is offered, along with cost, keeps some from having adequate or even any coverage.

Recent high-profile incidents show how cybercrime crews are increasingly turning to more sinister techniques to try to bend major companies to their will, abetted by new technology.

Adam Lantrip, SVP, professional and cyber solutions practice leader at CAC Specialty, shares how businesses can defend themselves and ensure adequate coverage in the event of a breach.

The challenges to digital transformation value realization are deeply ingrained in the structural and cultural fabric of insurance organizations.

Boateng will lead the organization's cyber risk management strategies.

UnitedHealth Group Inc.'s claims that it had made progress fixing some systems in the weeks after a crippling cyberattack frustrated state health officials who said they were still having problems.

MassMutual's new head of product and Beazley's head of U.S. cyber, plus more career moves.

The hacking group accused of disrupting casinos and hotels at MGM Resorts International last year is engaged in a new campaign targeting banks and insurance companies, according to cybersecurity researchers.

The risk of state-sponsored cyberattacks and new legislation are changing the cyber risk landscape.

Applying AI to insurance claims processing improves its predictive analytics, use of predictive models and control of costs.

Almost 80% of survey respondents were very dissatisfied with the current political climate.

Ariel Re, Hiscox cyber consortium; Swiss Re Gen AI underwriting assistant; Liberty Mutual Reinsurance announced a partnership with Safehub and more insurtech news.

By collaborating, cybersecurity professionals and insurance providers can share insights, best practices, and trends in cyberthreats, creating a more secure environment for all.

With almost half of the cyberattacks focusing on small businesses, AI can help identify vulnerabilities and mitigate some risks.

The integration of geospatial data with advanced analytics streamlines insurer operations by enhancing underwriting and claims processing into a single coherent framework.

Cyber insurance is transitioning from a specialized offering to an essential product.

State Farm and Ting expands safety program to 2 million homes and HSB, part of Munich Re, launches cyber insurance for cars.

Allison Arzeno of Assurance IQ A shares how GenAI is affecting the insurance process, and discusses job opportunities in the industry and the increased role of technology.

Insurers covering cybersecurity risks transfer significant liability to their books in a rapidly changing landscape.

The cyberattack on a UnitedHealth Group Inc. data service is making it harder for health insurers across the industry to gauge their medical care expenses, Humana Inc. executives said Tuesday.

A byproduct of insurance modernization is the creation of increasingly complex tech stacks and application integration.

A new report from Arizent's research team examines technology adoption and investment for insurers.

Social engineering fraud is evolving, and scammers have improved how they manipulate human behavior.

These cyber threats will continue to evolve and pose risks for insurers and their policyholders.

The best three states had an average of 389 cyberattacks per 100,000 people in the five-year period from 2018-2022.

Increased cyberattack risks due to Gen AI is convincing many types of commercial enterprises to get cybersecurity insurance coverage.

Thriving as an insurer requires technological adoption, adaptable cybersecurity measures and collaboration among other factors.

Willis Towers Watson's Sean Scranton responded to Digital Insurance questions about insurance companies' cybersecurity practices in relation to Gen AI.

Bad actors have already made use of the new technology to power cyber attacks. The insurance industry can use the same technology to proactively detect attacks, guard sensitive personal data and establish defense patterns and methods.

Prudential Financial Inc. said hackers gained access to some of its IT systems and user accounts associated with employees and contractors.

The worst three states had an average of 1,287 cyberattacks per 100,000 people in the five-year period from 2018-2022.

Customers with deferred compensation plans at the bank had personally identifiable information compromised through a third party, Infosys McCamish.

General insurance company uses low-code platform service to build its own workflow and case management capabilities.

The medical professional liability insurer will implement Origami Risk's SaaS platform for policy, billing and claims processes.

ONE platform links in professional liability, cyber risk and business coverage

Nationwide and Petco news, plus Chubb's StreamLabs launches Scout and more.