Data and information management

Hyperexponential recently received new venture capital funding, supporting its effort to modernize underwriting pricing tools and models.

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.

Insurers should look at governance policies, operations methods and modeling to pre-emptively keep bias and drift out of AI handling of underwriting and pricing, an expert on the technology recommends.

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.