PwC and financial services think tank CSFI tracked the views of insurance leaders in 39 regions, finding widespread concerns that artificial intelligence could be used as a powerful new weapon to compromise insurance companies’ security. revealed. The launch of cyber-attacks by state-sponsored agents is also considered a special risk.
Insurers are concerned about the potential harm caused by cybercrime, as well as the potential increased costs associated with mitigating attacks. Insurance industry leaders say investing in cyber defense could become more difficult as the industry’s IT ecosystem expands through the growth of internet-connected devices and increased reliance on cloud and third-party services. The survey found that people are concerned about their sexuality.
Andy Moore, PwC Insurance Partner, said: “For large insurance companies, the prospect of a serious cyber attack is daunting, especially as organizations drive efficiency, improve customer engagement and strengthen vital bottom lines. It is natural that we are looking to new digital solutions for this purpose.” “The challenge for insurers is that as businesses become more complex with new hardware, cloud computing, longer supply chains, third-party services, etc., cyber vulnerabilities unfortunately increase.
“Criminals are becoming increasingly adept at monetizing breaches, and given the potential for sensitive customer data to be compromised, the insurance industry must have resilience against cyber-attacks as a core requirement. Cybersecurity is designed to be built into the business architecture, not a “bolt-on.” ”