CFC boosts cyber cover for high-risk digital sectors

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[ad_1] “Using AI to detect fraudulent claims, for example, is no longer a nice to have, it’s a necessity. Because the bad guys are already using it,” Gupta said. “Claims are coming in with AI-crafted documents. Someone can easily create what looks like a legitimate ransomware attack, but all the artifacts are AI-generated. If a…

[ad_1] From legacy processes to digital workflows Traditionally, underwriting commercial auto risk meant hours spent gathering driver records, vehicle histories, safety scores, and financial statements, often via fax or email. Applications could take days, even weeks, to process. In a market where customers demand instant quotes and rapid bind-to-issuance, legacy processes fall short. [ad_2] Source…

[ad_1] What are the three phases of value? According to KPMG, the “enable” phase emphasizes building AI foundations by appointing responsible executives, creating AI strategies, identifying high-value use cases, increasing AI literacy, and ensuring regulatory alignment. This phase also involves launching AI pilots, utilizing cloud platforms, and leveraging pre-trained models with minimal customization. [ad_2] Source…

[ad_1] The insurer, part of Berkshire Hathaway Insurance Group, currently employs nearly 3,800 workers across Florida, primarily in Jacksonville and Lakeland. Geico said the expansion is part of its ongoing commitment to modernize operations and grow its business. [ad_2] Source link

[ad_1] “As carriers evaluate their core systems and digital infrastructure this year, the priority must be reducing friction where it matters most,” said Sylvester Mathis, chief insurance and chief revenue officer at Insurity. “A clunky or disconnected claims process frustrates customers and risks sending them elsewhere. When someone avoids filing a claim, despite having coverage,…