Cyber

The time for adoption is now, and insurers must take action in our increasingly digital and data-driven landscape.

In a recent World Economic Forum report, nearly 1,500 surveyed professionals identified AI as their organization’s biggest technology risk.

Even as the cybersecurity market grows more sophisticated, hackers are using AI to develop devilish new ways to fool us all. 

One financial organization ran a penetration test and found that fully 4% of employees still fall for phishing emails.

Organizations only insure about 19% of their information assets, vs. 60% of physical assets -- even though losses are far more likely on information assets.

Insurance companies have money and don't protect it as well as banks do. We as an industry look like we deserve to be stolen from.

It's no longer enough to ask if companies are following protocols to avoid cyber attacks. It's time to ask, "Are those protocols the right ones?"

Businesses must adopt a multi-layered defense strategy, including regular data backups, robust endpoint protection and employee awareness training.