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Insurtech conference highlights AI-driven shift in cyber risk underwriting
Speakers said AI has shortened attackers’ timelines to minutes and that resilience is becoming a primary focus beyond controls like MFA and EDR.
A national insurtech conference brought together insurance industry experts to discuss technology and trends reshaping coverage, with organizers highlighting mental health in workers’ compensation claims and a faster evolving cyber threat environment.
In particular, Risk & Insurance pointed to how underwriting and risk management are adjusting as cyber attacks increasingly use artificial intelligence. The conference materials described incidents where an autonomous, AI-driven attack occurred with virtually no human involvement, underscoring the need to rethink how cyber risk is assessed.
MSIG USA’s Ryan Kratz, Head of Cyber for North America, said AI makes it nearly impossible to fully avoid cyber attacks and that insurers and businesses are shifting emphasis toward resiliency and recovery planning. He also contrasted today’s dynamics with earlier underwriting conversations that focused more heavily on prevention controls such as multi-factor authentication and endpoint detection and response.
Kratz said AI has compressed attackers’ timelines, noting that what could take months for skilled hackers to infiltrate an ecosystem can now happen in minutes. Risk & Insurance said the conference message is that preventative controls remain important, but they are no longer sufficient without resilience built into multiple layers of the business.