Advancements in artificial intelligence are in many ways a double-edged sword for the cyber insurance industry. Increasingly diverse and sophisticated cyber attacks have dramatically increased the demand for cyber coverage, offering a lucrative opportunity for insurers to capitalize upon.
However, the complexity of cyber underwriting makes it difficult for insurers to scale their cyber operations quickly. In order to meet current booming demand, as well as the increasing intricacies of managing risk while supporting remote work, insurers may benefit from adopting artificial intelligence (AI) technologies of their own in order to increase efficiencies and enable more effective detection of cyber threats.
