News from Australia
Underwriters should be on alert for unwitting exposure to claims stemming from inaccuracies caused by artificial intelligence, an insurance lawyer says. AI could be “even more pervasive than cyber in terms of where it ...
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Technology and artificial intelligence (AI) are reshaping insurance distribution, creating challenges and efficiencies for intermediaries, as insurers balance profitability with customer and agent satisfaction. Capgemini’s 2...
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Geopolitical uncertainty is the primary driver of emerging threats for banks and insurers, according to the 2025 ORX Horizon and Cyber Horizon reports. The reports, based on input from 47 global financial services firms, ranked cyb...
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The swift development of AI has resulted in the increasing integration of AI technology in insurance claims management and insurance underwriting. In certain cases, AI has been used by insurers to streamline administrative work to...
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Willis Towers Watson (WTW) has released a new report exploring the potential for historic loss data to help financial institutions narrow gaps between perceived and actual operational risks. Part of the firm’s...
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Recent research from insurer AMI shows that 73% of small business owners are concerned about cyber security, and one in four say they’ve been affected within the last two years. Despite that concern, more than half of...
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Data privacy and security compliance were identified as the primary concerns of 75% of global insurers and 83% of their New Zealand and Australian counterparts, according to a Gallagher Bassett survey. The claims and risk...
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Cyber-attacks are on the rise and it’s not only big businesses that are affec...
In New Zealand, CERT NZ 1 responded to 1,530 cyber security incidents in the first quarter of 2024, which resulted in $6.6m direct financial loss. And if you think having cyber security measures in place affords enough protection,...Feature
The global insurance and reinsurance industry is expected to avoid major financial repercussions from the internet service disruption caused by a faulty security software update from CrowdStrike, according to Fitch Ratings. ...
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The Marsh McLennan Global Risks Report 2024 captures insights from nearly 1,500 business leaders and experts worldwide, providing a short-, medium- and longer-term perspective on unfolding risk to help organisations make informed,...
