Indian insurers shake up cyber risk assessment after IRDAI push
Indian insurance companies are shaking up how they assess cyber risks after a push from the Insurance Regulatory and Development Authority of India (IRDAI), the industry regulator.
With AI-powered scams like deepfakes and smart phishing on the rise, old-school methods that rely on past data just aren't cutting it anymore.
Insurers add AI oversight and monitoring
Insurers are now focusing more on real-time monitoring, stronger AI oversight, and being ready to respond fast if things go wrong.
They're also using scenario-based models and predictive tools, since there isn't much data yet on new AI risks.
Plus, companies renewing their policies are being asked to share more details about how they manage their own AI systems.
The goal: stay ahead of the curve as cyber threats get smarter and sneakier.