Matt Cullina, CEO, CyberScout, said cyber-related risks have evolved from data breaches to more targeted attacks that look to quickly monetize purloined data.
Michael Barnes, assistant vice president, Willis Re, said mutual insurers' focus on policyholders likely means they would rather develop more complex solutions tailored to policyholder needs, than develop simple, limited products.
Insurers and industry leaders on an A.M. BestTV at the Meeting of Reinsurance Officials said nations that restrict cross-border insurance, manipulate interest rates and react to disasters with short-sighted solutions.
Charles Dugas, director of insurance solutions, Element AI, said insurers that want to implement an artificial intelligence program must work from a digital, modernized technology platform with access to data sources and computing power.
Insurers and reinsurers at the Meeting of Reinsurance Officials in Montreal said mutual insurers lack stock companies' range of access to capital sources, which is why many look to reinsurers for help with capital and expertise.
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