Podcasts - Insurance Journal

In this episode of The Insuring Cyber Podcast, take a deep dive into the latest challenges in cyber risk management with experts from cybersecurity and cyber insurance firms. Kaustubh Medhe, vice president of research and threat intelligence at Cyble, shares insights from Cyble’s new report, Securing BFSI: An Integrated Approach to Cybersecurity and Brand Protection, highlighting emerging threats and defense strategies for businesses of all sizes. Peter Hedberg, vice president of underwriting at Corvus, addresses common misconceptions in cyber insurance, how policies are evolving, and why this is an essential conversation for executives and boards. Check it out!

You’ll enjoy the interesting life and business journey of our guest Satvinder Kaur. She’s originally from India, and marketing executive roles at various carriers led her to the USA. Most recently she oversaw the brand refresh for the agency network Acrisure. Today, Satvinder urges insurance marketers to learn all they can about AI and employ new tools for customer acquisition and engagement. She has built a framework for learning: Her new “Find a hack” innovation workshop helps marketers discover pathways. But a dose of reality is in order, too. “Remember when smart phones were the talk of the town?” Satvinder asks. “You don’t hear people now saying, ‘The smart phone is my edge.’ AI will be like that. We’ll all have it.” She advises insurance marketers to “find the problem you want to solve. It’s not the problem the AI vendor is bringing to you, where maybe they solved a problem for a luxury brand. Find your own problem to solve.”

CBD, once considered a safer cousin to sell and to insure than marijuana, has become a bit of a gray area for regulators and insurers. That’s because of the lack of regulatory guidance, and the fact that the Farm Bill has yet to be finalized. There’s a level of trepidation in the insurance industry, but one insuring cannabis specialist sees the CBD space as an opportunity for producers. For our latest podcast, we spoke with Summer Jenkins-Wilson, a principal with Capital Green Consulting.

The insurance industry is experiencing the infancy of general AI — not generative AI, but general AI, according to thought leader Bryan Falchuk. He’s an author, speaker and CEO of PLRB. “Specific AI is like having a cake recipe, all the necessary ingredients, and you bake the cake. General AI is asking, ‘Here is what’s in the fridge; figure out what to cook.’ It’s looking at the world around you and thinking of paths forward.” Bryan says viewing AI for expense management is not the path to profitability and change. “If we think of AI as just an efficiency tool, we won’t get the full value out of it. Because even if you squeeze a few more points out of the expense ratio, that won’t change the game. The path to ultimate success…Is where there are things that humans can never see as pieces of a disparate jointed puzzle, but humans could help orchestrate the coming together of that puzzle with the right AI tools. For us that means more coverage at a lower price for more risks, underwriting profitability and claims excellence, which is ultimately what we should be doing.” Brian also argues what is required to retain talented younger workers. Hint: Invest again in training!