Along with a proper response plan, small businesses should understand what not to do to avoid future cybersecurity attacks.
The fraud ring, which included owners of litigation-funding companies, attempted to defraud insurance companies of more than $31 million.
As more state actors engage in cyberwarfare, insurance companies and private businesses are struggling to find common ground on what the "War Exclusion Clause" means for them.
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Proactively tackling fraud in an insurance business has never been more critical. Consumers have expected improved levels of service during the pandemic and migrated to online interaction, driving demand for claims automation. This paper demonstrates how identifying and acting on the Halo Effect is crucial to all aspects of risk management and how AI automation is necessary against fraud and risk to grow profits and retain customers.
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