Tennessee School District Duped Out of $3.4 Million in Curriculum Vendor Scam
A rural Tennessee school district was swindled out of over $3 million when a finance officer unknowingly wired funds to a fraudster impersonating a legitimate curriculum vendor, part of a growing wave of email scams targeting schools.
October 1, 2024
Education & Training
Fraud
Litigation
Technology
Arizona
Ohio
Tennessee
Texas
Small Businesses Face Rising Threats from AI-Driven Scams
A survey reveals that a quarter of small business owners have been targeted by AI-generated scams, using tactics like email, voice, and video impersonation, exposing them to significant fraud risks.
October 1, 2024
Fraud
Insurance Industry
Risk Management
Technology
Strategies to Combat Insurance Fraud With AI and Specialized Training
Insurance companies are turning to AI-powered technology and enhanced training programs to combat increasingly sophisticated fraudulent claims, aiming to minimize financial losses and improve claims handling efficiency.
September 30, 2024
Education & Training
Fraud
Insurance Industry
Technology
AI’s Impact on Insurance Pricing: New Strategies for Risk and Profitability
Artificial intelligence is revolutionizing insurance pricing by enhancing risk assessment, personalizing premiums, and improving operational efficiency, though significant challenges remain in infrastructure, data quality, and compliance.
September 30, 2024
Auto
Insurance Industry
Risk Management
Technology
CEOs Sharpen Focus on Cybersecurity and Generative AI Amid Volatility
The 2024 KPMG CEO Outlook highlights how business leaders are tackling cybersecurity risks, generative AI implementation, and mergers and acquisitions to stay ahead in an era of compound volatility.
September 24, 2024
Risk Management
Technology
Generative AI’s Expanding Role in Insurance: Beyond Efficiency to Product Innovation
Generative AI is moving beyond enhancing efficiency for insurance professionals. It now holds potential for transforming risk management, customer interaction, and even product offerings.
September 24, 2024
Auto
Insurance Industry
Risk Management
Technology
Actuarial Studies Tackle Bias, AI, and Modeling in Insurance Pricing
The Casualty Actuarial Society has released four new reports that explore bias in insurance pricing models, AI usage, and regulatory concerns, aiming to guide actuaries toward fairness and compliance.
September 24, 2024
Auto
Legislation & Regulation
Risk Management
Technology
Rising Elder Fraud Losses Highlight Need for Personal Cyber Insurance
As elder fraud losses soar past $3.4 billion, cybersecurity risks grow more complex. Personal cyber insurance offers broader protection, covering identity theft, online fraud, and other cybercrimes targeting vulnerable populations.
September 23, 2024
Fraud
Insurance Industry
Life & Health
Technology
Evolving Worker Activity Tools Now Powering AI Data Generation in the Insurance Industry
COVID-era worker activity monitoring tools have evolved into sophisticated AI data generators, helping insurers tackle rising repair costs, litigation, and labor shortages while improving operational efficiency.
September 23, 2024
Auto
Litigation
Risk Management
Technology
Nintendo Sues Pocketpair Over Alleged Patent Infringement in Hit Game Palworld
Nintendo and affiliate Pokemon Co. have filed a lawsuit against Pocketpair Inc. for alleged patent infringement tied to Palworld, citing gameplay mechanics as a potential issue. The case seeks an injunction and damages.
September 19, 2024
Insurance Industry
Litigation
Technology
Ohio’s Strategy to Attract and Train Insurance Talent
Ohio’s successful collaboration between universities, insurance companies, and stakeholders offers an effective model for recruiting and educating new talent in the insurance and risk management fields.
September 19, 2024
Education & Training
Insurance Industry
Risk Management
Technology
Ohio
Insurance HR Professionals Tackle Talent Retention and AI Concerns in 2024
Insurance industry HR leaders continue to battle long-standing challenges like talent retention, while preparing for AI’s impact on workforce management in 2024.
September 18, 2024
Insurance Industry
Risk Management
Technology
Workers' Compensation
Lawmakers Push for UI Fraud Prevention While Improving Equity and Access
In response to pandemic-era unemployment fraud, lawmakers propose solutions to improve fraud prevention and equity in UI systems, leveraging technology and data-sharing practices.
September 18, 2024
Fraud
Insurance Industry
Legislation & Regulation
Technology
Alabama
Kentucky
New Jersey
Vermont
Executives Shift Focus to Technology Obsolescence as Cyber Risk Concerns Drop
Business leaders are increasingly concerned about technology becoming obsolete due to rapid innovations like AI, while focus on cyber risk is declining, despite escalating cyber threats.
September 18, 2024
Insurance Industry
Risk Management
Technology
Insurance Professionals Face Challenges in Adopting AI and Modern Pricing Technology
Insurance professionals are grappling with AI integration and outdated pricing technology, as revealed by hyperexponential’s "State of Pricing 2024" report, highlighting concerns about skills gaps and future roles.
September 17, 2024
Insurance Industry
Risk Management
Technology
Underwriting
