Artificial Intelligence and Machine Learning helping insurance companies with cybersecurity: EY

As cyber security becomes even more crucial amidst Covid19 pandemic, artificial intelligence and machine learning backed solutions are helping several insurance companies tackle these threats, an EY report said. In a recent case, EY had helped an insurance company tackle the cybersecurity threat and this could be replicated throughout the industry. An Indian insurance company was looking to augment its internal security to protect its data, systems, and infrastructure from potential cyber security threats. In addition, the company determined that it needed a 24 7 security log monitoring system that could operate 365 days a year along with the capability to conduct analytics, threat profiling, correlation and alerting, EY report said. The company is now not only able to prevent active threats, but also conduct analysis on potential vulnerabilities.