It provides underwriters with new tools to accurately identify and price risks. Technology is also helping to prevent some risks like flooding and fires in homes in commercial buildings via early alerts. Policyholder education is a key ingredient in the risk management process, and technology is making it more accessible and providing practical insights and answers in real-time.

Yes, in some cases threat actors are using it to perpetrate a wide range of frauds like cyberattacks and financial fraud. However, it is also providing insurers and customers with new tools to identify these attacks sooner, mitigate some of the risks, and recover more quickly because they are better prepared.