Laura Horrocks, customer success manager at fraud focused technology supplier Shift Technology, said: ”AI is a double-edged sword because, while insurers are going to benefit from the many different aspects of using it to improve customer journeys and fraud detection, fraudsters are also able to be much more agile.
“Deepfakes are one of those areas that, even with the best people in the world, it’s going to be really difficult to detect. The examples that we are now seeing are far more convincing than when we first became aware of the issue a few years ago, so there needs to be technology there.”
Counter fraud teams at insurers are aware of the arms race they are now in with fraudsters over the use of AI technology, with the pace of adoption now speeding up on both sides of the fence.
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