Woman walking through hole in the wall

3 risks facing the insurance industry and how technology is mitigating the impact

Digitization and AI-powered workflow automation can assist in managing insurance industry risks

Faced with an increasing volume of data, greater customer expectations, sophisticated cyberthreats, and growing fraud, C-level insurance industry leaders are under constant, accelerating pressure to quickly evolve their risk management function.

And yet, the industry's pace of technology adoption continues to trail that of the accelerating threats and risks. According to a recent report from PwC, the greatest threat for insurers today is often their level of commitment (or lack thereof) to the transformation efforts that will move the needle over the long term.¹

This eBook, 3 Risks Facing the Insurance Industry & How Technology Can Mitigate the Impact, explores the three major risks insurers face — cyberthreat, fraud, and client attrition — as well as the opportunities that digitization and automation can create for insurers in minimizing these risks. Insights include:

  • The power of Artificial Intelligence and Machine Learning

  • Aligning automation with critical business areas and workflows to reduce risk

  • The benefits of digital information management in transforming unstructured data into actionable insights

See the insights and information other insurers are leveraging to secure data, reduce fraud, and enhance the customer experience.

  1. 1PwC. Next in insurance: Top insurance industry issues in 2022. 2022.

Recommended for you

Benefits of AI-driven insurance claims management
Benefits of AI-driven insurance claims management

Benefits of AI-driven insurance claims management

Confronted with a customer now demanding instant gratification, insurers are laser-focused on their automating their claims management processes using AI technology.

Finance Document Management System
Finance Document Management System

Finance Document Management System

Stream line your work with Ricoh's finance document management system. Serve your company and create efficient automated workflows with a managed cloud SaaS.

How to protect against ransomware attack
How to protect against ransomware attack

How to protect against ransomware attack

Learn from Ricoh how do you protect against malicious ransomware. Protecting against a ransomware attack is like fire prevention, don't let the danger take hold.