Insurance

We help insurers navigate disruption, manage regulatory change and integrate technology to transform and achieve growth.

All sectors face challenges. But, in insurance, the list is especially long. Profound regulatory change. Unprecedented opportunity in emerging markets. Lingering economic uncertainty. Technology-driven disruptions. Rising consumer expectations. Intense cost and competitive pressures. Through our services, we can help you address these issues — and embrace innovation and transformation to improve performance and drive long-term growth.

Our global team of professionals combines industry knowledge and technical experience to help with your most pressing issues. Whether through our tax or our innovative advisory services, we help insurers explore M&A strategies, adopt new business models, develop new products, embrace technology, optimize customer experience and address shifting workforces.

The better the question. The better the answer. The better the world works.

Case study: How AI and ML are helping an Indian insurance company eliminate cybersecurity threats

By transforming cybersecurity with Artificial Intelligence (AI) and Machine Learning (ML), an Indian life insurance solutions company eliminates potential security vulnerabilities.

The better the question. The better the answer. The better the world works.

How can an organization employ machine learning in cybersecurity?

AI/ML adoption holds the key to robust internal security amidst the evolving cyber threat landscape.

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.

To build a reliable cybersecurity function, the company determined that it had to implement the latest technologies such as AI/ML, managed detection and response (MDR) and security orchestration, automation, and response (SOAR). To achieve that, it required support from a reliable partner capable of building an information security and data breach management framework and providing device and technology management support.

The company was also looking for support from a partner proficient in information security training and awareness to develop a security awareness program for the organization.

Building a robust security function
Machine learning in cybersecurity
The better the question. The better the answer. The better the world works.

AI/ML enabled cybersecurity is feasible through managed security services

A managed security services (MSS) model monitors and reports threats for proactive action.

For AI/ML enablement, the company was looking for a reliable partner to deploy and operate the required capabilities. The company evaluated several parameters of a service partner, such as its vulnerability management capabilities, knowledge about the organization’s attack surface, and the presence of an established incident management process. As a reliable partner, EY established an MSS model at the company providing round-the-clock security monitoring and incident reporting.

As part of the deployment, EY implemented a security incident and event management (SIEM) process along with maintenance and integration. The solution was equipped with AI/ML capabilities which enabled the company to proactively monitor threats and determine response plans for cyber security breaches. The MSS model offers services through its Cognitive Capability Center (CCC), security governance services, and vulnerability management services.

EY also developed a security awareness program for the company offering training and awareness on cybersecurity. The MSS implementation is compliant with various industry and quality standards, including ISO 27001, OWASP, SANS and NIST.

Different aspects of Managed security services
Transforming cybersecurity with AI and ML
The better the question. The better the answer. The better the world works.

The AI/ML-enabled MSS proactively manages cybersecurity

The AI/ML-enabled MSS model provides comprehensive threat response and manages several non-core security processes.

The MSS model has helped the company secure its devices and information while continuously monitoring security threats. It manages the deployment and ongoing maintenance of the SIEM system and device integration for the company. As a trusted security partner, EY also built standard operating procedures (SOPs) for alert management, incident management, forensics, report management, log storage and archiving, besides devising business continuity and patching plans for the company.

Managed security services – EY India

As a result, the company is not only able to prevent active threats, but also conduct analysis on potential vulnerabilities. Besides that, the company has been able to transition multiple non-core parts of the cybersecurity management process to the MSS. These include identity management, antivirus management, mobile device management and intrusion prevention.

Role of AI and ML in cybersecurity

Direct to your inbox

Stay up to date with our Editor's picks newsletter. 

Subscribe

Contact us

Like what you’ve seen? Get in touch to learn more.