Deepfake scams force defense-in-depth strategy for Insurtech

Artificial intelligence is fundamentally transforming the threat landscape, elevating deepfake scams and synthetic identities from a cybersecurity concern to a critical business risk that directly impacts customer trust, reputation, and continuity, according to Ankit Gupta, CTO of PolicyBazaar for Business, reports Express Computer.

Gupta identifies synthetic identity creation, where fraudulent identities are constructed from non-existent individuals, as the most dangerous threat, as it bypasses traditional KYC checks and is difficult to trace. To counter this, the firm employs a defense-in-depth strategy combining advanced liveness detection, behavioral analytics, device intelligence, and in-house AI models to analyze subtle differences between genuine users and AI-driven impersonations. This is underpinned by a zero-trust architecture that verifies every interaction, enabling adaptive, risk-based security that operates invisibly for low-risk users to preserve a frictionless experience.

Gupta notes that AI has led to a 700% reported increase in scams, forcing defensive innovation, and advocates for a "federated defence" approach where insurers, enterprises, and tech providers share threat intelligence without exposing sensitive data.