Modern Insurance Magazine Issue 65

INSURTECH
QIs AI a friend, foe, or both? Can AI help detect and react
to a breach in real time? Conversely, what is the threat
of AI in the hands of a cybercriminal?
A
Definitely both! AI is here to stay, and if companies
are not considering how to use AI within their
business, they are going to fall behind. I think AI
can really help to manage cybersecurity, particularly with
the amount of large data that cybersecurity professionals
have to continuously comb through. There’s a lot of risk
with these large language models given the amount of
potential for storage of personal data. We have seen
threat actors use AI for social engineering or phishing
attacks already, as well as building and embedding
malware. We have also seen ‘deep fakes’, where criminals
use AI to produce extremely believable fake images or
replicate voices to trick employees into transferring funds.
There is so much more to come with AI.
QWhat advice do you have for the C-suite and Boards
of Executives when it comes to working together and
collaborating against mounting cybersecurity risk?
I think within your question, mention of the word
‘collaboration’ is key. The C-suite, as well as various
A business committees and Boards, should be working
closely together as they manage their organization’s
cybersecurity risk. I would also recommend utilizing a
third party for threat intelligence if companies do not
have an internal threat intel team on staff. Lastly, I would
recommend joining an industry peer group to discuss
how similar companies are handling certain exposures.
Another company may offer a perspective that they did
not consider before.
QIn 2022, you were promoted to Senior Cyber
Underwriter at AXA XL - congratulations! Do you have
any advice for women who are just starting out in their
cyber career?
A
My advice is to be yourself and be confident in
your abilities. Ask questions and continue to be
a student, especially in cyber where change is
constant! Understand your strengths and lead with
them, while also challenging yourself to work on your
weaknesses. Lastly, be patient with yourself. Growth
and success will come if you continue to show up and
consistently perform.
Q
What’s next for Caitlin?
A
I’m excited to be taking on several new challenges
in 2024. I will be participating on my first panel
discussion at Cyber Defense Summit, a
pre-conference event for InsurTech Hartford. I’m also
on the committee for the ‘Women in Cyber Insurance’
group, spearheaded by Willis Towers Watson, and I will
be attending the conference in May. I conducted my first
webinar training for PLUS University earlier this year, and
have another Cyber 101 webinar scheduled for later in
2024. Lastly, I will have my first direct report soon, with
our summer intern joining us in June. I’m excited to try
new things and get out of my comfort zone with some
of these new experiences in order to further my personal
growth. I will also continue to be a leader within our
underwriting team, and I look forward to helping some
of our more junior underwriters starting out in cyber
insurance!
Caitlin Alpern is a Senior Cyber and
Technology E&O underwriter on the
Northeast team of AXA XL. She has close to
8 years of experience underwriting cyber and
technology risks. Caitlin manages a book of
around $20M in premium, working on both
new business and renewals. Ms. Alpern has
her Cyber COPE Insurance Certification from
the Heinz College Information Systems and
Public Policy from Carnegie Mellon University.
Caitlin is also a Registered Professional
Liability Underwriter. She has 12 years of
underwriting experience, and was also a
broker at Marsh for two years, working as a
client advisor on public director’s & officers’
liability. Caitlin recently joined the ‘Women in
Cyber Insurance’ Group committee that was
recently launched by Willis Towers Watson.
Caitlin lives outside Hartford, in the US state
of Connecticut.
Caitlin Alpern,
Senior Cyber Underwriter, AXA XL
MODERN INSURANCE | 71