Modern Insurance Magazine Issue 65

INSURTECH
UConn
School of Business
QLaurissa, it was so great to see you on the
conference circuit this spring! I see that the
University of Connecticut School of Business
is launching its own Cyber Security Connect
Conference. What was the inspiration behind this
initiative? What sort of takeaways can the audience
expect?
A
It’s always great to see you as well, Megan! The
inspiration behind our Cyber Defense Connect
conference, launched on April 16th, stems from
the escalating importance of cyber risk and security
across various business sectors. These issues aren’t
just confined to IT experts; they affect everyone.
Our aim is to equip both cyber and non-cyber
professionals with essential knowledge on identifying
risks, protecting themselves and their businesses,
and effectively responding to cyber threats.
At Cyber Defense Connect, attendees engaged in
an interactive cyber-attack simulation, followed by
a comprehensive review covering the Readiness,
Resiliency, Response and Recovery aspects of cyber
defense. We were honored to host some of the
leading experts in the field, who generously shared
their insights and expertise.
QHow is cybersecurity becoming a focus for the
students at UConn - not just now, but also once
they are out in the workforce?
A
Cyber is everyone’s business. Just look at the
headlines for the week, and no doubt you will
see a news story about a widescale breach.
With that in mind, we’ve integrated cyber awareness
across the curriculum for our UConn School of
Business STEM programs. We’re actively fostering
partnerships, such as the recent Memorandum of
Understanding (MOU) between our MS FinTech
program and UConn’s Computer Science department.
This collaboration provides cybersecurity electives
for FinTech students, ensuring our students are wellequipped
for the cybersecurity challenges they’ll
face in the workforce. As we know, it is also one of
the main emerging risks, and relates directly to our
newly revamped MS in Financial & Enterprise Risk
Management program curriculum.
QWhat are some emerging cybersecurity trends that
we should be aware of, and prepared for?
A
At UConn, the biggest one we hear about
relates to the convergence of AI, particularly
Gen AI and Cyber. As you are well aware, that
evolution is a dynamic one, and we are paying close
attention to ensuring that our curriculum and
out-of-classroom experiential opportunities are as
up to date as possible.
In addition, we have started to partner with some
industry experts in Quantum Computing. While I feel
we are a few years away from everyday applications
of QC, it’s clear that its capabilities will introduce a
whole additional level of complexity and need for
awareness as it relates to Cyber.
QWhat are some of the most pressing cybersecurity
issues facing the insurance industry in particular?
How often should insurance companies conduct
security assessments and vulnerability testing?
A
There are really two issues, but one is more of
an opportunity than an issue. The first is the
threat of attack itself. Just like every other
enterprise, insurance companies have the threat of
cyber-attacks, ranging from direct system breaches
to attacks on IoT devices utilized for risk mitigation.
These threats demand proactive defense measures.
Secondly, the emergence of new players in the cyber
insurance market presents both challenges and
opportunities. Those entrants, in order to mitigate
risk for all, will need to continue to invest in Cyber
Defense. That approach will provide benefits for
everyone.
To mitigate these risks effectively, insurance
companies should conduct regular security
assessments and vulnerability testing. The frequency
of these assessments should align with industry
standards and evolving cyber threats, ensuring timely
detection and mitigation of vulnerabilities.
74 | MODERN INSURANCE