Implications for Australian insurance markets
The research points to intersecting themes: concern about AI-enabled crime, broader use of AI-driven reconnaissance, uneven organisational readiness, and limited consumer capability to detect synthetic content. On the retail side, exposure to deepfake-enabled scams may influence claims experience for cyber extensions on home and contents policies, standalone personal cyber covers, and fraud-related benefits on banking and card products. For small and medium-sized enterprises, the combination of AI-enabled business email compromise, payment redirection, and executive impersonation underlines the role of controls such as call-back verification, dual authorisation, and documented change-of-details procedures, often tied to crime, cyber, and social engineering coverage conditions.