“Cybercriminals adapt at the speed of innovation. Every new technology presents an opportunity. If businesses don’t adopt defensive tools quickly enough, those same innovations become liabilities. That’s why agility in cyber defense matters just as much as strength.” added Jardine.
It’s this arms race between cyber defenders and attackers that helped shape the BOXX Cyberboxx 5.0 Policy and their risk intelligence tools. Jardine is also quick to point out that AI isn’t causing a reprice of policies.
“We’re not repricing policies for AI—we’re preparing for what cyber will look like tomorrow,” he said. “Our coverage is designed to adapt to emerging threats, whether they come from AI, cloud vulnerabilities, or third-party breaches. Clients need confidence that their policy won’t be outdated the moment a new technology hits the market.”
The company’s forward-thinking mindset is especially important in today’s world of sophisticated phishing and social engineering attacks powered by generative AI. According to data from Viking Cloud, up to 98% of cyberattacks – against businesses and otherwise – involve social engineering. What’s more, cybercrime at large is set to cost global businesses up to $10.5 trillion this year and could climb as high as $15.63 trillion by 2029. It’s an evolving threat that Jardine and his team are all too aware of.
“Ten years ago, phishing emails were riddled with spelling errors,” he said. “Today, generative AI creates messages that are grammatically perfect and emotionally persuasive. Users need new instincts, not just a checklist, to detect these threats”
Here, part of BOXX’s value isn’t just offering insurance, it’s helping clients recognize new threats.
“The scariest part of AI-driven scams is they’re not limited to texted; they can sound exactly like someone you know,” Jardine said. “We’ve seen deepfake voices used to impersonate CEOs and family members. Trust is being weaponized, and businesses need to train their teams to question even the most familiar voices.”
And yet, despite the sophistication of current threats, Jardine remains focused on fundamentals.
“Unlike traditional perils like fire or theft, cyber threats evolve daily,” he noted. “Criminals invest 100% of their resources into exploiting weaknesses while businesses often split theirs across dozens of priorities. That imbalance is why insurance must do more than cover, it must help clients stay ahead.”
This reality is pushing BOXX and the broader insurance sector to continuously evaluate what protection means in the digital age.
“If you’re insuring physical assets but ignoring your digital ones, you’re living in the past,” said Jardine. “A stolen laptop is replaceable. But if your systems are encrypted or your data is leaked, the damage goes far beyond dollars, it’s reputation, trust, market share.”
AI, again, is a double-edged sword. It enhances the ability to detect, prevent, and respond to threats, but it also empowers adversaries to automate and scale their attacks.
“AI is enabling cybercriminals to scan the internet for vulnerabilities, exploit them in seconds, and deploy ransomware before a human ever gets involved. In many cases, the first human contact is when the victim calls the criminal’s ransom hotline. That’s how automated it’s become,” revealed Jardine.
Because, astonishingly, the first human interaction might occur only after the breach. “The first human touchpoint with threat actors in a ransomware attack might be when you call the attacker. Everything before that, the breach, exploit, and encryption may be fully automated,” Jardine warned.
In such a world, where threats are fast, faceless, and fully automated, the human element becomes even more critical, something that’s reflective of sector sentiment at large. Data from RDT found that while clients appreciate the speed of AI, overall human touch is still incredibly important. Their research highlighted that 88% of clients interviewed are adamant that AI should only be used to augment, rather than replace, human decision making. Similarly, Jardine cautions against relying solely on AI-driven defense.
“AI can sort data and spot patterns, but it takes human judgment to understand intent,” said Jardine. “The best defence isn’t AI or human, it’s both working together. That’s how we train our systems and our clients: to partner with technology, not blindly trust it.”
And, looking ahead, Jardine is pragmatic about the ongoing arms race. BOXX’s role, he explained, is to build digital resilience amongst its clients and be their partner in cyber defense and recovery.
“Our job isn’t to find perfect clients, it’s to build partnerships where risk is understood and managed,” he said. “If we can help clients get to a stronger cybersecurity posture, we all win. Insurance isn’t just about loss transfer, it’s about preventing it.”
To learn more about how BOXX Insurance can transform your cyber security, complete an easy contact form to speak to an expert, get a demo, or find a Broker to get more information on Cyberboxx Business here.
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