In this episode, Paige Estritori updates on the financial services sector. She discusses how autonomous vehicles are reshaping the insurance landscape with companies like Howden Re predicting a shift from conventional motor insurance to product liability insurance. In cybercrime news, due to the rise of AI models and ransomware as a service, more robust digital security measures are urgently required, despite Australia's government target to be the most cyber-secure nation by 2030. Cybersecurity leader, Coalition, introduced Coalition Re, a reinsurance intermediary assisting with accurate insurance contract pricing and better understanding of cyber risks. Lastly, AustralianSuper is scrutinised following a $1.1 billion loss from investing in Pluralsight, raising concerns over superannuation funds in private tech firms. Despite this, AustralianSuper justifies its private equity stance, and the Australian Prudential Regulation Authority aims to refine investment governance.
