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Insurance Journal Podcast Interview: How a Social Media Fad Is Turning into a Cyber, Fraud Risk for Insurers

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Anyone who uses social media has probably come across deepfakes, which refer to media such as videos, photos or audio that have been modified using artificial intelligence.  Deepfakes have become increasingly common in entertainment, internet memes and social media over the past few years. However, as the technology becomes more advanced, it’s raising questions over the impact to insurers as they attempt to fight fraud or prepare for cyber attacks.

“Deepfakes are a moving target, and I mean, if we want to talk about the insurance industry, it’s probably something that was viewed as sort of this novelty out on social media for a while,” says Nicos Vekiarides, CEO and co-founder of software company Attestiv, in this episode of the Insuring Cyber Podcast.

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Nicos Vekiarides

Nicos Vekiarides

Nicos Vekiarides is the Chief Executive Officer & co-founder of Attestiv. He has spent the past 20+ years in enterprise IT and cloud, as a CEO & entrepreneur, bringing innovative new technologies to market. His previous startup, TwinStrata, an innovative cloud storage company where he pioneered cloud-integrated storage for the enterprise, was acquired by EMC in 2014. Before that, he brought to market the industry’s first storage virtualization appliance for StorageApps, a company later acquired by HP.

Nicos holds 6 technology patents in storage, networking and cloud technology and has published numerous articles on new technologies. Nicos is a partner at Mentors Fund, an early-stage venture fund, a mentor at Founder Institute Boston, where he coaches first-time entrepreneurs, and an advisor to several companies. Nicos holds degrees from MIT and Carnegie Mellon University.

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Mark Morley

Mark Morley

Mark Morley is the Chief Operating Officer of Attestiv.

He received his formative Data Integrity training at Deloitte. Served as the CFO of Iomega (NYSE), the international manufacturer of Zip storage devices, at the time,  the second fastest-growing public company in the U.S.. He served as the CFO of Encore Computer (NASDAQ) as it grew from Revenue of $2 million to over $200 million. During “Desert Storm”, Mark was required to hold the highest U.S. and NATO clearances.

Mark authored a seminal article on Data Integrity, that was published in the online Wall Street Journal. Additionally, he served as EVP, General Counsel and CFO at Digital Guardian, a high-growth cybersecurity company.

Earlier in his career, he worked at an independent insurance agency, Amica Mutual Insurance Company as a claims representative, and later, was the CEO of the Bermuda captive insurance subsidiary of a NYSE company. Also, he was the president of WorldPath Health, an international healthcare company.

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