Through its rapid growth, AI is dramatically reshaping the fraud and cybersecurity battleground in the insurance industry. AI and other emerging technologies are giving attackers powerful new tools such as adaptive AI agents, deepfake audio/video, hyper-personalized phishing, supply-chain exploits, and credential theft. At the same time, these technologies are empowering defenders to detect anomalies in real time, automate triage and response, hunt vulnerabilities, and predict high-risk customers and vendors at scale. The result is an arms race where insurance companies must deploy AI to combat a myriad of new threats.