21 Oct 2026
When Your AI Gets Your Bank Details
In the same week, insurers started plugging their policies into AI chatbots and AXA’s experts named AI the biggest risk we face. That’s the first time it has come ahead of climate change. Then hackers turned the fridges in hundreds of French supermarkets into ovens.
So yes, it was a bit of an AI episode. Again.
We started somewhere sillier, with the new Tesla Roadster. Neither of us could tell if the videos were real or AI. Either way it’s very Fifth Element. Nige, our resident car nut, reckons the much-mocked Jaguar Type 00 will be a massive hit. Matt thought the new Porsche looked like every other Porsche. He is not a car person.
Coverdash, a US insurtech that sells cover to small businesses, has launched a Claude connector. Customers can ask about their cover and change their policy without leaving the chat. It’s the first one we’ve seen. Why Claude and not ChatGPT? Probably the same reason apps used to launch on iPhone first. You’ve got to start somewhere.
Airbnb and Chubb have launched rain cover for holidaymakers from ten European countries. If it rains enough during your stay, you get paid automatically, anywhere from €50 to €1,000 a day. No claim form, no arguing with anyone. We love simple ideas like this. Nige’s fair challenge is that it’s more cover for people who can already afford a holiday, not protection for people who have none. It’s also not available in the UK, which is bad luck for Matt. His Menorca forecast says rain from the day he lands to the day he leaves.
AXA’s Future Risks Report is worth a read. Climate hasn’t gone anywhere, but AI is now top of the experts’ list. Our worry is that reports like this turn into a talking shop. The industry is very good at describing risk and much slower at doing something about it.
The French fridges are a good example. Hackers got into the refrigeration systems at hundreds of supermarkets. Rather than switching them off, they turned the heat up to 50°C. Stock was ruined and fires started. So you’ve got a connected device, a cyber attack and real physical damage. Who pays? We don’t think anyone has a tidy answer yet.
That led to the bigger question: how much do we trust the stuff we’re connecting? Matt has given a personal AI agent access to his Revolut account. It has a spending cap and goes nowhere near his work email. Some of his mates have gone a lot further. Meanwhile Meta and Sierra’s Personal Agent Protocol (Poppy, to its friends) keeps signing up banks and insurers, with GEICO and Liberty Mutual among them. Nige read that Revolut is building its own agent. Why bother when you could plug into someone else’s? Matt’s answer: “It’s better to own the party than attend the party.”
There’s also an unplanned detour into why poppies bloomed on the First World War battlefields. You’ll have to listen for that one!
Then it stops being an insurance podcast. Nige has started adult swimming lessons. He says his current technique looks “like the dog’s about to die”, and he has said “half Ironman” out loud, on the record. We’ve both signed up for Metrix in April.
And Matt is spending his holiday running 50 miles of the coastal path round Menorca. In 60mph gusts. Against Claude’s advice. And anticlockwise, which for some reason is the bit bothering him most.
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Matt & Nige
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