Accelerating Cyber Insurance Growth Through Risk Quantification
The adoption of cyber insurance is on the rise. According to a recent Marsh & McLennan survey, 47% of organizations indicated that they have cyber insurance, up from 34% in 2017*. In addition, 89% of them were confident that their policies would cover losses caused by a cyber event. But, although cyber insurance has gained significant momentum, investment in traditional cyber prevention technology has far outpaced cyber insurance spending...
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Smart Underwriting for Cyber Risk in the Small Business Market
To quickly grow their business in a highly competitive market, insurers frequently consider adding a new insurance line or entering a thriving new market. Why not do both? For example, they can launch an insurance product that covers new and evolving cyber risk specifically for the underserved market of small and medium-sized enterprises (SMEs)...
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Utilizing A New Underwriting Approach to Win in the Small Business Market
The small- and medium-sized business (SMB) segment represents a compelling growth opportunity for insurers. However, due to the lack of information on small businesses, a common challenge for insurers in the small business workers’ compensation market is identifying risk differentiation between similar types of small venture entities...
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A Proactive Approach to Safeguard Your Business Against 21st Century Risk
Cyber attacks have become the most prominent threat or disruption to business entities in recent years. Corporate entities are concerned about damages to their brands, the stability of revenues, and the safety and privacy for their employees and customers because criminals have become more sophisticated at figuring out standardized security and evading defenses. Specifically, cyber attacks present unprecedented challenges to 21st century enterprises because of the speed of occurrence and severity of damage, along with the enterprise’s vulnerability to keep up with the evolving complexity and volume of cyber threats.
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