How carriers can unlock the multi-billion dollar cyber marketplace

Insurers require better collection, aggregation and sharing of cyber insurance premium, loss and exposure data to meet the need for more detailed and accurate risk assessment and pricing.

By Maroun Mourad | Updated on August 11, 2016

Why hasn’t the cyber insurance take-up rate been greater and become a staple of the insurance industry? That is the multibillion-dollar question today.

The irreversible trend of a growing reliance on internet-based data flow and storage of information to capitalize on greater efficiencies and deeper insights has led to an increased number of cyber breaches and attacks. These incidents have become so frequent, widespread and costly in recent years that they’re considered one of the fastest-growing concerns in the insurance industry. Cyber risk consistently ranks atop leading emerging risks analyses.

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