Macroeconomic trends, such as inflation and interest rates, had the biggest impact on insurance companies, according to North American executives surveyed. Credit: pdusit/Adobe Stock
For 40% of global insurance company executives, cybersecurity risks are the biggest trend affecting their businesses, according to Earnix, which surveyed 400 executives from a range of departments, including C-level, IT, underwriting and product, at global insurance companies.
The survey results, Earnix noted, show that insurers realize more needs to be done to protect consumer data and comply with the growing list of data privacy regulations. This becomes even more pressing as the industry continues to grow into new digital channels, while grappling with an increase in cyberattacks.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
