An industry revolution as cyber becomes the dominant peril


An industry revolution as cyber becomes the dominant peril

The cyber insurance market is booming. As an expert from CyberCube tells the Re/insurance Lounge, technology brings solutions as well as problems, and insurtech could be key to helping underwriters, brokers and others cope with the surging demand.

Cyber risk analytics specialist CyberCube brings together two of the most striking trends in the insurance industry today: the rise of insurtech, which in 2020 had a record year for funding and deals, and the growth of cyber insurance, among the fastest areas of premium growth, with a market expected to see more than 20 percent annual growth over the next few years.

COVID-19 and the move to remote working has turbocharged already fast-growing markets. To discuss the opportunities as well as threats—and CyberCube’s approach to both—Intelligent Insurer’s online platform, the Re/insurance Lounge caught up with Ross Wirth, the company’s head of client management and technology services.

As he explained, despite the substantial growth in cyber cover and the technology to deal with it, we may still be very much at the beginning of both.

CyberCube, Technology, Cyber, Cyber Risk Analytics, Insurance, Reinsurance, COVID-19, Ross Wirth, UK

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