Articles - Plug the cyber education gap with effective risk management


According to Munich Re’s Global Cyber Risk and Insurance Survey (2021), the global cyber insurance market is likely to reach a value of approximately $20 billion by the year 2025. To successfully exploit this growth, insurers and brokers need to effectively grasp accurate cyber underwriting, and the distribution of cyber insurance to companies large and small. These pertinent themes will be two key areas of focus at Intelligent Insurer’s upcoming Commercial Lines Innovation Europe event (October 11–13).

 Transform the profitability of your cyber book—attend Commercial Lines Europe 

 

 Cyber Innovators Convene at the Premier Commercial Lines Event this October to Share their Insights on Underwriting and Distributing Cyber Products

 Attendees will benefit from hearing from the top names in cyber on how to grow their cyber book and plug the education gap with effective risk management services. Plus, tune in to several keynotes which delve deeper into the cyber insurance opportunity.

 Gain access to topical cyber content—reserve your place at the commercial lines event here

 You’ll hear from the leading minds in cyber insurance:

 • Siobhan O’Brien, Managing Director, Cyber Centre of Excellence Leader, Guy Carpenter
 • Maya Bundt, Head Cyber & Digital Solutions, Swiss Re
 • Justyna Pikinska, Head of Analytics, Gallagher Re
 • James Tuplin, SVP, Head of International Cyber Underwriting, Mosaic Insurance
 • Shannan Fort, Partner–Financial Lines, McGill and Partners
 • Julia Graham, Chief Executive Officer, AIRMIC
 • Shanil Williams, Global Head of Financial Lines, Allianz Global Corporate & Specialty
 • Gary Nuttall, Emerging Technology Consultant & Managing Director, Distlytics
 • Shay Simkin, Global Head of Cyber, Howden

 To hear from these cyber experts, secure your place now (free for insurers/brokers)

 Agenda highlights include two dedicated cyber panels:
 

 Plug the cyber education gap with effective risk management services
 • Ensure underwriters collaborate effectively with broker partners to close the education gap on cyber risk, create customer feedback loops to keep on top of a fast-evolving landscape with new and emerging threats, and use these insights to better advise and educate insureds

  
 • Reduce the complexity of cyber products to make it easier for businesses to buy direct and simpler for brokers to compare and explain coverage, and tap into growth opportunities in an underinsured market by giving brokers the tools they need to answer queries on price and coverage, and handle common objections
  
 • Improve the validity of customer data by developing more frictionless ways to obtain information, such as pre-populating forms with publicly available data, and provide risk insights at the point of quote to encourage honest disclosure
  
 • Deliver more than just a cyber policy with valuable risk management services, including instant risk assessment, vulnerability reports, and cyber awareness training, and support insureds to implement protections for key entry points as part of a comprehensive risk engineering approach
  
 • In the absence of historical data, understand how you can use AI to keep up with evolving risks and action next steps, based on calculations of long-term damage to intangible assets such as goodwill and reputation
  
 Transform the profitability of your cyber book with new tactics for predicting and mitigating loss
  
 • Tackle the deadly combination of scant historical data and partial or inaccurate customer data, and debate strategies for accessing, ingesting, and analysing external real-time data feeds with AI and machine learning to validate self-reported data, remove bias, and obtain a more complete view of cyber risk
  
 • Define the key cyber perils in portfolios that will be the most likely drivers of accumulated risk, identify the assets that are most susceptible to systemic cyber events and then define strategies for mitigation
  
 • Understand the importance of risk management services in transforming the profitability of your cyber book, work collaboratively with brokers and insureds to develop a value proposition beyond the policy, and co-create innovative tools, including vulnerability reports and cyber awareness training to inform risk assessment and prevent losses occurring
  
 • Address the threat of critical infrastructure being hit by a catastrophic cyber incident and debate how the insurance industry can respond to the growth of the internet of things and 5G as the number of connected points increases and bandwidth grows
  
 As the frequency and severity of cyber events continues to plague companies large and small, do not miss this opportunity to discuss how insurers can better help their clients to navigate this growing threat to their business.
  
 We look forward to welcoming you to the event in November.
  
 For more information contact:
  
 Helen Raff
 Head of Research
 Intelligent Insurer
 Direct line: +44 (0)203 301 8244
 Email: hraff@newtonmedia.co.uk
  
  

Back to Index


Similar News to this Story

Why do so few divorces result in a pension sharing order
According to the Manchester Institute for Collaborative Research on Ageing (MICRA), only 5-6% of divorces result in a pension share. This is despite
What will COP26 mean for investment
A panel discussion with investment representatives discussing the impact of investment on climate change and vice versa. This event is part of The Roa
How insurers can play a more critical role in climate change
Insurance sector communities have invaluable expertise and resources to address society’s climate challenges, but that experience is not fully underst

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.