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Cyber security insurance policies help to cope-up with the financial loses which increase due to the cyber incidents. Additionally, the risk includes payment for the legal help, crisis communicators and the consumer refunds or the credits.

Market Dynamics:

Consumers are increasingly using public clouds and loading their personal information into several mobile apps to be able to conveniently shop, bank, communicate, and use other services over the devices to avoid data breaches is anticipated to boost the growth of the global cybersecurity insurance market. For instance the ITRC published a report in 2022 which stated there were 1,789 data breaches found in US. Blockchain and AI are two current emerging technologies anticipated to improve risk analytics software's capabilities and open up new commercial prospects. Integrating these technologies with risk analytics solutions would address some key concerns and issues that cybersecurity insurance organizations confront. This is expected to boost the growth opportunities of the market.  

On contrary, the coverage and price sensitivity severely limits insurer growth and profits over the long term. This negatively affects the growth of the various vertical industries in the market and is projected to hamper the growth of global cybersecurity insurance market.  

Key features of the study:

  • This report provides in-depth analysis of the global cyber security insurance market, and provides market size (US$ 9.29 Bn) and compound annual growth rate (21.1%) for the forecast period (2022–2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global cyber security insurance market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Major companies operating the global cyber security insurance market are Berkshire Hathaway Inc., XL Group Ltd, Munich Re Group, Aon PLC, The Chubb Corporation, American International Group Inc., Allianz Global Corporate & Specialty, Zurich Insurance Co. Ltd, Lockton Companies Inc., Bin Insurer Holding LLC and SecurityScorecard Inc.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global cyber security insurance market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global cyber security insurance market.

Detailed Segmentation:

  • Global Cyber Security Insurance Market, By Organization Size:
    • Small and Medium Enterprises (SMEs)
    • Large Enterprises
  • Global Cyber Security Insurance Market, By End-User Industry:
    • Healthcare
    • Retail
    • BFSI
    • IT and Telecom
    • Manufacturing
    • Other End-user Industries
  • Global Cyber Security Insurance Market, By Geography:
    • North America
    • Europe
    • Asia-Pacific
    • Rest of the World
  • Company Profiles:
    • XL Group Ltd
    • American International Group Inc.
    • Berkshire Hathaway Inc.
    • Zurich Insurance Co. Ltd
    • The Chubb Corporation
    • Aon PLC
    • Bin Insurer Holding LLC
    • Lockton Companies Inc.
    • SecurityScorecard Inc.
    • Allianz Global Corporate & Specialty
    • Munich Re Group

Detailed Segmentation:

  • Global Cyber Security Insurance Market, By Organization Size:
    • Small and Medium Enterprises (SMEs)
    • Large Enterprises
  • Global Cyber Security Insurance Market, By End-User Industry:
    • Healthcare
    • Retail
    • BFSI
    • IT and Telecom
    • Manufacturing
    • Other End-user Industries
  • Global Cyber Security Insurance Market, By Geography:
    • North America
    • Europe
    • Asia-Pacific
    • Rest of the World

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