Cyber security insurance policies aid to cope-up with the financial loses which rise due to the cyber incidents. Additionally, the risk includes payment for the legal help, crisis communicators and the consumer refunds or the credits. The organization comprises below 250 employees and are known as SMEs and the companies that have more than 250 employees is known as Large Enterprise according to the survey.
Microsoft and At-Bay collaborated to provide data driven cyber insurance compensation with the help of decision making assistance to the market and also the organizations over the world approach a comprehensive method to reinforce their hybrid workforce with stronger, main visibility and also the control over the cloud devices, hence, rising the security and the productivity which is expected to drive the growth of the global cyber security insurance market.
The insurers are working on the precise and appropriate criteria for the cyberattacks and the effect of new technologies such as the IoT activities. Cyber insurance compensation can prove to be effectiveless and also it can expose the firms to certain damage, if the huge cyberattacks take place without any proper defined threats and a thought regarding its effects on the insurers is hampering the growth of the global cyber security insurance market.
The Artificial Intelligence or the Machine Learning permits the business to detect the patterns and advance the in-depth risk intelligence to obstruct the recurring threats and attacks. The usage of AI is not only restricted to scanning and pattern detection it is also expected to helpful in making social engineering , ransomware attacks and malware.
Key features of the study:
- This report provides in-depth analysis of the global cyber security insurance market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) 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.
- Global Cyber Security Insurance Market, By Organization Size:
- Small and Medium Enterprises (SMEs)
- Large Enterprises
- Global Cyber Security Insurance Market, By End-User Industry:
- IT and Telecom
- Other End-user Industries
- Global Cyber Security Insurance Market, By Geography:
- North America
- Rest of the World