The use of artificial intelligence and blockchain technology for risk analysis provides opportunities

Global market for cybersecurity insurance

Dublin, 06 July 2022 (GLOBE NEWSWIRE) – “Cybersecurity insurance market by component (solutions and services), type (stand-alone and packaged), coverage (data breaches and cyber liability), organization size, end-user (technology and insurance)) and Region – Global Forecast to The 2027 “report has been added ResearchAndMarkets.com sine Offering.

The global size of the cybersecurity insurance market in the post-COVID-19 scenario is estimated to grow from $ 11.9 billion in 2022 to $ 29.2 billion by 2027, with a CAGR of 19.6% over the forecast period.

With insurance coverage, the cyber liability segment is expected to have a larger market size in the forecast period
Cyber-risk insurance or cyber-liability insurance helps an organization cover the costs of recovering from a data breach, virus or other cyberattack. Cyber ​​liability insurance covers expenses related to first-party and also third-party claims. The cybersecurity insurance covers some reimbursable expenses such as investigation, business loss, lawsuits and extortion, and privacy and notification.

The growing sophistication of cyber attacks and strict regulatory mandates are persuading companies to proactively implement cybersecurity insurance solutions. Cyber ​​liability coverage policies can help insurers provide first-party and third-party cyber coverage to prevent the aftermath of a security breach that could result in critical business losses.

Key topics covered:

1. Introduction

2 Research methodology

3 Summary

4 Premium Insights
4.1 Increasing cyber and ransomware attacks to drive market growth
4.2 Cybersecurity Insurance Analytics platforms and cyber liability segments that will constitute the largest market size in 2022
4.3 Cybersecurity Insurance Analytics platforms and cyber liability segments that will account for the largest market size in 2022
4.4 Cybersecurity Insurance Analytics platforms and cyber liability segments that will account for the largest market size in 2022
4.5 Singapore will grow at the highest rate in the forecast period

5 Market overview
5.1 Market dynamics
5.1.1 Drivers
5.1.1.1 Increase in mandatory cyber security regulations and legislation to increase the demand for insurance protection
5.1.1.2 High degree of recovery of financial losses to promote market growth
5.1.1.3 Increase in frequency and sophistication of cyber threats
5.1.2 Restrictions
5.1.2.1 Lack of awareness related to cybersecurity insurance and reluctance to choose cybersecurity insurance over cybersecurity solutions
5.1.2.2 High cybersecurity insurance costs
5.1.3 Opportunities
5.1.3.1 Exclusion of cyber security insurance from property and non-life insurance (non-life insurance)
5.1.3.2 Use of artificial intelligence and blockchain technology for risk analysis
5.1.4 Challenges
5.1.4.1 Cyber ​​insurance companies are struggling to gain a foothold despite sky-high cyber security risks
5.1.4.2 Privacy concerns
5.1.4.3 Lack of understanding, technical knowledge and absence of historical cyber data for effective insurance
5.3 Value chain analysis
5.4 Ecosystem
5.5 Average sales price trend
5.6 Technology analysis
5.7 Regulatory implications for cybersecurity
5.8 Cases of use
5.9 Patent analysis
5.10 Porters Five Forces Model

6 Cybersecurity Insurance Market, by component
6.1 Introduction
6.1.1 Component: Market Drivers
6.1.2 Component: COVID-19 exposure
6.2 Solutions
6.2.1 to provide high data security and prevent data intrusion
6.2.2 Cybersecurity Insurance Analytics platforms
6.2.3 Disaster recovery and business continuity
6.2.4 Cyber ​​security solutions
6.2.4.1 Cyber ​​risk and vulnerability assessment
6.2.4.2 Cybersecurity resilience
6.3 Services
6.3.1 Need for professional consultants to provide 24/7 service response
6.3.2 Advice / Advice
6.3.3 Safety awareness training
6.3.4 Other services

7 Cybersecurity Insurance Market, by insurance coverage
7.1 Introduction
7.1.1 Insurance coverage: Market drivers
7.1.2 Insurance coverage: COVID-19 impact
7.2 Data breach
7.2.1 to protect the business against security and cybercrime
7.2.2 Data loss
7.2.3 Denial of service and downtime
7.2.4 Ransomware Attack
7.2.5 Other suppliers
7.3 Cyber ​​responsibility
7.3.1 to reduce the cost of data recovery from data breaches and cyber attacks
7.3.2 Type
7.3.2.1 Data protection and privacy costs
7.3.2.2 Penalty for non-compliance
7.3.2.3 Branding and related intellectual property protection
7.3.2.4 Other types of cyber liability
7.3.3 Source / target
7.3.3.1 Intern
7.3.3.2 External

8 Cybersecurity Insurance Market, by type of insurance
8.1 Introduction
8.1.1 Types of insurance: Market drivers
8.1.2 Types of insurance: COVID-19 impact
8.2 Packed
8.2.1 to enhance digital transformation and support traditional guidelines
8.3 Freestanding
8.3.1 to manage complex cyber risks and improve the protection of cyber risks

9 Cybersecurity Insurance Market, by Organization Size
9.1 Introduction
9.1.1 Organization size: Market drivers
9.1.2 Organization size: COVID-19 influence
9.2 Large companies
9.2.1 Large companies that develop a strong security system to prevent cyber attacks
9.3 Small and medium-sized enterprises
9.3.1 to reduce financial losses due to cyber attacks

10 Cybersecurity Insurance Market, by end user
10.1 Introduction
10.1.1 End users: Market drivers
10.1.2 End users: COVID-19 exposure
10.2 Technology Suppliers
10.2.1 The need for cybersecurity insurance packages has increased to support digital transformation
10.2.2 End users: Market drivers for cybersecurity insurance
10.2.3 Insurance companies
10.2.4 Third Party Administrators, Brokers and Consulting Companies
10.2.5 Government agencies
10.3 Insurance providers
10.3.1 to take out insurance policies to improve organizations’ cyber security systems
10.3.2 Financial services
10.3.3 Health care and life sciences
10.3.4 Retail and e-commerce
10.3.5 Telecom
10.3.6 Travel, tourism and hospitality

11 Cybersecurity Insurance Market, by Region

12 Competitive landscape

13 Company profiles

Companies mentioned

The story continues

• Accenture

• AIG

• Alliance

• AON

• Arceo

• Arthur J Gallagher

• On the sea side

• Attackiq

• AXA Xl

• Axis capital

• Beazley

• Bitsight

• Broadcom

• Checkpoint

• Chubb

• Cisco

• CNA

• Coalition

• Cronus Cyber ​​Technologies

• Cyber ​​Indemnity Solutions

• Cyberark

• Cybernance

• CYE

• Cyence (acquired by Guidewire Software)

• Cylance

• Fairfax

• Fire eye

• Founder Shield

• Profiles for insurance providers

• Kovrr

• Liberty Mutual Holding

• Lloyd’s from London

• Lockton

• Microsoft

• Munich RE

• Widespread

• Rødsel

• Risksosans

• Security breach

• Sayata Labs

• Securit

• Safety measurement card

• Sentinelone

• Sompo International

• Travelers

• Upguard

• Zeguro

For more information on this report, visit https://www.researchandmarkets.com/r/7a8f5s

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