Adoption of Artificial Intelligence and Blockchain Technology for Risk Analytics Presents Opportunities

Global cybersecurity insurance market

Dublin, 06 July 2022 (GLOBE NEWSWIRE) — The “Cybersecurity Insurance Market by Component (Solutions and Services), Type (Standalone and Packaged), Coverage (Data Breach and Cyber ​​Liability), Organization Size, End User (Technology and Insurance), and Region – Global Forecast up to ‘in 2027’ report has been added to from ResearchAndMarkets.com offer.

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

By insurance coverage, cyber liability segment is expected to hold larger market size during the forecast period
Cyber ​​risk insurance or cyber liability insurance coverage helps an organization cover the cost of recovering from a data breach, virus, or other cyber attacks. Cyber ​​liability insurance covers first party expenses as well as third party claims. The cybersecurity insurance policy covers certain out-of-pocket expenses such as investigations, business losses, lawsuits and extortion, as well as confidentiality and notification.

The growing sophistication of cyberattacks and stringent regulatory mandates are persuading businesses to proactively adopt cybersecurity assurance solutions. Cyber ​​liability coverage policies can help insurers offer first-party and third-party cyber coverage to prevent the after effects of a security breach that could lead to critical business losses.

Main topics covered:

1. Introduction

2 Research methodology

3 Executive summary

4 premium previews
4.1 Rise in Cyber ​​Attacks and Ransomware to Drive Market Growth
4.2 Cyber ​​Security Assurance Analytics Platforms and Cyber ​​Liability Segment to Account for Largest Market Size in 2022
4.3 Cyber ​​Security Assurance Analytics Platforms and Cyber ​​Liability Segment to Account for Largest Market Size in 2022
4.4 Cybersecurity Insurance Analytics Platforms and Cyber ​​Liability Segment to Account for Largest Market Size in 2022
4.5 Singapore to grow at the highest rate during the forecast period

5 Market Overview
5.1 Market Dynamics
5.1.1 Drivers
5.1.1.1 Rise in Mandatory Cybersecurity Regulations and Legislation to Drive Demand for Insurance Protection
5.1.1.2 High Financial Loss Recovery Rate to Promote Market Growth
5.1.1.3 Increasing frequency and sophistication of cyber threats
5.1.2 Constraints
5.1.2.1 Lack of Cybersecurity Insurance Awareness and Reluctance to Choose Cybersecurity Insurance Over Cybersecurity Solutions
5.1.2.2 Skyrocketing cybersecurity insurance costs
5.1.3 Opportunities
5.1.3.1 Exclusion of cybersecurity insurance coverage from property and casualty insurance
5.1.3.2 Adoption of Artificial Intelligence and Blockchain Technology for Risk Analytics
5.1.4 Challenges
5.1.4.1 Cyberinsurers struggle to gain ground despite skyrocketing cybersecurity risks
5.1.4.2 Data Privacy Concerns
5.1.4.3 Lack of understanding, technical knowledge and lack of historical cyber data for effective underwriting
5.3 Value chain analysis
5.4 Ecosystem
5.5 Average selling price trend
5.6 Technology Analysis
5.7 Regulatory Implications for Cybersecurity
5.8 Use cases
5.9 Patent analysis
5.10 Porter’s five forces model

6 Cybersecurity Insurance Market, By Component
6.1 Presentation
Dimension 6.1.1: Market Drivers
6.1.2 Component: Impact of COVID-19
6.2 Workarounds
6.2.1 to provide high data security and prevent data breaches
6.2.2 Cybersecurity Assurance Analytics Platforms
6.2.3 Disaster recovery and business continuity
6.2.4 Cybersecurity 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 Consultation/Advice
6.3.3 Security Awareness Training
6.3.4 Other Services

7 Cybersecurity Insurance Market, By Insurance Coverage
7.1 Presentation
7.1.1 Insurance coverage: market drivers
7.1.2 Insurance coverage: impact of COVID-19
7.2 Data Breach
7.2.1 to protect businesses against security breaches and cyberattacks
7.2.2 Data loss
7.2.3 Denial of Service and Downtime
7.2.4 Ransomware attacks
7.2.5 Other suppliers
7.3 Cyber ​​liability
7.3.1 to reduce data recovery costs following data breaches and cyberattacks
7.3.2 Typology
7.3.2.1 Costs of data protection and privacy
7.3.2.2 Penalty for non-compliance
7.3.2.3 Protection of the brand and related intellectual property
7.3.2.4 Other type of cyber liability
7.3.3 Source/Target
7.3.3.1 Internal
7.3.3.2 External

8 Cyber ​​Security Insurance Market, By Insurance Type
8.1 Presentation
8.1.1 Types of insurance: market drivers
8.1.2 Types of insurance: impact of COVID-19
8.2 Packed
8.2.1 to enhance digital transformation and support traditional policies
8.3 Autonomous
8.3.1 to manage complex cyber risks and improve cyber risk protection

9 Cybersecurity Insurance Market, By Organization Size
9.1 Presentation
9.1.1 Organization Size: Market Drivers
9.1.2 Size of organization: impact of COVID-19
9.2 Large companies
9.2.1 Large Enterprises Developing Strong Security System to Prevent Cyberattacks
9.3 Small and medium enterprises
9.3.1 to reduce financial losses due to cyberattacks

10 Cybersecurity Insurance Market, By End User
10.1 Presentation
10.1.1 End Users: Market Drivers
10.1.2 End Users: Impact of COVID-19
10.2 Technology Providers
10.2.1 The need for cybersecurity insurance packages has increased to support digital transformation
10.2.2 End Users: Cyber ​​Security Insurance Market Drivers
10.2.3 Insurance companies
10.2.4 Third Party Administrators, Brokers and Consultants
10.2.5 Government Agencies
10.3 Insurers
10.3.1 to purchase insurance policies to improve organizations’ cybersecurity systems
10.3.2 Financial services
10.3.3 Healthcare 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 cited

The story continues

• Accenture

• AIG

• Allianz

• AON

• Arceo

• Arthur J. Gallagher

• At the bay

• Offensive

• AXA XL

• Axis Capital

• Beazley

• Bitsight

• Broadcom

• Checkpoint

• Chubb

• Cisco

• CNA

• Coalition

• Cronus Cyber ​​Technologies

• Cyber ​​compensation solutions

• cyberark

• Cybernance

• CYE

• Cyence (acquired by Guidewire Software)

• Cylance

• Fairfax

• eye of fire

• Founder Shield

• Profiles of insurers

• Kovrr

• Liberty Mutual Holding

• Lloyd’s of London

• Lockton

• Microsoft

• Munich RE

• Frequent

• red seal

• Sense of risk

• Safebreach

• Sayata Laboratories

• Security

• Security Assessment Sheet

• Sentinel

• Sompo International

• Travelers

• Upguard

• Zeguro

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

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