Whether you think of cyber as an exciting opportunity or a daunting challenge, it is clear at this point that the risk is relevant to every insurer. As more of life and business moves online, more premium will move to cyber policies and more cyber risk will invade other lines. In short, every underwriting organisation needs to find a sustainable way to manage cyber risk.
That task has been made no easier with the explosion of cybercrime in recent years. The majority of businesses lack the basic risk management capabilities to fight back, making the success of cyber attackers a matter of not if, but when. Against this backdrop, what is the path to developing a sustainable environment for risk assessment, data analysis, and underwriting profit?
During a session at Underwriting Innovation USA on November 12, Xing Xin, co-founder and chief executive officer of Paladin, will be discussing with Meghan Hannes, cyber technology E&O product head of Hiscox USA, the right tools that can turn this challenge into the insurance industry’s greatest opportunity.
He spoke to Intelligent Insurer ahead of the event.
Why do some insurers view cyber insurance with trepidation?
If you…
