DS Smith is a FTSE 100 listed company specialising in packaging solutions for a broad range of sectors, including fast-moving consumer goods.
With a huge presence across Europe and a significant footprint in the US, the company deals heavily in corrugated cardboard. It owns paper mills to manage the supply chain and operates significant recycling businesses.
As Tony Dimond, head of risk at DS Smith, put it: “If you get a cardboard box delivered to you in Europe, it’s probably been produced by DS Smith.”
SELLERS OF RISK
In a world where cyber threats are more pervasive and damaging than ever, staying ahead of constantly evolving attacks is critical for businesses. However, the traditional cyber insurance market was creating challenges for DS Smith.
As cyber threats evolved, so did the complexity of the questions insurers were asking. Worse, the methods of assessing risk were opaque and inconsistent, and didn’t appear to recognise the effort and investments to mitigate or reduce exposures.
Dimond says: “We don’t see ourselves as buyers of insurance, rather sellers of our risk. So, when insurers ask us all these questions, we want to know how they’re assessing…
