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


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Global Cybersecurity Insurance Market

Global Cybersecurity Insurance Market

Global Cybersecurity Insurance Market

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

The world cybersecurity insurance coverage market measurement within the post-COVID-19 situation is projected to develop from USD 11.9 billion in 2022 to USD 29.2 billion by 2027, at a CAGR of 19.6% in the course of the forecast interval.

By insurance coverage protection, the cyber legal responsibility section is anticipated to carry a bigger market measurement in the course of the forecast interval

Cyber danger insurance coverage or cyber legal responsibility insurance coverage protection helps a company cowl the fee to recuperate from a knowledge breach, virus, or different cyber-attacks. Cyber legal responsibility insurance coverage covers bills associated to first events and in addition third-party claims. The cybersecurity insurance coverage coverage covers some reimbursable bills similar to investigation, enterprise losses, lawsuits and extortion, and privateness and notification.

The rising sophistication of cyber-attacks and stringent regulatory mandates persuade enterprises to proactively undertake cybersecurity insurance coverage options. Cyber legal responsibility protection insurance policies can help insurers to supply first-party and third get together cyber protection to forestall from the put up results of a safety breach that might end in vital enterprise losses.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Increasing Cyber and Ransomware Attacks to Drive Market Growth
4.2 Cybersecurity Insurance Analytics Platforms and Cyber Liability Segment to Account for Largest Market Size in 2022
4.3 Cybersecurity Insurance 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 Highest Rate During Forecast Period

5 Market Overview
5.1 Market Dynamics
5.1.1 Drivers Surge in Mandatory Cybersecurity Regulations and Legislation to Boost Demand for Insurance Protection High Rate of Recovery of Financial Losses to Promote Market Growth Increase in Frequency and Sophistication of Cyber Threats
5.1.2 Restraints Lack of Awareness Related to Cybersecurity Insurance and Reluctance in Choosing Cybersecurity Insurance Over Cybersecurity Solutions Soaring Cybersecurity Insurance Costs
5.1.3 Opportunities Exclusion of Cybersecurity Insurance Cover from Property and Casualty (P&C) Insurance Adoption of Artificial Intelligence and Blockchain Technology for Risk Analytics
5.1.4 Challenges Cyber Insurers Grapple to Gain Traction Despite Soaring Cybersecurity Risks Data Privacy Concerns Lack of Understanding, Technical Knowledge, and Absence 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 Cybersecurity Regulatory Implications
5.8 Use Cases
5.9 Patent Analysis
5.10 Porter’s Five Forces Model

6 Cybersecurity Insurance Market, by Component
6.1 Introduction
6.1.1 Component: Market Drivers
6.1.2 Component: COVID-19 Impact
6.2 Solutions
6.2.1 to Provide High Data Security and Prevent Data Breaches
6.2.2 Cybersecurity Insurance Analytics Platforms
6.2.3 Disaster Recovery and Business Continuity
6.2.4 Cybersecurity Solutions Cyber Risk and Vulnerability Assessment Cybersecurity Resilience
6.3 Services
6.3.1 Need for Professional Consultants to Provide 24/7 Service Response
6.3.2 Consulting/Advisory
6.3.3 Security 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 Business Against Security and Cyber Breaches
7.2.2 Data Loss
7.2.3 Denial of Service and Downtime
7.2.4 Ransomware Attacks
7.2.5 Other Providers
7.3 Cyber Liability
7.3.1 to Reduce Data Recovery Cost from Data Breaches and Cyberattacks
7.3.2 Type Data Protection and Privacy Costs Non-Compliance Penalty Brand and Related Intellectual Property Protection Other Cyber Liability Type
7.3.3 Source/Target Internal External

8 Cybersecurity Insurance Market, by Insurance Type
8.1 Introduction
8.1.1 Insurance Types: Market Drivers
8.1.2 Insurance Types: COVID-19 Impact
8.2 Packaged
8.2.1 to Enhance Digital Transformation and Support Traditional Policies
8.3 Standalone
8.3.1 to Manage Complex Cyber Risks and Improve Cyber Risk Protection

9 Cybersecurity Insurance Market, by Organization Size
9.1 Introduction
9.1.1 Organization Size: Market Drivers
9.1.2 Organization Size: COVID-19 Impact
9.2 Large Enterprises
9.2.1 Large Enterprises Developing a Strong Security System to Prevent Cyberattacks
9.3 Small- and Medium-Sized Enterprises
9.3.1 to Reduce Financial Losses on account of Cyberattacks

10 Cybersecurity Insurance Market, by End-User
10.1 Introduction
10.1.1 End-Users: Market Drivers
10.1.2 End-Users: COVID-19 Impact
10.2 Technology Providers
10.2.1 Need for Cybersecurity Insurance Packages Has Increased to Support Digital Transformation
10.2.2 End-Users: Cybersecurity Insurance Market Drivers
10.2.3 Insurance Companies
10.2.4 Third-Party Administrators, Brokers, and Consultancies
10.2.5 Government Agencies
10.3 Insurance Providers
10.3.1 to Underwrite Insurance Policies for Improving Cybersecurity Systems of Organizations
10.3.2 Financial Services
10.3.3 Healthcare and Life Sciences
10.3.4 Retail and Ecommerce
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

Story continues

  • Accenture

  • AIG

  • Allianz

  • AON

  • Arceo

  • Arthur J Gallagher

  • At-Bay

  • Attackiq

  • AXA Xl

  • Axis Capital

  • Beazley

  • Bitsight

  • Broadcom

  • Check Point

  • Chubb

  • Cisco

  • CNA

  • Coalition

  • Cronus Cyber Technologies

  • Cyber Indemnity Solutions

  • Cyberark

  • Cybernance

  • CYE

  • Cyence (Acquired by Guidewire Software)

  • Cylance

  • Fairfax

  • Fireeye

  • Founder Shield

  • Insurance Providers Profiles

  • Kovrr

  • Liberty Mutual Holding

  • Lloyd’s of London

  • Lockton

  • Microsoft

  • Munich RE

  • Prevalent

  • Redseal

  • Risksense

  • Safebreach

  • Sayata Labs

  • Securit

  • Securityscorecard

  • Sentinelone

  • Sompo International

  • Travelers

  • Upguard

  • Zeguro

For extra details about this report go to https://www.researchandmarkets.com/r/7a8f5s


CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900


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