The Evolution of Cyber Insurance Industry: Unraveling the Complexities

The cyber risk insurance industry is rapidly developing, with a staggering worldwide gross written premiums rising from 850 million dollars in 2012 to about 2.5 billion dollars in 2014. The market is growing fast due to the increasing number of cyber-attacks and the intensifying technological dependence of companies on operational competencies and data storage. Amidst this rising demand, however, insurance firms are still struggling to define policies. A number of imperfections in the market are still not being addressed and this may lead to a sub-optimal outcome. As of June 2014, the total global cybercrime losses was 445 billion dollars. The governments’ heightened involvement in cyber threats could mean that compulsory cyber risk insurance is on the horizon and this would definitely transform the insurance market into a robust revenue source. Both businesses and the insurance industry should respond now to be able to manage the big shift.
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OTHER ON-DEMAND WEBINARS

Insurance Fraud

theclm.org

CLM is pleased to present our Webinar Series. We have many topics for you to choose from and attendance is open to all CLM Members and Fellows and Guests. The webinar topics are current and exciting - ranging from Alternative Dispute Resolution to Workers Compensation issues and are presented by claims, litigation and insurance professionals.
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The Experience Economy

Over the years, improving the customer experience has remained the top driver for digital transformation. What were once aspirational views of innovative digital experiences are now requirements for future immersive experiences for both business-to-consumer and business-to-business markets. The race for relevance means organizations must measure and align future technology investments to improve convenience, context and control for both customers and the employees that support them. This requires a shift to the cloud and investments in real-time data-driven experiences. Leaders show an increase in equity and 25-point differential improvement in new metrics. In this webinar, we will discuss how businesses must elevate the importance of information technology (IT) and business agility with an eye toward accelerating the pace of transformation to embrace a modern approach to improving customer experiences from core to edge, as innovation and resiliency are critical to survival.
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InsTech in London: From MGA to Full Stack Insurer - Everything You Need to Know

This event looked at the implications of becoming a full stack insurer. This included the regulatory and compliance implications, how much capital is needed, where to go for the relevant expert guidance and why there are so few new full stack insurers in the UK.
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Waiting on Insurtech? How to Transform Your Financial Process Now

Nationwide

Join this complimentary webcast to learn how you can duplicate Nationwide’s success, make crucial improvements for your organization’s future, and reap the benefits of replacing manual reconciliation with automated reconciliation.
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