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Rethinking Cyber Insurance Underwriting Through Technology

forbes.com · 1,081 words · saved by 1 readers

Co-Founder & CTO of Cymulate. Previously, Avihai was the Head of the Cyber Research Team at Avnet Cyber & Information Security. According to a World Economic Forum report, "cyber insurance pricing in the United States rose by 96% in the third quarter of 2021, marking the most significant increase since 2015 and a 204% year-over-year increase." At the same time, or as a consequence, cyber insurance premiums increased by 33.5% in 2020 alone, the extent of coverage is reduced, and insurers are increasingly relying on reinsurance. To meet the fast-rising executives' interest in cyber insurance and cover the inflated cyber risk from insurers' and reinsurers' perspectives, a shift in thinking should focus both sides on risk prevention, improved visibility and quantification during the risk assessment phase. The trajectory of cyber risks can be tackled from two different angles concurrently—by curbing cybercrime and by raising the entry level for cybercriminals in breaching organizations' dig

Innovation Rethinking Cyber Insurance Underwriting Through Technology By Avihai Ben-Yossef , Forbes Councils Member. for Forbes Technology Council COUNCIL POST Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. | Membership (fee-based) Apr 28, 2022, 06:15am EDT Apr 29, 2022, 04:19am EDT Co-Founder & CTO of Cymulate . Previously, Avihai was the Head of the Cyber Research Team at Avnet Cyber & Information Security. getty According to a World Economic Forum report , "cyber insurance pricing in the United States rose by 96% in the third quar

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