The cyber market is anticipated to more than double by 2030. Even conservative estimates suggest significant continued growth, which will have profound implications for both the cyber (re)insurance market itself and the wider industry. There is inherent uncertainty in any projection of market growth, so, rather than simply adding numerical estimates to the market projection, we look beyond the numbers to examine the conditions necessary to meet such expectations.
We have researched a range of perspectives from different stakeholders around the industry and sought answers to issues such as: How do we prepare for such a market? What are the product and capital innovations required to fulfill this growth ambition? We challenge and explore these issues, offering ideas to enable expansion. Three important themes are:
1. Improved data quality
2. Continued modelling investment
3. Flexible product approach for distribution
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