Cybersecurity in Insurance – Thematic Research
- Pages: 48
- Published: May 2018
- Report Code: GDIN-TR-S002
By 2021 the global cybersecurity market is expected to be worth $1bn, up from $765m in 2017 according to GlobalData. However, the key issue is that insurance companies need “better” rather than “more” security.
In this report, we look at the 12 most important cybersecurity technologies and conclude that the most important ones in terms of driving the cybersecurity industry’s revenues over the next two years are network security appliances, cloud security, and artificial intelligence (AI). Our research indicates the winners in these high-growth cyber technology cycles over the next two years will be:
▪ Unified threat management: Check Point Software, Cisco, Fortinet, IBM, Palo Alto Networks, SecureWorks, Sophos, and Symantec.
▪ Cloud security: Barracuda Networks, Fortinet, Imperva, Micro Focus, Qualys, and Sophos.
▪ AI: IBM, Microsoft, Alphabet, Splunk, and Palantir.
▪ Insurance leaders: AIG, Allianz, Zurich, Swiss Re, Munich Re, Aviva, AXA, and Swiss Re.
This report provides an overview of the global insurance industry and how it is preparing to ride the digital wave to best align with future business objectives.
-The report discusses how insurance providers are trying to mitigate their vulnerabilities and enhance their security against cyber risks, thereby creating significant market opportunities for vendors who can in turn leverage their ecosystems to offer end-to-end security solutions, especially in areas such as AI and forensics.
-The report also looks at the 12 most important cybersecurity technologies and concludes that the most important ones in terms of driving the cybersecurity industry’s revenues over the next two years are network security appliances, cloud security, and artificial intelligence (AI).
-The report further identifies key winners in these high-growth cyber technology cycles over the next two years – unified threat management, cloud security, AI, and insurance leaders.
Reasons to buy
The report classifies the cybersecurity market into 14 critical technologies and identifies the big players in the cybersecurity industry and where they sit in the value chain.
-The report also analyses the main trends in the cybersecurity industry over the next 12 to 24 months, classifying them into six categories such as the changing nature of cyber threats, evolutions of key cybersecurity technologies, industry growth drivers, corporate governance, cybersecurity in the global insurance sector trends, and cyber insurance market developments.
-The report further provides an industry analysis and the challenges in identifying and preventing the many faces and motives of cyber risks, thereby making cyber insurance policies highly complex.
-The report also analyses the big data value chain, identifying the 14 key cybersecurity technologies that could drive growth in the cybersecurity industry over the next two years, and the leaders in each of these categories.
-The report also identifies the NIST Cybersecurity Framework, which maps operational functions onto the asset categories to achieve the best practice solutions.
Aker Security Solutions
Assuranceforening en Skuld
AIA Group Limited
Check Point Software Technologies
Conventus Inter-Insurance Exchange
Palo Alto Networks
Phoenix Group Holdings
Table of Contents
APPENDIX: OUR "THEMATIC" RESEARCH METHODOLOGY