Cybersecurity in Insurance – Thematic Research

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.

Scope

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.

Companies mentioned

Ahnlab

Airbus

Akamai

Aker Security Solutions

AlienVault

Avira

Assuranceforening en Skuld

AIA Group Limited

Allianz SE

BAE Systems

Bayshore Networks

Barracuda Networks

Carbon Black

CloudFlare

Check Point Software Technologies

Cheetah Mobile

Cisco

CyberArk Software

Conventus Inter-Insurance Exchange

Chubb Limited

Darktrace

Dell

Demonsaw

E8 Security

Farfetch

F5 Networks

FireEye

Fortinet

F-secure

Gemalto

Gigamon

HackerOne

Herjavec Group

Hillstone Networks

Huawei

IBM

Illusive Networks

Imperva

Intel

Juniper Networks

Kaspersky Lab

KEYW

Kroger

Levi’s

LifeLock

Lowe’s

Lululemon

LocalTapiola Group

Micro Focus

Microsoft

MobileIron

NetScout Systems

Palo Alto Networks

ProofPoint

Palantir

Phoenix Group Holdings

Qualys

Qihoo 360

Rapid7

Raytheon

SecureWorks

Sophos

Splunk

Symantec

Tanium

Trend Micro

Untangle

Verint Systems

Veracode

WatchGuard

WhiteHat Security

ZeroFOX

Table of Contents

Players

Trends

Industry analysis

Value chain

Companies section

Technology briefing

Glossary

APPENDIX: OUR "THEMATIC" RESEARCH METHODOLOGY

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