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Global Cyber Insurance Market (2019-2025)

  • ID: 4871728
  • Report
  • November 2019
  • Region: Global
  • 191 pages
  • Marqual IT Solutions Pvt. Ltd (KBV Research)

FEATURED COMPANIES

  • Allianz Group
  • Aon Plc.
  • AXA XL SA
  • Berkshire Hathaway, Inc.
  • Chubb Limited
  • Lockton Companies, Inc.
The Global Cyber Insurance Market size is expected to reach $21.4 billion by 2025, rising at a market growth of 27.2% CAGR during the forecast period. The number of companies, both large and small, has grown significantly over the past few years, opting to invest seriously in cyber security services. Many areas of the cyber industry, however, still need improvement to help businesses be fully prepared for cyber-attacks. This is most apparent when companies experience a cyber-incident and lack clarification as to how any economic or commercial damage resulting from the incident can be recovered.

A cyber insurance policy, also known as cyber risk insurance or cyber liability insurance coverage (CLIC), is intended to help a company mitigate risk exposure by offsetting recovery costs following a cyber-related breach of security or similar event. Technology, social media and Internet purchases play key roles in how most of today's companies conduct business and attract prospective customers. Such vehicles also act as cyber-attack gateways. Cyber-attacks are likely to occur, whether perpetrated by run-of - the-mill hackers, terrorists, insiders, or even nation states, and can cause moderate to severe losses to large and small enterprises. Organizations frequently have to determine what risks to prevent, accept, control or transfer as part of a risk management strategy.

Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Sized Enterprises. Based on Application, the market is segmented into Banking & Financial Services, IT & Telecom, Healthcare, Retail and Others. The banking and financial services applications segment recorded the dominant market share in 2018. As a result of increasing monetary operations, it has grown as a core industry. It is prone to a higher number of incidents in hacking like large-scale fraud, breaches, and heists. Banking and financial services protection is a matter of concern as these services are known as the foundation of economies. Over the forecast period, the healthcare application segment is expected to grow at the highest CAGR. Digital vulnerabilities have been generated by rapid digitalization in the healthcare sector to allow easy access to customer data. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Aon Plc., American International Group, Inc. (AIG), Allianz Group, Berkshire Hathaway, Inc., Lockton Companies, Inc., Chubb Limited, Munich Re Group, AXA XL SA, Zurich Insurance Group and Lloyd’s Group of London Ltd.

Recent strategies deployed in Cyber Insurance Market

Collaborations, Partnerships, and Agreements:
  • Jun-2019: Aon collaborated with CyberCube, a leading provider of cyber risk analytics for (re)insurance industry. The collaboration is aimed at delivering innovative cyber (re)insurance solutions to its insurance carrier prospects and clients through integrating CyberCube in Aon’s CyberMetrica platform.
  • Jun-2019: Chubb partnered with National Association of Women Business Owners (NAWBO). This partnership will offer an industry leading resource for small business needs and education together with access to insurance products and services to NAWABO members.
  • May-2019: Munich Re signed a partnership agreement with Curv. The assets held in Curv wallet are covered up with the sum of50m.
  • Dec-2018: Aon teamed up with Norton™ LifeLock™, a Symantec brand in order to develop a comprehensive solution, which helps in providing protection online to high-net-worth individuals and helping them in safeguarding their assets from lurking cyber criminals. This solution comprises of Aon’s customized and individual risk diagnostic and enhanced cyber insurance that offers broader coverage to high-net-with segment.
  • Oct-2018: AXA teamed up with Slice Labs in order to launch a new cyber insurance policy that is designed for SMBs. This policy has been powered by Slice’s Insurance Cloud Services (ICS) platform and AXA XL’s cyber insurance solution for providing comprehensive cyber insurance protection together with real-time intelligence to proactively counteract cyber risks.
  • Apr-2018: Aon announced its collaboration with HP for helping the companies in strengthening their business continuity and disaster recovery planning with the help of cyber risk management services and comprehensive IT security. Together these companies will provide Aon cyber resilience evaluation, HP DaaS, Aon premier cyber insurance panel, and Aon incident response services.
Acquisition and Mergers:
  • May-2019: Allianz Group signed a definitive agreement to acquire Liverpool Victoria Friendly Society (LVFS) and Legal & General Insurance. These acquisitions help Allianz to enter in Cyber insurance market in UK.
  • Jul-2018: American International Group, Inc. took over Validus Holdings, a Bermuda reinsurer and specialist insurer. The acquisition adds diversified franchises to AIG comprised of Validus Re, a reinsurance platform, Talbot, a Lloyd’s syndicate, Crop Risk Services, AlphaCat, an insurance-linked securities asset manager, etc.
Expansions:
  • Sep-2019: Chubb expanded its reach to India by opening a new business services center in Hyderabad, Bengaluru. The professionals of this center will support highly impacted areas such as analytical areas and digital technology areas for supporting the Chubb's global insurance operations.
Product Launches and Product Expansions:
  • Nov-2019: Allianz introduced a new cyber proposition, which offers comprehensive cover and access to incident response-services and prevention support to mid-corporate businesses. It will insure the business against cyber-attacks including lost income and costs.
  • Nov-2019: Zurich Insurance introduced new cyber insurance for the manufacturing industry. With the launch of this insurance, Zurich has extended its footprints to the manufacturing business.
  • Aug-2019: Chubb launched Pro ERM cyber insurance offerings for professional services firms. These offerings comprise of cyber, privacy and network security liability, electronic, social and printed media liability, first party cyber coverage, and professional liability.
  • May-2019: Hartford Steam Boiler (HSB), a part of Munich Re, launched a new HSB Farm Cyber Insurance solution. This solution helps in protecting farmers and farm technology from malware, hackers, and other cyber-attacks.
Scope of the Study

Market Segmentation:

By Organization Size
  • Large Enterprises
  • Small & Medium Sized Enterprises
By Application
  • Banking & Financial Services
  • IT & Telecom
  • Healthcare
  • Retail
  • Others
By Geography

North America
  • US
  • Canada
  • Mexico
  • Rest of North America
Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA
Companies Profiled
  • Aon Plc.
  • American International Group, Inc. (AIG)
  • Allianz Group
  • Berkshire Hathaway, Inc.
  • Lockton Companies, Inc.
  • Chubb Limited
  • Munich Re Group
  • AXA XL SA
  • Zurich Insurance Group
  • Lloyd’s Group of London Ltd.
Unique Offerings from the Publisher
  • Exhaustive coverage
  • Highest number of market tables and figures
  • Subscription based model available
  • Guaranteed best price
  • Assured post sales research support with 10% customization free
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Allianz Group
  • Aon Plc.
  • AXA XL SA
  • Berkshire Hathaway, Inc.
  • Chubb Limited
  • Lockton Companies, Inc.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Cyber Insurance Market, by Organization Size
1.4.2 Global Cyber Insurance Market, by Application
1.4.3 Global Cyber Insurance Market, by Geography
1.5 Methodology for the research

Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.2 Executive Summary
2.1.3 Market Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints

Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Expansions
3.2.4 Mergers & Acquisitions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2015-2019)
3.3.2 Key Strategic Move: (Product Launches : 2019-Nov - 2016-Jul) Leading Players

Chapter 4. Global Cyber Insurance Market by Organization Size
4.1 Global Cyber Insurance Large Enterprises Market by Region
4.2 Global Cyber Insurance Small & Medium Sized Enterprises Market by Region

Chapter 5. Global Cyber Insurance Market by Application
5.1 Global Cyber Insurance in Banking & Financial Services Market by Region
5.2 Global Cyber Insurance in IT & Telecom Market by Region
5.3 Global Cyber Insurance in Healthcare Market by Region
5.4 Global Cyber Insurance in Retail Market by Region
5.5 Global Other Application Cyber Insurance Market by Region

Chapter 6. Global Cyber Insurance Market by Region
6.1 North America Cyber Insurance Market
6.1.1 North America Cyber Insurance Market by Organization Size
6.1.1.1 North America Cyber Insurance Large Enterprises Market by Country
6.1.1.2 North America Cyber Insurance Small & Medium Sized Enterprises Market by Country
6.1.2 North America Cyber Insurance Market by Application
6.1.2.1 North America Cyber Insurance in Banking & Financial Services Market by Country
6.1.2.2 North America Cyber Insurance in IT & Telecom Market by Country
6.1.2.3 North America Cyber Insurance in Healthcare Market by Country
6.1.2.4 North America Cyber Insurance in Retail Market by Country
6.1.2.5 North America Other Application Cyber Insurance Market by Country
6.1.3 North America Cyber Insurance Market by Country
6.1.3.1 US Cyber Insurance Market
6.1.3.1.1 US Cyber Insurance Market by Organization Size
6.1.3.1.2 US Cyber Insurance Market by Application
6.1.3.2 Canada Cyber Insurance Market
6.1.3.2.1 Canada Cyber Insurance Market by Organization Size
6.1.3.2.2 Canada Cyber Insurance Market by Application
6.1.3.3 Mexico Cyber Insurance Market
6.1.3.3.1 Mexico Cyber Insurance Market by Organization Size
6.1.3.3.2 Mexico Cyber Insurance Market by Application
6.1.3.4 Rest of North America Cyber Insurance Market
6.1.3.4.1 Rest of North America Cyber Insurance Market by Organization Size
6.1.3.4.2 Rest of North America Cyber Insurance Market by Application
6.2 Europe Cyber Insurance Market
6.2.1 Europe Cyber Insurance Market by Organization Size
6.2.1.1 Europe Cyber Insurance Large Enterprises Market by Country
6.2.1.2 Europe Cyber Insurance Small & Medium Sized Enterprises Market by Country
6.2.2 Europe Cyber Insurance Market by Application
6.2.2.1 Europe Cyber Insurance in Banking & Financial Services Market by Country
6.2.2.2 Europe Cyber Insurance in IT & Telecom Market by Country
6.2.2.3 Europe Cyber Insurance in Healthcare Market by Country
6.2.2.4 Europe Cyber Insurance in Retail Market by Country
6.2.2.5 Europe Other Application Cyber Insurance Market by Country
6.2.3 Europe Cyber Insurance Market by Country
6.2.3.1 Germany Cyber Insurance Market
6.2.3.1.1 Germany Cyber Insurance Market by Organization Size
6.2.3.1.2 Germany Cyber Insurance Market by Application
6.2.3.2 UK Cyber Insurance Market
6.2.3.2.1 UK Cyber Insurance Market by Organization Size
6.2.3.2.2 UK Cyber Insurance Market by Application
6.2.3.3 France Cyber Insurance Market
6.2.3.3.1 France Cyber Insurance Market by Organization Size
6.2.3.3.2 France Cyber Insurance Market by Application
6.2.3.4 Russia Cyber Insurance Market
6.2.3.4.1 Russia Cyber Insurance Market by Organization Size
6.2.3.4.2 Russia Cyber Insurance Market by Application
6.2.3.5 Spain Cyber Insurance Market
6.2.3.5.1 Spain Cyber Insurance Market by Organization Size
6.2.3.5.2 Spain Cyber Insurance Market by Application
6.2.3.6 Italy Cyber Insurance Market
6.2.3.6.1 Italy Cyber Insurance Market by Organization Size
6.2.3.6.2 Italy Cyber Insurance Market by Application
6.2.3.7 Rest of Europe Cyber Insurance Market
6.2.3.7.1 Rest of Europe Cyber Insurance Market by Organization Size
6.2.3.7.2 Rest of Europe Cyber Insurance Market by Application
6.3 Asia Pacific Cyber Insurance Market
6.3.1 Asia Pacific Cyber Insurance Market by Organization Size
6.3.1.1 Asia Pacific Cyber Insurance Large Enterprises Market by Country
6.3.1.2 Asia Pacific Cyber Insurance Small & Medium Sized Enterprises Market by Country
6.3.2 Asia Pacific Cyber Insurance Market by Application
6.3.2.1 Asia Pacific Cyber Insurance in Banking & Financial Services Market by Country
6.3.2.2 Asia Pacific Cyber Insurance in IT & Telecom Market by Country
6.3.2.3 Asia Pacific Cyber Insurance in Healthcare Market by Country
6.3.2.4 Asia Pacific Cyber Insurance in Retail Market by Country
6.3.2.5 Asia Pacific Other Application Cyber Insurance Market by Country
6.3.3 Asia Pacific Cyber Insurance Market by Country
6.3.3.1 China Cyber Insurance Market
6.3.3.1.1 China Cyber Insurance Market by Organization Size
6.3.3.1.2 China Cyber Insurance Market by Application
6.3.3.2 Japan Cyber Insurance Market
6.3.3.2.1 Japan Cyber Insurance Market by Organization Size
6.3.3.2.2 Japan Cyber Insurance Market by Application
6.3.3.3 India Cyber Insurance Market
6.3.3.3.1 India Cyber Insurance Market by Organization Size
6.3.3.3.2 India Cyber Insurance Market by Application
6.3.3.4 South Korea Cyber Insurance Market
6.3.3.4.1 South Korea Cyber Insurance Market by Organization Size
6.3.3.4.2 South Korea Cyber Insurance Market by Application
6.3.3.5 Singapore Cyber Insurance Market
6.3.3.5.1 Singapore Cyber Insurance Market by Organization Size
6.3.3.5.2 Singapore Cyber Insurance Market by Application
6.3.3.6 Malaysia Cyber Insurance Market
6.3.3.6.1 Malaysia Cyber Insurance Market by Organization Size
6.3.3.6.2 Malaysia Cyber Insurance Market by Application
6.3.3.7 Rest of Asia Pacific Cyber Insurance Market
6.3.3.7.1 Rest of Asia Pacific Cyber Insurance Market by Organization Size
6.3.3.7.2 Rest of Asia Pacific Cyber Insurance Market by Application
6.4 LAMEA Cyber Insurance Market
6.4.1 LAMEA Cyber Insurance Market by Organization Size
6.4.1.1 LAMEA Cyber Insurance Large Enterprises Market by Country
6.4.1.2 LAMEA Cyber Insurance Small & Medium Sized Enterprises Market by Country
6.4.2 LAMEA Cyber Insurance Market by Application
6.4.2.1 LAMEA Cyber Insurance in Banking & Financial Services Market by Country
6.4.2.2 LAMEA Cyber Insurance in IT & Telecom Market by Country
6.4.2.3 LAMEA Cyber Insurance in Healthcare Market by Country
6.4.2.4 LAMEA Cyber Insurance in Retail Market by Country
6.4.2.5 LAMEA Other Application Cyber Insurance Market by Country
6.4.3 LAMEA Cyber Insurance Market by Country
6.4.3.1 Brazil Cyber Insurance Market
6.4.3.1.1 Brazil Cyber Insurance Market by Organization Size
6.4.3.1.2 Brazil Cyber Insurance Market by Application
6.4.3.2 Argentina Cyber Insurance Market
6.4.3.2.1 Argentina Cyber Insurance Market by Organization Size
6.4.3.2.2 Argentina Cyber Insurance Market by Application
6.4.3.3 UAE Cyber Insurance Market
6.4.3.3.1 UAE Cyber Insurance Market by Organization Size
6.4.3.3.2 UAE Cyber Insurance Market by Application
6.4.3.4 Saudi Arabia Cyber Insurance Market
6.4.3.4.1 Saudi Arabia Cyber Insurance Market by Organization Size
6.4.3.4.2 Saudi Arabia Cyber Insurance Market by Application
6.4.3.5 South Africa Cyber Insurance Market
6.4.3.5.1 South Africa Cyber Insurance Market by Organization Size
6.4.3.5.2 South Africa Cyber Insurance Market by Application
6.4.3.6 Nigeria Cyber Insurance Market
6.4.3.6.1 Nigeria Cyber Insurance Market by Organization Size
6.4.3.6.2 Nigeria Cyber Insurance Market by Application
6.4.3.7 Rest of LAMEA Cyber Insurance Market
6.4.3.7.1 Rest of LAMEA Cyber Insurance Market by Organization Size
6.4.3.7.2 Rest of LAMEA Cyber Insurance Market by Application

Chapter 7. Company Profiles
7.1 Aon PLC
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Regional Analysis
7.1.4 Recent strategies and developments
7.1.4.1 Collaborations, Partnerships, and Agreements
7.1.4.2 Acquisition and Mergers
7.1.4.3 Product Launches
7.1.5 SWOT Analysis
7.2 American International Group, Inc. (AIG)
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Recent strategies and developments
7.2.4.1 Collaborations, Partnerships, and Agreements
7.2.4.2 Acquisition and Mergers
7.2.4.3 Product Launches
7.2.5 SWOT Analysis
7.3 Allianz Group
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental Analysis
7.3.4 Recent strategies and developments
7.3.4.1 Collaborations, Partnerships, and Agreements
7.3.4.2 Product Launches
7.3.4.3 Acquisition and Mergers
7.3.5 SWOT Analysis
7.4 Berkshire Hathaway, Inc.
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental Analysis
7.4.4 Recent strategies and developments
7.4.4.1 Product Launches
7.4.5 SWOT Analysis
7.5 Lockton Companies, Inc.
7.5.1 Company Overview
7.5.2 Recent strategies and developments
7.5.2.1 Expansions
7.6 Chubb Limited
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Recent strategies and developments
7.6.4.1 Collaborations, Partnerships, and Agreements
7.6.4.2 Product Launches
7.6.4.3 Expansions
7.6.5 SWOT Analysis
7.7 Munich Re Group
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental Analysis
7.7.4 Recent strategies and developments
7.7.4.1 Collaborations, Partnerships, and Agreements
7.7.4.2 Product Launches
7.8 AXA SA
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Segmental and Regional Analysis
7.8.4 Recent strategies and developments
7.8.4.1 Collaborations, Partnerships, and Agreements
7.8.4.2 Product Launches
7.8.5 SWOT Analysis
7.9 Zurich Insurance Group
7.9.1 Company Overview
7.9.2 Financial Analysis
7.9.3 Segmental and Regional Analysis
7.9.4 Recent strategies and developments
7.9.4.1 Product Launches
7.9.5 SWOT Analysis
7.1 Lloyd’s Group of London Ltd.
7.10.1 Company Overview
7.10.2 Financial Analysis
7.10.3 Segmental and Regional Analysis
Note: Product cover images may vary from those shown
  • Aon Plc.
  • American International Group, Inc. (AIG)
  • Allianz Group
  • Berkshire Hathaway, Inc.
  • Lockton Companies, Inc.
  • Chubb Limited
  • Munich Re Group
  • AXA XL SA
  • Zurich Insurance Group
  • Lloyd’s Group of London Ltd.
Note: Product cover images may vary from those shown

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