The global cyber insurance market size in the post-COVID-19 scenario is projected to grow from USD 7.8 billion in 2020 to USD 20.4 billion by 2025, at a CAGR of 21.2% during the forecast period. The major factors driving the market include the increasing number of security breaches and cyberattacks resulting in huge financial losses and stringent government regulations towards the adoption of cyber insurance policies.
By insurance coverage, the cyber liability segment expected to hold a larger market size in 2025
Cyber risk insurance or cyber liability insurance coverage helps an organization cover the cost to recover from a data breach, virus, or other cyber-attacks. Cyber liability insurance covers expenses related to first parties and also third-party claims. The cyber insurance policy covers some reimbursable expenses such as investigation, business losses, lawsuits and extortion, and privacy and notification. The growing sophistication of cyber-attacks and stringent regulatory mandates persuade enterprises to proactively adopt cyber insurance solutions. Cyber liability coverage policies can assist insurers to offer first party and third part cyber coverage to prevent the post effects of a security breach that could result in critical business losses.
Key vendors offering various types of cyber insurance solutions include Allianz Group, AIG, Chubb, Aon, Zurich, AXA, and Berkshire Hathaway, among others
APAC to register the highest growth rate during the forecast period
Asia Pacific (APAC) comprises of emerging economies, such as Australia and New Zealand, China, Singapore, and Japan, with developed security infrastructure. Machine Learning (ML), Internet of Things (IoT), big data analytics, and Artificial Intelligence (AI) are emerging methodologies that are being deployed in this region. APAC is home to large number of established Small and Medium-sized Enterprises (SMEs), which are growing at a laudable pace to cater to their large customer base. SMEs are rapidly adopting cyber insurance solutions to manage their enterprise data. Despite the growing importance of SMEs in this region, they are most affected mostly by cyber and malware attacks owing to budgetary constraints and resource shortages.
- By Company Type: Tier 1 - 55%, Tier 2 - 27%, and Tier 3 - 18%
- By Designation: C-level - 33%, D-level - 25%, and Others - 42%
- By Region: North America - 38%, Europe - 14%, APAC - 19%, RoW - 29%
The technology vendors covered in the cyber insurance market report include BitSight (US), Prevalent (US), RedSeal (US), SecurityScorecard (US), Cyber Indemnity Solutions (Australia), Cisco (US), UpGuard (US), Microsoft (US), Check Point (US), AttackIQ (US), SentinelOne (US), Broadcom (US), Accenture (Ireland), Kenna Security (US), Cylance (US), FireEye (US), CyberArk (US), CYE (Israel), SecurIT360 (US), and Founder Shield (US). The insurance vendors covered in the cyber insurance market are Allianz (Germany), AIG (US), Aon (UK), Arthur J. Gallagher & Co (US), Travelers Insurance (US), AXA XL (US), AXIS Capital (Bermuda), Beazley (UK), Chubb (Switzerland), CNA Financial (US), Fairfax Financial (Canada), Liberty Mutual (US), Lloyd’s of London (UK), Lockton (US), Munich Re Group (Germany), and Sompo International (Bermuda). The startup vendors covered in the cyber insurance market are At-Bay (US), Cybernance (US), CyberCube (US), Coalition (US), Arceo.ai (US), Kovrr (Israel), Sayata Labs (Israel), Zeguro (US), RiskSense (US), Cyence (US), SafeBreach (US), and Cronus Cyber Technologies (Israel). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their footprint in the cyber insurance market.
Research Coverage
The market study covers the cyber insurance market size across different segments. It aims at estimating the market size and the growth potential across different segments, including application, service model, security type, organization size, vertical, and region. The study further includes an in-depth competitive analysis of the leading market players, along with their company profiles, key observations related to product and business offerings, recent developments, and market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the global cyber insurance market and its subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies. Moreover, the report will provide insights for stakeholders to understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
Table of Contents
1 Introduction
1.1 Introduction to COVID-19
1.2 COVID-19 Health Assessment
Figure 1 COVID-19: Global Propagation
Figure 2 COVID-19 Propagation: Select Countries
1.3 COVID-19 Economic Assessment
Figure 3 Revised Gross Domestic Product Forecasts for Select G20 Countries in 2020
1.3.1 COVID-19 Economic Impact - Scenario Assessment
Figure 4 Factors Impacting Global Economy
Figure 5 Scenarios in Terms of Recovery of Global Economy
1.4 Objectives of the Study
1.5 Market Definition
1.5.1 Inclusions and Exclusions
1.6 Market Scope
1.6.1 Market Segmentation
1.6.2 Regions Covered
1.6.3 Years Considered for the Study
1.7 Currency Considered
Table 1 United States Dollar Exchange Rate, 2018-2020
1.8 Stakeholders
2 Research Methodology
2.1 Research Data
Figure 6 Cyber Insurance Market: Research Design
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakup of Primary Profiles
2.1.2.2 Key Industry Insights
2.2 Market Breakup and Data Triangulation
2.3 Market Size Estimation
Figure 7 Market Size Estimation Methodology - Approach 1 (Supply Side): Revenue from Solutions/Services and Insurance of Cyber Insurance Vendors
Figure 8 Market Size Estimation Methodology - Approach 2, Bottom-Up (Supply Side): Collective Revenue from All Solutions, Services, and Insurance Policy of Cyber Insurance Vendors
Figure 9 Market Size Estimation Methodology - Approach 3, Top Down (Demand Side): Share of Cyber Insurance in Overall Information Technology Market
2.4 Implication of COVID-19 on Cyber Insurance Market
Figure 10 Market Size Estimation Methodology: COVID-19 Market
2.4.1 Impact of COVID-19 Pandemic
2.5 Market Forecast
Table 2 Factor Analysis
2.6 Competitive Evaluation Matrix Methodology
Figure 11 Competitive Evaluation Matrix: Criteria Weightage
2.7 Startup/SME Evaluation Matrix Methodology
Figure 12 Startup/SME Evaluation Matrix: Criteria Weightage
2.8 Assumptions for the Study
2.9 Limitations of the Study
3 Executive Summary
Figure 13 Number of Cyber Attack Events, 2018 Vs 2019 Vs 2020
Figure 14 Type of Data Lost During Data Breach
3.1 Cyber Insurance Coverage
Figure 15 Distribution of Cyberattack Events, Q1 2020
3.2 Cyber Insurance Claims
Figure 16 Cause of for Cyber Losses Covered by Cyber Insurance
Figure 17 Global Cyber Insurance Market to Witness High Growth During Forecast Period
Figure 18 Market to Witness Moderate Growth During COVID-19 Period
Figure 19 Segments with High Growth Rates During Forecast Period
Figure 20 Market: Regional Snapshot
Figure 21 Geographic Distribution of Market
4 Premium Insights
4.1 Attractive Opportunities in Cyber Insurance Market
Figure 22 Increasing Cyber and Ransomware Attacks to Drive Market Growth
4.2 Market, by Component, 2020 Vs. 2025
Figure 23 Solutions Segment to Hold Larger Market Share During Forecast Period
4.3 Market, by Solution, 2020 Vs. 2025
Figure 24 Cyber Insurance Analytics Platforms Segment to Hold Largest Market Share During Forecast Period
4.4 Market, by Service, 2020 Vs. 2025
Figure 25 Security Awareness Training Segment to Account for Largest Market Share During Forecast Period
4.5 Market, by Insurance Coverage, 2020 Vs. 2025
Figure 26 Cyber Liability Segment to Lead Cyber Insurance Market in 2020
4.6 Market, by Insurance Type, 2020 Vs. 2025
Figure 27 Standalone Segment to Lead Market in 2020
4.7 Market, by Organization Size, 2020 Vs. 2025
Figure 28 Large Enterprises Segment to Lead Market in 2020
4.8 Market, by End-User, 2020 Vs. 2025
Figure 29 Insurance Provider Segment to Lead Market During Forecast Period
4.9 Market, by Technology Provider, 2020-2025
Figure 30 Insurance Companies Segment to Hold Largest Share During Forecast Period
4.10 Market, by Insurance Provider, 2020-2025
Figure 31 Healthcare and Life Sciences Segment to Hold Largest Share in 2020
4.11 Market Investment Scenario
Figure 32 Asia-Pacific to Emerge as Best Market for Investments During Forecast Period
5 Market Overview
5.1 Market Dynamics
Figure 33 Cyber Insurance Market: Drivers, Restraints, Opportunities, and Challenges
5.1.1 Drivers
5.1.1.1 Surge in Mandatory Cybersecurity Regulations and Legislations to Boost Demand for Insurance Protection
5.1.1.2 High Rate of Recovery of Financial Losses to Promote Growth of Market
Figure 34 Cyber Insurance Recovery of Fund After Cyber Incident, 2018
5.1.1.3 Increase in the Frequency and Sophistication of Cyber Threats
Figure 35 Cyber Attacks Causing More Than USD One Million Losses, 2018
5.1.2 Restraints
5.1.2.1 Lack of Awareness Related to Cyber Insurance and Reluctance in Choosing Cyber Insurance Over Cybersecurity Solutions
5.1.2.2 Soaring Cyber Insurance Costs
Table 3 Direct Written Premiums Yoy Growth of Standalone and Package Cyber Insurance Underwriters
5.1.3 Opportunities
5.1.3.1 Exclusion of Cyber Insurance Cover from Property and Casualty (P&C) Insurance
5.1.3.2 Adoption of Artificial Intelligence and Blockchain Technology for Risk Analytics
5.1.4 Challenges
5.1.4.1 Cyber Insurers Grapple to Gain Traction Despite Soaring Cybersecurity Risks
5.1.4.2 Data Privacy Concerns
5.1.4.3 Lack of Understanding, Technical Knowledge, and Absence of Historical Cyber Data for Effective Underwriting
5.2 COVID-19-Driven Market Dynamics
5.2.1 Drivers and Opportunities
5.2.2 Restraints and Challenges
5.2.3 Cumulative Growth Analysis
Table 4 COVID-19 Impact: Cyber Insurance Market, USD Billion
5.3 Industry Trends
5.4 Value Chain Analysis
Figure 36 Value Chain Analysis: Market
5.5 Ecosystem
Figure 37 Cyber Insurance Market: Ecosystem
5.6 Average Selling Price Trend
5.6.1 Cyber Insurance Average Selling Price for Small and Medium-Sized Enterprises
Figure 38 Cyber Insurance Average Selling Price Trend in Small and Medium-Sized Enterprises
Figure 39 Cyber Insurance Average Selling Price, by Employee Size
5.6.2 Cyber Insurance Premiums Trend
Table 5 Cyber Insurance Premiums Trend
5.7 Technology Analysis
5.7.1 Artificial Intelligence and Machine Learning
5.7.2 Big Data Analytics
5.7.3 Internet of Things Security
5.7.4 Blockchain
5.7.5 Cloud
5.8 Cybersecurity Regulatory Implications
5.8.1 General Data Protection Regulation
5.8.2 Payment Card Industry-Data Security Standard
5.8.3 Health Insurance Portability and Accountability Act
5.8.4 Federal Information Security Management Act
5.8.5 Gramm-Leach-Bliley Act
5.8.6 Sarbanes-Oxley Act
5.8.7 International Organization for Standardization 27001
5.9 Use Cases
5.9.1 European Financial Service Provider Leveraged Bitsight for Security Performance Management
5.9.2 Country Mutual Insurance Company Leveraged Cyberark's Privileged Security Access Platform
5.9.3 a Global 500 Insurance Company Chose Prevalent's Third-Party Risk Management Solution
5.9.4 Aon Secured Financial Institution's Funds and Data from Third-Party Cyber Risks
5.9.5 Chubb's Cyber Insurance Cover Assisted a Small and Medium-Sized Enterprise in Recovering Their Financial Losses
5.10 Patent Analysis
Figure 40 Country-Specific Technology Patents, 2019
Figure 41 Technology Patents, by Country, 2018 Vs. 2019
Figure 42 Technology Patents, by Top Applicant, 2019
5.10.1 Insurance Patents
Figure 43 Insurance Patents, by Top Applicant, in the United States
Table 6 Cyber Insurance Patents
5.11 Adjacent Markets
6 Cyber Insurance Market, by Component
6.1 Introduction
Figure 44 Services Segment to Grow at Higher CAGR During Forecast Period
Table 7 Components: Market Size, 2018-2025 (USD Million)
Table 8 Components: Market Size, by Region, 2018-2025 (USD Million)
6.2 Solutions
6.2.1 Solutions: Market Drivers
Figure 45 Cyber Insurance Analytics Platforms Segment to Grow at Highest CAGR During Forecast Period
Table 9 Market Size, by Solution, 2018-2025 (USD Million)
Table 10 Solutions: Market Size, by Region, 2018-2025 (USD Million)
6.2.2 Cyber Insurance Analytics Platforms
Table 11 Cyber Insurance Analytics Platforms: Cyber Insurance Market Size, by Region, 2018-2025 (USD Million)
6.2.3 Disaster Recovery and Business Continuity
Table 12 Disaster Recovery and Business Continuity: Market Size, by Region, 2018-2025 (USD Million)
6.2.4 Cybersecurity Solutions
6.2.4.1 Cyber Risk and Vulnerability Assessment
6.2.4.2 Cybersecurity Resilience
Table 13 Cybersecurity Solutions: Market Size, by Region, 2018-2025 (USD Million)
6.3 Services
6.3.1 Services: Market Drivers
Figure 46 Security Awareness Training Segment to Grow at Highest CAGR During Forecast Period
Table 14 Services: Cyber Insurance Market Size, 2018-2025 (USD Million)
Table 15 Services: Market Size, by Region, 2018-2025 (USD Million)
6.3.2 Consulting/Advisory
Table 16 Consulting/Advisory: Market Size, by Region, 2018-2025 (USD Million)
6.3.3 Security Awareness Training
Table 17 Security Awareness Training: Market Size, by Region, 2018-2025 (USD Million)
6.3.4 Other Services
Table 18 Other Services: Market Size, by Region, 2018-2025 (USD Million)
7 Cyber Insurance Market, by Insurance Coverage
7.1 Introduction
Figure 47 Cyber Liability Segment to Grow at Higher CAGR During Forecast Period
Table 19 Insurance Coverage: Market Size, 2018-2025 (USD Million)
Table 20 Insurance Coverage: Market Size, by Region, 2018-2025 (USD Million)
7.2 Data Breach
7.2.1 Data Breach: Market Drivers
Table 21 Data Breach: Market Size, by Region, 2018-2025 (USD Million)
7.2.2 Data Loss
7.2.3 Denial of Service and Downtime
7.2.4 Ransomware Attacks
7.2.5 Other Providers
7.3 Cyber Liability
7.3.1 Cyber Liability: Market Drivers
Table 22 Cyber Liability: Cyber Insurance Market Size, by Region, 2018-2025 (USD Million)
7.3.2 Type
7.3.2.1 Data Protection and Privacy Costs
7.3.2.2 Non-Compliance Penalty
7.3.2.3 Brand and Related Intellectual Property Protection
7.3.2.4 Other Cyber Liability Type
7.3.3 Source/Target
7.3.3.1 Internal
7.3.3.2 External
8 Cyber Insurance Market, by Insurance Type
8.1 Introduction
Figure 48 Standalone Segment to Grow at Higher CAGR During Forecast Period
Table 23 Market Size, by Insurance Type, 2018-2025 (USD Million)
Table 24 Insurance Type: Market Size, by Region, 2018-2025 (USD Million)
8.2 Packaged
8.2.1 Packaged: Market Drivers
Table 25 Packaged: Market Size, by Region, 2018-2025 (USD Million)
8.3 Standalone
8.3.1 Standalone: Market Drivers
Table 26 Standalone: Market Size, by Region, 2018-2025 (USD Million)
9 Cyber Insurance Market, by Organization Size
9.1 Introduction
Figure 49 Small and Medium-Sized Enterprises to Grow at Higher CAGR During Forecast Period
Table 27 Market Size, by Organization Size, 2018-2025 (USD Million)
Table 28 Organization Size: Market Size, by Region, 2018-2025 (USD Million)
9.2 Large Enterprises
9.2.1 Large Enterprises: Market Drivers
Table 29 Large Enterprises: Market Size, by Region, 2018-2025 (USD Million)
9.3 Small and Medium-Sized Enterprises
9.3.1 Small and Medium-Sized Enterprises: Market Drivers
Table 30 Small and Medium-Sized Enterprises: Market Size, by Region, 2018-2025 (USD Million)
10 Cyber Insurance Market, by End-User
10.1 Introduction
Figure 50 Insurance Provider Segment to Grow at Higher CAGR During Forecast Period
Table 31 Market Size, by End-User, 2018-2025 (USD Million)
Table 32 End-Users: Market Size, by Region, 2018-2025 (USD Million)
10.2 Technology Providers
10.2.1 Technology Providers: Market Drivers
Figure 51 Government Agencies Segment to Grow at Highest CAGR During Forecast Period
Table 33 Technology Providers: Market Size, 2018-2025 (USD Million)
Table 34 Technology Providers: Market Size, by Region, 2018-2025 (USD Million)
10.2.2 Insurance Companies
Table 35 Insurance Companies: Market Size, by Region, 2018-2025 (USD Million)
10.2.3 Third-Party Administrators, Brokers, and Consultancies
Table 36 Third-Party Administrators, Brokers, and Consultancies: Market Size, by Region, 2018-2025 (USD Million)
10.2.4 Government Agencies
Table 37 Government Agencies: Market Size, by Region, 2018-2025 (USD Million)
10.3 Insurance Providers
10.3.1 Insurance Providers: Market Drivers
Figure 52 Healthcare and Life Sciences Segment to Grow at Highest CAGR During Forecast Period
Table 38 Cyber Insurance Market Size, by Insurance Provider, 2018-2025 (USD Million)
Table 39 Insurance Providers: Market Size, by Region, 2018-2025 (USD Million)
10.3.2 Financial Services
Table 40 Financial Services: Market Size, by Region, 2018-2025 (USD Million)
10.3.3 It and Ites
Table 41 It and Ites: Market Size, by Region, 2018-2025 (USD Million)
10.3.4 Healthcare and Life Sciences
Table 42 Healthcare and Life Sciences: Market Size, by Region, 2018-2025 (USD Million)
10.3.5 Retail and Ecommerce
Table 43 Retail and Ecommerce: Market Size, by Region, 2018-2025 (USD Million)
10.3.6 Telecom
Table 44 Telecom: Market Size, by Region, 2018-2025 (USD Million)
10.3.7 Travel, Tourism, and Hospitality
Table 45 Travel, Tourism, and Hospitality: Market Size, by Region, 2018-2025 (USD Million)
10.3.8 Other Insurance Providers
Table 46 Other Insurance Providers: Market Size, by Region, 2018-2025 (USD Million)
11 Cyber Insurance Market, by Region
11.1 Introduction
Figure 53 Asia-Pacific to Account for Highest CAGR During Forecast Period
Figure 54 Singapore to Account for Highest CAGR During Forecast Period
Figure 55 North America to Have Largest Market Size During Forecast Period
Figure 56 Asia-Pacific: Hotspot for Investments During Forecast Period
Table 47 Market Size, by Region, 2018-2025 (USD Million)
11.2 North America
11.2.1 North America: Market Drivers
11.2.2 Cybersecurity Spending: by North America, 2019 (USD Billion)
Table 48 North America, Cybersecurity Spending, 2019 (USD Billion)
11.2.3 North America: Regulatory Landscape
Table 49 North America: Country-Wise Regulation Bodies
Figure 57 North America: Market Snapshot
Figure 58 Insurance Provider Segment to Grow at Higher CAGR During Forecast Period in North America
Table 50 North America: Cyber Insurance Market Size, by Component, 2018-2025 (USD Million)
Table 51 North America: Market Size, by Solutions, 2018-2025 (USD Million)
Table 52 North America: Market Size, by Services, 2018-2025 (USD Million)
Table 53 North America: Market Size, by Insurance Coverage, 2018-2025 (USD Million)
Table 54 North America: Market Size, by Insurance Type, 2018-2025 (USD Million)
Table 55 North America: Market Size, by Organization Size, 2018-2025 (USD Million)
Table 56 North America: Market Size, by End-User, 2018-2025 (USD Million)
Table 57 North America: Market Size, by Technology Provider, 2018-2025 (USD Million)
Table 58 North America: Market Size, by Insurance Provider, 2018-2025 (USD Million)
Figure 59 North America: Country-Wise Analysis
Table 59 North America: Market Size, by Country, 2018-2025 (USD Million)
11.2.4 United States
Table 60 United States: Cyber Insurance Market Size, by Component, 2018-2025 (USD Million)
Table 61 United States: Market Size, by Insurance Coverage, 2018-2025 (USD Million)
Table 62 United States: Market Size, by Insurance Type, 2018-2025 (USD Million)
Table 63 United States: Market Size, by Organization Size, 2018-2025 (USD Million)
Table 64 United States: Market Size, by End-User, 2018-2025 (USD Million)
11.2.5 Canada
Table 65 Canada: Cyber Insurance Market Size, by Component, 2018-2025 (USD Million)
Table 66 Canada: Market Size, by Insurance Coverage, 2018-2025 (USD Million)
Table 67 Canada: Market Size, by Insurance Type, 2018-2025 (USD Million)
Table 68 Canada: Market Size, by Organization Size, 2018-2025 (USD Million)
Table 69 Canada: Market Size, by End-User, 2018-2025 (USD Million)
11.3 Europe
11.3.1 Europe: Cyber Insurance Market Drivers
11.3.2 Cybersecurity Spending: by Europe, 2019 (USD Billion)
Table 70 Europe, Cybersecurity Spending, 2019 (USD Billion)
11.3.3 Europe: Regulatory Landscape
Table 71 Europe: Country-Wise Regulation Bodies
Figure 60 Insurance Provider Segment to Grow at Higher CAGR During Forecast Period in Europe
Table 72 Europe: Cyber Insurance Market Size, by Component, 2018-2025 (USD Million)
Table 73 Europe: Market Size, by Solutions, 2018-2025 (USD Million)
Table 74 Europe: Market Size, by Services, 2018-2025 (USD Million)
Table 75 Europe: Market Size, by Insurance Coverage, 2018-2025 (USD Million)
Table 76 Europe: Market Size, by Insurance Type, 2018-2025 (USD Million)
Table 77 Europe: Market Size, by Organization Size, 2018-2025 (USD Million)
Table 78 Europe: Market Size, by End-User, 2018-2025 (USD Million)
Table 79 Europe: Market Size, by Technology Provider, 2018-2025 (USD Million)
Table 80 Europe: Market Size, by Insurance Provider, 2018-2025 (USD Million)
Figure 61 Europe: Country-Wise Analysis
Table 81 Europe: Market Size, by Country, 2018-2025 (USD Million)
11.3.4 United Kingdom
Table 82 United Kingdom: Cyber Insurance Market Size, by End-User, 2018-2025 (USD Million)
Table 83 United Kingdom: Market Size, by Component, 2018-2025 (USD Million)
Table 84 United Kingdom: Market Size, by Insurance Coverage, 2018-2025 (USD Million)
Table 85 United Kingdom: Market Size, by Insurance Type, 2018-2025 (USD Million)
Table 86 United Kingdom: Market Size, by Organization Size, 2018-2025 (USD Million)
11.3.5 Germany
Table 87 Germany: Cyber Insurance Market Size, by End-User, 2018-2025 (USD Million)
Table 88 Germany: Market Size, by Component, 2018-2025 (USD Million)
Table 89 Germany: Market Size, by Insurance Coverage, 2018-2025 (USD Million)
Table 90 Germany: Market Size, by Insurance Type, 2018-2025 (USD Million)
Table 91 Germany: Market Size, by Organization Size, 2018-2025 (USD Million)
11.3.6 France
Table 92 France: Cyber Insurance Market Size, by End-User, 2018-2025 (USD Million)
Table 93 France: Market Size, by Component, 2018-2025 (USD Million)
Table 94 France: Market Size, by Insurance Coverage, 2018-2025 (USD Million)
Table 95 France: Market Size, by Insurance Type, 2018-2025 (USD Million)
Table 96 France: Market Size, by Organization Size, 2018-2025 (USD Million)
11.3.7 Rest of Europe
Table 97 Rest of Europe: Cyber Insurance Market Size, by End-User, 2018-2025 (USD Million)
Table 98 Rest of Europe: Market Size, by Component, 2018-2025 (USD Million)
Table 99 Rest of Europe: Market Size, by Insurance Coverage, 2018-2025 (USD Million)
Table 100 Rest of Europe: Market Size, by Insurance Type, 2018-2025 (USD Million)
Table 101 Rest of Europe: Market Size, by Organization Size, 2018-2025 (USD Million)
11.4 Asia-Pacific
11.4.1 Asia-Pacific: Market Drivers
11.4.2 Cybersecurity Spending: by Asia-Pacific, 2019 (USD Billion)
Table 102 Asia-Pacific, Cybersecurity Spending, 2019 (USD Billion)
11.4.3 Asia-Pacific: Regulatory Landscape
Table 103 Asia-Pacific: Country-Wise Regulation Bodies
Figure 62 Asia-Pacific: Market Snapshot
Figure 63 Insurance Provider Segment to Grow at Higher CAGR During Forecast Period in Asia-Pacific
Table 104 Asia-Pacific: Cyber Insurance Market Size, by Component, 2018-2025 (USD Million)
Table 105 Asia-Pacific: Market Size, by Solutions, 2018-2025 (USD Million)
Table 106 Asia-Pacific: Market Size, by Services, 2018-2025 (USD Million)
Table 107 Asia-Pacific: Market Size, by Insurance Coverage, 2018-2025 (USD Million)
Table 108 Asia-Pacific: Market Size, by Insurance Type, 2018-2025 (USD Million)
Table 109 Asia-Pacific: Market Size, by Organization Size, 2018-2025 (USD Million)
Table 110 Asia-Pacific: Market Size, by End-User, 2018-2025 (USD Million)
Table 111 Asia-Pacific: Market Size, by Technology Provider, 2018-2025 (USD Million)
Table 112 Asia-Pacific: Market Size, by Insurance Provider, 2018-2025 (USD Million)
Figure 64 Asia-Pacific: Country-Wise Analysis
Table 113 Asia-Pacific: Market Size, by Country, 2018-2025 (USD Million)
11.4.4 Australia and New Zealand
Table 114 Australia and New Zealand: Cyber Insurance Market Size, by End-User, 2018-2025 (USD Million)
Table 115 Australia and New Zealand: Market Size, by Component, 2018-2025 (USD Million)
Table 116 Australia and New Zealand: Market Size, by Insurance Coverage, 2018-2025 (USD Million)
Table 117 Australia and New Zealand: Market Size, by Insurance Type, 2018-2025 (USD Million)
Table 118 Australia and New Zealand: Market Size, by Organization Size, 2018-2025 (USD Million)
11.4.5 China
Table 119 China: Cyber Insurance Market Size, by End-User, 2018-2025 (USD Million)
Table 120 China: Market Size, by Component, 2018-2025 (USD Million)
Table 121 China: Market Size, by Insurance Coverage, 2018-2025 (USD Million)
Table 122 China: Market Size, by Insurance Type, 2018-2025 (USD Million)
Table 123 China: Market Size, by Organization Size, 2018-2025 (USD Million)
11.4.6 Japan
Table 124 Japan: Cyber Insurance Market Size, by End-User, 2018-2025 (USD Million)
Table 125 Japan: Market Size, by Component, 2018-2025 (USD Million)
Table 126 Japan: Market Size, by Insurance Coverage, 2018-2025 (USD Million)
Table 127 Japan: Market Size, by Insurance Type, 2018-2025 (USD Million)
Table 128 Japan: Market Size, by Organization Size, 2018-2025 (USD Million)
11.4.7 Singapore
Table 129 Singapore: Cyber Insurance Market Size, by End-User, 2018-2025 (USD Million)
Table 130 Singapore: Market Size, by Component, 2018-2025 (USD Million)
Table 131 Singapore: Market Size, by Insurance Coverage, 2018-2025 (USD Million)
Table 132 Singapore: Market Size, by Insurance Type, 2018-2025 (USD Million)
Table 133 Singapore: Market Size, by Organization Size, 2018-2025 (USD Million)
11.4.8 Rest of Asia-Pacific
Table 134 Rest of Asia-Pacific: Cyber Insurance Market Size, by End-User, 2018-2025 (USD Million)
Table 135 Rest of Asia-Pacific: Market Size, by Component, 2018-2025 (USD Million)
Table 136 Rest of Asia-Pacific: Market Size, by Insurance Coverage, 2018-2025 (USD Million)
Table 137 Rest of Asia-Pacific: Market Size, by Insurance Type, 2018-2025 (USD Million)
Table 138 Rest of Asia-Pacific: Market Size, by Organization Size, 2018-2025 (USD Million)
11.5 Middle East and Africa
11.5.1 Middle East and Africa: Market Drivers
11.5.2 Cybersecurity Spending: by Middle East and Africa, 2019 (USD Billion)
Table 139 Middle East and Africa, Cybersecurity Spending, 2019 (USD Billion)
11.5.3 Middle East and Africa: Regulatory Landscape
Table 140 Middle East and Africa: Country-Wise Regulation Bodies
Figure 65 Insurance Provider Segment to Grow at Higher CAGR During Forecast Period in Middle East and Africa
Table 141 Middle East and Africa: Cyber Insurance Market Size, by Component, 2018-2025 (USD Million)
Table 142 Middle East and Africa: Market Size, by Solutions, 2018-2025 (USD Million)
Table 143 Middle East and Africa: Market Size, by Services, 2018-2025 (USD Million)
Table 144 Middle East and Africa: Market Size, by Insurance Coverage, 2018-2025 (USD Million)
Table 145 Middle East and Africa: Market Size, by Insurance Type, 2018-2025 (USD Million)
Table 146 Middle East and Africa: Market Size, by Organization Size, 2018-2025 (USD Million)
Table 147 Middle East and Africa: Market Size, by End-User, 2018-2025 (USD Million)
Table 148 Middle East and Africa: Market Size, by Technology Provider, 2018-2025 (USD Million)
Table 149 Middle East and Africa: Market Size, by Insurance Provider, 2018-2025 (USD Million)
Table 150 Middle East and Africa: Market Size, by Sub Region, 2018-2025 (USD Million)
11.5.4 Middle East
Table 151 Middle East: Cyber Insurance Market Size, by End-User, 2018-2025 (USD Million)
Table 152 Middle East: Market Size, by Component, 2018-2025 (USD Million)
Table 153 Middle East: Market Size, by Insurance Coverage, 2018-2025 (USD Million)
Table 154 Middle East: Market Size, by Insurance Type, 2018-2025 (USD Million)
Table 155 Middle East: Market Size, by Organization Size, 2018-2025 (USD Million)
11.5.5 Africa
Table 156 Africa: Cyber Insurance Market Size, by End-User, 2018-2025 (USD Million)
Table 157 Africa: Market Size, by Component, 2018-2025 (USD Million)
Table 158 Africa: Market Size, by Insurance Coverage, 2018-2025 (USD Million)
Table 159 Africa: Market Size, by Insurance Type, 2018-2025 (USD Million)
Table 160 Africa: Market Size, by Organization Size, 2018-2025 (USD Million)
11.6 Latin America
11.6.1 Latin America: Market Drivers
11.6.2 Cybersecurity Spending: by Latin America, 2019 (USD Billion)
Table 161 Latin America, Cybersecurity Spending, 2019 (USD Billion)
11.6.3 Latin America: Regulatory Landscape
Table 162 Latin America: Country-Wise Regulation Bodies
Figure 66 Insurance Provider Segment to Grow at Higher CAGR During Forecast Period in Latin America
Table 163 Latin America: Cyber Insurance Market Size, by Component, 2018-2025 (USD Million)
Table 164 Latin America: Market Size, by Solutions, 2018-2025 (USD Million)
Table 165 Latin America: Market Size, by Services, 2018-2025 (USD Million)
Table 166 Latin America: Market Size, by Insurance Coverage, 2018-2025 (USD Million)
Table 167 Latin America: Market Size, by Insurance Type, 2018-2025 (USD Million)
Table 168 Latin America: Market Size, by Organization Size, 2018-2025 (USD Million)
Table 169 Latin America: Market Size, by End-User, 2018-2025 (USD Million)
Table 170 Latin America: Market Size, by Technology Provider, 2018-2025 (USD Million)
Table 171 Latin America: Market Size, by Insurance Provider, 2018-2025 (USD Million)
Table 172 Latin America: Market Size, by Country, 2018-2025 (USD Million)
11.6.4 Brazil
Table 173 Brazil: Cyber Insurance Market Size, by End-User, 2018-2025 (USD Million)
Table 174 Brazil: Market Size, by Component, 2018-2025 (USD Million)
Table 175 Brazil: Market Size, by Insurance Coverage, 2018-2025 (USD Million)
Table 176 Brazil: Market Size, by Insurance Type, 2018-2025 (USD Million)
Table 177 Brazil: Market Size, by Organization Size, 2018-2025 (USD Million)
11.6.5 Mexico
Table 178 Mexico: Cyber Insurance Market Size, by End-User, 2018-2025 (USD Million)
Table 179 Mexico: Market Size, by Component, 2018-2025 (USD Million)
Table 180 Mexico: Market Size, by Insurance Coverage, 2018-2025 (USD Million)
Table 181 Mexico: Market Size, by Insurance Type, 2018-2025 (USD Million)
Table 182 Mexico: Market Size, by Organization Size, 2018-2025 (USD Million)
11.6.6 Rest of Latin America
Table 183 Rest of Latin America: Cyber Insurance Market Size, by End-User, 2018-2025 (USD Million)
Table 184 Rest of Latin America: Market Size, by Component, 2018-2025 (USD Million)
Table 185 Rest of Latin America: Market Size, by Insurance Coverage, 2018-2025 (USD Million)
Table 186 Rest of Latin America: Market Size, by Insurance Type, 2018-2025 (USD Million)
Table 187 Rest of Latin America: Market Size, by Organization Size, 2018-2025 (USD Million)
12 Competitive Landscape
12.1 Introduction
12.2 Market Evaluation Framework
Figure 67 Market Evaluation Framework
12.3 Key Player Strategies/Right to Win
12.3.1 Overview of Strategies Deployed by Key Cyber Insurance Technology Vendors
12.4 Revenue Analysis of Top Market Players
Figure 68 Revenue Analysis of Cyber Insurance Market in 2020
12.5 COVID-19 Impact: Revenue Analysis of Insurance Providers
12.5.1 COVID-19 Impact and Revenue Analysis of Insurance Providers
12.6 Historic Revenue Analysis
Figure 69 Historic Five Years Revenue Analysis of Leading Cyber Insurance Providers
12.7 Competitive Evaluation Matrix, 2020
12.7.1 Star
12.7.2 Emerging Leader
12.7.3 Pervasive
12.7.4 Participant
Figure 70 Cyber Insurance Market (Global), Competitive Evaluation Matrix, 2020
12.8 Strength of Product Portfolio Analysis of Top Technology Players
Figure 71 Product Footprint Analysis of Top Technology Players in Market
12.9 Business Strategy Excellence Analysis of Top Technology Players
Figure 72 Business Strategy Excellence Analysis of Top Technology Players in Market
12.10 Startup/SME Evaluation Matrix, 2020
12.10.1 Progressive Companies
12.10.2 Responsive Companies
12.10.3 Dynamic Companies
12.10.4 Starting Blocks
Figure 73 Cyber Insurance Market (Global), Startup/Sme Evaluation Matrix, 2020
12.11 Ranking of Key Technology Players in Market, 2020
Figure 74 Ranking of Key Technology Players, 2020
12.12 Ranking of Key Insurance Providers in Market, 2020
Figure 75 Ranking of Cyber Insurance Providers, 2020
13 Company Profiles
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, Analyst's View)*
13.1 Introduction
13.2 Technology Providers Profiles
13.3 Bitsight
13.4 Prevalent
13.5 Redseal
13.6 Securityscorecard
13.7 Cyber Indemnity Solutions
13.8 Cisco
Figure 76 Cisco: Company Snapshot
13.9 Upguard
13.10 Microsoft
Figure 77 Microsoft: Company Snapshot
13.11 Check Point
Figure 78 Check Point: Company Snapshot
13.12 Attackiq
13.13 Sentinelone
13.14 Broadcom
13.15 Accenture
13.16 Kenna Security
13.17 Cylance
13.18 Fireeye
13.19 Cyberark
13.20 CYE
13.21 Securit360
13.22 Founder Shield
13.23 Insurance Providers Profiles
13.24 Chubb
13.25 Axa Xl
13.26 AIG
13.27 Travelers
13.28 Beazley
13.29 Allianz
13.30 Aon
13.31 Arthur J. Gallagher
13.32 Axis Capital
13.33 Cna
13.34 Fairfax
13.35 Liberty Mutual Holding
13.36 Lloyd's of London
13.37 Lockton
13.38 Munich Re
13.39 Sompo International
13.40 Startup/SME Profiles
13.40.1 At-Bay
13.40.2 Cybernance
13.40.3 Coalition
13.40.4 Arceo
13.40.5 Kovrr
13.40.6 Sayata Labs
13.40.7 Zeguro
13.40.8 Risksense
13.40.9 Cyence (Acquired by Guidewire Software)
13.40.10 Safebreach
13.40.11 Cronus Cyber Technologies
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, Analyst's View Might Not be Captured in Case of Unlisted Companies.
14 Adjacent Market
14.1 Introduction
14.2 Limitations
14.3 Cybersecurity
14.3.1 Introduction
14.3.2 Market Estimates and Forecast, by Component, 2016-2023 (USD Billion)
Table 188 Cybersecurity Market Size, by Component, 2016-2023 (USD Billion)
14.3.3 Market Estimates and Forecast, by Vertical, 2016-2023 (USD Billion)
Table 189 Cybersecurity Market Size, by Industry Vertical, 2016-2023 (USD Billion)
14.4 Digital Insurance Platform
14.4.1 Introduction
14.4.2 Digital Insurance Platform Market Size, by Component, 2016-2023 (USD Billion)
Figure 79 Services Segment to Grow at Higher CAGR During Forecast Period
Table 190 Digital Insurance Platform Market Size, by Component, 2016-2023 (USD Billion)
14.4.3 Digital Insurance Platform Market Size, by End-User, 2016-2023 (USD Billion)
Figure 80 Aggregators Segment to Grow at Highest CAGR During Forecast Period
Table 191 Digital Insurance Platform Market Size, by End-User, 2016-2023 (USD Billion)
14.5 Insurance Analytics
14.5.1 Introduction
14.5.2 Insurance Analytics Market Size, by Component, 2016-2023 (USD Million)
Figure 81 Tools Segment to Have Larger Market Size During Forecast Period
Table 192 Insurance Analytics Market Size, by Component, 2016-2023 (USD Million)
14.5.3 Insurance Analytics Market Size, by End-User, 2016-2023 (USD Million)
Figure 82 Insurance Companies Segment to Have Largest Market Size During Forecast Period
Table 193 Insurance Analytics Market Size, by End-User, 2016-2023 (USD Million)
15 Appendix
15.1 Discussion Guide
Executive Summary
Companies Mentioned
- Accenture
- AIG
- Allianz
- Aon
- Arceo
- Arthur J. Gallagher
- At-Bay
- Attackiq
- Axa Xl
- Axis Capital
- Beazley
- Bitsight
- Broadcom
- Chubb
- Cisco
- CNA
- Coalition
- Cronus Cyber Technologies
- Cyber Indemnity Solutions
- Cyberark
- Cybernance
- CYE
- Cyence (Acquired by Guidewire Software)
- Cylance
- Fairfax
- Fireeye
- Founder Shield
- Insurance Providers Profiles
- Kenna Security
- Kovrr
- Liberty Mutual Holding
- Lloyd's of London
- Lockton
- Microsoft
- Munich RE
- Prevalent
- Redseal
- Risksense
- Safebreach
- Sayata Labs
- Securit360
- Securityscorecard
- Sentinelone
- Sompo International
- Travelers
- Upguard
- Zeguro
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 283 |
| Published | October 2020 |
| Forecast Period | 2020 - 2025 |
| Estimated Market Value ( USD | $ 7.8 billion |
| Forecasted Market Value ( USD | $ 20.4 billion |
| Compound Annual Growth Rate | 21.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 47 |
