KPMG´s most recent study, “Digitalisation and Cyber”, illustrates that insurers face major challenges but also numerous opportunities. Our cyber study demonstrates that insurers must actively prevent cyber attacks, but it also highlights that the cyber insurance line provides an enormous growth potential.
When speaking of the digitalisation potential for insurance companies, we have to consider the flip side of the coin: the growing number of cyber risks. This is a potential danger that insurers must face in protecting their own companies, but it also provides them a tremendous growth area in insurance. Companies and private households that want to protect themselves from cyber attacks by transferring risk or ensuring security in their internet activity are, for insurers, still a virtually untapped customer market.
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