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Cyber Re(Insurance) and Digital Transformation 18.02.2025 Tuesday 10.45 - 11.30

Navigating the New Frontier

Join us for an insightful Stage Cession exploring the dynamic intersection of cyber reinsurance and digital transformation in the insurance and reinsurance industry. As we navigate the landscape of 2025, these two areas have become critical drivers of innovation and risk management.

Key Topics:

Current trends in cyber reinsurance market
Digital transformation initiatives reshaping insurance operations
Integration of AI and machine learning in underwriting and claims processing
Regulatory considerations for cyber risk and digital processes

Challenges in Cyber Reinsurance and Digital Transformation:

1.Accumulation Risk: Managing the potential for large-scale, correlated cyber events affecting multiple insureds simultaneously.
2.Data Quality and Availability: Ensuring reliable and comprehensive data for accurate risk assessment and pricing in cyber reinsurance.
3.Rapidly Evolving Threat Landscape: Keeping pace with new cyber threats and attack vectors in reinsurance offerings.
4.Legacy System Integration: Overcoming challenges in integrating new digital solutions with existing insurance infrastructure.
5.Regulatory Compliance: Navigating the complex and evolving regulatory landscape for both cyber risk and digital processes in insurance.

Opportunities in Cyber Reinsurance and Digital Transformation:

1.Market Growth: The global cyber insurance market is projected to reach $39.3 billion by 2027, with reinsurance playing a crucial role in capacity provision.
2.Enhanced Risk Assessment: Leveraging AI and big data analytics for more accurate cyber risk evaluation and pricing.
3.Operational Efficiency: Automating underwriting and claims processes to reduce costs and improve customer experience.
4.Product Innovation: Developing new cyber reinsurance products and digital insurance solutions to address emerging risks.
5.Improved Resilience: Utilizing digital tools to enhance cybersecurity posture and incident response capabilities for insurers and their clients.

This cession offers a unique opportunity to gain insights from industry leaders at the forefront of cyber reinsurance and digital transformation. Attendees will explore cutting-edge trends, understand the latest technological advancements, and discover strategies for navigating the complex landscape of cyber risk and digital innovation in insurance.

Key Insights:

Reinsurance remains key to the growth of the cyber insurance market, providing necessary capacity and expertise.
AI and machine learning are being widely deployed across the insurance value chain, from risk assessment to claims processing.
The ransomware threat continues to evolve, with AI potentially enhancing both attack and defense capabilities.
Digital transformation is reshaping insurance operations, with a focus on personalization, efficiency, and improved customer experience.
Regulatory initiatives, such as the EU Artificial Intelligence Act, are shaping the governance of AI in insurance and reinsurance.

Join us to enhance your understanding of cyber reinsurance and digital transformation in insurance, and position your organization at the forefront of these rapidly evolving fields.

Register now to secure your spot!