The text discusses the importance of AI in solving the widening cybersecurity insurance gap. It emphasizes the need for risk assessments based on AI-driven insights to reduce the probability of cyber breaches. Cyber insurers are focused on improving and augmenting cybersecurity strategies through real-time risk assessments, underwriting improvements, and streamlining claims processing using AI. The current state of cyber insurance is highlighted, with ransomware, social engineering, phishing, and privileged access credential attacks increasing premiums and making cyber insurance unaffordable for many businesses. The text also mentions the use of AI in reducing the time and costs of risk assessments, as well as the role of human expertise in cyber insurance.
| Signal | Change | 10y horizon | Driving force |
|---|---|---|---|
| Increase in demand for AI-driven risk assessments in cyber insurance | From manual risk assessments to AI-driven real-time insights | AI-driven risk assessments will be standard in the cyber insurance industry | Reduction in claims costs and insurance premiums |
| Rising premiums making cyber insurance unaffordable for businesses | From affordable to unaffordable cyber insurance for businesses | More businesses will be unable to afford cyber insurance | Increase in cyber attacks and related insurance claims |
| Use of AI in underwriting and claims processing in cyber insurance | From manual processes to automated AI-based processes | Faster and more efficient underwriting and claims processing | Reduction in time and costs associated with risk assessments and claims processing |
| Integration of AI in cybersecurity platforms for insurability | From traditional cybersecurity to AI-native cyber protection | AI-native cyber protection will become a prerequisite for cyber insurance | Reduction in premiums for insured clients |
| Focus on human-in-the-middle AI workflows in cyber insurance | From solely AI-powered defenses to a combination of AI and human expertise | Human expertise will be an essential part of cyber insurance workflows | Improvement and continuous enhancement of cyber defense |
| Use of predictive attack paths in cyber insurance | From reactive to proactive cyber defense strategies | Proactive cyber defense to anticipate and prevent attacks | Reduction in risk and probability of widespread cyber events |
| Efforts to make cyber insurance more accessible and inclusive | From exclusive to accessible cyber insurance for rejected companies | More companies will have access to cyber insurance coverage | Identification of necessary tools and platforms to reduce breach probability |