Cyber

These myths prevent accurate assessment of risk and hamper the implementation of measures that can protect critical assets.

Venturing into uncharted territory can be hazardous -- especially when we don’t know the scope of the hazards.

Two big problems: There is absolutely no standardization in the data that cyber insurers collect, and it quickly becomes outdated.

As the world becomes more connected, cyber risk appears as a bigger threat on the digital transformation journey of insurance companies.

Bank customers must use both a physical debit card and a PIN. For increased security, insurers need similar multifactor identification.

"Insurers don’t have the skillset to produce what customers want to buy; cyber products don’t cover the risks that clients are concerned about."

Cyberecurity is a company-wide issue, and quantifiable metrics not only unify language but also test and demonstrate success.

Executive teams must urgently stop thinking about cyber risk as an IT issue and lead a shift to managing its impact across the entire organization.