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Cybersecurity Insurance Market Report 2022: Adoption of Artificial Intelligence and Blockchain Technology for Risk Analytics Presents Opportunities

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Dublin, July 06, 2022 (GLOBE NEWSWIRE) — The “Cybersecurity Insurance Market by Component (Solutions and Services), Type (Standalone & Packaged), Coverage (Data Breach & Cyber Liability), Organization Size, End User (Technology & Insurance) and Region – Global Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.

The global cybersecurity insurance market size in the post-COVID-19 scenario is projected to grow from USD 11.9 billion in 2022 to USD 29.2 billion by 2027, at a CAGR of 19.6% during the forecast period.

By insurance coverage, the cyber liability segment is expected to hold a larger market size during the forecast period

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 cybersecurity 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 cybersecurity insurance solutions. Cyber liability coverage policies can assist insurers to offer first-party and third party cyber coverage to prevent from the post effects of a security breach that could result in critical business losses.

Key Topics Covered:

1 Introduction

2 Research Methodology

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3 Executive Summary

4 Premium Insights
4.1 Increasing Cyber and Ransomware Attacks to Drive Market Growth
4.2 Cybersecurity Insurance Analytics Platforms and Cyber Liability Segment to Account for Largest Market Size in 2022
4.3 Cybersecurity Insurance Analytics Platforms and Cyber Liability Segment to Account for Largest Market Size in 2022
4.4 Cybersecurity Insurance Analytics Platforms and Cyber Liability Segment to Account for Largest Market Size in 2022
4.5 Singapore to Grow at Highest Rate During Forecast Period

5 Market Overview
5.1 Market Dynamics
5.1.1 Drivers
5.1.1.1 Surge in Mandatory Cybersecurity Regulations and Legislation to Boost Demand for Insurance Protection
5.1.1.2 High Rate of Recovery of Financial Losses to Promote Market Growth
5.1.1.3 Increase in Frequency and Sophistication of Cyber Threats
5.1.2 Restraints
5.1.2.1 Lack of Awareness Related to Cybersecurity Insurance and Reluctance in Choosing Cybersecurity Insurance Over Cybersecurity Solutions
5.1.2.2 Soaring Cybersecurity Insurance Costs
5.1.3 Opportunities
5.1.3.1 Exclusion of Cybersecurity 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
5.3 Value Chain Analysis
5.4 Ecosystem
5.5 Average Selling Price Trend
5.6 Technology Analysis
5.7 Cybersecurity Regulatory Implications
5.8 Use Cases
5.9 Patent Analysis
5.10 Porter’s Five Forces Model

6 Cybersecurity Insurance Market, by Component
6.1 Introduction
6.1.1 Component: Market Drivers
6.1.2 Component: COVID-19 Impact
6.2 Solutions
6.2.1 to Provide High Data Security and Prevent Data Breaches
6.2.2 Cybersecurity Insurance Analytics Platforms
6.2.3 Disaster Recovery and Business Continuity
6.2.4 Cybersecurity Solutions
6.2.4.1 Cyber Risk and Vulnerability Assessment
6.2.4.2 Cybersecurity Resilience
6.3 Services
6.3.1 Need for Professional Consultants to Provide 24/7 Service Response
6.3.2 Consulting/Advisory
6.3.3 Security Awareness Training
6.3.4 Other Services

7 Cybersecurity Insurance Market, by Insurance Coverage
7.1 Introduction
7.1.1 Insurance Coverage: Market Drivers
7.1.2 Insurance Coverage: COVID-19 Impact
7.2 Data Breach
7.2.1 to Protect Business Against Security and Cyber Breaches
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 to Reduce Data Recovery Cost from Data Breaches and Cyberattacks
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

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8 Cybersecurity Insurance Market, by Insurance Type
8.1 Introduction
8.1.1 Insurance Types: Market Drivers
8.1.2 Insurance Types: COVID-19 Impact
8.2 Packaged
8.2.1 to Enhance Digital Transformation and Support Traditional Policies
8.3 Standalone
8.3.1 to Manage Complex Cyber Risks and Improve Cyber Risk Protection

9 Cybersecurity Insurance Market, by Organization Size
9.1 Introduction
9.1.1 Organization Size: Market Drivers
9.1.2 Organization Size: COVID-19 Impact
9.2 Large Enterprises
9.2.1 Large Enterprises Developing a Strong Security System to Prevent Cyberattacks
9.3 Small- and Medium-Sized Enterprises
9.3.1 to Reduce Financial Losses due to Cyberattacks

10 Cybersecurity Insurance Market, by End-User
10.1 Introduction
10.1.1 End-Users: Market Drivers
10.1.2 End-Users: COVID-19 Impact
10.2 Technology Providers
10.2.1 Need for Cybersecurity Insurance Packages Has Increased to Support Digital Transformation
10.2.2 End-Users: Cybersecurity Insurance Market Drivers
10.2.3 Insurance Companies
10.2.4 Third-Party Administrators, Brokers, and Consultancies
10.2.5 Government Agencies
10.3 Insurance Providers
10.3.1 to Underwrite Insurance Policies for Improving Cybersecurity Systems of Organizations
10.3.2 Financial Services
10.3.3 Healthcare and Life Sciences
10.3.4 Retail and Ecommerce
10.3.5 Telecom
10.3.6 Travel, Tourism, and Hospitality

11 Cybersecurity Insurance Market, by Region

12 Competitive Landscape

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13 Company Profiles

Companies Mentioned

  • Accenture
  • AIG
  • Allianz
  • AON
  • Arceo
  • Arthur J Gallagher
  • At-Bay
  • Attackiq
  • AXA Xl
  • Axis Capital
  • Beazley
  • Bitsight
  • Broadcom
  • Check Point
  • 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
  • Kovrr
  • Liberty Mutual Holding
  • Lloyd’s of London
  • Lockton
  • Microsoft
  • Munich RE
  • Prevalent
  • Redseal
  • Risksense
  • Safebreach
  • Sayata Labs
  • Securit
  • Securityscorecard
  • Sentinelone
  • Sompo International
  • Travelers
  • Upguard
  • Zeguro

For more information about this report visit https://www.researchandmarkets.com/r/7a8f5s

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Artificial Intelligence

MacPaw Recognized a Finalist in the Social Impact Award at the 2024 Reuters Events Sustainability Awards: Honored for Pioneering Innovation and Social Responsibility

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KYIV, Ukraine, Oct. 2, 2024 /PRNewswire/ — MacPaw, a leading Ukrainian software company, has been named a finalist for the prestigious 2024 Reuters Sustainability Awards in the Social Impact category, standing out as the only Ukrainian company recognized in this field. This recognition highlights MacPaw’s exceptional efforts in ensuring safety, well-being, and innovation during adversity following the full-scale Russian invasion of Ukraine.

MacPaw’s entry, titled “Ensuring Safety and Well-being while Fostering Innovation: MacPaw’s Journey During Adversity,” underscores the company’s commitment to its employees and users, as well as the broader Ukrainian community. Despite the unprecedented challenges of wartime, MacPaw has continued to thrive, supporting millions of users across the world while spearheading vital social and humanitarian initiatives. We see Ukrainian innovation not only surviving but thriving. It’s a testament to Ukraine’s place in the tech world.
Key Achievements:
Humanitarian Aid and Recovery: Since February 2022, MacPaw has donated over $10 million to various charitable causes, driving significant change across Ukraine. MacPaw Foundation, a corporate charity, provided vital support to over 10,000 Ukrainians affected by the full-scale Russian invasion, ensuring they received the care and resources needed in times of adversity.Empowering Communities: Through the MacPaw Cares corporate social responsibility program, the company impacted 30+ social projects in 10 regions, focusing on supporting communities locally and globally, boosting sustainability effort, helping people in need, fostering local tech talent, inclusivity, and restoring access to education.Employee Support: The company implemented flexible mental health policies, offering dedicated support sessions, mental health surveys, and assistance to employees affected by the full-scale Russian invasion.Veterans Integration: MacPaw has launched a Veterans Integration Program to assist veterans in reintegrating into the company’s work and social life.Innovation in Crisis: Despite the war challenges, MacPaw introduced breakthrough products SpyBuster, ClearVPN, CleanMyPhone, Setapp Mobile. MacPaw also started a cybersecurity division that focuses exclusively on the cybersecurity needs of Mac users, Moonlock. Showcasing the commitment to the community, MacPaw developed Together App — a wartime check-in tool that helps employers monitor their team’s well-being and safety during the war.”We are honored to be recognized as Finalist in the Social Impact Award at the Reuters Events Sustainability Awards 2024 for our social impact efforts, especially as Russia’s invasion of Ukraine continues,” said Anna Manukhina, Director of MacPaw Foundation and CSR Lead at MacPaw. “This nomination reaffirms our commitment to supporting Ukraine and fostering innovation even in the times. Whether through mental health support, humanitarian aid, or product development, MacPaw’s initiatives reflect our mission to make a meaningful global impact.”
The 2024 Reuters Sustainability Awards are among the world’s most distinguished recognitions in sustainable development. It is more than just a recognition of the best sustainability strategies; it honors those who truly impact business, society, and the environment, creating a new way of doing business in the 21st century. Over the past 14 years, the award has served as a benchmark for companies worldwide.
For more information about MacPaw’s social impact initiatives, visit MacPaw’s Social Impact Review.
About MacPaw
MacPaw develops and distributes innovative software for macOS and iOS that simplifies the lives of Mac users. Renowned for its meticulously crafted products, such as CleanMyMac X, CleanMy®Phone, Setapp, and ClearVPN, and known for its Moonlock cybersecurity division, MacPaw is dedicated to enhancing and securing the Mac user experience. Founded in Kyiv, Ukraine, with offices in Boston, MacPaw serves millions of users worldwide. With one in every five Mac users having at least one MacPaw app, the company is a trusted leader in the Mac software ecosystem.
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Media Contact: Oleksandra LytvynenkoPR [email protected]

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When Evaluating Vendors, 64% of Manufacturers Surveyed Cite Strong Onboarding and Ongoing Support as Crucial

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NEW YORK, Oct. 2, 2024 /PRNewswire/ — Global technology intelligence firm ABI Research recently completed its 2024 Manufacturers’ Technology Adoption & Attitudes Survey, a comprehensive survey of 461 manufacturing decision-makers across the United States, Malaysia, and Germany to uncover real-world attitudes, adoption trends, and valuable insights that reflect the current technological landscape within the manufacturing industry. When asked which criteria were most important when evaluating a new solution or vendor, 64% of respondents ranked a robust onboarding process with training, resources, and post-sales follow-up as the most critical. 

“Improving quality and productivity levels are key objectives for survey respondents. However, an overriding concern is how to deploy the technologies to achieve those objectives. Manufacturers require assurance that they will receive adequate support and training resources to quickly adapt, along with ongoing follow-up from the vendor,” explains Michael Larner, Distinguished Analyst at ABI Research.
Vendors often prioritize outlining potential investment outcomes to provide evidence of return on investment. Benefits will take longer to accrue if users cannot fully understand and properly utilize the solution. To avoid this, the vendor or their partners must be present during the initial launch, provide training resources that enable users to map the solution to their workflows, and adhere to a strict follow-up plan with the customer. These measures will require investment in the post-sales process, emphasizing partners’ education so that they effectively represent the vendor in onboarding processes.
The survey further revealed that recruiting and retaining staff is challenging for manufacturers. The lack of skills underscores the concerns not only regarding deploying technologies but also fully grasping the opportunities that digital technologies offer.  “Hand holding by the vendor will be required when manufacturers are devising Proofs of Concept (PoCs), evaluating suppliers, and implementing solutions at their facilities,” Larner concludes.
These findings are from ABI Research’s Industrial and Manufacturing Survey 1H 2024: What Are Respondents Looking for from Vendors? report. This report is part of the company’s Industrial & Manufacturing Technologies research service, which includes research, data, and ABI Insights.
About ABI Research
ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.
ABI Research是一家全球性的技术情报公司,拥有得天独厚的优势,充当终端市场公司和技术解决方案提供商之间的桥梁,通过提供独家研究和专业性指导,推动成功的技术实施和提供经证明可吸引和留住客户的战略,无缝连接这两大主体。
For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.
Contact Info: 
GlobalDeborah PetraraTel: [email protected]  
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Scale Computing Offers Simple, Secure, Reliable IT Infrastructure to Guard Against Data-Hungry Ghouls

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Company Gifting Retro Polaroid Cameras to End Users in North America and Europe, Middle East, and Africa through November 8th
INDIANAPOLIS, Oct. 2, 2024 /PRNewswire/ — Scale Computing, the market leader in edge computing, virtualization, and hyperconverged solutions, today announced its new campaign targeting outdated IT infrastructure and calling on organizations to learn more about Scale Computing Platform’s (SC//Platform) future-ready solutions. Between now and November 8, 2024, end users in North America and Europe, Middle East, and Africa (EMEA) who register for a meeting will receive a retro Polaroid camera.

“Downtime, data loss, and corruption can happen at any moment, threatening your business. Instead of being plagued by data-hungry ghouls and goblins, we invite users to learn more about Scale Computing and our SC//Platform to maximize security, ensuring that critical systems are always protected, validated, and ready for recovery. Organizations of all sizes across all vertical industries can benefit from SC//Platform, which brings together simplicity and scalability, replacing existing outdated infrastructure. Users instead get high availability for running workloads in a single, easy-to-manage platform, while leveraging our patented self-healing technology to maintain maximum uptime for all applications,” said Jeff Ready, CEO and co-founder of Scale Computing.
October is Cybersecurity Awareness Month, dedicated to raising awareness about the importance of digital security and protecting personal data. As cyber criminals become more sophisticated, maintaining modern infrastructure with a strong cybersecurity posture is key to keeping critical business applications and data secured. The new campaign from Scale Computing aims to help businesses scare away threats and fortify their defenses against data-hungry ghouls.
SC//Platform provides infrastructure that is simple, secure, scalable, and reliable. Combine it with Scale Computing’s subscription-based Business Continuity/Disaster Recovery (BCDR) Planning Service to establish a comprehensive and regulated response plan for any unforeseen downtime. With SC//Platform, an organization’s critical systems will be protected, validated, tested, and always ready for recovery when the goblins strike.
Book your meeting today to ensure your business is prepared for whatever data-hungry dark forces come your way and receive a complimentary Polaroid camera. To learn more about Scale Computing and book your meeting, visit https://www.scalecomputing.com/landing-pages/guard-against-data-hungry-ghouls.
About Scale ComputingScale Computing is a leader in edge computing, virtualization, and hyperconverged solutions. Using patented HyperCore™ technology, Scale Computing Platform automatically identifies, mitigates, and corrects infrastructure problems in real-time, enabling applications to achieve maximum uptime, even when local IT resources and staff are scarce. Edge Computing is the fastest-growing area of IT infrastructure, and industry analysts have named Scale Computing an outperformer and leader in the space, including being named the #1 edge computing vendor by CRN. Scale Computing’s products are sold by thousands of value-added resellers, integrators, and service providers worldwide. When ease-of-use, high availability, and TCO matter, Scale Computing Platform is the ideal infrastructure platform. Read what our customers have to say on Gartner Peer Insights, G2, and TrustRadius.
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