Cyber Crime and the Insurance Industry

Technology has revolutionised the business world, from the way an organisation interacts with customers or clients to the way they store and read data. According to Allianz, by 2020 the data universe will reach 40 zettabytes – that’s the equivalent of every person in the world filling ten 64GB smart phones with data

 

The research also suggests cyber crime costs the world economy 445 billion dollars a year. The attacks varied from bringing down entire computer networks to large data breaches. But cyber crime doesn’t discriminate depending on the size of the company. The Federation of Small Businesses discovered that two thirds of their members have been a victim of cyber crime in the last two years.

 

And if you’re not insured, an attack could be very costly.

 

Nick Hewer discusses Cyber Crime and its implications with: 

Doug Needham, Information Security Officer at Allianz; 

Louise Stewart Director of Communications at the Federation of Small Businesses; 

Andy Thornley Head of Corporate Affairs at the British Insurance Brokers Association, 

Neil from National Crime National Cyber Security Centre.





Insurance Tomorrow - A Podcast from Allianz

 





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