Writing the Unwritable: Lessons from Cyber on Unpredictable Specialty Underwriting
An exclusive Reuters Events whitepaper featuring insights from senior executives at Tokio Marine HCC, Aon, Ambridge Group & Trivora
As threats escalate and claims severity rises, how are underwriters redefining risk appetite? This whitepaper reveals what cyber is getting right (and wrong) and why every underwriter should pay attention to this dynamic landscape shaped by volatility and data-driven discipline.
In anticipation of Connected Underwriting USA 2025, we engaged with leading executives from top carriers to gain insights into their strategies for addressing these challenges.
Featuring perspectives from industry thought leaders:
5 Key Takeaways from this Whitepaper:
- Market Trends: The cyber insurance market is soft with increased capacity, but stable loss ratios could shift quickly due to rising cyber-attack frequency
- Innovation and Adaptability: Cyber insurance is a leader in tech adoption, offering a model for other insurance lines with its digital quoting and binding
- Risk Mitigation: Proactive measures, like network monitoring and incident response systems, are essential to prevent and manage cyber-attack losses
- Claims: Ransomware, wrongful data collection, and pixel tracking are common claims, with business interruptions often causing significant financial impact
- Geopolitical Tensions: Issues such as the Ukraine war impact the cyber threat landscape, requiring the sector to adapt underwriting strategies accordingly
Key insights to look out for:
“For most other lines of business, there are exposure changes over time. With property, for example, its more frequent or severe wildfires and windstorms, but that’s more of a gradual change. In cyber there are significant quarter-to-quarter fluctuations as well as events we haven’t yet encountered and that makes it both interesting and scary.”
Jacob Ingerslev, SVP, Cyber & Tech Underwriting, Tokio Marine HCC – Cyber & Professional Lines Group
“Carriers must also widen their data nets to secure the best insights. This includes claims data. “The best carrier insurtechs out there that are really leveraging claims data are not only using their own, they're using stuff they purchase. They're just constantly in touch with their vendor partners, and they have built really good relationships, which means they can add crucial context to their data.”
Caroline Thompson, Chief Underwriting Officer, Trivora
I hope you enjoy the insights!
Kind Regards,
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