The global insurance industry experienced a 332% rise in company filings mentions of cybersecurity in Q1 2023 compared with the previous quarter, with the highest share accounted for by Marsh & McLennan with 76% year-on-year increase, according to GlobalData’s analysis of over 172 insurance company filings. GlobalData’s Cybersecurity in Insurance – Thematic Research market report provides a detailed understanding on how Cybersecurity impacts the value chain in the Insurance sector, and the leading Cybersecurity adopters and vendors in the market. Buy the report here.
Notably, cybersecurity was one of the most frequently referenced themes in Q1 2023, ranking highest in terms of mentions, ahead of cloud and environment, according to GlobalData.
Of the top leading companies in the insurance industry, Marsh & McLennan had the greatest increase in references for cybersecurity in Q1 2023, compared with the previous quarter. GlobalData identified 60 cybersecurity-related sentences in the company's filings - 35% of all sentences - and an increase of 1400% in Q1 2023 compared with Q1 2022. American International Group Inc (AIG)’s mentions of cybersecurity rose by 1100% to 36 and Willis Towers Watson’s by 1000% to 35 and Cigna Group’s by 100% to 30 and Aflac’s by 1300% to 29.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for cybersecurity in Q1 2023 was 107.
To further understand GlobalData's analysis on Cybersecurity in Insurance - Thematic Research, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Company Filings Analytics uses machine learning to uncover key insights and track sentiment across millions of regulatory filings and other corporate disclosures for thousands of companies across the world’s largest industries.
