Tryg A/s · OMXCOP:TRYG
Tryg A/s — Carnegie Cyber Security (September 2021)
12 slides from Tryg A/s's conference presentation, Sep 15, 2021
Slide 1: Cyber security – a new business area for the insurance industry
Cyber security – a new business area for the insurance industry Mikkel Zimakoff, Director, Price & Commercial Development at Tryg September 15, 2021 1 9/13/2021
Slide 2: Cyber attack can happen to anyone
Cyber attack can happen to anyone Your personal files are ! encrypted! Private key will be destryed in: Time left Pay now 89:43:55 2 13-09-2021
Slide 3: Cyberattacks have high attention both globally and in Scandinavia…
Cyberattacks have high attention both globally and in Scandinavia… Estimated cyber losses >1M in 2018, DKK bn 22bn Cyber attacks ~300 mill. worries ransomware attacks worldwide almost all top 14.5bn in 2020 executives >11bn 6 out of 10 SMEs are most Danish companies >0.5% of GDP 0.6% of GDP 0.7% of
Slide 4: The Scandinavian countries are some of the most digitally developed making them vulnerable to cyber attacks
The Scandinavian countries are some of the most digitally developed making them vulnerable to cyber attacks Top 10 most digitalized countries vs. their cyber High dependency on IT systems among Danish security rank SMEs makes them vulnerable to cyber attacks 95% % of enterprises, Cyber Security 2018
Slide 5: Significant difference in the level of IT security across segments
Significant difference in the level of IT security across segments Level of IT security,% of enterprises split on segments, 2018 Increased IT investments, % of enterprises split on segments, 2017-2018 Do not have basic IT security Do not have standard IT security 84% Do not have advanced IT security
Slide 6: As an insurance company we see ourselves as part of the solution before, during and after cyber attacks
As an insurance company we see ourselves as part of the solution before, during and after cyber attacks Cyber attacks Before During After Company Role and importance Need access to Back to business as Prevention cyber risk experts usual Insurance Provide and cover Reconstruct data & Expertise, tools
Slide 7: So how can we exploit the high potential in the market?
So how can we exploit the high potential in the market? Active player in the cyber market Top obstacles for cyber insurance sales Not understanding 42% own exposure Be better at explaining cyber exposure Application process 15% and coverage Not understanding 15% Build expertise and awareness cov
Slide 8: We are building awareness through several platforms and in 2020 we provided eprotect for free
We are building awareness through several platforms and in 2020 we provided eprotect for free for a limited period 8 13-09-2021
Slide 9: We have a wide range of cyber products already
We have a wide range of cyber products already Primary products Additional covers eProtect Cyber insurance Crime insurance Compensate if a company eProtect is Tryg's cyber Cyber insurance is for employee commit crime insurance for smaller companies with more than against the company companies
Slide 10: Tryg highlights the importance of cybersecurity…
Tryg highlights the importance of cybersecurity… 10 13-09-2021
Slide 11: With cyber crime on the rise we recommend to introduce mandatory insurance to help prevent and combat cybercrime
With cyber crime on the rise we recommend to introduce mandatory insurance to help prevent and combat cybercrime Mandatory insurance against cyber Crime Main elements of the insurance should be: will: Significantly strengthen security of personal and Companies must implement basic security initi
Slide 12: We believe there is a great market potential, but we need to accelerate and build the market ourselves
We believe there is a great market potential, but we need to accelerate and build the market ourselves 2025 5. 1. Recover Identify 2020 2021 2022 2023 2024 2025 4. 2. Respond Protect 3. Detect 2022 New products and services 2021 (identify and protect) ”Vækstcenter Cyber” (Growth center Cyber) 12 13-