The insurance industry is moving towards boosting cybersecurity protections and having insurance companies set more clear and uniform standards for cyber defense. The growing emphasis on this sector of insurance is opening up an expanded market for the assessment services of third-party security vendors and channel partners such as FireEye, a network and security protections company dealing with issues such as malware and cyber threats.
According to Steve Pataky, vice president of worldwide channels and alliances at FireEye, with cyber insurance growth will come growth in the demand for malware protection, risk assessment, and evaluation of the damage done in situations where data is compromised through an attack.
Services such as these are offered by channel partners such as FireEye, and these companies stand to gain much from the industry’s expansion into cybersecurity insurance. The newness of the cyber problem means there is not as much industry data and experience to inform insurance companies and brokers, leaving space open for these channel partners to move into the insurance “ecosystem” and contribute to innovation and advancement in cybersecurity programs.