Always looking five years ahead and maintaining an education focus has been key to INSUREtrust’s continued success in the cyber market, says president and CEO Christiaan Durdaller.
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Insurance Business America – November 2022
Christiaan Durdaller, president and CEO of INSUREtrust, has been in the cyber market for 10 years, but in his view, the most recent years have heralded the greatest change.
“There’s been a big evolution every two to three years, but the biggest of the last 10 years have been the last two,” Durdaller told Insurance Business.
Broker understanding of cyber, which may historically have been a bit of an “afterthought or a very small part of a package,” has undergone a fundamental shift. For INSUREtrust, keeping broker partners and policyholders on the pulse of market developments has been key to success.
With the hardening of the market over the last 36 months, the understanding of the product, the need and the desire to place the cover, has grown beyond the point where it ever was before,” said Durdaller. ” I would say the understanding of the product and the ability to place it are a lot greater than they were even just a few years ago.”
The global cyber market, worth $7.49 billion in 2021, is expected to hit $28.45 billion by 2028, according to analysis by Vantage Market Research.
SOURCES: Insurance Business America