Insurance industry cyber-awareness initiatives reviewed in the latest GFIA report

20 January 2021 — Daniela GHETU
The Global Federation of Insurance Associations (GFIA) has published a collection of some of the many cyber-risk and cyber-insurance awareness initiatives being undertaken by the insurance industry around the world.

As potentially being a source of inspiration for other similar entities, the collection of initiatives outlines their goals, communication methods, target audiences and partnerships, and observations on similarities between them. "We therefore set out to catalogue the efforts that insurance industry associations in various countries have undertaken, including information on their goals, communication methods, target audiences and partnerships, and to offer observations on similarities between them. Our hope is that learning about the types of approaches will inspire others to launch or expand their own cyber-awareness efforts and that in doing so we can help make our society safer than it is today," Stephen Simchak, Chair of the GFIA Cyber Risks Working Group stated in his introductory remarks of the report.

One of the report's findings was that "while all the associations had a range of target audiences for their efforts, they shared a focus on SMEs. Because they are smaller, SMEs often lack in-house cyber expertise, which leaves them without a full understanding of cyber risks and, therefore, particularly vulnerable. As a result, they stand to benefit most from cyber-awareness/education campaigns."

In addition, while it is still too early to know the full implications of the COVID-19 pandemic for cyber-awareness efforts, GFIA observed that some members had pivoted their cyber-education campaigns to cover pandemic-related cyber risks, as those induced by the increase in home working.

The full report is available here.

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