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Cybersecurity Insurance


ProcurementIQ’s Procurement Research Reports cover thousands of indirect purchasing lines. Our data and analysis help you strategically engage and negotiate with suppliers and give you the credibility to work with internal stakeholders and executives. ProcurementIQ’s Cybersecurity Insurance procurement research provides price trends and forecasts, supplier benchmarks and negotiation questions all intended to give your company leverage during the sourcing process.
doneBenchmark Price
doneRFP/RFQ/Negotiation Questions
done3 Year Price Forecast
doneSupply Chain Analysis
doneSupplier Intelligence
doneSample Buyer Decision Scorecard

Cybersecurity Insurance - Recent Price Trend

Premiums for cybersecurity insurance have been increasing at an estimated annualized rate of 4.2% in the three years to 2018. This increase in premiums has largely been driven by strengthening demand and rising input costs. However, competition among providers has offered some relief by slowing price growth.Growth in premiums has been motivated largely by greater demand for cybersecurity.

Cybersecurity Insurance - Total Cost of Ownership

The total cost of ownership for cybersecurity insurance is moderate. Buyers should therefore expect to spend between 50.0% and 100.0% of the benchmark price for coverage on additional costs. Moderate total cost of ownership is often detrimental to buyers because it can be more difficult for them to budget for purchases.In general, suppliers want to ensure that potential buyers have a robust IT.

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About this Report

This report is intended to assist buyers of cybersecurity insurance. Cybersecurity insurance mitigates buyers' financial losses from incidents that threaten their information technology (IT) infrastructures, including data breaches and computer hacking. Companies that maintain a large bank of user information, such as retailers, healthcare providers and data hosting providers commonly procure these insurance policies. Vendors include direct insurance providers and brokers. This report does not include general liability insurance, disaster recovery services or network security equipment.

Table of Contents

At a Glance

Executive Summary

Price Environment
 Price Fundamentals
  Benchmark Price
  Pricing Model
 Price Drivers
 Input Cost Drivers
 External Demand Drivers
 Recent Price Trend
 Price Forecast

Product Characteristics
 Product Life Cycle
 Total Cost of Ownership
 Product Specialization
 Related Goods
 Subsitute Goods
 Quality Control
Supply Chain & Vendors
 Supply Chain Dynamics
  Supply Chain Risk
  Geographic Locations
 Competitive Environment
  Market Share Concentration
  Vendor Company Types
 Market Profitability
 Switching Cost

Purchasing Process
 Buying Basics
 Buying Lead Time
  Selection Process
  Buying-Decision Scorecard
 Key RFP Elements

Negotiation Questions

Buyer Power Score Components

Jargon & Glossary

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