News > Insurance industry grapples with rising cyber crime threat: PwC

Insurance industry grapples with rising cyber crime threat: PwC

The insurance industry faces its foremost challenge in the form of cyber crime. This threat encompasses the potential theft of sensitive data, phishing, and ransomware attacks. Cyber crime has held its top position as the most significant global risk since the 2021 report. Insurers are navigating an increasingly intricate digital landscape characterised by new technologies, cloud computing, and extended supply chains. This complexity amplifies their vulnerability to cyber threats.