Let’s Talk About the Severe Talent Shortage in the Cyber Insurance Industry.

Businesses today are waking up to the importance of adequate protection against cybercrime and have begun to invest heavily iron-cladding their digital infrastructures. Accordingly, the cyber insurance market is expected to grow at an astounding Compound Annual Growth Rate of 25.30% between 2022 and 2028. However, such rapid growth is set to open the floodgates on an already-problematic talent shortage in its workforce.

A lack of trained professionals with knowledge and understanding of cyber security, coupled with a decreasing insurance workforce, makes recruiting into the cyber insurance industry challenging. As the cyber insurance sector acknowledges and acts upon the potential crisis at hand, now is the time to invest in education to close the lid on the dearth of technically-trained, technology-savvy workers needed in what has historically been a fiercely conservative insurance industry.