Did you know that in 2023 there were over 3,000 publicly reported data compromises, impacting over 350 million people? According to the Identify Theft Resource Center, that’s an almost 75% increase over the year before.
And cyber-attacks aren’t just increasing in frequency. They’re increasing in cost too. IBM reports that the average cost of a data breach has reached almost $5 million, and the vast majority of those companies report that the data breach caused significant or very significant disruptions.
Your client’s future is in their own hands. But as a commercial broker or MGA, you are in a unique position. With the right tools in place, you can empower your client’s cyber experience.
What should that look like? Your clients need:
- Education to better understand the risks they may be facing and how to properly train their teams to be their first line of defense
- Data so they can better understand the market and get direct insights how their peers are protecting their own businesses
- Coverage so that if a cyber incident does occur, they’re protected
And Zywave is here to help you on all three fronts. Wondering how? Let’s get into it.
Impactful Cyber Education
The first step to augmenting your client’s cyber experience comes with education. At Zywave, we’re committed to not only helping educate our clients – but their clients as well.
As a commercial broker, you’re in the position to serve as an industry expert for your clients. But to do so, you need to be in the know. That’s where Front Page News and our series of cyber-focused Thought Leadership Events come in.
The in-house editors for Front Page News will keep you updated on everything happening in the cyber market on a bi-weekly basis. From the newest trends in cyber, the latest data breach and privacy news, plus insights into industry innovations, relevant legislation and ongoing litigation, the Front Page News – Cyber Edition has it all.
If you’d prefer to learn straight from thought leaders, check out our lineup of cyber-focused Thought Leadership Events. These events bring together the top cyber leaders for in person learning, networking discussions and workshops. The 2025 lineup includes:
- Cyber Risk Awards
- Cyber Risk Insights London Conference
- Cyber Risk Insights New York Conference
While your education is important, you can’t be the only source of knowledge for your clients. Empowering your clients means offering the tools for them to educate themselves on all things cyber. And that’s easy with Content Cloud and Client Cloud.
If your producers are currently the ones building the content that you need to educate your clients on major cyber topics, consider that a thing of the past. Think of how much time that will save – especially since the average producer spends almost 30 hours per month creating content!
Content Cloud provides all the tools and resources you need to educate your clients, all written by our expert team of experienced industry attorneys. These resources, which can be branded to your organization, can be sent directly to your client proactively via marketing campaigns, or from the app to answer specific, topical questions. Plus, built-in social media tools allow you to build your reputation in the industry as a thought leader – all without having to create any cyber content yourself!
But your client’s cyber defense can’t just rely on their C-suite, insurance buyers and IT teams being in the know. They need understanding buy-in from every single employee. And that requires training on cyber security and risk management best practices. Client Cloud’s Learning Management System (LMS) simplifies that training process. With an extensive course catalog, you can offer the LMS to your clients as a one-stop-shop for all their cyber training needs.
Powerful Industry Insights
So, your clients are educated on what’s happening in cyber. Now what?
Understanding the cyber market doesn’t quite mean that your clients understand the risks that are unique to their organization. Loss Insight and Cyber OverVue provide in-depth data insights into historical cyber losses and give your client a better view into their cyber risk profile.
With these datasets, you can offer your clients high-level insights and guidance on limit adequacy, along with traditional benchmarking analyses that provide a comparison to their peers. Plus, you’ll be able to help identify existing gaps in their cyber coverage, before diving into their renewals.
The Right Cyber Coverage
You’ve provided education. And in-depth cyber insights. The final piece of the puzzle is coverage. But cyber insurance isn’t one-size-fits-all. So, how do you ensure that you’re not only quoting the right plan for your clients, but also the right limits? That’s where Cyber Quoting comes in.
Cyber Quoting is a unique solution that combines the power of embedded data insights with a powerful quoting platform. Unlike other quoting tools available on the market, Cyber Quoting will enable you to present coverage options along with benchmarked industry insights so you can easily identify and present the right coverage, the right limits, and at the right price for your client’s organization.
Why does that matter? According to Denise Perlman, President of National Business Insurnace at Mash McLennan Agency,
“Customers expect more personalization, customization, and transparency to their specific industry. They want to know what specific risks are to that industry and how the risks pertain to them. They want benchmarking specific to their industry.”
And if you think using a quoting solution is going to require hours of manual data entry for every single potential insurer, think again! Cyber Quoting simplifies the quoting process allowing you to spend more time consulting and less time entering duplicate data. Powered by a simplified and streamlined submission questionnaire, you only need to enter data in-app once to get bindable quotes from multiple insurers at a time.
Learn More
The road to a better cyber experience for your clients starts with you. And when you’re ready to get started, we’re here to help. To learn more about Zywave’s cyber solutions, or to connect with a Zywave expert, click here.
