Cyberwrite has partnered with Samsung Fire & Marine Insurance (SFMI) to strengthen the insurer’s cyber insurance capabilities. Following a comprehensive global evaluation by Samsung Financial C-Lab Outside, Cyberwrite was selected for its expertise in next-generation cyber catastrophe modeling, AI-driven real-time cyber underwriting analytics, and broker enablement abilities.
The collaboration will focus on strengthening SFMI’s ability to assess the probability and economic impact of cyber attacks across its portfolio and manage catastrophic risk. By 2030, the global cyber insurance market is projected to experience substantial growth, rising from approximately $16 billion in annual premiums in 2025 to over $40 billion to 50 billion by the end of the decade. This surge is driven by escalating cyber threats and the increasing financial impact of cyber incidents on organizations worldwide. Concurrently, cybercrime is anticipated to impose significant economic burdens, with global damages expected to reach approximately $10.5 trillion annually by 2030.
“We chose Cyberwrite because it empowers both our sales and underwriting teams with on-demand, real-time intelligence and actionable risk insights that drive smarter decisions and faster responses,” said Dongjoo Lee, Casualty & Specialty Underwriting Team Lead at SFMI.
Cyberwrite’s solution is powered by its proprietary, patented AI-driven predictive algorithms, designed to predict and quantify how cyber incidents impact organizations of all sizes from SMBs to conglomerates. Since 2017, its platform has become a global benchmark for insurers, delivering accurate, scalable insights into cyber exposure and portfolio risk management in over 50 countries.
This collaboration marks an important step in advancing SFMI’s cyber insurance capabilities. SFMI is a globally recognized insurance leader serving millions of customers and businesses worldwide. The biggest property and casualty insurer in South Korea, with a worldwide network of some 20 offices in 11 countries, is expanding its offerings to meet the growing need for effective cyber risk management solutions and cyber insurance.
“SFMI’s decision to engage with Cyberwrite demonstrates that our platform has set a new bar for underwriters, risk managers, and clients who need real-time clarity on emerging cyber threats,” said Nir Perry, CEO of Cyberwrite. “Our cyber underwriting AI abilities and next-gen catastrophe modeling platform are already used in over 50 countries and eight languages worldwide and can provide data on over 320 million businesses worldwide in real-time. We are honored to support Samsung’s cyber insurance initiatives with the highest technology innovation and service standards.”
Cyberwrite continues to support insurers, brokers, and reinsurers worldwide in addressing the rising challenge of cyber risk with data-driven transparency, precision, and scalability.
Samsung will present the Cyberwrite solution at Korea International Insurance Conference held from June 4-5, 2025. Cyberwrite CEO Nir Perry will be speaking on the topic of cyber risk quantification at ITC Asia in Singapore on June 4, 2025.
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream formerly known as CIO News LinkedIn Account | The Mainstream formerly known as CIO News Facebook | The Mainstream formerly known as CIO News Youtube | The Mainstream formerly known as CIO News Twitter |The Mainstream formerly known as CIO News Whatsapp Channel | The Mainstream formerly known as CIO News Instagram
About us:
The Mainstream formerly known as CIO News is a premier platform dedicated to delivering latest news, updates, and insights from the tech industry. With its strong foundation of intellectual property and thought leadership, the platform is well-positioned to stay ahead of the curve and lead conversations about how technology shapes our world. From its early days as CIO News to its rebranding as The Mainstream on November 28, 2024, it has been expanding its global reach, targeting key markets in the Middle East & Africa, ASEAN, the USA, and the UK. The Mainstream is a vision to put technology at the center of every conversation, inspiring professionals and organizations to embrace the future of tech.
