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In 2020, Deloitte reported on The four trends that define insurance and showed that the future of the insurance marketplace is going to be significantly different. Life and Property and Casualty insurers, for example, estimated that 93% of their volume already came from propositions that were not offered five years ago. New propositions were expected to keep on rising, with nearly a quarter of investment spend in insurance allocated to new product development.

It’s been noted that there are two types of organizations – those that have suffered a data breach, and those that will fall victim to a data breach sooner than later (most likely sooner). The hard truth of this statement is reflected in the fact that according to some sources 97% of networks will experience a security compromise over any given six-month period. And with a staggering 9.7 billion data records having been breached since 2013, these numbers are only rising.