Cybersecurity Insurance Market Surges to $17.6 Billion by 2028 - Dominated by RedSeal (US) and SecurityScorecard (US)

Delray Beach, FL, June 24, 2025 (GLOBE NEWSWIRE) -- The Cybersecurity Insurance Market is projected to grow from USD 10.3 billion in 2023 to USD 17.6 billion by 2028, at a CAGR of 11.4% during the forecast period, according to new research report by MarketsandMarkets™

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Cybersecurity Insurance Market Dynamics:

Drivers

Surge in mandatory cybersecurity regulations and legislations to boost demand for insurance protection
High rate of recovery of financial losses to promote cybersecurity insurance market growth
Increase in frequency and sophistication of cyber threats

Restraints

Lack of awareness related to cybersecurity insurance and reluctance in choosing cybersecurity insurance over cybersecurity solutions
Soaring cybersecurity insurance costs

Opportunities

Exclusion of cybersecurity insurance cover from Property and Casualty (P&C) insurance
Adoption of artificial intelligence and blockchain technology for risk analytics

Top Cybersecurity Insurance Companies include

RedSeal (US)
SecurityScorecard (US)
BitSight (US)
Prevalent (US)
UpGuard (US)
Cyber Indemnity Solutions (Australia)
Cisco (US)
Microsoft (US)
Check Point (US)
AttackIQ (US) and many more…

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The leading providers of cybersecurity insurance include BitSight (US), RedSeal (US), SecurityScorecard (US), Cisco (US), UpGuard (US), Microsoft (US), Check Point (US), AttackIQ (US), SentinelOne (US), Broadcom (US), Accenture (Ireland), Cylance (US), Trellix (US), CyberArk (US), CYE (Israel), SecurIT360 (US), and Founder Shield (US). Allianz (Germany), AIG (US), Aon (UK), Arthur J. Gallagher & Co (US), Travelers Insurance (US), AXA XL (US), AXIS Capital (Bermuda), Beazley (UK), Chubb (Switzerland), CNA Financial (US), Fairfax Financial (Canada), Liberty Mutual (US), Lloyd's of London (UK), Lockton (US), Munich Re Group (Germany), and Sompo International (Bermuda) are the insurance providers covered in the cybersecurity insurance market. At-Bay (US), Cybernance (US), Coalition (US), Resilience (US), Kovrr (Israel), Sayata Labs (Israel), Zeguro (US), Ivanti (US), SafeBreach (US), and Cronus Cyber Technologies (Israel) are among the startup vendors covered by the cybersecurity insurance market. To increase their market share in the cybersecurity insurance sector, these companies have implemented a number of growth tactics, including alliances, corporate expansions, contracts, cooperation, and the introduction of new products.

RedSeal offers a cybersecurity analytics platform to enterprises and develops Security Risk Management (SRM) software for managing and preventing network breaches and failures. It analyzes businesses’ networks, creates an analytics model for monitoring the network’s performance, and provides a digital resilience score enabling users to benchmark and set targets for network security. It provides insights for identifying at-risk assets and corrective actions that must be taken. Clients, brokers, and insurers may test their network resilience and guarantee network security with the use of its Digital Resilience Score products. It serves a variety of sectors, such as banking, insurance, healthcare, utilities, and governments. Global 2000 businesses and government organizations, including the US Federal Agency (DoD), the civilian sector, and the intelligence community, are among Red Seal's clients. It has a presence in North America, Europe, and Asia and provides services to other areas like finance, healthcare, retail, and technology.

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SecurityScorecard is a cloud-based provider of risk scorecards and an information security company that rates the security postures of corporate entities. The product offers real-time threat intelligence and risk awareness by automated real-time monitoring of all risk factors. The product's features include the status of security levels of every organization and data sharing. Its comprehensive solution range includes enterprise cyber risks, third-party risks, executive-level reporting, cybersecurity insurance, due diligence, and compliance. Financial services, insurance, healthcare, government, retail, and ITeS are the major verticals that SecurityScorecard serves. It also offers monitoring signals of the company, partner networks, categories, and assesses signals at malware events, uses a real-time query to get a collective scorecard of any domain using a search engine. SecurityScorecard’s patented technology is used by organizations to assess their cybersecurity risks, insurance underwriting, and third-party risk management.

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