Cybersecurity The Most Worrisome In Business In ‘Age Of Risk’
CYBERSECURITY – Cybersecurity is now considered the most worrisome for business facing a new age of risk, a global services firm says.
This topped over the coronavirus pandemic and climate change due to the fact that cybercrime is so pervasive. This came from Chief Executive Dan Glaser, the head of Marsh & McLennan Companies Inc, an insurance broker and consulting firm, according to ABS-CBN News.
“For most large multinational companies, cyber may not have been their largest exposure pre-COVID, but it’s certainly their biggest exposure now,”
“Think about the ability to service clients if, for example, the system went down.”
It is also difficult for companies to conclusively deal with cyber risk, the firm added.
“CEOs like to get things done and say it’s finished,”
“Cyber is a never-ending phenomenon. It will continue for the rest of all of our careers.”
The firms also cited climate change and the culture of remote working as the other top risks, Glaser said, adding that climate is less immediate than cybersecurity since it is developing slowly and its impact, via such catastrophic events will increase over the next five years or more.
Based on the report, another top risk are cultural shifts caused by technology. Glaser said that digital capabilities are “table stakes” for insurers to grow, be efficient and “delight” customers. However, robotics, remote working and artificial intelligence are going to cause a dramatic impact on the workplace and on culture.
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