Pandamatics Underwriting

Pandamatics Underwriting is honoured to have had our Co-founder and Managing Director, Struan Todd, represent us as a panelist at the 2024 Lloyd's #HongKong Meet the Market event, held on April 18th. A heartfelt thank you goes out to all the distinguished speakers for their invaluable insights on crucial topics such as ESG, crypto industry trends, MGA perspectives, in addition to our segment on cyber incident response and cyber insurance. We appreciate everyone's support and eagerly look forward to reconnecting next year for another enriching experience. Get in touch with us to learn more about #cyberinsurance and #incidentresponse: https://lnkd.in/dVR8c3-Q Timothee Grange | Moying Chap | Eve Yeung | Joshua Lynch

In light of the insights from The State of AI and Security Survey Report, it's evident that #AI integration is rapidly becoming a cornerstone of organisational strategies, with 55% of businesses poised to incorporate AI solutions within the next year. This drive is fuelled by executive leadership's astute recognition of AI's benefits. While 67% are already experimenting with AI for security, concerns about its implications highlight the need for ethical development and robust frameworks. As the landscape evolves, 2024 is poised to witness a surge in AI implementation within #cybersecurity practices. Organisations are actively exploring diverse use cases to fortify their defences against the ever-evolving cyber threats. In this dynamic environment, #CyberInsurance emerges as a crucial safeguard, offering financial protection and strategic support in the face of cyber risks. Full article: https://hubs.li/Q02xbNVL0 For more insights on how cyber insurance can fortify your organisation's resilience against emerging cyber threats, explore our comprehensive guide here: https://hubs.li/Q02xbM9S0

Singtel Global Services Cyber Security Institute (CSI), Singapore Institute of Management Academy (SIM), and UOB have joined forces to develop the "Defence Against Cyber Scams" programme. This initiative not only aims to upskill and reskill UOB's frontline branch staff but also highlights the importance of #CyberInsurance in mitigating risks associated with cyber scams. The programme includes interactive workshops, tabletop exercises, and assessments covering scam prevention, identification, and mitigation strategies. With participants receiving subsidies of up to 90% of the course fees from SkillsFuture Singapore (SSG), the programme offers a cost-effective means of enhancing #CyberResilience. Furthermore, the incorporation of SIM's sense-making approach and UOB's SPOT framework in the inaugural run underscores the commitment to bolstering scam detection and response capabilities. This collaboration not only strengthens #Cybersecurity but also complements government efforts to combat scams. https://hubs.ly/Q02w6Rb00 Explore how cyber insurance can further fortify your organisation against cyber threats: https://hubs.ly/Q02w6HlS0

ExtraHop's Global Cyber Confidence Index reveals a concerning gap between perceived and actual cyber preparedness, particularly in #Singapore where #Ransomware remains a top threat. Many organisations still rely on vulnerable network protocols, leading to significant financial losses averaging $3.3 million per organisation. To address this, organisations are turning to AI, machine learning, and zero-trust strategies. https://hubs.li/Q02vQRV50 #CyberInsurance offers a vital safety net in mitigating financial risks and enhancing resilience. Act now to strengthen your #Cybersecurity and protect your business. Learn more about cyber insurance: https://hubs.li/Q02vQD_D0

#HongKong has experienced a notable surge in online crimes and hacking incidents, with #CyberAttack cases increasing by over 50% in 2023 compared to the previous year. Major institutions like Cyberport Hong Kong and the Consumer Council have been among the victims. To combat this trend, law enforcement emphasises the importance of educating employees about #Cybersecurity risks, including #Phishing emails and #Malware attacks, and implementing regular #DataBackups. With the passage of national security legislation, authorities vow to continue monitoring online threats and protecting critical infrastructure. The new law provides additional legal tools to address cyber issues effectively. Read the full news article here: https://hubs.li/Q02vQD_y0 Learn more about building a comprehensive cyber risk management strategy here: https://hubs.li/Q02vQKhK0

The Cyber Security Agency of Singapore (CSA) released its first #Singapore Cybersecurity Health Report, revealing that while local organisations have adopted around 70% of essential #Cybersecurity measures on average, full adoption is needed to avoid unnecessary #CyberRisks. Challenges include lack of knowledge/experience and resource constraints. Despite awareness of cyber security standards, only one in three organisations has fully implemented key measures. To support organisations, CSA offers initiatives like free cybersecurity resources, Cybersecurity Health Plans, and certifications. CSA urges organisations to prioritise cybersecurity and utilise available support to enhance their cyber resilience. https://lnkd.in/gdrWgaaU Minimise the impact of cyber incidents on your business. Discover the benefits of cyber insurance with us: https://lnkd.in/dVR8c3-Q

Pandamatics Underwriting is thrilled to announce that our Co-founder and Managing Director, Struan Todd, has been awarded the prestigious Young Underwriter Award by Insurance Insider! 🏆 This recognition is a testament to the exceptional talent, dedication, and leadership that Struan brings to our team at Pandamatics Underwriting. It's a moment of immense pride for our entire organisation. His commitment to excellence, innovative thinking, and unwavering dedication to our clients have not only earned him this award but also made a significant impact on the #underwriting landscape. https://lnkd.in/gZ8invzC #YoungUnderwriterAward #InsuranceExcellence

Last call to sign up for tomorrow's webinar "Digital Transformation in Insurance Underwriting" hosted by The Chartered Insurance Institute Hong Kong, from 2:00 PM - 3:00 PM. In this webinar, Pandamatics Underwriting's Co-Founder and Managing Director, Struan Todd, will be sharing his perspective on #DigitalTransformation and #Innovation in #Insurance #Underwriting. Sign up for the webinar here: https://lnkd.in/gnH4Emhy