Tata AIG Launches CyberEdge: A Comprehensive Cyber Insurance Solution
| Aspect | Details |
|---|---|
| Initiative | Tata AIG launches CyberEdge, a cyber insurance solution for Indian businesses. |
| Objective | Capture 25% of the cyber insurance market by 2029. |
| Key Features | - 24/7 First Response Cover: Access to experts within two hours of an incident. |
| - Comprehensive Coverage: Forensic investigations, legal fees, data recovery, etc. | |
| - SME Focus: Tailored for small and medium enterprises lacking robust cybersecurity. | |
| Market Context | - Indian cyber insurance market valued at ₹850 crore in 2024. |
| - Projected 25% CAGR growth from 2025 to 2030. | |
| - India recorded 79 million cyber incidents in 2023, expected to reach 1 trillion by 2033. | |
| Regulatory Landscape | - IRDAI 2022 Guidelines: Emphasis on coverage for identity theft, online fraud, and data breaches. |
| Strategic Positioning | - Targets IT firms, BPOs, banks, and businesses needing robust cyber protection. |