’As the industry faces an expanding array of cyber threats, it’s crucial for insurers to adopt a holistic approach to risk management,’ says director

Cyber risk management firm Intersys has opened a new office in London’s Leadenhall Market.

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The site forms part of the business’ expansion plans in the UK insurance market and will serve as a hub for it to continue delivering its services.

Among its services include supporting the insurance sector mitigate cyber risk. Former Genasys chief revenue officer Bart Patrick is also part of the team in a sales and marketing role.

Catherine Geyman, director of enterprise risk management at Intersys, said: “With technology rapidly transforming the industry, it’s essential to have partners who understand where you’re starting from and where you’re headed. We look forward to expanding our support for the insurance sector with the opening of our new London hub.

”As the industry faces an expanding array of cyber threats, it’s crucial for insurers to adopt a holistic approach to risk management. By integrating cyber risk into broader enterprise risk strategies, we help our clients not only protect their operations but also build the resilience needed to navigate emerging challenges.”

Attacks

The expansion comes after the UK government’s Cyber Security Breaches Survey 2024 found that half of businesses experienced a cyber attack or breach in the past year.

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The average was higher for large businesses (74%) and medium sized business (70%). Phishing was found to be the most common threat, with 84% of companies suffering this form of attack.

Some 2,000 UK businesses, 1,004 registered charities and 430 education institutions were surveyed between September 2023 and January 2024.

Matthew Geyman, managing director at Intersys, said: “Insurers understand risk better than most, yet they themselves are prime targets for cyber attacks. The alarming statistic that 50% of UK businesses have suffered breaches underscores the urgent need for proactive risk management in the cyber domain.

”We’re not just another tech company, we’re a trusted partner with a deep understanding of the insurance industry’s unique challenges.”

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