We need to focus on actively selling cyber insurance, says Munich Re’s Golling

During RVS 2025 in Monte Carlo, Stefan Golling, Member of the Board of Management at Munich Re, urged the re/insurance industry to step up efforts in actively selling cyber insurance and related services, particularly to clients who currently lack access.

Golling said, “In cyber insurance, I don’t want to call a competitor, a competitor. I would rather want to think about them as allies, allies in tackling this ever-evolving risk where we have to deliver products and risk transfer solutions that the market, that our clients, that their clients, that their customers, that simply our overall economy, society desperately needs.”

He highlighted how the cyber market has transformed from hardly anything 10 to 15 years ago to a $16 billion market now; however, more needs to be done in scaling it.

“But if we all together cannot develop the cyber insurance market to at least $30 billion by 2030, then maybe for the first time, we will not be proud, but rather disappointed when I present on cyber still in five years,” said Golling.

He stressed that the industry needs to focus on really actively selling cyber insurance and actively educating customers on all the threats they are facing.

“But also in what type of solution an insurance policy can bring, not only the financial kind of response by an insurance company, but also services that presumably can come with a policy. So helping the clients to understand their cyber exposure, helping to even mitigate it, to bring almost a risk management service to the clients, where you can help them continuously monitor threats, understand their vulnerabilities, and show them how they can protect themselves,” said Golling.