Performance Improvement in the Private Sector
KPMG supports leading insurer Beazley plc to help it achieve remarkable business growth and technological transformation in a fast-evolving market.
The cyber insurance market is booming, forecast to triple in size to US$40 bn in gross written premiums by 2030. Already a major player, Beazley sought KPMG’s expertise to strengthen its leadership position and capitalise on emerging opportunities.
Beazley has successfully grown its cyber business by 57% from ~US$0.8bn in 2021 to ~US$1.2bn in 2024, with KPMG providing support throughout this period, while simultaneously creating new digital foundations for sustainable growth.
Paul Bantick, Global Chief Underwriting Officer at Beazley plc, praised the partnership with KPMG: “Beazley has successfully developed a strong cyber ecosystem, which provides comprehensive support to clients before, during and after a cyber-attack. KPMG has worked collaboratively with us, providing insight to help us focus on key priorities, providing expertise to help us deliver our growth ambition, and becoming a trusted partner on our ongoing journey.”
The results speak for themselves: Beazley has achieved a 57% growth in cyber business, deployed multiple state-of-the-art digital applications, and implemented 15 new AI use cases in record time. KPMG has helped Beazley not just respond to the exponential growth in cyber risk, but position itself at the forefront of this critical market for years to come.
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