IIG News

IIG Insights Munich Re: The digital future is now – How to navigate the Cyber Risk landscape?

On the 20th of October, Wolfgang Boffo Business Development and Underwriting Manager for Cyber Risk in Munich Re of Africa presented the topic, The digital future is now – How to navigate the Cyber Risk landscape?


Thabo Twalo IID Deputy President welcomed Wolfgang on the virtual platform ad reminded colleagues of Cyber Awareness month and the importance of noting related themes in the insurance industry. The informative yet fast-paced session was engaging and most enlightening.  


Wolfgang Boffo is the Business Development and Underwriting Manager for Cyber Risks in Southern Africa. He has been with Munich Re for more than 13 years, always in positions to provide adequate risk transfer solutions for new types of risk. Prior to joining Munich Re, he started his professional career as a Risk Management Consultant with Cap Gemini Ernst & Young in 2000 and then co-founded his own consulting firm for Operational Risk Management within the financial services industry. Throughout his professional career, Cyber Risks have always been a hot topic despite not even being called ‘Cyber Risks’ back then.


While global digital connectedness promises amazing things, the threat of Cyber Risks, especially Cyber Crime, can make it feel like you are charging forward without a guide. But you’re not. Munich Re – again awarded Cyber Reinsurer of the Year – offers the products and services businesses need to sidestep risks, nimbly respond when breaches occur and get back on track after time and money are lost to Cyber Risk incidents. The digital future is now, and Munich Re will help you navigate it. The presentation will provide a global perspective and frequently reflect this perspective to the South African market environment.


The agenda covered the below topics:  


  • What are Cyber Risks?
  • Are trends our friends?
  • How big are the market potentials?
  • Why Cyber Risks must be insured! 
  • Who should consider Cyber Risk insurance?
  • What are the lessons learnt?


This insights session was proudly sponsored by: