NIA has signed a Memorandum of Understanding with C3i Hub, IIT Kanpur, to facilitate industry-specific research in Cyber Security Risk and Insurance

Pune: National Insurance Academy (NIA), Pune, inaugurated its new Centre of Learning in Insurance and Cyber Security, marking a significant step towards strengthening expertise in the rapidly evolving landscape of cyber risk and insurance.

This pioneering initiative, launched in collaboration with the Indian Computer Emergency Response Team (CERT-In), New Delhi, aims to enhance research, innovation and skill development in Cyber Security Risk Management.

To further this commitment, a leading scientist from CERT-In has been nominated to provide technical guidance on ongoing and future projects.

NIA has signed a Memorandum of Understanding (MoU) with C3i Hub, IIT Kanpur, to facilitate industry-specific research in Cyber Security Risk and Insurance.

B. C Patnaik, Director NIA said, “The launch of this Centre of Learning reaffirms NIA’s commitment to pioneering research and education at the intersection of cyber security and insurance. With evolving cyber threats, the industry must stay ahead with robust risk mitigation strategies, and this initiative is a step in that direction. This initiative underscores NIA’s dedication to equipping the insurance industry with future-ready leaders and fostering a sustainable, resilient framework for cyber risk management.”

The inauguration event was graced by prominent dignitaries, including Rajay Kumar Sinha, Member (Finance & Investment),Insurance Regulatory and Development Authority of India (IRDAI); Sanjay Kedia, CEO, Marsh McLennan India; and Prof. Sandeep Shukla, C3i Hub, IIT Kanpur.

Their presence and insights enriched discussions on the evolving landscape of cyber risk underwriting.

Following the inauguration, Sinha, Kedia & Patnaik unveiled the research report on “Cyber Risk Underwriting.”

This comprehensive study provides valuable insights into the complexities of cyber risk assessment and its implications for the insurance industry. The event witnessed an enthusiastic gathering of CEOs, Chief Risk Officers (CROs), Chief Technology
Officers (CTOs), insurance brokers, Insurtech professionals, and risk management experts, reflecting the growing importance of cyber security in the insurance sector.