POLICY - May 2019

POL I CY The Israeli Insurance , Pension&FinanceNewspaper 10 Tel Aviv Re 2019 Munich Re c o mm i t t e d itself to be a major player and know- how leader in the field of Cyber i n s u r a n c e . This segment witnessed a 30% growth in 2018 and shows a globalGWPofUSD5.3bn.Currently, Munich Re’s market share of about 10% maintains its global leadership, while investing into and staffing up with dedicated Cyber departments and Cyber risk experts with proven track record in relevant industry sectors. In numbers: 120 dedicated Underwriters and more than 20 Cyber risk experts, which enables the reinsurance giant to provide best in class risk assessments. Besides building-up in-house expertise, Munich Re partners with leading specialists to provide innovative Cyber insurance products to the market. In this context, Munich Re is working with Team8, a leading Israeli think tank and company creation platform. The company, with headquarters in Tel Aviv and New York, builds start- ups specializing in Cyber resilience and data science. Nadav Zafrir, co- founder and CEO of Team8, states: “When we started our journey into the insurance space, we were very impressed with Munich Re’s unique grasp of Cyber risk, and its readiness to embrace innovation.” Torsten Jeworrek, Member of the Board of Management at Munich Re, sees the investment in and partneringwithTeam8 as amilestone in setting up an ecosystem covering all aspects of Cyber security.  “Our Cyber risk solutions go well beyond mere insurance. We pay particular attention to loss prevention, and that makes the Cyber-security and data-intelligence expertise of Team8 and its partners so important.” This partnership outlines Munich Re’s capabilities to provide services beyond RI-capacity . Munich Re enhances Cyber Know-How to address the changing Cyber risk landscape By Christian Hilbich, Client Manager and Rupert Wimmer, Cyber Security Expert, Munich Re Christian Hilbich Jonathan Marcus Translations Hebrew-English-Hebrew translation of Insurance and financial documents Insurance policies ▪ Appraisals and loss adjusters reports Proposalss ▪ Financial statements 25 years of professional experience in the insurance sector Phone: 972-54-4757622 ▪ Fax: 972-2-5616099 ▪ E-mail: jmtargum@gmail.com