LONDON, 18 March 2025 – Leading figures from across the insurance and cyber security sector have issued a unified call to action for insurers to strengthen their cyber resilience in response to the rapidly evolving threat landscape.
Intersys, a leading provider of cyber security and IT solutions for the insurance sector brought together senior cyber security, underwriting, and risk management professionals to address pressing challenges facing the sector. The panel included:
- David Clamp, Founder, The Camelot Network
- Lisa Rowe, Senior Underwriter — Financial Lines, Cyber, Specialty MGA UK
- Aarti Ajay, IT Audit Manager, We Are Just
- Douglas Robare, Venture Partner — Neo Ventures
- Robin Muir, Head of Contingent Risks, Devonshire Underwriting
- Mark Kirby, Professional Services Director, Intersys
- Jake Ives, Head of Security, Intersys
- Tim King, Business Development Lead, Intersys
At a high-level roundtable hosted by cyber security specialists Intersys, industry leaders warned that insurers must move beyond reactive approaches and implement more robust, proactive risk management strategies to counter growing cyber threats:
- Ransomware Attacks – 60% of businesses affected by ransomware shut down within three years.
- Outdated Systems – GCHQ warns that many in the insurance sector still use outdated Windows systems, increasing vulnerability.
- MFA Limitations – Multi-Factor Authentication (MFA) is not foolproof, as cyber criminals are stealing access tokens to bypass it.
- Quishing (QR Code Phishing) – A rapidly growing attack vector, increasing from 0.8% of phishing attempts in 2022 to 12.4% in 2024.
- Evolving Cyber criminal Tactics – Attackers continuously adapt, requiring insurers to stay ahead with proactive measures.
- Lack of Industry Collaboration – A fragmented approach to cyber risk leaves insurers vulnerable, calling for greater cross-sector cooperation.
Urgent need for industry-wide action
Tim King, Business Development Lead, Intersys, said: “Threat actors only need to succeed once, whereas businesses must remain vigilant at all times. The risk-reward balance has shifted, making cyber crime an attractive option for criminals, with the likelihood of getting locked up for armed robbery higher than being arrested for cyber crime. The industry must prioritise proactive security measures to mitigate this risk as rather worryingly, GCHQ says significant numbers in the insurance sector use out-of-date Windows.”
Jake Ives, Head of Security, Intersys, said: “MFA is a strong starting point, but it isn’t foolproof. Cyber criminals are becoming increasingly sophisticated, stealing access tokens and bypassing security protocols. The insurance sector needs to continuously adapt to these threats.”
Douglas Robare, Venture Partner — Neo Ventures, said: “At the event I was introduced to the term Quishing - QR code phishing — which is rapidly rising from 0.8% of phishing attempts in 2022 to 12.4% in 2024. It’s a reminder that while we’re used to spotting phishing emails and texts, fake QR codes are now a real threat. The event was an excellent opportunity to discuss key cyber security challenges, particularly around data management, legacy systems, and the growing risks as AI tools become more prevalent in the insurance industry.”
Aarti Ajay, IT Audit Manager, We Are Just said: “There are so many challenges to overcome, and the discussion nailed some interesting topics and areas of focus for security professionals.”
David Clamp, Founder, The Camelot Network, said: “There were lots of insights on the theory and practical application of how to protect against the evolving cyber threat landscape, right in the heart of the London Market.”
Lisa Rowe, Senior Underwriter — Financial Lines, Cyber, Specialty MGA UK, said: “The Cyber Roundtable hosted by Intersys was a great opportunity to connect and share insights. Intersys’ deep expertise in cyber security made the collaboration enriching, and I truly valued the chance to meet with my fellow professionals.”
Robin Muir, Head of Contingent Risks, Devonshire Underwriting, said: “Cyber security must be embedded in the DNA of every insurance business — from MGAs to insurers and brokers. As the industry becomes increasingly interconnected through data feeds and APIs, the risk landscape is evolving at an unprecedented pace. Proactive, robust cyber measures are critical to protecting sensitive data and maintaining operational resilience. The insurance sector must stay ahead of emerging threats by fostering continuous dialogue and collaboration with cyber security experts, ensuring that best practices evolve alongside the risks we face.”Mark Kirby, Professional Services Director, Intersys said: “Our goal is to bring together IT security experts, risk managers, underwriters, and auditors to foster knowledge-sharing and innovative problem-solving in the face of emerging cyber threats.”
Notes to Editors
About Intersys
Intersys is a leading global provider of cyber risk management solutions, dedicated to helping organisations of all sizes assess, manage, and mitigate cyber risk. With a team of experienced cyber risk experts and a comprehensive suite of services, Intersys empowers clients to protect their critical assets and maintain business continuity in the face of evolving cyber threats.
For further details on Intersys and future roundtable events, visit: https://intersys.co.uk/events/
Media Enquiries
Helen Wright
Lysander PR
helen@lysanderpr.com
+44 7842 729 579
Michelle Worvell
Lysander PR
Michelle@lysanderpr.com
+44 7810 531 035