#63 - Tom Draper: Cyber Insurance
We’re joined this week by Tom Draper, Head of Insurance at Coalition. Jerad and our guest co-host Tom Spier (who also happens to be Supercede’s in-house cyber expert) discuss how companies in cyber markets can protect against heavy capital demands, responding to market cycles, and the benefits and disadvantages of AI. EPISODE LINKS: Tom's Linkedin: https://www.linkedin.com/in/thomas-draper Coalition's Linkedin Page: https://www.linkedin.com/company/coalitioninc Coalition Website: https://www.coalitioninc.com Luther: https://www.luther.co.uk CONNECT & SUPPORT: Website: https://www.supercede.com LinkedIn: https://www.linkedin.com/company/supercedehq Twitter: https://twitter.com/SupercedeHQ YouTube: https://www.youtube.com/channel/UCuzfykcesD0phGaCK7qB09Q RSS Feed: https://anchor.fm/s/7e741c8c/podcast/rss Say Hello: producer@thereinsurancepodcast.com OUTLINE & TIMESTAMPS: (00:00) Intro (00:40) Tom’s Early Career (02:19) Head of Insurance Explained (04:18) Product Evolution at Coalition (05:48) Protecting Against Capital Demands (10:05) Responding to Hardening Market Conditions (11:58) Issues With Cyber Cat Modelling (18:45) Sales Approaches for Cyber Security (20:50) Protecting People Globally (22:58) What’s Next for Coalition’s Expansion? (25:06) Proactively Preventing Exploits (28:41) Lloyd’s War Exclusion (36:19) Benefits & Limitations of AI & ChatGPT (44:14) What Will Happen In the Upcoming Renewals?