Although many cybersecurity companies exist, none have an overview of the market in general, meaning cyber threats are expected to gain more traction and have greater impact, according to Onalytica, Sipros Margaris. He added that although greater cyber risk presents an opportunity for bigger companies to edge out competition by expanding their coverage against cyber threats, while start-ups can thrive by developing a widely needed specialism. Until market consolidation improves cybersecurity, innovation in fintech verticals such as insurtech will be limited by companies' need to protect customers.
Although many cybersecurity companies exist, none have an overview of the market in general, meaning cyber threats are expected to gain more traction and have greater impact, according to Venture Capitalist and Founder of Margaris Advisory, Sipros Margaris. He added that although greater cyber risk presents an opportunity for bigger companies to edge out competition by expanding their coverage against cyber threats, while start-ups can thrive by developing a widely needed specialism. Until market consolidation improves cybersecurity, innovation in fintech verticals such as insurtech will be limited by companies' need to protect customers.