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Uncertainty in the cybersecurity space, driven by the rise of remote work and digital trends following the COVID-19 pandemic, catalyzed a revolution in risk management for both enterprises and cyber insurance providers. With a 50% increase in ransomware attacks in 2020 and more than double the number of incidents in the following year, the cyber insurance market was disrupted by the frequency and severity of cyber claims, resulting in unprofitable results for the broader cyber insurance market. Insurers incentivized enterprises to adopt robust cybersecurity defenses and advanced security protocols, such as zero-trust architecture (ZTA), endpoint detection and response (EDR), and multi-factor authentication (MFA). Organizations had to…