Invisible Tech. Real Impact. - An Industry View
As digital increasingly becomes the primary interface between brands and their customers, cybersecurity which was traditionally seen as a cost of doing business, will increasingly become central to their proposition and their brand experience. Technology as a sector forms the lion’s share of the top Best Global Brands. While the value at risk ranges between 9 and 12%, it is the highest, across industries.
Traditional bank brands handling large amounts of customers’ wealth might see up to 16-17% of their brand value at risk. For insurance brands, this value at risk is 11-12%. This reflects the risk that customers could face in the event of an insurance claim. The risk to a traditional auto brand might primarily be the bad press and the dent in its reputation. They may only lose 8-9% of their brand value in the event of a breach. A large part of the risks to luxury brands comes from reputational risk as well as the risk of “spoofing” where fake URLs are used to cheat customers.