This podcast takes a slightly different format as we host a panel session as David joins Peter Armstrong, Cyber-insurance expert at Munich RE and Duncan Jones, Senior Product Manager at Pelion. 

Peter provides a fresh perspective into the industry and how insurance companies model the risk of the IoT. We discuss where the liability lies and Peter describes how companies can build trust into their products and drive adoption of the IoT at scale with surety, confidence and the backing of insurers.

[1:05] introductions to the panellists

[2:39] An insurers view on digital transformation, and how new hyperconnected devices are impacting the insurance world

[4:25] The evolving portfolio of risk and supply chain responsibility

[5:25] Understanding liability across the value chains involved in delivering IoT services

[6:05] The importance of the Root of Trust in enabling the trusted deployment of technologies

[6:30] The opportunity for insurers from digital transformation

[7:35] Broadening the thinking about IoT products to data and services

[8:40] Digital transformation across industries - a mass deployment of devices beyond the traditional IoT model

[9:30] New technologies driving digital transformation - An individual product has to be trusted.

[11:25] Customer challenges, building business applications high up the stack

[12:01] With scale of the IOT, we can't scale the expertise to secure these solutions

[12:26] Realizing the true potential of the IoT

[13:30] An overview of the insurance market, the role of capital availability and trust

[14:55] Confidence in the 'worst case scenario' and the challenges this brings for cyber-risk

[16:42] The importance of surety and confidence in the embedded processes and devices

[17:24] The role of the Root of Trust in modeling quantified risk, minimizing the front-end variables with sufficient transparency

[18:30] Challenges that come with scaling the IoT

[19:37] Building trust in data to base business decisions upon

[20:03] Regulation and standardization: a help or a hinderance?

[22:00] The responsibility from chip to OEMs to show compliance locally but ship globally

[24:15] The need for a framework and infrastructure for a black and white view of responsibility

[24:35] The geographic challenges for insuring the IoT

[26:00] Responding to nuance and guidance over mandated views

[26:29] The technology industry needs to lead and embrace the requirement for compliance in this evolving environment.

[27:00] Final pieces of advice from the panellists to embrace digital transformation with surety and confidence.

Useful Links:

Explore this topic further in our blog <https://www.psacertified.org/blog/can-we-insure-billions-connected-devices/>

Learn more about Munich RE: https://www.munichre.com/en.html

Learn more about Pelion https://pelion.com

Learn more about PSA Certified www.psacertified.org