WTW has launched a dedicated technology industry practice in Australia and New Zealand, aimed at addressing the unique risk challenges facing the region’s technology sector.
The initiative is part of a larger strategy to expand WTW’s offerings for tech, fintech, and digital asset businesses.
Ben Di Marco, an expert in cyber and technology risk, will lead the practice.
The newly established team, made up of nine specialists, is tasked with helping technology companies manage evolving risks, both within Australia and New Zealand.
The group will focus on tailoring risk management and insurance programs to the specific needs of technology firms, with an emphasis on addressing growing concerns around cybersecurity, privacy, and regulatory compliance.
Di Marco said the company has established its new practice as the technology sector continues to face a rapidly changing landscape, with increasing regulatory pressures and new challenges tied to cybersecurity and data privacy.
“The technology industry is amongst the fastest moving and most dynamic sectors in the economy. This places technology organisations at the forefront of emerging regulatory and stakeholder challenges,” he said.
A recent report from New Zealand-based email security firm SMX uncovered significant gaps in the enforcement of the Domain-based Message Authentication, Reporting, and Conformance (DMARC) protocol across public and private organisations in Australia and New Zealand. DMARC is a key tool in defending against email-based cyber threats, such as phishing and spoofing attacks.
Another report found that APAC firms are reconsidering their cybersecurity strategies in light of rising concerns about emerging threats and a disconnect between security teams and company leadership.
Di Marco said companies must consider risks around technology supply chains, cyber resilience, and corporate governance, especially as new legal reforms and AI risks take shape in Australia.
Di Marco said the new practice aims to support technology organisations by delivering customised risk solutions.
“Technology organisations deserve to be supported by insurance and advisory experts who understand their challenges and can deliver responsive and fit-for-purposes outcomes,” he said.
James Baum, head of WTW’s Australia and New Zealand operations, stated that formalising the technology industry practice allows the company to offer more specialised services.
“Formalising our technology industry practice will allow WTW to enhance our client proposition, protecting technology companies based on their individual risk profiles and needs through our product specialisation, data, analytics, broking, claims advocacy, service, risk control, technology, and innovation, to provide a tailored risk management approach to businesses,” he said.
In addition to the technology practice, WTW has also introduced a fintech and digital assets taskforce aimed at supporting clients in navigating the complex risks surrounding financial technology and the digital asset ecosystem.
The taskforce, which will operate globally, is co-led by Anthony Rapa in North America and Trenton McNee in the UK.
The taskforce will focus on developing customised insurance products for fintech companies, addressing risks such as AI, digital infrastructure, and other emerging technologies. It will also work closely with industry leaders, regulators, and venture capitalists to align insurance and risk management solutions with the latest advancements in the fintech space.
