THE CURRENT LANDSCAPE Increasingly, businesses are realising the need to integrate digital and automated operations into their processes, particularly in response to the current shortfall in available manual skills. According to research from Make UK, 62 per cent of manufacturers are planning to increase investment in digital technologies and data analytics in the next 12 months*. The use of Internet of Things (IoT) enabled technology, Artificial Intelligence (AI) and machine learning, additive manufacturing and 3D printing can all speed up the manufacturing process but also potentially open a business to significant and largely uninsured losses.
T
MANAGING YOUR RISK With significant investment being made, adding a cyber risk management strategy in place can be overlooked due to perceived cost to achieve adequate levels of cybersecurity and the perceived likelihood of an attack. This not only makes it easier for cybercriminals to attack, it also increases the likelihood that
he events of recent years have acted as a catalyst for the rollout of new technology as companies seek a competitive advantage through automation. But what does this mean for your risk profile?
PROTECTING YOUR BUSINESS IN AN AUTOMATED LANDSCAPE
KEEP YOUR BUSINESS MOVING While the technologies (and therefore risks) are changing all the time, there are key areas which you should build into your risk management programme. The bottom line is new technologies generate new risks, and that is where your insurance broker can support your business. As specialists in manufacturing insurance and
impacted companies will experience longer periods of downtime, with production at a standstill as they scramble to restore operations. Data breaches can be extremely costly both in
terms of money and reputation, and a cyber event or attack such as ransomware or funds transfer fraud can impact all areas of your business. Investing in cyber risk management in advance can save disruption and significant cost later on. Having access to a fast, professional
claims and incident response team can be vital to get business back up and running with minimal downtime.
risk management, Gallagher can support your business to plan and assess the unique risks and liabilities that your business could face as it becomes digitally enhanced.
Arthur J. Gallagher Insurance Brokers Limited is authorised and regulated by the Financial Conduct Authority. Registered Office: Spectrum Building, 7th Floor, 55 Blythswood Street, Glasgow, G2 7AT. Registered in Scotland. Company Number: SC108909.
We can help keep your business moving.
Gallagher is the insurance broking partner of more than 4,200 manufacturing and heavy engineering businesses throughout the UK, and many more around the world.1
Our clients range from the single facility in the UK to multi-site operations worldwide.
Our expertise is engineered for you, we can help your business identify and mitigate threats, and lower the total cost of risk; no matter how large, complex or widely-distributed your operations may be.
CONNECT WITH US
For further information, please visit
ajg.com/uk/manufacturing-insurance or scan the QR code.
1
Statistics taken from Gallagher Drive® as at 11.03.2023 for Gallagher UK Retail clients. Arthur J. Gallagher Insurance Brokers Limited is authorised and regulated by the Financial Conduct Authority. Registered Office: Spectrum Building, 7th Floor, 55 Blythswood Street, Glasgow, G2 7AT. Registered in Scotland. Company Number: SC108909. FP436-2023 Exp. 03.04.2024.
© 2023 Arthur J. Gallagher & Co. | GGBRET5453
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*Make UK Executive Survey 2023, manufacturing businesses over 1,000 employees.
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