This Research Wales Innovation Funded project has brought together hundreds of Welsh SMEs looking to increase their cyber resilience against day-to-day risks. SMEs are the backbone to Wales' economy, Swansea University has partnered with FSB and many guest speakers to provide essential training on how to protect against these threats.
Baris Soyer and his team used the Research Wales Innovation Fund to employ research assistants, who contacted hundreds of Welsh SMEs, to ensure that the team had a good understanding of their approach to cyber risks.
The data collected then enabled the team to engage with cyber insurers and cyber security firms, to support them in developing a new insurance product, that will be useful for the needs of Welsh SMEs.
Over recent years, the risks of cyber security has greatly increased for Welsh SMEs. This is why Baris Soyer and Angie Nicholas of Swansea University has undertaken extensive research within the cyber industry to show how to overcome these attacks. To help ensure the research is inclusive, Baris and Angie have partnered with insurance experts, cyber experts, and business experts to deliver their research in the most impactful way.
Baris, Angie and the team established partnerships with selected cyber security firms from Wales and insurers from the UK. A large part of this project was to provide training to Welsh SMEs, on how they can better use risk-mitigation tools, including cyber insurance.
The team were delighted that their research findings and recommendations have been published in the Edinburgh Law Review. Moreover, the findings have already been positively received by the industry and the academic community.
This RWIF funded project has seen the partnership between Swansea University and Thomas Carroll Group PLC, who has more than 50 years' experience in business insurance broking, personal insurance broking, employee benefits, wealth management, health & safety and employment law consultancy.
For anyone who is looking to better their security systems, attending one of Swansea University's cyber risk events can provide you with detailed advice and support that is exclusive to your sector.
None of this research would have been possible without the funding from the Research Wales Innovation Fund, thank you to all the partners and supporters. This project helps to make business environments safer for Welsh SMEs.