Vincenz Klemm, CEO of Baobab: $4 Million to Build the Future of Cyber Insurance

In today’s episode of Category Visionaries, we speak with Vincenz Klemm, CEO of Baobab, about his journey from fintech to political science and back into the startup space, leading the European cyber insurance market with Baobab, a company trying to do digital security more safely. Companies get hacked more than most of us might like to think, and how well we recover depends on getting the right precautions in place. For Baobab, that could mean just a comprehensive insurance package, or going even further with a tailor-made collaboration with customers and symbiotic product learning as we grow together. It's a relatively new science in general, which is why building strong networks across sectors and in different markets is absolutely key to success.

Topics Discussed:

• The problem of hacking for modern companies, and the businesses backing hacker labs all over the world
• How to differentiate between different attack strategies, and why DDos is getting more sophisticated, and more population
• Quantifying intangible assets - how does one account for reputation damage when it comes to calculating an insurance premium?
• The fundamental needs of cyber insurance are everywhere, but not all regulatory frameworks are the same. How to expand across different markets in the short-medium term

 

Favorite book: 

A Culture of Growth: The Origins of the Modern Economy