WTW launches risk advisory practice dedicated to technology sector
Global advisory and insurance services firm Willis Towers Watson (WTW) has launched a dedicated technology industry practice downunder, with the nine-strong team to be led by Ben Di Marco.
The new practice will sit within the firm’s A/NZ corporate risk & broking division and advise regional technology companies on current and emerging risks impacting the industry both locally and abroad, particularly as to insurance.
A law and commerce graduate, Ben Di Marco has been with WTW out of Brisbane since 2019, and in addition to serving as a guest lecturer sits on a number of advisory committees around data privacy law and cyber risk governance.
“The technology industry is amongst the fastest moving and most dynamic sectors in the economy,” Di Marco stated. “This places technology organisations at the forefront of emerging regulatory and stakeholder challenges, and they deserve to be supported by insurance and advisory experts who understand their challenges and can deliver responsive and fit-for-purposes outcomes.”
Among the contemporary challenges outlined by Di Marco are a drastic increase in civil liability risks and losses arising from modern cyber breaches, and the increased focus of regulators on technology cybersecurity, privacy, and supply chains. Additionally, companies will have to contend with recent and incoming legal reforms around data and AI risk management.
WTW’s A/NZ head James Baum added: “Technology organisations are at the forefront of innovation, creating applications such as AI and robotics, specialty products and solutions to tackle many of the challenges we face today. To meet these needs, WTW is skilled in the complex technology marketplace and understands the industry’s specific risk exposures.”
The launch of the new practice follows Baum’s recruitment from Aon in July, with Baum having most recently served as global head of wholesale & specialty broking out of London and previously Australia CEO across almost two decades at the rival firm. Baum took over A/NZ duties from Simon Weaver, who continues on as head of WTW’s merged Asia Pacific business.
Baum says that in formalising its local technology industry practice, WTW would enhance its client proposition by leveraging its unique cross-functional skill-sets across product specialisation, data & analytics, broking, claims advocacy, risk control, and innovation among other areas to provide tailored risk management solutions based on individual company profiles.
Also among the nine-strong team delivering the new service is former La Trobe University CISO Andrew Morgan, who has joined WTW as its A/NZ cyber consulting leader. Prior to La Trobe, Morgan served for six years in senior positions at NBN, before which he was a forensics partner at BDO. He also spent time as a director at Deloitte and PPB Advisory following an earlier career in law enforcement.
