Cyber Insurance: Essential for Digital-First Indians Amid Soaring Cybercrime

• India's digital ecosystem is rapidly expanding, with 21.63 billion transactions worth INR 27.97 trillion in December 2025, highlighting increased digital adoption.
• Cyber fraud losses in India surged by 206% year-on-year, from INR 7,465.18 crore in 2023 to INR 22,845.73 crore in 2024, indicating a critical need for protection.
• Cyber insurance offers comprehensive protection against identity theft, unauthorized financial access, and covers legal costs for prosecuting cybercriminals.
• Policies like SBI General's Cyber VaultEdge provide support for IT experts, data restoration, psychological consultation, and compensation for lost wages due to identity theft.
• Family coverage extension ensures spouses and dependent children are also protected, offering a robust safety net for the entire household against cyber threats.

Why It Matters: Cyber insurance is crucial for digital-first Indians to protect against rising cybercrime and ensure financial and mental well-being.