Two in five Singapore firms plan cyber insurance within 12 months

Deepfake or voice-cloning attacks affected 39% of respondents.

Cyber insurance is becoming a higher priority for Singapore organisations as the growing use of artificial intelligence (AI) exposes businesses to new cyber risks, according to ESET’s Enterprise Cybersecurity Report 2026.

Some 36% of organisations surveyed said they plan to obtain cyber insurance over the next 12 months. 

However, 97% reported challenges in obtaining or maintaining coverage, with 43% citing stricter security requirements as a key difficulty.

The findings come as 79% of organisations in Singapore reported experiencing at least one AI-related cyber threat in the past year.

Nearly all organisations, or 97%, are already using or piloting AI across areas including customer service, document processing, business analytics, software development, risk management and threat detection.

The study, commissioned by ESET and conducted by Blackbox Research, surveyed 400 cybersecurity decision-makers in Singapore in the second quarter of 2026.

AI-generated phishing and impersonation attacks were the most commonly reported AI-related threat, affecting 46% of organisations. 

This was followed by attacks exploiting AI-powered tools, such as prompt injection, at 41%, and AI-enabled deepfake or voice-cloning attacks at 39%.

The risks were particularly high in financial services and technology. Some 62% of financial services organisations and 55% of technology companies reported AI-generated phishing and impersonation attacks.

At the same time, only 49% of organisations have measures in place to monitor access to AI tools and their outputs, indicating limited visibility over how AI is being used.

Parvinder Walia, president of ESET’s APAC region, said the growing use of AI meant organisations needed greater oversight of how the technology was being deployed and the data it could access.

“Cybersecurity is now essential to keeping businesses running,” Walia said. “As AI and connected technologies grow, organisations need to understand where their risks are, react quickly when something goes wrong, and adopt new technology with confidence.”