Hungary’s business environment is becoming more digitally connected, as companies expand their use of automation, cloud providers, data and AI. Paul Johannes Spittau, Head of Group Carrier Relations and Insurance Mediation at GrECo Group, speaks with Akos Pal, General Manager at GrECo Hungary, about what this shift means for risk, resilience and insurance.
A more connected risk landscape
Spittau: How would you describe the current digital transition climate in Hungary?
Pal: It is moving quickly and becoming more complex at the same time. Hungarian businesses are investing in automation, cloud, data and AI, and that means digital dependency is growing across operations, supply chains and customer service. As a result, technology risk is no longer a side issue – it is increasingly part of day-to-day business resilience. In many cases, the challenge is not digitalisation itself, but how quickly new dependencies are being created across the business.
Spittau: What is driving that change most strongly in Hungary right now?
Pal: Businesses are becoming more reliant on connected technologies and third-party providers, and clients are starting to see that digital disruption can trigger real financial loss particularly where downtime or supplier failure interrupts operations. At the same, regulation is pushing cyber resilience higher up the management agenda.
Where exposure is growing
Spittau: Which sectors or business models in Hungary are feeling that exposure most clearly?
Pal: Manufacturing, automotive, logistics, energy and financial services are all high on the list. These sectors are highly interconnected and often depend on continuous system availability. A cyber incident, platform outage or third-party failure can affect production, service delivery and contractual commitments very quickly.
Spittau: How is this changing the conversations you are having with clients in Hungary?
Pal: Conversations are becoming more practical and more business focused. Clients increasingly want to understand where digital dependency sits in their organisation, how exposed they are to third-party failure and whether their current controls are strong enough for the way they now operate. There is also more interest in the connection between resilience measures and insurability, because companies recognise that risk quality can influence both coverage and underwriting outcomes.
Insurance in a more digital economy
Spittau: What does this shift mean for cyber and technology insurance in Hungary?
Pal: It means clients are looking at cover in a more business-oriented way. They’re no longer focused only on data breach scenarios. They’re also paying attention to business interruption, technology liability and contingent loss arising from cloud or supplier dependency. Meanwhile, insurers are asking tougher questions and increasingly want evidence of controls, governance and incident response maturity. This makes preparation more important, because companies need to show not only that they understand the exposure, but also that they are managing it in a credible way.
Spittau: Is there a recent event that captures the nature of digital disruption in Hungary particularly well?
Pal: The VBÜ ransomware attack in late 2024 is a strong example. It showed that cyber incidents can move quickly from an IT problem into an operational and strategic issue, especially where sensitive data, institutional processes and external dependencies are involved. The lesson for companies is pretty clear: resilience depends not only on prevention, but also on response capability and the ability to contain disruption early.
Priorities for resilience
Spittau: What should companies in Hungary prioritise now if they want to strengthen resilience and improve insurability?
Pal: To be better placed both operationally and in their discussions with insurers companies should firstly, make sure they understand critical dependencies; especially cloud, outsourced IT and key suppliers. Secondly, they should make resilience visible through tested controls, clear governance and realistic incident planning. And thirdly, they should treat insurance as part of a broader risk strategy, making sure cover reflects real business interruption and technology exposure rather than only questionnaire-based assumptions.
Paul Johannes Spittau
Head of Group Carrier Relations & Insurance Mediation
T +43 664 537 17 42
Ákos Pál
General Manager
GrECo Hungary
T +36 70 314 5536
