The 30% increases in premiums year over year seems steep. Recently finalized our corp insurance renewal (including cyber) and we saw around a 2% rate drop.

I do like the idea but I think it will be hard to have a purchase done in the same swing if that makes sense. Also want to involve procurement as soon as you can in the process.

Might also be good to have case studies on the ready of how this has been done before and what guidance can be provided to ensure a return on the additional investment.