Petr Dorofeev, Technology Liability & Cyber Product Lead

New Zealand's high-growth technology companies are still looking outward -offshore expansion, capital raising and product development are firmly on the agenda, with Australia, North America and other markets in their sights. For brokers, that creates both an opportunity and a responsibility: tech clients change quickly, and their risk profile can look materially different from one renewal to the next.

Delta recently attended MORGO, a not-for-profit network bringing together founders, CEOs and leaders of high-growth technology companies from New Zealand. We sat down with Petr Dorofeev, Delta's Technology Liability & Cyber Product Lead, to hear what he took from the event, and what it means for brokers and their tech clients.

Why Delta was in the room

SMEs Delta has been part of the technology insurance ecosystem in New Zealand for a number of years, and many of the businesses at Morgo are exactly the kind we work with: fast-moving, innovation-led companies with complex cyber, technology liability and general insurance needs.

"Delta started life as a scale-up too, and we built our underwriting capability around data, digital platforms and specialist sector knowledge," Petr says. "That gives us a practical understanding of the way technology companies think, grow and take risk."

Cyber is still on the agenda - but AI has changed the conversation

A few years ago, cyber may have been the dominant concern for many tech founders and senior leaders. Today it's still important, but increasingly discussed alongside a bigger question: how will AI reshape the future of their business?

For some SaaS businesses, AI is both an opportunity and a competitive threat. Founders are weighing how to embed it into products and operations, while also asking whether it could erode demand for parts of their existing offering. That has implications not just for valuation and growth, but for cyber, technology liability, professional liability and operational resilience.

"AI is not just an opportunity. It can also change a company's risk profile very quickly, especially if it becomes part of the product or service being delivered to customers." - Petr

AI-related risk isn't limited to cyber-attacks or model performance either - it can create real operational and financial pressure. A business might underestimate the cost of AI usage, burn through budgeted capacity faster than expected, and then struggle to deliver on time. For brokers, that means AI belongs in the wider operational resilience conversation: how is it being used, who's accountable, what controls exist, and what happens if it fails or introduces unexpected cost or dependency?

Third-party dependencies are harder to ignore

Most tech companies understand their exposure doesn't stop at their own systems - cloud providers, APIs, software vendors, data partners and manufacturers can all affect resilience when something goes wrong. That awareness matters most for companies expanding into markets where privacy, data protection and cyber incident obligations differ from New Zealand's. As companies scale, governance needs to keep pace with technology, contracts, supply chains and regulatory exposure.

The broker question that often gets missed

For brokers, the most useful starting point isn't always a product question - it's a business one: what has changed since the last conversation? Tech companies can raise capital, enter a new market, launch a product or see rapid revenue growth within a year. Equally, their valuation can be challenged quickly if new technology shifts customer demand. A static renewal approach won't capture that movement.

"The advice for brokers is to fully understand the business, check in regularly, and share that insights with underwriters. Given the pace of change in the technology sector a client's exposure can change significantly between renewals." - Petr

Questions worth asking before renewal

Brokers may want to dig deeper where a tech client shows:

• Expansion into new jurisdictions with different data protection or cyber obligations
  
• A recent or planned capital raise, acquisition, pivot or major launch
  
• Heavy reliance on a small number of suppliers, cloud providers or APIs
  
• AI use in customer-facing products or core operations
  
• Governance tension between founders, boards or investors
  

• Rapid growth in customers, revenue or data volumes
  

• Little evidence they've reviewed how emerging risks affect their cover
  
  

Cyber policy enhancements moving into the wording

Delta is also updating its cyber policy approach. From 1 September, enhancements previously applied by endorsement move into the body of the policy wording for renewals and new business - simplifying documentation and making default cover clearer. Examples include cover for CEO- or regulator-directed shutdowns following a suspected cyber incident, and a sub-limited lost bid extension where a cyber event prevents a client participating in a tender. Reputational harm and cloud network failure cover are also being folded into the main wording.

What brokers should do next

Specialist tech clients need specialist conversations. Brokers can add value by asking practical, forward-looking questions about growth plans, new markets, AI adoption, Frontier AI risk, supplier dependencies and governance. The more context brokers bring to underwriters, the better positioned they are to secure the right cover for clients whose risks rarely stand still.

If you have a high-growth or technology client whose risk profile may have shifted, get in touch with Delta's underwriting team to discuss technology, cyber or combined insurance solutions tailored to their business.