The Future of Cyber Risk Modeling

April 24, 2018 at 11am EDT

Effectively managing and modeling cyber risk can make all the difference for insurers, reinsurers, and brokers. As cyber insurance expands and evolves, the insurance industry must make well-informed underwriting decisions to meet both market demand and ensure financial success. From pricing more accurately to managing cyber aggregation, harnessing data analytics and modeling can usher the insurance industry into the future of cyber risk.

For more info and registration of this upcoming webinar, visit https://www.advisenltd.com/2018/04/24/the-future-of-cyber-risk-modeling/

Advisen Ltd. April 2018. The Future of Cyber Risk Modeling [Webinar].

New Data Standards Could Offer More Cyber Accuracy Now

AIR Worldwide last week released a cyber exposure data standard, a first step toward a full cyber model but insurers may not have to wait to begin more accurately underwriting and pricing cyber risk, according to Scott Stransky, principal scientist at AIR.

Stransky recently spoke with Advisen to offer more detail about the standard as well as the preparer’s guide issued in conjunction with it. He explained that while AIR has been at work on developing a cyber risk model, the standard, in conjunction with AIR consulting and a SQL schema, can already provide insight for insurers into their cyber risk portfolio. The standard represents extensive work with over 50 insurance companies, according to Stransky, and is meant to be a tool that insurers can develop over time to meet their needs, as well as create a uniform way among the insurance and reinsurance industry to communicate about cyber risk.

Read more at http://www.advisenltd.com/2016/02/02/new-data-standards-could-offer-more-cyber-accuracy-now/

Ayers, Erin. “New data standards could offer more cyber accuracy now.” Advisen Ltd, 2 February 2016. Web. 5 February 2016.