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Leveraging Data and Insights for Cyber-Readiness

28.11.2019

Leveraging Data and Insights for Cyber-Readiness

Cyber is one of the most volatile and unpredictable risk facing businesses today. As one of the world’s leading cyber insurers we have handled thousands of cyber claims. Our patented underwriting model leverages insights from this deep claims experience and from numerous data sets to model a client’ s cyber risk in economic terms. The resulting reports help businesses better understand and prepare for the cyber risks they face.

 

Businesses access this intelligence by completing our new smart proposal form that adapts to the businesses’ sector, size, and cyber exposures as it is completed.  The data collected is then input into our advanced, proprietary underwriting model to generate an analysis of the business’s cyber posture including:

  • A rating of the business’s preparedness for an attack and its ability to protect its data.
  • The likelihood of a malicious or accidental action exposing weakness in the business’s IT system.
  • Ratings of the business’s exposures to different types of cyber threats.
  • The financial impacts of a data breach and Denial of Service attack.

 

The summary report is freely available on submitting the smart proposal form – even if the applicant chooses not to purchase a CyberEdge policy. 

Extract from sample report quantifying the business’s cyber posture

If the business does purchase CyberEdge, then it is entitled to the executive report with even greater information about the business’s cyber readiness including:

  • Tailored risk practices for the client with estimated risk reduction ratings for each
  • Cyber incident probabilities with low, median, high and worst case impacts
  • Analysis of the residual cyber risk in different parts of the business’s IT systems
  • Business impacts relating to confidentiality, integrity, and availability of data
 

As Mark Camillo Head of Cyber EMEA at AIG commented “These insights give Risk Managers valuable visibility into and context around their cyber exposures.  They help businesses stay informed about the cyber risks they face, the potential impacts on their operations, the strength and adequacy of their cyber risk defences and optimum cyber risk management strategies.”