Guy Carpenter licenses the industry's first cyber risk modelling platform
Source: Middle East Insurance Review | Jun 2018
Guy Carpenter has produced the industry’s first cyber risk modelling platform with an inside-out view of cyber exposure through its two-year strategic partnership with CyberCube Analytics.
The new stochastic cyber catastrophe model and related intellectual property will be used to deliver innovative cyber reinsurance solutions. The platform helps reinsurers make more informed decisions when underwriting cyber risk by applying multidisciplinary analytic methods and leveraging exabytes of unique data.
Guy Carpenter’s cyber solutions specialty practice supported the development of the new model by focusing on the scope of required inputs for the data schema and helping the platform conform to the needs of insurance clients.
It also encouraged transparency throughout the platform’s development, particularly with respect to frequency and severity components, to support broad market adoption of the model and provided stress tests of the user interface and model output. M