Cyber analytics supplier CyberDice has launched a new version of its cyber risk modeling platform.
The agency’s Portfolio Manager platform was initially launched in 2018 and permits insurers to emphasize take a look at reinsurance portfolios in opposition to a variety of systemic cyber-related situations, together with information breaches, cloud outages, international ransomware assaults, and monetary fraud.
The newest version of the platform, Portfolio Manager v.3.0, accommodates new industry-sponsored risk situations together with cloud failures, enterprise blackouts, and contagious ransomware.
It additionally consists of structural enhancements to the cyber disaster mannequin, superior contract loss modeling capabilities, and the flexibility to match and distinction attritional and huge losses impacting particular person corporations with catastrophic losses impacting a number of corporations in an insurance coverage portfolio.
“In the final yr, we’ve seen unprecedented occasions together with widespread will increase in ransomware assaults, vastly efficient electronic mail siphoning of one of the biggest electronic mail internet hosting suppliers, and an extremely refined provide chain assault impacting high-profile companies and governments across the globe,” stated Aswin Kashyap (pictured), co-founder and chief product officer of CyberDice. “Modeling such distinctive and evolving cyber dangers is a problem for insurers, reinsurers and reinsurance brokers. We have labored with our expansive shopper base to develop a forward-looking view of risk knowledgeable by modifications to the risk panorama by the newest version of Portfolio Manager.”