Cyber analytics supplier CyberDice has launched a new version of its cyber risk modelling platform.
The agency’s Portfolio Manager platform was initially launched in 2018 and permits insurers to emphasize check reinsurance portfolios in opposition to a variety of systemic cyber-related eventualities, together with knowledge breaches, cloud outages, world ransomware assaults, and monetary fraud.
The newest version of the platform, Portfolio Manager v.3.0, accommodates new industry-sponsored menace eventualities together with cloud failures, enterprise blackouts, and contagious ransomware.
It additionally contains structural enhancements to the cyber disaster mannequin, superior contract loss modelling 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 12 months, we’ve seen unprecedented occasions together with widespread will increase in ransomware assaults, massively efficient e-mail siphoning of one of the biggest e-mail internet hosting suppliers, and an extremely subtle provide chain assault impacting high-profile companies and governments across the globe,” stated Aswin Kashyap (pictured), co-founder and chief product officer of CyberDice. “Modelling 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 menace panorama by means of the most recent version of Portfolio Manager.”