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 spread of systemic cyber-related eventualities, together with information breaches, cloud outages, world ransomware assaults, and monetary fraud.
The newest version of the platform, Portfolio Manager v.3.0, incorporates new industry-sponsored risk 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 check and distinction attritional and enormous losses impacting particular person firms with catastrophic losses impacting a number of firms in an insurance coverage portfolio.
“In the final yr, we’ve seen unprecedented occasions together with widespread will increase in ransomware assaults, vastly efficient e mail siphoning of one of the most important e mail internet hosting suppliers, and an extremely subtle provide chain assault impacting high-profile companies and governments across the globe,” mentioned 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 consumer base to develop a forward-looking view of risk knowledgeable by modifications to the risk panorama by way of the newest version of Portfolio Manager.”