The inexorable spread of the digital economy is fundamentally changing the nature of risk, presenting unique opportunities – and challenges – to the (re)insurance industry. How the industry responds to the rapid pace of technological change is crucial to its long-term relevance and growth.
With that premise in mind, CyberCube Analytics and Guy Carpenter collaborated on an endeavor to help (re)insurers quantify cyber risk by pooling data resources and analytics capabilities in order to cultivate a view of the potential U.S. cyber industry loss from among a range of cyber catastrophe scenarios. CyberCube offers a software-as-a-service analytics platform for cyber risk aggregation modeling and insurance underwriting. The study aims to contribute to the discussion surrounding the key drivers of catastrophic insured loss within the U.S cyber insurance market and how these results can be incorporated into portfolio construction, risk retention and transfer strategies and capital allocation.
