Insurance Risk Control


Case Usage

Using Quantar's CyCalc® Cyber Analytics

Quantar supports underwriters through the provision of proprietary client cyber risk data in many forms. This ranges from actual attacks experienced by an enterprise, to modelling of mitigation actions to identify the most effective means of reducing or eliminating financial risk exposure. Here are some basic concepts of using CyCalc® as a means of both aiding the assessment and pricing process, but also as an added-value service to your clients for corporate risk management and data breach law compliance.

Case 1: Assess Prospective & Actual Cyber Client Risk

  • View cyber threats experienced by the insured over time
  • Project extrapolated threat data into future periods of up to 12 months
  • Use red/amber/green visual warnings to trigger risk event management
  • Identify risk appetite through trend analysis

Case 2: Price Risks by Coverage and Terms

  • Utilise industry standard risk statistics for enhanced modelling
  • Define overall risk exposure through application of temporal profiles
  • Drill-down capability provides deep insight into risk types with individual and overall results
  • Run audit reports for in-house and client benefit and for regulatory compliance

Case Use 3: Accumulation & Exposure Management

  • Run model for future attack rate forecasts
  • Calculate future expected loss exposure up to 12 months ahead
  • Determine conditional expected shortfall
  • Identify tail risk
  • Review exposures according to confidence level
  • Aggregate total exposure for cyber portfolio management

Case Use 4: Client Advisory & Regulatory Compliance

  • Create baseline scenario to determine existing level of financial risk
  • Utilise ” what-if ” capability to model mitigation action efficiency for optimal capital allocation
  • Define sequencing of security enhancements to arrive at desired risk exposure
  • Match risk appetite to total enterprise cyber risk valuation for corporate risk management
  • Save scenarios for regulatory data breach compliance documentary support

Case Use 5: Create Sectoral Profiles

  • Map business processes to system and categories for dependency modelling
  • Manage outsourced process risk through adjustable weighting selection
  • Model temporal shift impacts upon overall financial risk from downtime or process outage
  • Determine required granularity of model according to requirements
  • Configure for non-electronic threats, including malicious insiders and physical infrastructure damage

For further information on how Quantar can support your underwriting for cyber and business interruption related risks, please contact our sales team

Quantar professional service quality assurance is provided by the Global Association for Software Quality (GASQ), which is an independent, international association. GASQ maintains an international network and supports certification programs.

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