Cyber insurance is a fast-emerging space and requires cutting edge analytics to match. JLT Re offer a comprehensive analytical solution to meet those needs.
Cyber has developed into one of the most talked-about product lines in the insurance market. We are moving into an increasingly automated and inter-connected world built on the pillars of data accumulation and IT infrastructure supply chains. As such, the risk environment is changing rapidly before our eyes and the insurance market needs to respond appropriately.
The “standalone” cyber market has swelled to approximately USD 3bn, but it still has far to go to meet the significant insurance gap. In addition, insurers are struggling with the possibilities of “silent” cyber exposure existing on traditional product lines without specific affirmative or exclusionary wording.
For industry stakeholders seeking to navigate these opportunities and threats, the value of tailored analytics is key. Grappling with the challenges of leveraging appropriate and relevant data and truly understanding exposures are fundamental to unlocking this market.
What We Do
Core services that we offer to our clients include:
- CyberCube portfolio aggregation modelling
- Corax portfolio individual risk and aggregation modules
- Silent cyber scenario quantification
- Portfolio experience and exposure rating
- Bespoke cyber modelling
There are many complexities relevant to this emerging area of insurance analytics, and a robust and focussed response is needed. In order to best serve client needs, we can offer an analytical unit with a specific and sole focus on the cyber peril.
Tools and expertise utilised blend a range of actuarial and exposure management techniques, as well as incorporating customised and bespoke proprietary modelling solutions. In addition, active partnerships with two industry-leading cyber modelling technology firms are in place; CyberCube and Corax, which provide valuable insight into insured exposures.
By consolidating these resources, JLT Re are uniquely placed to respond to evolving cyber modelling needs
Head of Cyber Analytics
Tel: +44 (0)20 7466 1328