Aon Implements Guidewire Cyence to Mitigate Cyber Accumulation Risk and Support Cyber Sector Growth

Aon Implements Guidewire Cyence to Mitigate Cyber Accumulation Risk and Support Cyber Sector Growth

Aon plc (NYSE:AON) and Guidewire (NYSE: GWRE) announced that Aon is implementing Guidewire’s Cyence Risk Analytics risk selection and accumulation management products to help clients better quantify their risks and underwrite cyber insurance with increased confidence.
LONDON and SAN MATEO, Calif., 6 décembre 2021

Aon plc (NYSE:AON) and Guidewire (NYSE: GWRE) announced that Aon is implementing Guidewire’s Cyence Risk Analytics risk selection and accumulation management products to help clients better quantify their risks and underwrite cyber insurance with increased confidence.

A series of high-profile events in 2021 has reinforced re/insurers’ concerns about the systemic potential of cyber attacks, and the rapid rise of ransomware events has pushed re/insurers to reassess rates, terms and conditions, and underwriting standards. In this context, the industry requires innovation – both in risk assessment tools and aggregation methodologies – to support the development of cyber capacity with a goal of long-term, stable growth.

Through leveraging Guidewire’s extensive cyber data listening and modeling collection capabilities, Aon will be able to more effectively model client portfolios and develop new solutions that directly address specific needs around underwriting and reinsuring cyber risk, while helping to mitigate their key exposures, including cyber accumulation and ripple effects – such as business interruption, higher premiums, and new legislation.

Jon Laux, head of cyber analytics for Aon’s Reinsurance Solutions, said: “The risk of ransomware and other types of cyber attacks has risen dramatically, and so we are augmenting our capabilities to bring even more timely and actionable insights to our clients. In this regard, Guidewire Cyence provides us with advanced analytical solutions to measure the financial impact of cyber risk, mitigate current and future incident trends, and help clients make better decisions around pricing, risk selection, aggregation, and management.”

“We admire Aon’s use of Cyence to further its work to help clients reduce volatility and build more resilient businesses, governments, and communities,” said Paul Mang, chief innovation officer, Guidewire Software. “We are pleased by their vote of confidence in our cyber capabilities and look forward to infusing data analytics to help Aon’s clients navigate the volatility in a rapidly changing cyber insurance and reinsurance market.”

About Aon

Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Our colleagues provide our clients in over 120 countries with advice and solutions that give them the clarity and confidence to make better decisions to protect and grow their business.

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A propos de Guidewire Software

Guidewire est la plateforme à laquelle les assureurs IARD font confiance pour communiquer, innover et se développer efficacement. Nous associons les applications cœur de métier, le digital, l’analytique et le machine learning dans notre plateforme sous forme de service cloud. Qu’ils soient jeunes et de petite envergure ou parmi les plus grands et plus complexes au monde, plus de 540 assureurs utilisent Guidewire dans plus de 40 pays.

En tant que partenaire de nos clients, nous sommes en constante évolution pour assurer leur réussite. Nous sommes fiers de nos résultats inégalés en matière d’implémentations, avec à notre actif plus de 1600 projets réalisés avec succès et bénéficiant du soutien de la plus grande équipe de R&D, et l’écosystème de partenaires le plus vaste du secteur. Notre marketplace compte des centaines d'applications qui accélèrent l'intégration, la localisation et l'innovation.

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