Cyence for Cyber Risk Management

Modeling 21st-century risk in dollars and probabilities

Why Cyber Insurance?
 

The cyber insurance market is exploding. It's the fastest-growing segment in the P&C insurance industry. However, with the lack of substantial loss history to build traditional actuarial pricing models, insurers are faced with new challenges in capitalizing on this booming market.

Guidewire Cyence™ Cyber Risk Management is a cloud-native, cyber-risk modeling solution built for the insurance industry. Unique in its technology of leveraging continuous data collection and curation at petabyte scale, big data analytics, and machine learning, the solution enables insurers to quantify cyber-risk exposures in financial measures and design promising insurance products that seize growth opportunities in this new market.  

Benefits
 

Cyence for Cyber Risk Management enables companies to realize the following advantages:

Improved risk selection
Augments underwriting information with 40+ additional risk factors based on externally collected data
 
Augmented pricing
Addresses pricing adequacy at the individual risk and portfolio level
 
 
Enhanced management
Evaluates and tracks portfolio health through portfolio loss analyses and accumulation risks
 
Realized Growth
Enables users to design new insurance products and go-to-market strategies that drive increased revenues
 
 

A Comprehensive Solution for All Your Risk-Assessment Needs
 

Our differentiation lies in the completeness and sophistication in this end-to-end cyber-risk solution built with a dedicated industry focus. Leaders across the insurance industry use Cyence for Cyber Risk Management to prospect and select risks, assess and price risks, manage portfolio risk accumulations, and develop new insurance products with confidence.

Our unique offering serves primary insurers, reinsurance carriers and brokers, financial institutions, and rating agencies.

Having a single solution with advanced data management and modeling capabilities helps insurers avoid the complexity of managing and maintaining multiple stand-alone solutions, eliminate data silos, and understand the shared attributes and correlation of risks. For example, Cyence for Cyber Risk Management enables realistic, fact-based measures of probable maximum loss by examining the correlation of cyber risk in a portfolio with the potential losses to that portfolio from disaster scenarios. This detailed and continually updated understanding of risk accumulation is crucial for insurers managing the long-term stability and soundness of their portfolios.