risk

While COVID-19 mitigation efforts justifiably focus on humanitarian concerns, businesses in the financial and insurance industries may not be aware of the associated cyber-risk implications of dealing with the COVID-19.  There is bad news and good news from a cyber risk perspective. ... Read More >
Our aspiration at Guidewire Cyence is to enable insurers to establish themselves as the ultimate cyber risk transfer destinations for their clients. Guidewire Cyence Risk Analytics is the most advanced cyber solution available—an economic cyber risk modeling solution that adjusts as the cyber landscape shifts. Guidewire Cyence continuously gathers data and updates economic models based on changing circumstances, delivering tangible benefits to insurers and their customers as they face the volatility generated from evolving 21st-century risks. ... Read More >
In September 2019, the world’s oldest insurance marketplace made yet another announcement about how it would transform itself for the future. The announcement of the Lloyd’s Blueprint One had been well signalled when Lloyd’s announced the Future of Lloyd’s Prospectus back in May. This was followed by a consultation exercise that wrapped up in July.... Read More >
The adoption of cyber insurance is on the rise. According to a recent Marsh & McLennan survey, 47% of organizations indicated that they have cyber insurance, up from 34% in 2017*. In addition, 89% of them were confident that their policies would cover losses caused by a cyber event. But, although cyber insurance has gained significant momentum, investment in traditional cyber prevention technology has far outpaced cyber insurance spending.... Read More >
To quickly grow their business in a highly competitive market, insurers frequently consider adding a new insurance line or entering a thriving new market. Why not do both? For example, they can launch an insurance product that covers new and evolving cyber risk specifically for the underserved market of small and medium-sized enterprises (SMEs).... Read More >
Guidewire Cyence™ Risk Analytics recently announced the general availability of the fourth-generation update to our risk model (Model 4) for Guidewire Cyence™ for Cyber Risk Management. While developing this new model, our team collected additional data and reviewed a significantly larger set of claims.... Read More >
The small- and medium-sized business (SMB) segment represents a compelling growth opportunity for insurers. However, due to the lack of information on small businesses, a common challenge for insurers in the small business workers’ compensation market is identifying risk differentiation between similar types of small venture entities.... Read More >
Even within P&C Commercial lines, Workers’ Compensation insurance is a unique niche. The stakes, if not higher, are at least different when you’re insuring not buildings and vehicles but human beings. People. Can you imagine a more unpredictable risk, or one that contributes in more ways to your success? ... Read More >
In the last decade, websites have become so ubiquitous that GoDaddy, one of the oldest and largest hosting providers in the U.S., was once a regular Super Bowl advertiser (until 2017). Maybe you remember the commercial that ran in 2017 and was so racy that it caused a lot of controversy. Cheap monthly hosting with easy-to-use tools and unlimited storage has made it easy to set up a website with a shared hosting provider like GoDaddy—without much thought about the security implications.... Read More >
Cyber attacks have become the most prominent threat or disruption to business entities in recent years. Corporate entities are concerned about damages to their brands, the stability of revenues, and the safety and privacy for their employees and customers because criminals have become more sophisticated at figuring out standardized security and evading defenses. Specifically, cyber attacks present unprecedented challenges to 21st century enterprises because of the speed of occurrence and severity of damage, along with the enterprise’s vulnerability to keep up with the evolving complexity and volume of cyber threats. ... Read More >

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