Our collaboration with Guy Carpenter: Looking Beyond the Clouds
The inexorable spread of the digital economy is fundamentally changing the nature of risk, presenting unique opportunities –and challenges – to the (re)insurance industry. How the industry responds to the rapid pace of technological change is crucial to its long-term relevance and growth. The constantly evolving nature of cyber risk makes it challenging to definitively quantify, yet it is critical for (re)insurers to understand the impact of severe events to inform strategy and risk tolerance.
With that premise in mind, CyberCube Analytics and Guy Carpenter collaborated on an endeavor to help (re)insurers quantify cyber risk by pooling data resources and analytics capabilities in order to cultivate a view of the potential U.S. cyber industry loss from among a range of cyber catastrophe scenarios. The study aims to contribute to the discussion surrounding the key drivers of catastrophic insured loss within the U.S. cyber insurance market and how these results can be incorporated into portfolio construction, risk retention and transfer strategies and capital allocation.
About Guy Carpenter
Guy Carpenter & Company, LLC is a leading global risk and reinsurance specialist with more than 2,300 professionals in over 60 offices around the world. Guy Carpenter delivers a powerful combination of broking expertise, trusted strategic advisory services and industry-leading analytics to help clients adapt to emerging opportunities and achieve profitable growth. Guy Carpenter is a wholly owned subsidiary of Marsh & McLennan Companies, the leading global professional services firm in the areas of risk, strategy, and people. With nearly 65,000 colleagues and annual revenue over $14 billion, through its market-leading companies including Marsh, Mercer, and Oliver Wyman, Marsh & McLennan helps clients navigate an increasingly dynamic and complex environment. For more information, visit www.guycarp.com. Follow Guy Carpenter on Twitter @GuyCarpent