June 21 2021, London, UK –
CyberCube, the leading cyber analytics provider for the insurance sector, has released a new edition of Portfolio Manager, the industry’s leading cyber risk modeling platform used by insurers, reinsurers and reinsurance brokers.
Portfolio Manager allows insurers to stress test (re)insurance portfolios against a range of systemic cyber-related scenarios including data breaches, cloud outages, global ransomware attacks and financial fraud. Originally launched in March 2018, it was the first fully probabilistic cyber catastrophe model to enable clients to drill down and identify loss drivers and areas of risk accumulation.
In response to the rapid evolution of cyber threats during the pandemic and feedback from clients, Portfolio Manager v3.0 contains new industry-sponsored threat scenarios including cloud failures, business blackouts and contagious ransomware. The portfolio risk management solution includes structural enhancements to the cyber catastrophe model, advanced contract loss modeling capabilities and the ability to compare and contrast attritional and large losses impacting individual companies with catastrophic losses impacting multiple companies in an insurance portfolio.
Ashwin Kashyap, Co-founder and Chief Product Officer of CyberCube, said: “In the last year, we’ve seen unprecedented events including widespread increases in ransomware attacks, hugely effective email siphoning of one of the largest email hosting providers, and an incredibly sophisticated supply chain attack impacting high-profile businesses and governments around the globe. Modeling such unique and evolving cyber risks is a challenge for insurers, reinsurers and reinsurance brokers. We have worked with our expansive client base to develop a forward-looking view of risk informed by changes to the threat landscape through the latest edition of Portfolio Manager.”
Portfolio Manager v3.0 is available to clients of CyberCube with immediate effect.
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