Risk Modeling

AdvantageGo and FortifyData Partner to Enhance Cyber Risk Scoring for Insurance Industry

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AdvantageGo, a commercial insurance and reinsurance software provider under Coforge, has partnered with FortifyData, an automated cyber risk management firm. This collaboration aims to improve the accuracy and comprehensiveness of insurers’ cyber risk scoring. AdvantageGo’s Underwriting Workbench will integrate FortifyData’s cyber risk ratings and monitoring capabilities. This integration will provide AdvantageGo’s clients with real-time insights … Read more

AI Cuts Cyber-Insurance Claim Processing Times By > 80%?

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So reports Venture Beat in a report on AI’s impact on cyber insurance, which also says the technology can dramatically accelerate risk assessments: “Cyber insurers are also looking to AI to reduce the time and costs of real-time risk assessments that can cost between $10,000 to $50,000 per assessment and take between four to six weeks to … Read more

Cyber Cat Bonds Hold Up in Secondary Market; More Expected

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Cyber cat bonds issued over the last year are trading above par, “(a)n indication that these bonds are sought after in the secondary market and have not seen spread widening, but in fact have seen spreads tightening,” Dirk Schmelzer, Head Portfolio Manager ILS/CAT Bonds and Partner at Plenum Investments AG, told Artemis, a provider of … Read more

1/3 of Ransomware Victims Did Not Recover Data Even After Paying Up

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In the world of cybercrime, few experiences are as frustrating as paying a ransom to recover stolen data only to remain empty-handed. This stark reality is highlighted in the issue of ransomware data recovery where recent studies reveal that 1/3 of ransomware victims did not recover data even after paying up. For individuals and businesses, … Read more

Resilience Updates Cyber Risk Solutions with New Loss Prevention Features

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Resilience has updated its cyber risk solutions, introducing new features that enhance its cyber insurance and risk management services. Following the release of Technology Errors and Omissions (E&O) coverage earlier this year, the company has added two new tools to its offerings: the Breach & Attack Simulation (BAS) and the Cyber Risk Profile Builder. The … Read more

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