Security News > 2020 > January > Hiscox to use CyberCube’s cyber analytics technology to better understand systemic cyber risk

Cyber risk analytics company CyberCube, has signed an agreement with global specialist insurer Hiscox, for the use of CyberCube's ground-breaking technology to generate better insight into potential systemic cyber risk.

"Pascal Millaire, Chief Executive Officer of CyberCube, said:"As cyber risk becomes more prevalent within the insurance market - and indeed the wider world - analytics tools like those offered by CyberCube are becoming a core part of an insurer's toolkit.

"We're delighted to be partnering with Hiscox to provide insights from our risk model to augment Hiscox's existing capabilities as a leading specialist insurer."

Cyber is an area where the potential for accumulation risk is easy to visualise and describe but challenging to size and calibrate as there have been few if any truly catastrophic market-wide losses.

Cyber risk is a major issue within the international insurance markets as risk carriers seek to identify and quantify cyber risk in both standalone cyber insurance products and individual classes of business such as property.

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