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Collaboration in action: Foresight user conference takeaways

CyberCube’s 5th Foresight user conference reflects how the cyber insurance community is developing solutions for a new risk landscape.

  • 3 Minute Read

Collaboration is a tricky buzzword in cyber risk and insurance circles. It is often misinterpreted and ‘dumbed-down’ to just being a euphemism for a meeting, in some cases!

At CyberCube, we interpret the word in a very practical way. To us, collaboration means: 

  • Getting the best minds in a room 
  • Wrestling with a shared challenge or objective 
  • Applying those minds to creating a practical solution
  • Delivering and testing the solution with the group until it’s fit for purpose.

I’d like to think that we just saw a pure example of collaboration in practice last week, as CyberCube hosted its fifth Foresight user conference.

We gathered a ‘room’ full of cyber risk and insurance professionals, along with regulators, ratings agencies and industry associations, to unveil some of the new solutions that we have developed in response to an evolving risk landscape.

The title for this Foresight conference was ‘Developing Solutions for a New Risk Landscape’. The risk landscape has changed significantly in the past year, not least with a spike in ransomware and the work-from-home challenges of the global pandemic. 

As a result of these new risk factors, the industry does need new solutions to deal with this changing risk landscape. At CyberCube we don't claim to have all the answers, but we do aspire to be an important enabler that brings this community together to facilitate addressing these issues.

At CyberCube our solutions are also more multi-faceted than they have ever been before. Firstly, we continue to develop the world's leading software-as-a-service applications in cyber risk for insurance institutions. We’ve made one of the largest dedicated investments since our incubation period at Symantec to support new data and analytics for this marketplace and from a team perspective, expect to continue to grow staff numbers significantly this year, to further support our clients and develop our products.

We shared with our community the expansion of our solutions suite, to offer a set of capabilities that they’ve been asking for over the course of the last year. We’re delighted to launch our technology services which allow efficient direct access to curated data set models and signals in a transparent way. 

Our clients have been requesting access to the deep domain expertise within our talented team, to enable them to drive tailored insights from our models. Darren Thomson, CyberCube’s Head of Cyber Security Strategy, delivered a threat briefing that show-cased our own in-house cyber expertise. It provided the audience with just-in-time insight on cyber events and particularly focused on sources of potential cyber aggregation.

This fast-moving cyber threat landscape is a once-in-a-century opportunity for P&C insurance to become more relevant than it's ever been. Cyber is already the number one risk on the minds of many enterprises and unless we stop connecting the global economy to the Internet, cyber risk will continue to grow until perhaps it becomes the defining risk of the P&C insurance industry.

It was uplifting to spend time in the company of such a broad range of stakeholders who are shaping the insurance industry’s response to this new digital society. At CyberCube we are here to truly collaborate and support the industry, as the preeminent partner to the cyber insurance industry, powering your profitable growth.

I’m very much looking forward to continuing our collaboration at the next Foresight event - scheduled for May 13. We hope to see you there!

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