At CyberCube's Foresight recent conference, I sat in on a discussion with Rory Egan (Senior Cyber Actuary at Munich Re), Andy Lea (Head of Commercial E&O, Cyber & Media Liability at CNA Insurance), and Jamie Pocock (Head of Guy Carpenter Cyber Analytics – International) on the value analytics can play in the cyber risk market.
The conversation included how an analog approach to evaluating cyber risk has worked historically, but there is no easy and standardized way to understand how risk changes over time. Data and analytics can help demonstrate how dynamic a risk is, and track how a risk evolves over time in a more standardized way.
Additionally, analytics will continue to play a bigger role in the future, as data increase, and become more reliable and more available. This will be especially helpful for the SME and personal lines space where there are not as many touchpoints with customers.
