Kovrr collaborates with Aon to improve cyber risk quantification for its clients

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Kovrr announced that it is working with Aon to provide cyber risk modeling (re) assurance solutions that meet the growing demand from Aon customers for data-driven information on cyber exposures. The collaboration provides Aon with access to Kovrr’s impact-based modeling framework as well as Kovrr’s portfolio exposure management solution to analyze insurance portfolios and reinsurance treaties.

The tools also help improve the quantification of cyber risk in Aon’s capital models, offering direct integration into the company’s ReMetrica capital modeling software.

“The cyber insurance industry is facing a difficult period characterized by generally high rate increases and ransomware claims,” said Jon Laux, head of cyber analysis at Aon’s Reinsurance Solutions. “A robust impact-based modeling framework is essential to assess future events. We are therefore delighted to partner with Kovrr and leverage their exclusive view of cyber risk within our dynamic financial analysis (DFA) tool ReMetrica with the aim of helping our clients manage volatility and take better business decisions.

Kovrr’s portfolio exposure management solution enables (re) insurers to better assess pricing strategy, meet compliance requirements, validate or modify underwriting guidelines, inform transfer strategies risk and free up capital by improving the management of reserves. It is based on an in-depth analysis of the characteristics of historical cyber risk events, including triggers, spread and impact.

“We are excited to partner with a market leader like Aon and tackle the growing importance of cyber risk accrual management and pricing,” said Yakir Golan, CEO of Kovrr. “Our unique approach to cyber risk modeling provides Aon with nuanced and sophisticated information that will improve their services to their clients and help them navigate this challenging cyber landscape. “


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