In the escalating battle against cybercrime, insurers need cutting-edge tools to accurately evaluate constantly morphing digital risks. Cyence has answered the call with the release of Model 6, our most advanced cyber risk modeling platform yet.
Model 6 represents a giant leap forward in capabilities to help insurers outpace today’s most sinister threats. Developed over 18 months by our team of PhD-level data scientists and actuaries, Model 6 provides:
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Next-generation loss distribution modeling to calculate comprehensive probabilistic cyber risk profiles.
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Validation against one of the world’s largest sets of historical cyber losses across industries.
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Unsurpassed precision in determining cyber policy limits, premiums, and accumulations.
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Daily updated enrichment of exposure data for maximized underwriting intelligence.
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Seamless integration across the entire underwriting workflow.
With cyber risks evolving at breakneck speed, insurers require high-frequency modeling based on the latest threats. As reported by some media outlets, advanced modeling platforms built on accurate and current data are critical for insurance risk assessment. Model 6 delivers the most up-to-date capabilities.
Key benefits include:
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Model 6 allows insurers to understand the threat landscape better by incorporating new and updated cyber risk data from more than 900 sources, including the latest incident and claims data.
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Insurers can improve underwriting decisions as Model 6 has retooled event models to more accurately assess today's current risk of ransomware attacks, data breaches, business interruptions and their modeled losses.
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Insurers can now proactively manage portfolios by leveraging Model 6's projections for loss ratios, expected AAL, exceedance probability curves, and other insights that reflect today's most pressing cyber threats.
By harnessing best-in-class data science and actuarial rigor, Model 6 empowers insurers with superior risk insights and confidence to maximize profits, customizable to each insurer’s risk appetite and business goals.
Stay ahead of the pack with the most advanced modeling techniques available. To learn more about confronting emerging cyber threats with Cyence Model 6, schedule a demo today.
Cyence Model 6 is part of the Hakuba release. Learn more by watching the Cyence Model 6 Feature Video and Hakuba Release Highlights Video (slide 27). The Hakuba Release Webpage also has the full details of the release, such as additional new features, videos, media announcements.