KYND Launches Advanced Exposure Management Tool for Enhanced Cyber Risk Control in Insurance

Last Updated on: 1st March 2024, 07:36 am

KYND Limited, a cyber risk management trailblazer, is proud to introduce its advanced Exposure Management solution. This groundbreaking tool leverages KYND’s unrivalled risk intelligence, marrying superior aggregation risk insights with custom, in-depth cyber disaster scenarios. It provides insurers with an enhanced ability to accurately assess and control the accumulation and catastrophe exposure across their portfolios, facilitating more informed and profitable underwriting decisions.

As the insurance sector increasingly focuses on systemic risk, it confronts the challenge of aligning limited capacity with the surging demand for cyber insurance. This dilemma intensifies insurers’ accumulation risk, particularly in light of the modelling challenges faced by industry participants. To draw additional capacity into the market and explore new avenues, insurers need deeper insights and alternative modelling approaches to better understand potential losses, measure risk accumulation, and evaluate their capital exposure.

KYND’s latest Exposure Management solution is tailor-made for insurers, designed to cater to the demands of the swiftly expanding market. Utilising an interactive and flexible model, KYND capitalises on its proprietary data concerning the cyber footprint and exposure of portfolio organisations, shifting away from the traditional reliance on market statistics and assumptions. This innovative strategy allows insurers to actively manage accumulation risks within their portfolios by applying KYND’s deterministic catastrophe modelling and loss projections. As a result, insurers can promptly achieve a precise understanding of potential cyber incidents in their portfolio, effortlessly simulate the effects of tailor-made cyber disaster scenarios, and bolster capacity by improving risk and accumulation dialogue with providers.

Andy Thomas, CEO of KYND, stated: “Rather than a ‘black box’ model, we provide complete transparency into the data and logic behind our exposure analysis. By allowing partners to explore actual vulnerabilities and realistic disaster situations in a flexible way, we offer unparalleled clarity risk exposure and accumulation that facilitates a better understanding of loss potential and empowers optimised risk management strategies, ultimately supporting the creation of a more sustainable cyber insurance market. Insurance carriers urgently need new ways to understand their level of risk, and we’re delighted to say that KYND’s latest development represents a groundbreaking leap forward that combines precision, granularity, and adaptability to meet this need.”

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