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CyberCube introduces new version of cyber risk modelling platform

CyberCube introduces new version of cyber risk modelling platform | Insurance Business UK

CyberCube introduces new version of cyber risk modelling platform

Cyber analytics provider CyberCube has released a new version of its cyber risk modelling platform.

The firm’s Portfolio Manager platform was originally released in 2018 and allows insurers to stress test reinsurance portfolios against a range of systemic cyber-related scenarios, including data breaches, cloud outages, global ransomware attacks, and financial fraud.

The latest version of the platform, Portfolio Manager v.3.0, contains new industry-sponsored threat scenarios including cloud failures, business blackouts, and contagious ransomware.

It also includes structural enhancements to the cyber catastrophe model, advanced contract loss modelling capabilities, and the ability to compare and contrast attritional and large losses impacting individual companies with catastrophic losses impacting multiple companies in an insurance portfolio.

“In the last year, we’ve seen unprecedented events including widespread increases in ransomware attacks, hugely effective email siphoning of one of the largest email hosting providers, and an incredibly sophisticated supply chain attack impacting high-profile businesses and governments around the globe,” said Aswin Kashyap (pictured), co-founder and chief product officer of CyberCube. “Modelling such unique and evolving cyber risks is a challenge for insurers, reinsurers and reinsurance brokers. We have worked with our expansive client base to develop a forward-looking view of risk informed by changes to the threat landscape through the latest edition of Portfolio Manager.”