Marsh launches cyber self-assessment tool

Marsh launches cyber self-assessment tool | Insurance Business

Marsh launches cyber self-assessment tool

Marsh has announced the launch of a new online cyber self-assessment tool that will provide clients with a robust cybersecurity program diagnostic and serve as a single application for cyber insurance.

The new tool uses information on organizational cybersecurity controls, technology and people to identify both strengths and potential areas for concern for underwriters, Marsh said. This will help Marsh clients address issues prior to underwriting. The assessment is combined with company-specific threat analyses and loss-quantification inputs to provide clients with a comprehensive look at their cyber risk profile.

The tool, housed in a secure web platform, streamlines clients’ cyber insurance application process by:

  • Allowing for simultaneous contribution by multiple stakeholders.
  • Serving as a single submission to multiple cyber insurance insurers, eliminating the inefficiency of multiple carrier applications.

“In today’s fast-evolving cyber risk landscape, firms want to be able to gain greater insight into their cybersecurity preparedness,” said Thomas Reagan, Marsh’s US cyber practice leader. “Marsh’s enhanced online cyber self-assessment provides clients a comprehensive view of their cybersecurity program maturity, coupled with a streamlined, easy-to-use cyber insurance application process.”

The online cyber self-assessment tool is currently available to Marsh’s US clients. A global rollout is planned for this year.