Tokio Marine HCC bolsters cyber practice

Tokio Marine HCC bolsters cyber practice | Insurance Business America

Tokio Marine HCC bolsters cyber practice

Tokio Marine HCC – Cyber & Professional Lines Group has announced two key appointments. Richard Savage has been named director of cyber incident response, while Alex Bovicelli has been appointed director of threat intelligence.

The appointments are the latest move in a series of enhancements to the group’s cybersecurity capabilities, the company said. In the last year, the Cyber & Professional Lines Group has made significant investments in artificial intelligence and advanced analytics to predict threats more accurately and respond to them effectively – priorities supported by the new appointments.

In his new role, Bovicelli will focus on identifying cyber trends, current threat techniques and intrusions, while building on the group’s existing cyber risk management and underwriting strategies. He joins the company from the University of Southern California, where he served as lead cyber threat intelligence analyst.

Savage will focus on client recovery in the event of a cyber attack and will manage the group’s response in the event of a client’s cyber incident, covering everything from immediate response to the attack to crisis and media management in the aftermath. His previous experience in the field includes cyber claims management roles at Rockville Risk Management and Hartford Steam Boiler.

“Having the ability to accurately predict and effectively respond to cyber threats is at the core of what we do at Tokio Marine HCC,” said Michael Palotay, chief underwriting officer for the Cyber & Professional Lines Group. “We have been at the forefront of developing cybersecurity capabilities since this market’s earliest days, and the investment made over the last 12 months – including the appointments of Alex and Richard – show we have no intention of pulling back from that leading position.”

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The Cyber & Professional Lines Group currently generates $170 million in gross cyber premiums through more than 600,000 commercial clients across the US, the company said.

“There aren’t many players in the cyber market that have the experience, scale, financial security, and track record of constant evolution that we do at the Cyber & Professional Lines Group,” said Rich Robin, president of the Cyber & Professional Lines Group. “We have always been at the forefront in the use of emerging technology, and that will continue as we work to identify and predict the evolving threats our clients face. These new positions and other related investments will help us continue to improve the value proposition to our clients.”