CyberCube, the leading cyber analytics provider for the insurance industry, has released an updated version of Portfolio Manager (PM), the industry’s leading cyber risk modeling platform used by insurers, reinsurers and brokers.
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The new version of Portfolio Manager focuses on deepened modeling of two key scenario classes – cloud outage and mass malware – and includes general data updates on company firmographics, security scores and technical dependencies. It also enhances the “footprint” methodology for all scenarios, which determines which companies are affected by a catastrophic cyber attack on a Single Point of Failure (SPoF).
Portfolio Manager allows insurers to stress test (re)insurance portfolios against a range of systemic cyber-related scenarios including data breaches, cloud outages, global ransomware attacks and financial fraud. Originally launched in March 2018, it was the first fully probabilistic cyber catastrophe model to enable clients to drill down and identify loss drivers and areas of risk accumulation
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Cody Stumpo, Senior Director of Product Management, said: “In this difficult underwriting environment, it is ever more important to be able to distinguish cyber-riskiness. Through more granular modeling and the utilisation of a greater number of data sources, PM v4.0 more powerfully separates seemingly similar risks. CyberCube has leveraged data in ever more intelligent ways, allowing insurers and reinsurers to engineer their portfolios towards high performance and providing them with a competitive edge.”
Ashwin Kashyap, Co-founder of CyberCube and Chief Product Officer, said: “CyberCube’s Portfolio Manager enables the modeling and aggregation of complex and nuanced tail-risks. With the release of PM v4.0, CyberCube has increased the underlying rigor and analytical flexibility that PM has come to be associated with. As cyber risk continues to evolve, CyberCube has kept pace with new trends as well as solicited feedback from industry experts and client stakeholders. Our mission is to provide the premier cyber risk aggregation model that addresses our clients’ accumulation management business needs relative to model stability, continuity, and usability.”
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