"Decrypt" – A holistic cyber reinsurance solution
With increasing digitalisation, automation and interconnectivity, the risk landscape is rapidly evolving, and giving rise to exposures not traditionally considered by the insurance industry.
Insurers face a number of challenges on the path to better cyber risk management:
- Traditional policy wordings ill-equipped to definitively handle evolving cyber perils
- Insurance data systems unable to capture relevant data required to effectively manage portfolio cyber risk
- Uncertainty as to how cyber losses could accumulate across insurance portfolios
- Restricted reinsurance capacity due to lack of transparency and significant model uncertainty
Meanwhile, The combination of greater regulatory scrutiny, enhanced rating agency focus and increased cyber threat environment will have immediate capital implications for insurers.
The Decrypt Solution
- We provide you with wordings expertise to accurately identify where coverage is being given silently or affirmatively, and where it is being excluded partially or entirely.
- We help empower your C-suite and exposure management teams with a strong understanding of exposure within individual portfolios as well as the overall balance sheet impact of cyber events.
- Capsicum Re and Swiss Re leverage their experience and market leading 3rd party and in-house models to provide you best-in-class portfolio cyber accumulation modelling.
- Decrypt’s approach to accumulation and portfolio evaluation promotes a more transparent view of the underlying risk, thereby encouraging the development of bespoke reinsurance solutions that centre around your actual needs.