New Update: CyberCube Enhances Portfolio Manager Features
In a significant leap for the cyber insurance industry, CyberCube, a leading provider of cyber analytics, has unveiled an updated version of its Portfolio Manager. This latest iteration, Version 6, marks a major milestone in global cyber risk modeling, with a focus on granular geographic variation and a new emphasis on active risk mitigation.
Global Cyber Insurance Market Modeling
CyberCube's Portfolio Manager v6 reflects the evolution of the cyber insurance market from a primarily U.S.-focused industry to a truly global one. The model now supports international exposures, providing a broader and more realistic assessment of cyber risks beyond the U.S. context.
Geographic Variation Modeling
The update explicitly factors in geographic variation in critical risk drivers such as cloud service provider outages, recognizing differences in origins and spread patterns of global ransomware and wiper malware attacks. This enhancement allows users to account for location-specific risk characteristics within portfolios.
Mitigation of Catastrophe Risk
A new focus in v6 is on mitigation—evaluating how security controls and protective measures (aligned with NIST and CIS frameworks) influence the reduction of impacts from large-scale cyber events. This recognizes the importance of preventive measures in catastrophes, an area that previously received less attention compared to resilience against smaller, attritional losses. The model now incorporates companies’ security scores more extensively and introduces new underwriting risk modifiers tied to security control frameworks.
Enhanced Scenario Modeling
The updated Portfolio Manager is specifically designed to enhance the modeling of two key scenario classes: cloud outage and mass malware. This improvement equips insurers, reinsurance brokers, and reinsurers with more accurate and detailed risk assessments.
Collaborative Efforts for Enhanced Predictive Capabilities
CyberCube extensively collaborated with internal and external cyber experts to enhance the model’s predictive capabilities, emphasizing preparation for catastrophic events and smoother recovery scenarios.
Industry Adoption and Leadership
Approximately 75% of the top 40 U.S. and European cyber insurance carriers use CyberCube's analytics, underscoring the industry's trust in these updated capabilities. The Portfolio Manager v6 also continues CyberCube’s leadership role in cyber catastrophe bond structuring, supporting a sophisticated risk transfer market.
Trium Cyber's Integration
Trium Cyber, an authorized service company for Syndicate 1322 at Lloyd's, is now using CyberCube's cyber risk analytics platform, Portfolio Manager. This collaboration underscores the growing importance of data-driven insights in the cyber insurance sector.
In summary, CyberCube's Portfolio Manager v6 represents a major step forward by modeling cyber risk globally with granular geographic variation and a new emphasis on active risk mitigation, aligning underwriting insights with evolving cyber insurance market realities.
- CyberCube's Portfolio Manager v6 now supports international exposures, allowing a broader and more realistic assessment of cyber risks beyond the U.S. context, reflecting the evolution of the global cyber insurance market.
- The new focus in v6 is on mitigation, evaluating the influence of security controls and protective measures on the reduction of impacts from large-scale cyber events, recognizing the importance of preventive measures in catastrophes.
- Trium Cyber, an authorized service company for Syndicate 1322 at Lloyd's, is now using CyberCube's cyber risk analytics platform, Portfolio Manager, underscoring the growing importance of data-driven insights in the cyber insurance sector.
