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CHICAGO: Cyber leaders to share strategies on developing sustainable cyber coverage through advanced predictive modelling, July 9th, 11am ET
The recent and rapid growth in cyber-crime has undoubtedly presented new opportunities for insurance carriers where coverage hasn’t previously existed; PwC predictthe cyber insurance sector to grow to $7.5 billion by the end of this decade, up from $2.5 billion in 2018. At present, and with the sector in its formative years, carriers compete by offering expanding cyber coverage without charging additional premiums, at great risk to themselves.
In an unpredictable and fast-changing environment, and with the capacities and tactics of cyber criminals growing ever-more sophisticated, quantifying (and therefore, pricing) cyber risks is proving difficult. This is creating significant potential risks for insurance carriers who seek to provide coverage. However, as advanced analytics and comprehension of the risks mature, a growing number of carriers are leveraging predictive modelling, creating pricing models that aggregate their risk exposure, leading to sustainable and viable cyber coverage.
Insurance Nexus is joined byPaul Winston, Chief Operating Officer, Insurance Thought Leadership as a moderator, Evan Fenaroli, Cyber Product Manager, Philadelphia Insurance Companies and Sean Clifford,Senior Underwriter, Professional Liability Team, Berkshire Hathaway, to discuss how predictive modelling aids carriers in pricing cyber policies while satisfying customer coverage needs, creating a bespoke and sustainable product.
Join the webinar to get insights on the following:
Stay competitive while maintaining a sustainable stance:Find out how to offer the coverage of competitors at an adequate price, pleasing customers while maintaining a sustainable book.
Build and utilize loss data effectively:Determine how to build internal loss data and utilize it to price and quantify risk, providing ultimate cyber protection for clients.
Satisfy customer demands for a full, modern coverage: Explore how to anticipate exposure and write attractive products by predicting future events with the help of predictive modelling.
Discover the future evolution of pricing models:Listen to how carriers view evolution of current and future pricing models as the risk landscape changes.
This webinar is being run in association with Insurance Nexus’ upcoming Cyber Insurance USA Summit 2019. The conference, which will welcome over 150 senior executives from across cyber, product, claims and business teams, will take place on November 4th and 5th, 2019, in Chicago, Illinois. For more information about this and other Insurance Nexus events, please visit the website: https://events.insurancenexus.com/cyberusa/or contact Kamilla Rakhmat directly.
Kamilla Rakhmat | Project Director
T: +44(0)20 7375 7523