Leading cyber analytics provider, CyberCube has released an updated version of Portfolio Manager (PM) – the industry’s leading cyber risk modeling platform used by re/insurers and brokers.
The new version of PM focuses on deepened modeling of two key scenario classes, cloud outage and mass malware, and also includes general data updates on company firmographics, technical dependencies and security scores.
In addition, the updated version also enhances the footprint methodology for all scenarios, which determines which companies are impacted by a catastrophic cyber attack on a Single Point of Failure (SPoF).
Originally launched in March 2018, PM allows insurers to stress test re/insurance portfolios against a range of systemic cyber-related scenarios including data breaches, global ransomware attacks, cloud outages, and financial fraud.
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, added: “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.”
Meanwhile, CyberCube recently announced a partnership Majesco to support the growing demand of cyber re/insurance within the market.