Guy Carpenter, the reinsurance broking arm of Marsh & McLennan Companies, Inc., has entered into a strategic partnership with RiskGenius on the detection and qualitative analysis of silent cyber exposure.
RiskGenius is an insurtech firm that utilises artificial intelligence to evaluate emerging risks across insurance portfolios.
By working with RiskGenius, Guy Carpenter hopes to be able to assess silent cyber exposure across insurance products, conveying the results through data visualisation techniques.
The collaboration will also allow Guy Carpenter to populate RiskGenius outputs and deploy exposure signals directly into Guy Carpenter’s existing silent cyber modelling methodology.
“Silent cyber remains an existential issue across the industry,” said Erica Davis, Cyber Risk Strategy Leader at Guy Carpenter. “To address this challenge head on, companies require an effective means of qualifying and quantifying the risk of silent cyber across their portfolios.
Davis continued: “By establishing this relationship with RiskGenius, we are not only providing clients with a means of assessing their exposure to this rapidly evolving threat at scale, but also generating much deeper exposure insight that will support a greater understanding of silent cyber from the individual policy through to the industry level.”
Chris Cheatham, CEO of RiskGenius, also commented: “Through working with Guy Carpenter and its clients, our aim is to help advance the role of policy language analysis in this field by creating a unique qualitative approach fueled by our market-leading AI-backed silent cyber detection capabilities.”
“Only by working to translate the lessons available to us today into actionable intelligence at the portfolio level and on a global scale can we fully address the challenges posed by this cyber threat.”