21.9 C
London
Thursday, July 18, 2024

KYND Debuts Revolutionary Exposure Management Solution for Cyber Risk in the Insurance Sector

KYND Limited, a pioneer in the realm of cyber risk management, is delighted to announce the launch of its revolutionary Exposure Management solution. This innovative offering utilises KYND’s unparalleled risk intelligence, integrating premium aggregation risk insights with custom-crafted cyber disaster scenarios. It empowers insurers to more precisely gauge and mitigate the accumulation and catastrophe exposure within their portfolios, paving the way for more informed and lucrative underwriting decisions.

As insurers place increasing emphasis on systemic risk, they face the dilemma of reconciling limited capacity with the escalating demand for cyber insurance. This predicament exacerbates the accumulation risk for insurers, further complicated by existing modelling challenges within the industry. To introduce more capacity to the market and forge new pathways, insurers require enhanced insights and novel modelling methods to better apprehend potential losses, quantify risk accumulation, and ascertain their capital exposure.

KYND’s newly introduced Exposure Management is specifically engineered for insurers, aiming to fulfil the requirements of the rapidly burgeoning market. Through an interactive and adaptable framework, KYND deploys its proprietary insights into the cyber footprint and exposure of portfolio companies, veering from the conventional dependence on market statistics and assumptions. This groundbreaking method enables insurers to proactively tackle accumulation risks in their portfolios by adopting KYND’s deterministic catastrophe modelling and loss estimations. Consequently, insurers can quickly gain a precise evaluation of potential cyber incidents within their portfolio, effortlessly simulate the impact of bespoke cyber disaster scenarios, and augment capacity by fostering enhanced risk and accumulation communications with providers.

Andy Thomas, CEO of KYND, remarked: “Rather than a ‘black box’ model, we provide complete transparency into the data and logic behind our exposure analysis. By allowing partners to explore actual vulnerabilities and realistic disaster situations in a flexible way, we offer unparalleled clarity risk exposure and accumulation that facilitates a better understanding of loss potential and empowers optimised risk management strategies, ultimately supporting the creation of a more sustainable cyber insurance market. Insurance carriers urgently need new ways to understand their level of risk, and we’re delighted to say that KYND’s latest development represents a groundbreaking leap forward that combines precision, granularity, and adaptability to meet this need.”

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More Stories

Related Articles