Optimising portfolios through evidence based risk assessment in cyber insurance
Cybercrime has become a bigger threat to society than illicit drug dealing globally. Despite robust cyber security packages, hackers continue to infiltrate leading institutions stealing vital data. Companies are purchasing cyber insurance to protect them against the cost of these inevitable losses. However, an inability to accurately assess cyber risk is making these policies expensive for clients with low yields for insurers.
At BFC Analytics we are multiplying knowledge from biology, finance and cyber to create the first platform enabling insurance companies to accurately quantify cyber risk exposure and monitor risk spread across cyber portfolios. Our research in the London market, the heart of international specialty insurance, has confirmed that insurance companies are ill prepared for the emergence of cyber insurance.
Our company boasts academic founders who have excelled independently and now combine their skills in order to disrupt the insurance industry.