Insurers Should Take Advantage of Growing Cyber Market with Available Analytics and Modeling Solutions, Says Aite-Novarica Group

New report profiles 12 solution providers that promise less intrusive and more accurate underwriting, as well as synergies with supply chain insurance programs 

Boston, December 14, 2021 — Cyber insurance adoption is growing at double-digit rates, but without a history of claims experiences (especially against an emergent risk) insurers looking to invest in this growing line of business must ensure that growth is profitable. In a new executive brief, Cyber Risk Scoring and Modeling: Overview and Prominent Providers, research and advisory firm Aite-Novarica Group provides an overview of cyber risk assessment, and also profiles 12 solution providers, including BitSight Technologies, CyberCube, Cyberwrite, Experian, Gallagher Re, Guidewire, Kovrr, RMS, SecurityScorecard, Surance.io, TCS, and Verisk. 

“It is a struggle for actuaries and underwriters to get a true picture of exposures even though insurers have been writing cyber risk coverages for some time,” said Steven Kaye, Head of Knowledge Management at Aite-Novarica Group, and co-author of the report. “Insurers can employ cyber underwriting solutions that are relatively non-intrusive and do not burden insurers and insureds while still assessing risk accurately and comprehensively.” 

A preview of the report is available online, and desk copies are available to qualified media. Please contact [email protected] or call Kaitlyn Labbe at +1.857.327.9442 for more information.

About Aite-Novarica Group:
Aite-Novarica Group is an advisory firm providing mission-critical insights on technology, regulations, strategy, and operations to hundreds of banks, insurers, payments providers, and investment firms—as well as the technology and service providers that support them. Comprising former senior technology, strategy, and operations executives as well as experienced researchers and consultants, our experts provide actionable advice to our client base, leveraging deep insights developed via our extensive network of clients and other industry contacts. Visit us on the web and connect with us on Twitter and LinkedIn.

Press Contact:
Kaitlyn Labbe
Public Relations
+1.857.327.9442
[email protected]