22 April, 2024

KYND Introduces Groundbreaking Exposure Management for Insurers to Address Cyber Risk Accumulation

KYND Limited, at the vanguard of cyber risk management solutions, is thrilled to unveil its groundbreaking Exposure Management solution. This latest innovation draws upon KYND’s leading risk intelligence, blending unparalleled aggregation risk insights with tailored, detailed cyber disaster scenarios. It grants insurers an elevated capability to accurately assess and mitigate the accumulation and catastrophe exposure throughout their portfolios, thereby enhancing informed and profitable underwriting practices.

In an era where systemic risk is increasingly at the forefront of insurers’ concerns, the industry grapples with the challenge of a limited capacity that struggles to meet the rapidly growing demand for cyber insurance. This situation heightens insurers’ accumulation risk, further complicated by the prevalent modelling challenges within the sector. To introduce additional capacity into the market and unlock new opportunities, insurers are in dire need of more precise insights and alternative modelling methodologies to better understand potential losses, assess risk accumulation, and gauge their capital exposure.

Tailor-made for the insurance industry, KYND’s innovative Exposure Management solution is designed to address the burgeoning needs of the market effectively. Through an interactive and adaptable model, KYND utilises its proprietary, industry-leading data on the cyber footprint and exposure of portfolio organisations, steering clear of the traditional dependence on market statistics and assumptions. This unique approach allows insurers to proactively manage accumulation risks in their portfolios by leveraging KYND’s deterministic catastrophe modelling and loss projections. As a result, insurers can swiftly obtain a detailed assessment of potential cyber incidents in their portfolio, model the impact of customisable cyber disaster scenarios with ease, and expand capacity by enhancing communication on risk and accumulation with providers.

Andy Thomas, CEO of KYND, expressed: “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.”


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