WTW launches updated Cyber modelling tools
Global insurance broker group WTW has updated its cyber quantified model to enhance cyber risk profiling, scenario analysis plus capacities for evaluating cyber loss potential with decision support, the group has announced.
Cyber Quantified now allows organisations to interactively model network outage risk and data breach liability as well as integrate a library of key cyber risk scenarios.
The new Risk IQ platform is now said to include a new cyber risk profile feature with SWOT analysis, a modelling methodology that uses cyber scenarios to better capture the changing risk landscape and potential damages, an expanded scenario library, and an insurance tool for comparison shopping.
WTW’s head of risk & analytics Andy Smyth said: “The message from our recent D&O survey is clear; cyber is keeping global directors awake at night. Businesses up until recently haven’t had access to the tools needed to truly understand their cyber exposure and meaningfully fortify themselves. Cyber Quantified however is empowering clients to make better informed decisions and optimise their risk portfolios.”
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