KYND Limited, at the forefront of cyber risk management, is thrilled to unveil its pioneering Exposure Management solution. This new offering harnesses KYND’s leading-edge risk intelligence and integrates top-tier aggregation risk insights with tailored, detailed cyber disaster scenarios. It equips insurers with the tools to more precisely assess and manage the accumulation and catastrophe exposure throughout their portfolios, leading to more informed and profitable underwriting decisions.
With systemic risk becoming a central concern for insurers, the industry faces the challenge of limited capacity failing to meet the growing demand for cyber insurance. This issue exacerbates the accumulation risk for insurers, further complicated by the existing modelling challenges within the market. To draw more capacity into the market and uncover fresh opportunities, insurance providers require more precise insights and alternative modelling methods to better comprehend potential losses, gauge risk accumulation, and assess their capital exposure.
Designed specifically for the insurance sector, KYND’s newly launched Exposure Management aims to address the needs of the fast-evolving market. Through an interactive and adaptable model, KYND leverages its proprietary data on the cyber footprint and exposure of portfolio organisations, moving away from traditional reliance on market statistics and assumptions. This novel approach enables insurers to proactively address accumulation risks in their portfolios by utilising KYND’s deterministic catastrophe modelling and loss projections. Consequently, insurers can quickly obtain an accurate evaluation of potential cyber incidents within their portfolio, effortlessly model the repercussions of customisable cyber disaster scenarios, and increase capacity by enhancing risk and accumulation communication with providers.
Andy Thomas, CEO of KYND, commented: “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.”
