Assess the risk levels of your clients prior to emitting a cyber-risk insurance policy.
How do you assess the cyber risks levels to which your clients are exposed?
The lack of actuarial data, combined with rapidly evolving technologies and cyber threats, creates numerous headaches for insurers.
The result is highly expensive insurance premiums which force businesses to forego such coverage.
- Does the industry in which your client operates affect or increase the likelihood of an incident?
- Which are the greatest cyber threats of the next twelve months?
- Which are the security measures that most greatly impact the frequency of claims?
- To what extent does the volume of personal information stored by the company influence the dollar amount of a claim?
These questions constitute but a few considerations which enable cyber-risk assessment. Obtain the risk assessment tool which factors in your clients’ security practices, the potential threats to which they are exposed and the value of their data. You will thus be better equipped to establish fair insurance premiums: sales will be easier and the perceived value of the policy will increase.
Based on the ISO/IEC 27005:2011 (Information Security Risk Management) international standard, our risk assessment method builds upon the Cybersecurity Framework of the National Institute of Standards and Technology (NIST) to propose cyber security measures and solutions suited to each business.
Our method is also adapted to the particular needs of the cyber-risk insurance industry. We thus establish risk profiles which factor in cyber-risk insurance plans currently offered on the market.
Learn more about our cyber-risk assessment tool:
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