Using AI to map ‘silent cyber’ exposures

Reinsurance broker Guy Carpenter has announced it is partnering with RiskGenius to improve the detection and qualitative analysis of silent cyber exposure across various lines of business.

The aim is to generate a much deeper exposure insight that will support understanding of silent cyber from the individual policy through to the industry level.

“Silent cyber remains an existential issue across the [re/insurance] industry,” said Erica Davis, cyber risk strategy leader, Guy Carpenter. “To address this challenge head on, companies require an effective means of qualifying and quantifying the risk of silent cyber across their portfolios.”

RiskGenius uses artificial intelligence (AI) to evaluate a variety of emerging risks across an entire portfolio of insurance policies, including non-affirmative cyber.

The results are conveyed through data visualisation techniques, delivering industry-level silent cyber insights and customised client portfolio-level analyses. The information will allow re/insurers to develop underwriting strategies and establish silent cyber risk roadmaps.

Chris Cheatham, CEO, RiskGenius, said: “Our aim is to help advance the role of policy language analysis in this field by creating a unique qualitative approach fuelled by our market-leading AI-backed silent cyber detection capabilities.

“Only by working to translate the lessons available to us today into actionable intelligence at the portfolio level and on a global scale can we fully address the challenges posed by this cyber threat.”