Oxford University to research cyber resilience

Willis Towers Watson is partnering with the University of Oxford to conduct research into the cost of equity arising from severe cyber breaches.

The Willis Research Network will engage with the University to develop research looking at three key areas of cyber security risk focusing on:

• increases in systemic risk, leading to increase in cost of equity, following severe security breaches in publicly listed companies
• the nature of cyberattack “resilience” – that is, success or failure [of an organisation] after a cyberattack
• the current risk landscape of AI-facilitated impersonation (phishing) for fraudulent purposes, and the implications this has specifically for the insurance sector.

The University of Oxford’s research facility will lead to a robust, evidence-based set of conclusions and recommendations that will be relevant to policy makers and corporations and will enhance Willis Towers Watson’s advisory services. The first piece of research is expected in 2020 with others to follow into 2021.

Peter Foster, chairman of Global FINEX Cyber and Cyber Risk Solutions, said the research project would ”enable us to provide an in-depth look into the implications of cyber security and to enhance existing solutions as well as advise our clients on how to mitigate this ongoing and ever-increasing risk factor.”