KYND, a cyber risk management company, has unveiled its latest innovation: a new Exposure Management solution.
This offering is a testament to KYND’s commitment to leading the market with its advanced risk intelligence capabilities. By integrating superior aggregation risk insights and tailored, detailed cyber disaster scenarios, the solution equips insurers with the tools needed to evaluate and manage the accumulation and catastrophe exposure across their portfolios. This, in turn, facilitates more informed and profitable underwriting decisions.
The necessity for this product arises from the insurance sector’s ongoing battle with systemic risk. Insurers have been facing significant challenges, including limited capacity that fails to meet the increasing demand for cyber insurance. This situation exacerbates insurers’ accumulation risk, particularly in light of the modelling challenges prevalent among market participants. To draw additional capacity to the market and uncover new opportunities, insurance carriers are in dire need of precise insights and alternative modelling methodologies that enhance their understanding of potential losses, risk accumulation, and capital exposure.
KYND’s Exposure Management solution is specifically tailored for insurers, addressing the needs of a market that is witnessing rapid growth. The solution is delivered through an interactive and adaptive model that leverages KYND’s proprietary data on organisations’ cyber footprint and exposure. This approach moves away from traditional reliance on market statistics and assumptions, offering insurers a proactive means of managing accumulation risks within their portfolios. With KYND’s deterministic catastrophe modelling and loss projections, insurers can quickly achieve an accurate assessment of potential cyber incidents, model the impact of customizable cyber disaster scenarios, and boost capacity by improving risk and accumulation communication with providers.
Additional features of KYND’s Exposure Management solution include its focus on transparency and flexibility. Unlike the opaque ‘black box’ models often encountered in the industry, KYND offers clear insight into the data and logic underpinning its exposure analysis. This enables partners to explore actual vulnerabilities and realistic disaster scenarios in a way that promotes a thorough understanding of loss potential and supports enhanced risk management strategies.
Andy Thomas, CEO of KYND, emphasized the importance of this development: “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.”
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