Cyber risk requires all the attention of reinsurance companies, with numerous sub-issues to face including data access, modelling complexity, and event identification, as well as legal definition, market perspectives, etc.

“CCR Group has developed its own AI web services that aim at understanding, structuring, extracting, anonymising, and controlling textual material related to insurance contents.”

“Organising the digital transformation and artificial intelligence (AI) capabilities through three main pillars—data, models and tools—allowed us to enhance our business expertise and to manage better priorities, expectations, developments and returns all along the insurance mission: ‘prevent, indemnify and post-crisis management’,” as Laurent Montador, deputy chief executive officer at CCR Group, explains.

This approach seems to be particularly adapted to the cyber risk context (specifically for data and model aspects).

“The digitisation strategy materialised by first successful AI projects related to scraping techniques, natural language processing or deep learning architectures. They have appeared as good triggers to better understand cyber risk, the related…

Read More…