Multi-line global insurer to use cloud-native economic cyber risk modeling solution built to help insurers quantify cyber risk exposures
Guidewire Software, Inc. (NYSE: GWRE), the provider of the industry platform Property and Casualty (P&C) insurers rely upon, today announced that Zurich Insurance Group (Zurich) has selected Guidewire Cyence™ Risk Analytics (Cyence) to leverage the cyber risk knowledge and insights the solution provides to help the company prospect, underwrite, and price risks.
Zurich will roll out Cyence globally with an emphasis on enhanced analytics and intelligence for risk selection.
Unprecedented technological advances of the 21st century have shifted the nature of risk across the P&C insurance industry. Ever-evolving cyber risks present unique challenges including limited availability of traditional actuarial data needed to model these risks. Cyence combines economic modeling, cybersecurity, machine learning and Internet scale data collection to help risk takers assess the financial impact of cyber risk.
“After conducting a thorough search, we found that the capabilities of Guidewire Cyence Risk Analytics, combined with Zurich’s risk insights, will…
