KYND introduces next level Exposure Management for insurers to tackle cyber accumulation risk

KYND Limited, a leader in cyber risk management, is excited to announce an innovative new Exposure Management solution.

London, England, United Kingdom - February 29, 2024 —

KYND Limited, a leader in cyber risk management, is excited to announce an innovative new Exposure Management solution. Powered by KYND's market-leading risk intelligence and combining best-in-class aggregation risk insights with bespoke, granular cyber disaster scenarios, it enables insurers to more accurately evaluate and manage the accumulation and catastrophe exposure across their portfolios to drive better informed, profitable underwriting decisions. 

As systemic risk becomes a central concern for insurers, the sector has been grappling with the challenge of limited capacity struggling to align with the burgeoning demand for cyber insurance. This pressure compounds insurers’ accumulation risk, especially given the existing modelling challenges experienced by market participants. To attract more capacity to the market and open up new opportunities, insurance carriers need more accurate insights and alternative modelling techniques to better understand potential losses, assess the accumulation of risk, and evaluate their capital exposure. 

KYND’s newly launched Exposure Management has been designed with insurers in mind to successfully meet the needs of the rapidly growing market. Delivered via an interactive and adaptive model, KYND harnesses its industry leading, proprietary data on portfolio organisations' cyber footprint and exposure, steering away from reliance on market statistics and assumptions. This innovative approach empowers insurers to proactively manage accumulation risks within their portfolios by leveraging KYND's deterministic catastrophe modelling and loss projections. As a result, insurers can swiftly attain an accurate assessment of potential cyber incidents in their portfolio, seamlessly model the impact of customisable cyber disaster scenarios, and enhance capacity through improved risk and accumulation communication with providers.

Andy Thomas, CEO of KYND, said: “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.”

Contact Info:
Name: Melanie HayesEmail: Send Email
Organization: KYND
Website: https://www.kynd.io/

Source: PR Fire

Release ID: 89122933

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