Aon Selects Kovrr to Enhance Cyber Risk Quantification and Aggregation Management for its Clients
- Stocks tumble on new coronavirus variant fear
- Moderna (MRNA) Shares Rally 11% on 'Nu' Concerns, Analyst Sees mRNA Technology Adapting Much Quicker to New COVID Variant
- DiDi (DIDI) Stock Falls on Report China Seeks Delisting From US Amid Data Security Concerns
- Apple (AAPL) on Pace to Sell Over 10 Million iPhones for Black Friday - Wedbush
- Buy Tech Winners on Variant Fears - Wedbush
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Allows Aon to Factor Cyber Risk Quantification and Analyze Reinsurance Treaties Fully Integrated Into its ReMetrica Capital Modeling Software
TEL AVIV, Israel--(BUSINESS WIRE)-- Kovrr, a provider of cyber risk modeling and quantification for global enterprises and (re)insurers, today announced it is collaborating with Aon plc (NYSE: AON), a leading global professional services firm, to provide cyber risk modeling (re)insurance solutions that support growing demand from Aon clients for data-driven insights on cyber exposures. The collaboration allows Aon to access Kovrr's impact-based modeling framework as well as Kovrr’s Portfolio Exposure Management solution to analyze insurance portfolios and reinsurance treaties. The tools also help to improve cyber risk quantification within Aon’s capital models, offering direct integration to the firm’s ReMetrica capital modeling software.
“The cyber insurance sector faces a challenging time, characterised by generally high rate increases and ransomware claims,” said Jon Laux, Head of Cyber Analytics at Aon’s Reinsurance Solutions. “A robust impact-based modeling framework is key for assessing future events, and so we are excited to partner with Kovrr and leverage its proprietary view of cyber risk within our ReMetrica dynamic financial analysis (DFA) tool with the aim of helping our clients manage volatility and make better business decisions.”
Kovrr’s portfolio exposure management solution empowers (re)insurers to better assess pricing strategy, meet compliance requirements, validate or modify underwriting guidelines, inform risk transfer strategies and free up capital by improving reserve management. It is based on an extensive analysis of the characteristics of historical cyber risk events including triggers, propagation and impact.
“We are thrilled to join forces with a market leader like Aon and tackle the growing importance of managing cyber risk accumulations and pricing,” said Yakir Golan, CEO of Kovrr. “Our unique approach to cyber risk modeling provides Aon with nuanced and sophisticated insights that will enhance their services to their clients and help them navigate this challenging cyber landscape.”
Kovrr's cyber risk modeling platform delivers global enterprises and (re)insurers transparent data-driven insights into their cyber risk exposures. The Kovrr platform is designed to help chief risk officers, chief information security officers, underwriters, exposure managers, risk professionals and catastrophe modelers understand, financially quantify and manage cyber risk by utilizing AI-powered risk models. For more information, please visit www.kovrr.com or follow us on Twitter or LinkedIn.
Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Our colleagues provide our clients in over 120 countries with advice and solutions that give them the clarity and confidence to make better decisions to protect and grow their business.
Fusion PR (for Kovrr)
T: +972 52 847 5718
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- China Eastern Airlines Holds Online Exchange Between Chinese, Italian Gen-Zers
- Black Friday & Cyber Monday Garmin Watch Deals 2021: Top Garmin Venu, fenix, vivoactive & More Savings Identified by Consumer Walk
- Black Friday & Cyber Monday Samsung Galaxy Watch Deals 2021: Top Galaxy Watch 3, 4 & Watch Active 2 Savings Shared by Deal Tomato
Create E-mail Alert Related CategoriesBusiness Wire, Press Releases
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!