Management Consulting
Aon
Full Credential Description
Aon faced a significant challenge in addressing the growing complexities of cyber risk for its insurance carrier clients. The increasing prevalence of internet-connected technologies has led to a heightened risk of extreme cyber events, which can result in substantial liabilities across multiple insured portfolios. Insurance carriers were seeking effective guidance on risk transfer to manage this emerging peril, which posed a threat to their underwriting processes and overall portfolio stability. To tackle these niche issues, Aon collaborated with CyberCube, a leader in cyber risk analytics, to enhance its cyber insurance analytics capabilities. By integrating CyberCubes advanced cyber risk-modeling platform into Aons CyberMetrica platform, Aon was able to provide insurers with a comprehensive suite of tools for aggregation management. This collaboration allowed Aon to offer more accurate pricing and relevant products tailored to the specific needs of their clients, thereby improving their risk assessment and management strategies. The results of this partnership were significant. Aons enhanced capabilities enabled insurance carriers to better quantify aggregation risks within their portfolios, leading to more informed underwriting decisions. Additionally, clients gained a clearer understanding of their own cyber exposures, allowing them to implement appropriate controls. This innovative approach not only positioned Aon as a leader in the evolving cyber risk landscape but also empowered its clients to navigate the complexities of cyber insurance more effectively.