AIG Launches New Cyber Model That Scores Client Cyber Risk
AIG has announced a new cyber benchmarking model that quantifies and scores client cyber risk. The AIG model evaluates a client’s cyber security maturity against 10 common attack patterns...
...across 11 commonly used technology devices. The model incorporates critical security data, such as current threat intelligence from multiple sources, effectiveness of an organization’s cyber controls, potential impact of a cyber breach on an organization, and insights gained from the thousands of cyber claims handled by AIG.
AIG cyber clients, who provide the required information, can receive a report detailing security scores, peer benchmarking, and key risk mitigation controls to help quantify cyber risk.
“We developed the model based on historical insights and patterns of how companies experience cyber breaches – the points of entry and the types of attacks and vulnerabilities seen in the vast majority of cyber breach scenarios,” says Tracie Grella, Head of Cyber Risk Insurance, AIG. “Companies have been demanding a way to benchmark their cyber maturity against these known cyber risks to quantify what they are up against and where they stand.”
To further support its model, AIG is launching CyberMatics, a patent pending security approach with leading AI cyber security companies CrowdStrike and Darktrace. CyberMatics verifies inputs into AIG’s model from clients’ cyber security tools. This provides greater confidence in underwriting information, and ultimately allows for better tailored terms and conditions in cyber insurance policies.
“As an insurer, we gain a better understanding of the level of risk we are taking on with each client so we can react accordingly,” said Ms. Grella. “Our new model combined with CyberMatics can help our clients make informed and quantifiable decisions about their preparedness for cyber security risk events and insurance cover.”
AIG’s Cyber Risk Consultants, part of AIG Client Risk Solutions, can help clients act on risk scoring and evaluate data for system vulnerabilities and negative risk trends.
CrowdStrike is the leader in cloud-delivered endpoint protection. Leveraging artificial intelligence (AI), the CrowdStrike Falcon® platform offers instant visibility and protection across the enterprise and prevents attacks on endpoints on or off the network. CrowdStrike Falcon deploys in minutes to deliver actionable intelligence and real-time protection from Day One. It seamlessly unifies next-generation AV with best-in-class endpoint detection and response, backed by 24/7 managed hunting. Its cloud infrastructure and single-agent architecture take away complexity and add scalability, manageability, and speed.
Darktrace is the world’s leading machine learning company for cyber security. Created by mathematicians from the University of Cambridge, the Enterprise Immune System uses AI algorithms to automatically detect and take action against cyber-threats within all types of networks, including physical, cloud and virtualized networks, as well as IoT and industrial control systems. A self-configuring platform, Darktrace requires no prior set-up, identifying advanced threats in real time, including zero-days, insiders and stealthy, silent attackers. Headquartered in San Francisco and Cambridge, UK, Darktrace has 30 offices worldwide.
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