New cyber analytics solution is used to quickly evaluate cyber loss profiles through comprehensive scoring system, including benchmarking
NEW YORK— February 12, 2018 – Advisen today announced the release of Cyber OverVue, an analytics solution that leverages historical loss data – known losses – to generate loss profiles and benchmark analyses in one application to enable real-time decision-making about the cyber risk of organizations. The real-time interface allows users to evaluate a company or a peer group’s loss experience in terms of frequency and severity, as well as how their cyber program compares to their peers.
Cyber OverVue enables:
“The development of Cyber OverVue was a collaborative process with industry leaders to address a market-driven need for an analytics product based on the quantification of known losses,” commented Advisen Product Manager Aloysius Tan. “It not only enables more informed underwriting decisions, but also justification of coverage recommendations based on the historical loss experience of an organization”.
How does Cyber OverVue work?
Based upon the entry of a company or industry and revenue range, Cyber OverVue generates three scores for frequency, severity, and program benchmarking – higher scores indicate higher risk profiles. Users can then delve deeper into each of the scores to reveal the underlying details. Cyber OverVue can be used independently or in conjunction with existing predictive tools to provide another view of cyber risk.
Advisen cyber loss data is a ‘must have’ for anyone evaluating cyber risk. Cyber OverVue is the beginning of a revolution. With this innovation, clients are armed with the facts related to cyber loss experience and transparent metrics, allowing them to make more informed decisions. We are delighted to deliver data assets that are more accessible than our clients imagined possible. – Chairman & CEO Bill Keogh
Charlene A. Farside
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