Carriers need to merge data to reap cyber insurance benefits says RAND Corporation

cyber insurance, data

Combining application and claims data can help insurers identify the best security controls for their policyholders

Insurers need to combine disparate application and claims data for cyber insurance policies in order to identify the most suitable security measures that could benefit their policyholders and improve organisational resilience, said global non-profit policy think tank RAND Corporation.

Delivering a keynote presentation as part of modelling and risk management firm RMS’s two-day virtual Cyber Summit event last week, Sasha Romanoksy, senior policy researcher at RAND Corporation, explained that insurers are missing a simple trick by not using available data sources to pinpoint cyber security advice that can be fed back to policyholders.

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