Proprietary Cyber Catastrophe Modeling Framework
Kovrr has developed a proprietary cyber modeling framework based on an analysis of the impact of historical cyber events. The framework is used to generate an event catalog that represents past events and probabilistic future catastrophic events with different levels of severity. Loss simulation is generated based on Kovrr’s catalog and takes into account tail events ranging from cloud provider outage to wide-scale ransomware attacks.
Kovrr enables (re)insurers to model and assess their catastrophic cyber exposure based on different levels of data granularity input.
Quantifying Exposure for a Specific Event
(Re)insurers can easily assess the cyber exposure of any type of (re)insurance’s book using a list of predefined scenarios, both historical and synthetic. For example, using Kovrr, a reinsurer can quantify the exposure of its property book to a large scale business interruption event such as NotPetya ransomware attack and the Mirai IoT botnet distributed denial of service attack.