Industry Data Collection and Analysis
CyberAcuView is creating data products using aggregated and anonymized data contributions from industry participants. By analyzing cyber trends to get better visibility on attacks and the causes of loss, insurers can identify critical controls and educate policyholders on loss mitigation and prevention.
Cyber Industry Data Information Standards
There are currently no common standards for exposure and claims data for cyber insurance causing market friction between policyholders, brokers, insurers and reinsurers. CyberAcuView sees value in developing cyber data information standards that can be used by the industry to improve market efficiency and can evolve in response to the changing threat environment. CyberAcuView will urge the voluntary adoption of these open cyber data information standards to create a more competitive market, and work with leading technology providers to ensure these standards are easily adopted by all industry participants that choose to use them.
Regulator and Government Agency Collaboration
CyberAcuView will serve as a prominent industry voice for engagement with regulators and related government agencies on cyber data and systemic risk. Through its work on industry data collection and data information standards, CyberAcuView will be uniquely positioned to provide feedback and guidance in tackling issues posed by increasing cyber threats and risks to the digital economy.
Law Enforcement and Security Agency Coordination
CyberAcuView aims to strengthen relationships with law enforcement to address the increasing threats of cyber attacks including the rapid rise of ransomware. Better information on the tools, tactics and procedures of cyber actors has significant potential value in reducing the frequency and severity of attacks. CyberAcuView will act as a central focal point for cyber insurers to interact with law enforcement and provide the latest information on emerging threats to improve policyholder resilience.
Systemic Risk Evaluation
Industry participants hold different views on the possible causes and size of potential systemic cyber events, and how the industry should address them. By stimulating discussion and interaction on these topics among multiple stakeholders, CyberAcuView will help the industry to develop the most accurate and valuable understanding and approach. This may include identifying areas where the industry can work together to develop an insurance solution or a public-private partnership to provide appropriate risk mitigation and protection for society.