Aon Implements Guidewire Cyence to Mitigate Cyber Accumulation Risk and Support Cyber Sector Growth
06 Décembre 2021 - 02:55PM
Business Wire
Aon plc (NYSE:AON) and Guidewire (NYSE: GWRE) announced that Aon
is implementing Guidewire’s Cyence Risk Analytics risk selection
and accumulation management products to help clients better
quantify their risks and underwrite cyber insurance with increased
confidence.
A series of high-profile events in 2021 has reinforced
re/insurers’ concerns about the systemic potential of cyber
attacks, and the rapid rise of ransomware events has pushed
re/insurers to reassess rates, terms and conditions, and
underwriting standards. In this context, the industry requires
innovation – both in risk assessment tools and aggregation
methodologies – to support the development of cyber capacity with a
goal of long-term, stable growth.
Through leveraging Guidewire’s extensive cyber data listening
and modeling collection capabilities, Aon will be able to more
effectively model client portfolios and develop new solutions that
directly address specific needs around underwriting and reinsuring
cyber risk, while helping to mitigate their key exposures,
including cyber accumulation and ripple effects – such as business
interruption, higher premiums, and new legislation.
Jon Laux, head of cyber analytics for Aon’s Reinsurance
Solutions, said: “The risk of ransomware and other types of cyber
attacks has risen dramatically, and so we are augmenting our
capabilities to bring even more timely and actionable insights to
our clients. In this regard, Guidewire Cyence provides us with
advanced analytical solutions to measure the financial impact of
cyber risk, mitigate current and future incident trends, and help
clients make better decisions around pricing, risk selection,
aggregation, and management.”
“We admire Aon’s use of Cyence to further its work to help
clients reduce volatility and build more resilient businesses,
governments, and communities,” said Paul Mang, chief innovation
officer, Guidewire Software. “We are pleased by their vote of
confidence in our cyber capabilities and look forward to infusing
data analytics to help Aon’s clients navigate the volatility in a
rapidly changing cyber insurance and reinsurance market.”
About Aon
Aon plc (NYSE:AON) is a leading global professional services
firm providing a broad range of risk, retirement and health
solutions. Our 50,000 colleagues in 120 countries empower results
for clients by using proprietary data and analytics to deliver
insights that reduce volatility and improve performance.
Aon announced in May 2018 it will retire the business unit
brands of Aon Benfield and Aon Risk Solutions, which follows the
retirement of the Aon Hewitt business unit brand in 2017. This move
was designed to increase the rate of innovation across the firm and
make it easier for colleagues to work together to bring the best of
Aon to clients. Aon has five specific global solution lines:
Commercial Risk Solutions, Reinsurance Solutions, Retirement
Solutions, Health Solutions and Data & Analytic Services.
Follow Aon on Twitter: https://twitter.com/Aon_plc
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About Guidewire Software
Guidewire is the platform P&C insurers trust to engage,
innovate, and grow efficiently. We combine digital, core,
analytics, and AI to deliver our platform as a cloud service. More
than 450 insurers, from new ventures to the largest and most
complex in the world, run on Guidewire.
As a partner to our customers, we continually evolve to enable
their success. We are proud of our unparalleled implementation
track record, with 1,000+ successful projects, supported by the
largest R&D team and partner ecosystem in the industry. Our
marketplace provides hundreds of applications that accelerate
integration, localization, and innovation.
For more information, please visit www.guidewire.com and follow
us on Twitter: @Guidewire_PandC.
Contact:
NOTE: For information about Guidewire’s trademarks, visit
https://www.guidewire.com/legal-notices.
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version on businesswire.com: https://www.businesswire.com/news/home/20211206005020/en/
Diana Stott Director, Communications Guidewire Software, Inc. +1
650-781-9955 dstott@guidewire.com
Alexandra Lewis Head of Marketing and Communications, Data and
Analytic Services International Head of Marketing and
Communications, Reinsurance Solutions Aon +44 20 7086 0541
alexandra.lewis@aon.com
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