Advisen Announces Cyber OverVue(TM)
New cyber analytics solution is used to quickly evaluate cyber loss profiles through comprehensive scoring system for benchmarking, frequency and severity.
- New York, NY (1888PressRelease) February 13, 2018 - Advisen today announced the release of Cyber OverVueTM, 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:
• improved underwriting performance and profitability,
• improved cyber risk advisory capabilities,
• the ability to demonstrate the need for cyber coverage with peer loss examples,
• improved coverage recommendations, and
• better negotiated pricing and terms based on an enriched understanding of historical frequency and severity of cyber incidents.
“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"
Learn more about Cyber OverVue or get a look first-hand by registering for our upcoming webinar.
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