Cyber Insurance risk: actuarial modeling

Scientific project

With the rise of digital economy, cyber-risk has become a major concern for all customer segments, and insurers are intended to play a crucial role in providing financial protection. In the frame of building insurance solutions to the customers (from retail, to corporate companies through SMEs), the objective of the IDR is to develop mathematical models for Cyber Insurance risk.

The threat of cyber risk is rapidly growing and evolving, making it one of the most important social and economic risks. However, the current assessment of cyber vulnerabilities for individuals, companies and administrations is largely inadequate and inappropriately tailored to the specificities of cyber risk. Therefore, strengthening the knowledge and understanding of this risk is critical in order

1. to measure and quantify the exposure structure and
2. to assess the vulnerability of the insured using statistical models.