Increasingly, organizations are also relying on their insurers for new or extended cyber insurance products and services. Indeed, governments are relying on insurers to proactively help mitigate the growing exposure to cyber risk due to the high threat and national impact of cyber breaches.
Throughout the history of insurance, carriers have relied on third-party experts to help them understand the risks associated with insuring something.
CGI’s global cybersecurity practice, borne out of our deep experience in security services for commercial, government and defense clients, provides a broad portfolio of cyber services to organizations in all industries. While these services can protect insurance organizations themselves from cyber threats, insurers are increasingly partnering with us to help manage the cyber risks of their policy holders.
Cyber insurance is still an emerging market, with significant variation in coverages and premiums from insurer to insurer. At the heart of this variation are differences among insurers in their ability to accurately assess policyholders’ cyber risks and to respond appropriately to claims.
Our consulting and risk assessment services help insurers to identify, assess and score the risks they are thinking of underwriting. These services include:
- Cyber risk self-assessment tool from CGI and Oceanwide, a leading cloud-based core insurance systems software company
- Pre-defined bronze, silver and gold cyber risk assessment consulting services packages that are tuned to the size of the potential policyholder
- Managed security services during the effective dates of the cyber insurance policy
- Cyber risk education training for insurers and policyholders
- Security policy and program development