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All-encompassing agenda aimed at delivering sustainable cyber insurance products

We are currently pulling together the agenda and speaker list for 2019. If you would like to be part of the research or join the speaking list, please put forward your suggestions to kamilla.rakhmat@insurancenexus.com

Understand New Risks
08:30 - 09:00
Cyber Armageddon: How to Build a More Sustainable Book to Minimise the Effects of Cyber Risk Aggregation

Discuss what a potential cyber hurricane will look like, how it will reflect on the books and how carriers can join forces to deal with such an event in the most efficient manner.

  • Learn the best method of using a combination of predictive modelling and reinsurance to manage aggregation risk exposure by using tools for risk modelling.
  • Discover how to provide internal training to insurance professionals and establish a plan of action in an event of a mass cyber breach to minimise losses.
08:30 - 09:00
Understand the Threat Posed by Hackers to Produce Most Up-to-Date Coverage

Insure your clients against continuously evolving threats hackers pose by learning how to keep up with their unpredictable exploits to create most up-to-date policies for ultimate customer coverage.

  • Understand the evolving threats by learning how to continuously monitor industry trends and implement modelling processes.
  • Work alongside third parties to create a detailed picture of risk- external attacks, threats, assess security to gain new techniques and skills to stay abreast with what cyber criminals are doing.
  • Learn how to entice experienced cyber underwriters to work for you and to train current underwriters in cyber underwriting practices.
08:30 - 09:00
Gather and Interpreting Data to Create a Rich Database for Cyber Modelling

Data is key to understanding cyber risk aggregation; learn to gather and interpret data in-house and use solution providers to aid in modelling risk aggregation to decrease your risk exposure.

  • Use scenario-based modelling to anticipate potential losses and to underwrite prospective coverage grants and perils to satisfy customer needs.
  • Learn how to use solution tools to look at individual risk and understand where your portfolio fits from the underwriting perspective. Utilize an element-based scoring and criteria to create a quick and efficient scoring process.
  • Weigh up the merits of solving the data gap from a distribution and behavioural perspective or from historical data and its correlation to breaches perspective. Discuss how to combine both methods to create a richer database to properly address this marketplace.

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Full speaker list • Full conference agenda • Audience breakdown

Master Pricing and Coverage
08:30 - 09:00
Define Cyber: What Should the Policy Cover? Minimise Losses by Reducing Silent Cyber Exposure to the Maximum.

Define as an industry what cyber insurance policies should cover and assess the creeping exposures by creation of PC&C to take charge of vast losses silent cyber poses.

  • Define what the cyber insurance policy should and should not cover- ransomware, business interruption etc.
  • Minimize silent cyber exposure by understanding and tracking your overall exposure across lines through increasing communication between P&C and cyber lines.
  • Manage your exposures through clear-cut policy wordings.
08:30 - 09:00
Resolve the Broadening Coverage Crisis to Build a Sustainable Book

Address the issue of expanding coverage in the soft market, in which carriers are taking on a much more significant risk without charging additional premium.

  • Learn how to please your customers while decreasing your risk and managing a sustainable book. 
  • Learn how to build a reliable ratings model for adequate coverage pricing to provide cost-effective coverage while managing a balanced book of business.
  • Differentiating yourself from competitors to avoid being undercut by providing a discounted policy price to encourage clients to implement ‘advanced risk controls’.
08:30 - 09:00
Risk Modelling Madness: How to Price Relentlessly Evolving Policies with Scarce Historical Data to Reduce the Risk Taken On

Learn how carriers are using external software to create prospective pricing models and capture data to achieve the best pricing for cyber policies.

  • Learn how to ask the right questions, understand correlations between loss and network security by using AI to aid underwriters decide on the best pricing.
  • Create prospective coverage and pricing models by leveraging analytics to develop an automated process where pricing and insurance are built.
  • Modernise IT systems by using third party solution providers to capture useful claims data, assemble the necessary data to price cyber policies.
08:30 - 09:00
Get your Bearings Around the Present and Future Regulation to Anticipate Exposure

Learn about the effects of current GDPR, and future CCPA (The California Consumer Privacy Act) and Nevada Privacy laws present to insurance carriers, to aid in future policy underwriting.

  • How does GDPR affect the cyber insurance industry, especially when it comes to data breaches. Understand fines levied  and other exposures GDPR creates for carriers.
  • Learn about the US state regulatory approval approach and how to decide on the best marketplace timing to get your policy approved.
  • Assess the impact of Nevada Privacy (1st October 2019) and CCPA (1st January 2020) laws and address concern of increasing volume of lawsuits and the potential significant exposure it presents.

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Full speaker list • Full conference agenda • Audience breakdown

Collaborate to Deliver Cyber Insurance into The Real World
08:30 - 09:00
Work with Brokers to Deliver Top Cyber Policies to Meet Customer Demand

Discover how to work with brokers to understand clients’ cyber risk, the crucial value of cyber insurance, and establish best practices of selling cyber insurance correctly.

  • Help brokers understand cyber risk and the major threat it poses to clients.
  • Coach brokers to understand the wide-ranging value cyber product offers to clients.
  • Educate brokers on the best method to assess individual customer risk.
  • Learn how to increase brokers’ vested interest in pursuing cyber to address the existing green space of non-buyers.
08:30 - 09:00
Deliver on Clients’ Practical Needs through Pre-breach and Post-breach Services to Limit Volume of Losses

Communicate with clients to define their cyber risk; drive customers to own their risk by working in partnership to establish a strong front-line of defence against evolving cyber threats, through implementation of a pre-breach and post-breach plan.

  • Communicate with the client on their views of cyber risk and their cyber risk posture to advise on implementation of internal cyber security controls.
  • Work with clients to create a plan of action in case of a cyber breach, by informing on the post-breach services offered.
  • Take on the position of ‘partner and preventer’ by encouraging customers to contribute to a voluntary data collection system. Use this data to provide advanced warning to customers of potential problems and give helpful maintenance tips.  
08:30 - 09:00
Mission Impossible? Manage your Reputation by Matching Insured to the Right Policy

Work in partnership with brokers to match the client to their perfect policy, understand your customers’ exposure and simplify policies, managing carrier reputation in the long-term.

  • Understand your clients’ exposure by developing applications to include the clients’ data on the type, the quantity, and their customer base numbers. Help match your client to their perfect policy.
  • Balance USPs with policy standardization in order to create uniform, comprehensible products that brokers understand and want to sell.
  • Simplify policy language to ease client and broker understanding of policy coverage terms to cover the client’s exposure to a maximum and avoid loss of reputation.

This will be the most beneficial two days out of the office all year…

Innovate, face challenges head on and form useful business connections; if you’re interested in getting involved, I’d love to speak with you!

Kamilla Rakhmat

Kamilla Rakhmat

Project Director
Insurance Nexus

Phone: +44 (0) 207 375 7523

Toll Free: 1 800 814 3459 Ext: 7523

Email: kamilla.rakhmat@insurancenexus.com

Download the detailed event brochure

Complete speaker line-up • Program for all tracks & sessions • Audience breakdown