Aon launches new cyber risk tool

It comes cyber attacks are becoming increasingly frequent and severe

Aon launches new cyber risk tool

Insurance News

By Jonalyn Cueto

Aon plc, a global professional services firm, has launched its cyber risk analyzer, a digital application designed to help organizations assess and manage their exposure to cyber risks.

Part of Aon’s broader suite of actionable analytics, the tool aims to help risk managers, brokers, and chief information security officers (CISOs) evaluate their cyber risk and make informed decisions about risk mitigation and insurance coverage.

It comes as cyber threats such as ransomware attacks, data breaches, and insider threats have become increasingly frequent and severe.

Aon’s new tool offers several key features:

  • Loss forecasting: The analyzer allows users to model different cyber-related loss scenarios, including privacy breaches and system failures, using Aon’s proprietary simulation models.
  • Exposure assessment: It integrates with Aon’s existing cyber quotient evaluation (CyQu) platform, helping businesses assess their overall cyber exposures and security controls.
  • Total cost of risk (TCOR) analysis: The tool also enables organizations to analyze the total cost of cyber risk.

“Organizations face an array of complex risks,” said Christian Hoffman, global specialty and financial products leader at Aon. “Compounding these risks are increased litigation pressures, shifting regulatory landscapes, and heightened scrutiny from shareholders.

“We designed Aon’s cyber risk analyzer to address these challenges and help clients evaluate and quantify their enterprise cyber risk, enabling them to make better decisions.”

The launch of the cyber risk analyzer also follows Aon’s introduction of similar analytics tools in other areas, including property risk, casualty risk, D&O Risk, and health risk.

“Aon’s cyber risk analyzer builds on Aon’s commitment to equipping clients with insights that enable data-driven decisions,” said Joe Peiser, global CEO of commercial risk solutions for Aon.

“As the risk landscape becomes increasingly complex, our team delivers actionable analytics that help our clients confidently evaluate risks and insurance options.”

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