29 October 2020Actuarial & underwriting

Chubb enhances its cyber index with new functionality

Chubb has enhanced its Chubb Cyber Index with new capabilities to help organisations analyse and manage their cyber exposures.

The cyber index, originally launched in 2018, allows users to access industry and revenue size-specific total incident costs, peer purchasing insights, ransomware risk assessments, trends, and year-over-year risk information.

Users can now ask questions of a new chatbot, Clara the Coder, with the index pre-populating relevant and downloadable risk reports, including a library of whitepapers, videos, and other research materials. Enhancements have also been made to the user interface, Chubb said.

The index updates twice monthly to ensure data are timely, which Chubb noted is especially important amid the cyber uncertainty related to the COVID-19 pandemic and other emerging threats.

Bobbie Goldie, senior vice president at Chubb, said: "By adding more robust risk analysis features, we are now able to offer businesses, as well as insurance agents and brokers, deeper insights into cyber exposures and how to protect against future losses.”

He added: "With more than two decades of claims data and experience, we are able to holistically analyse cyber trends and behaviors year-over-year to help us better inform our clients and distribution partners.