Why data quality is key for cyber risks: DeNexus interview

In the second in a series of sponsor showcase video interviews for the upcoming Artemis ILS NYC 2022 conference (held April 22nd in New York City), we welcomed Thomas Nuth, the Vice President of Marketing at DeNexus, one of our Bronze sponsors for the conference.

DeNexus is a specialist provider of software for cyber risk quantification and its DeRISK Insurance product enables quantification of the cyber risk of industrial enterprise clients and client portfolios for underwriters, helping reinsurers and ILS investors gain visibility and understanding of cyber risks they may face.

Thomas explained the DeNexus approach to cyber and in particular what its DeRISK Insurance product offers to insurers, reinsurers and ILS investors looking to underwrite or allocate capital to cyber risks.

Nuth told us, “On the one hand we know that cyber risk and loss events are kind of analogous to natural catastrophe, in their impacts and how often they are going to occur.

“But it’s completely different, because cyber risk data is dynamic. It’s one of the first insurance products that the insurance and ILS industries have been able to see in decades.

“There’s no vendor agnostic, single source of truth or approach to reconcile that dynamic form of cyber risk data.

“So that’s the main problem, that cyber insurers, reinsurers and ILS investors have when it comes to cyber insurance. There’s not a single source of data, or a disciplined way of calculating their risk exposure.”

He also went on to provide detailed thoughts on some of the threat vectors the insurance, reinsurance and ultimately ILS investor markets may face, as well as how DeNexus is developing its tools to help risk markets make more sense of cyber exposure and threats.

Hear more on the need for differentiated sources of insurance-linked returns at the upcoming Artemis ILS NYC 2022 conference in New York on April 22nd (get your ticket today).

For details and to register for the conference, visit the event website: www.artemis.bm/ils-nyc-2022/.

The full video interview is embedded below and can also be viewed in full, along with previous Artemis Live video interviews here.

You can also listen in audio to our interviews by subscribing to the Artemis Live podcast here.

View all of our kind sponsors of the ILS NYC 2022 conference below:

For all enquiries regarding sponsorship opportunities please contact [email protected].