Guidewire Cyence

Guidewire Cyence is a risk analytics and modeling platform designed to assist insurers in underwriting, managing, and transferring cyber risk. This solution is tailored for cyber insurers, reinsurers, brokers, and managing general agents (MGAs) of various sizes. According to Guidewire Software, professionals and industries that can benefit from Guidewire Cyence include insurance companies, reinsurance companies, insurance brokers, managing general agents (MGAs), and enterprise risk management professionals.

Key Features

Cyber Risk Quantification: Guidewire Cyence enables users to calculate the risk and financial costs of cyber attacks for individual companies and portfolios. It provides risk analytics tools to enhance cyber underwriting, portfolio management, and risk-transfer decisions.

Data-Driven Underwriting: Users can make informed cyber underwriting and pricing decisions using custom-designed dashboards and reports. Guidewire Cyence helps users understand the financial risk of companies and their need for cyber insurance.

Enterprise Risk Management: Guidewire Cyence provides insights for effective enterprise risk management decisions. Users can evaluate portfolio risks, safeguard overall profitability, and support business growth.

Cyence Model 6: Cyence Model 6 offers an advanced understanding of the latest cyber threats, assisting underwriting decisions and accurate portfolio management. It provides real-time insights into cyber risk.

Modeling and Quantifying Cyber Security Risk: Users can model and quantify cyber risk in financial terms for companies and portfolios. Guidewire Cyence evaluates individual companies based on exposure signals, incident probability, and severity of incidents in terms of financial loss.

Risk Assessment for Companies and Portfolios: Guidewire Cyence facilitates the evaluation of individual companies and portfolios based on exposure signals, incident probability, and severity of incidents in terms of financial loss. It offers tools to assess and quantify risks impacting portfolios and overall business through cyber risk analytics.

Scenario Modeling: Users can simulate various events, from common to catastrophic, to evaluate their impact on portfolios or businesses.

Risk Selection and Pricing: Guidewire Cyence enhances underwriting information with over 40 exposure signals, incident probability, and loss analysis. It helps users ensure appropriate pricing for companies and portfolios by utilizing modeled loss estimates.

Portfolio Health Evaluation: Guidewire Cyence provides tools to evaluate and monitor portfolio health through exposure data, modeled loss analyses, and accumulation risks.

Product Design: Guidewire Cyence supports the development of new ratings products by analyzing the financial impact of cyber risk on companies.