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Cyber risk quantification: Enhancing cyber insurance decision making

In this informative video, Marsh’s Allie Pan discusses how cyber risk quantification can better inform decisions on cyber insurance spending and what key questions risk managers should be asking themselves about quantification.

08/19/2022

With cyberattacks on the rise, it has never been more important to understand the financial impact of a potential event. Cyber risk quantification — the process of repeatedly and sustainably measuring enterprise cyber risk in terms and metrics relevant to your organization’s operations and strategy — helps organizations to do just that.

Cyber risk quantification further helps organizations make data-driven decisions on their cyber insurance spend, align cyber risk with enterprise strategy, and understand the effectiveness of their cybersecurity investments.

In this informative video, Marsh’s Allie Pan discusses how cyber risk quantification can better inform decisions on cyber insurance spending and what key questions risk managers should be asking themselves about quantification. 

Key takeaways

Financial exposures and retained risks

Understanding the potential financial impact of cyber threats enables organizations to make objective decisions on which risks to retain or transfer. 

Balance sheet protection

Quantifying the impact of cyberattacks allows organizations to determine whether attacks could have a material impact on the balance sheet. 

Return on investment

Calculating the value of insurance program structures against the frequency and severity of attacks allows organizations to analyze their investments in cyber insurance.

About our speaker

Allison Pan

Allison (Allie) Pan

Senior Vice President, Emerging Risks, Marsh Advisory

As a Senior Vice President with Marsh Advisory, Allie Pan is responsible for helping clients understand their strategic risks, especially in nascent and complex peril classes such as cyber, climate, violent threats, and supply and value chains. Allie specializes in the ways in which peril classes converge or are interdependent. This enables her clients to assess their risks in gray areas that are difficult to capture in traditional risk analysis.

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Watch our series to learn how cyber risk quantification can help enterprises express cyber risk in financial terms.

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