Marsh has announced the creation of a new cyber consultancy operations which it believes can deliver greater insight for investors and clients.
The new operation will be backed with what the brokers said is an enhanced suite of cyber risk quantification consulting capabilities that offer clients new insight into the impact of their cybersecurity investments.
“The enhanced consulting capabilities are powered by Blue[i] Cyber, a new cyber risk analytics engine that integrates Marsh’s market-leading cyber risk quantification models with X-Analytics, Secure Systems Innovation Corporation (SSIC)’s patented cyber risk model for which Marsh is the exclusive insurance broker and risk consulting provider,” it explained.
“Although cyber often ranks high on risk agendas, many organizations struggle to understand how their cybersecurity strategy impacts their financial exposure to cyber risk,” said Reid Sawyer, US Cyber Risk Consulting Practice Leader, Marsh. “With Marsh’s enhanced quantification consulting capabilities, clients will be able to gain greater clarity into the impact their cybersecurity investments have on risk reduction and make more informed cyber risk capital allocation decisions.”
Marsh added for the first time its clients will be able to:
- Evaluate the effectiveness of cybersecurity controls and prioritise risk mitigation accordingly.
- Engage in data-driven “what-if” scenarios to evaluate existing and future cyber investments.
- Evolve cybersecurity from technical jargon to a board-level conversation.
- Meet cyber risk disclosures and reporting requirements more easily.
- Use financial analysis of cyber risk exposure to inform their risk management strategies, including risk mitigation and risk transfer decisions.
The consultancy services will be offered to clients in the US, Canada and Europe with immediate effect, added Marsh.