FICO, a global analytics leader, announced that its FICO Cyber Risk Score continues to see significant momentum in the cyber insurance marketplace with strong growth and new customers in 2020. The FICO Cyber Risk Score is the industry’s most accurate cyber risk score in the market, providing clear transparency for underwriting and helping drive better business decisions.
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Volante Global, Tarian Underwriting Limited, and RLI Insurance Company join a growing list of global insurance carriers currently leveraging the FICO Cyber Risk Score for underwriting, portfolio management, risk aggregation, modeling and pricing.
The FICO Cyber Risk Score has also been recently nominated by the cyber insurance industry for Advisen’s Cyber Risk Model of the Year. In addition, Chartis Research named FICO as a category leader in cyber risk quantification in the Cyber Risk Quantification Solutions, 2019: Market and Vendor Landscape report.
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“FICO has become the trusted name in cyber risk scoring in the insurance marketplace and we are pleased to work with industry leaders,” said Julie May, vice president, cyber security solutions, FICO. “The FICO Cyber Risk Score gives cyber insurance underwriters the ability to measure cyber risk for an individual insured, or in aggregate across their entire book or segments of their book of business. With integrated workflows and dashboards, insurers are actively engaging their customers and prospects in the cyber risk assessment process, bringing transparency to cyber risk measurement.”
