《grc-w01-adventures-in-insurance-land-weaknesses-in-risk-pricing-and-alternatives》.pdf

Adventures in Insurance Land: Weaknesses in Risk Pricing Alternatives SESSION ID: GRC-W01 Tim West Jamie Gamble Senior Consultant Principal Consultant Accuvant Advisory Services Accuvant LABS @west_tim @bitgamble What’s this talk About? Cyber insurance! but really measuring risk  Review of how it all works  A critique of how the Insurance industry approaches information risk  A discussion of ideas for improving pricing techniques Why do we personally care about a topic with the word ‘Cyber’ in it?  The core of this business is measuring risk… and it’s big, serious, business #RSAC 2 What’s This Talk NOT About?  A sales pitch on buying selling, or otherwise  Anything more than a superficial view of actuarial science Personally, we don’t care if or how much insurance you buy. We don’t sell it or do any associated business! #RSAC 3 Why Might this Talk Interest You?  Recent breaches show tangible value to CFO  Insurance has been touted (academically) as a market-based alternative to compliance  Field has been dominated by insurance professionals; our experience as practitioners and consultants provides an outsiders look #RSAC 4 The Key Question Ponder this:  If you had to bet a million dollars on who in the SP 500 will and won’t get hacked, what information would you want on ea