Aon Launches Cyber Risk Analyzer to Mitigate Clients' Cyber Risk Exposure

Nov 18, 2024 3:00 PM

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Tool enables risk managers, brokers and CISOs to better evaluate cyber risk and maximize insurance value
Cyber Risk Analyzer is the latest release under Aon Actionable Analytics, which already includes Property Risk, Casualty Risk, D&O Risk and Health Risk analyzers

CHICAGO, Nov. 18, 2024 /PRNewswire/ -- Aon plc (NYSE: AON), a leading global professional services firm, today launched its Cyber Risk Analyzer, a digital application that allows risk managers to make data-driven, technology-enabled decisions to mitigate cyber risk. The tool is the latest in a series of new offerings, which brings together Aon's data, tools and analytics professionals to support clients through an evolving risk landscape across sectors.

A look inside Aon's Cyber Risk Analyzer web tool.

"As cyber threats continue to grow in frequency, sophistication and severity, organizations face an array of complex risks—from ransomware and business interruption to insider threats and data breaches," said Christian Hoffman, global specialty and financial products leader for Aon. "Compounding these risks are increased litigation pressures, shifting regulatory landscapes, and heightened scrutiny from shareholders. We designed Aon's Cyber Risk Analyzer to address these challenges and help clients evaluate and quantify their enterprise cyber risk, enabling them to make better decisions."

Aon's Cyber Risk Analyzer allows Aon's clients and brokers unique access to:

Loss Forecasting: Model detailed loss scenarios faster, including privacy or data breach and system failure. The analyzer incorporates Aon's customized proprietary simulation modeling approach based on internal claims insights, independent research by Aon's Cyber Risk Consulting team and findings from bespoke cyber modeling engagements.
Exposure Assessment: Integrate with other proprietary Aon tools, including Aon's Cyber Quotient Evaluation platform (CyQu), to obtain a holistic assessment of a client's exposures and security controls.
Total Cost of Risk (TCOR) Analysis: Overlay loss forecasts with customized insurance options to produce TCOR and Catastrophic TCOR analyses.

These capabilities enable brokers to provide risk managers, chief information security officers and corporate leaders a view of the changing cyber risk environment so they can make informed decisions around risk transfer versus risk retention on their balance sheets. Client risk managers will be empowered to deliver insights on optimal insurance capital allocation decisions to their boards of directors and corporate officers.

Empowering Clients with Actionable Insights
The launch of Aon's Cyber Risk Analyzer follows the 2024 debuts of the firm's Property Risk Analyzer, Casualty Risk Analyzer, D&O Risk Analyzer and Health Risk Analyzer, that provide exposure visualizations and model potential losses to help Aon's clients make better informed decisions about their risk and insurance options. The analytics tools are designed by Aon's Risk Capital and Human Capital capabilities in collaboration with Aon Business Services to provide Aon clients with actionable insights that allow for greater control over their insurance program structure.

"Aon's Cyber Risk Analyzer builds on Aon's commitment to equipping clients with insights that enable data-driven decisions," said Joe Peiser, global CEO of Commercial Risk Solutions for Aon. "As the risk landscape becomes increasingly complex, our team delivers actionable analytics that help our clients confidently evaluate risks and insurance options."

About Aon
Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, our colleagues provide clients in over 120 countries with the clarity and confidence to make better risk and people decisions that protect and grow their businesses.

Follow Aon on LinkedIn, X, Facebook and Instagram. Stay up-to-date by visiting Aon's newsroom and sign up for news alerts here.

Media Contact
Robert Elfinger
robert.elfinger@aon.com
+1 312 610 3182

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

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