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InsTech - insurance & innovation with Matthew Grant

Pascal Millaire: CEO, CyberCube: Powering profitable cyber insurance growth (120)

InsTech - insurance & innovation with Matthew Grant

InsTech

Entrepreneurship, Investing, Business

4.8 • 50 Ratings

🗓️ 19 January 2021

⏱️ 39 minutes

🧾️ Download transcript

Summary

The increasing threat from cyber attacks has presented the insurance industry with its biggest opportunity in over a century, according to Pascal Millaire. The CyberCube CEO joins host Matthew Grant to discuss the expansion of the cyber insurance market since his first podcast appearance in 2019, and why the world’s largest insurance institutions are turning to CyberCube to manage their cyber exposures. Talking points include: Business interruption and lessons from Covid-19 The role of data, and how to access it, in improving modelling capabilities Establishing clear exclusions and lines for cyber risk How brokers are engaging with their clients and using analytic tools Why regulation is key to tackling cyber risk  Capital markets and public-private partnerships Learn more about CyberCube on their dedicated member's page on the InsTech London website. Sign up to our newsletter for a fresh view on the world every Wednesday morning. If you like what you're hearing, please leave us a review on whichever platform you use, or contact Matthew Grant on LinkedIn. Continuing Professional Development - Learning Objectives InsTech London is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech London podcast or reading the accompanying transcript, you can claim up to 0.5 hours towards the CII member CPD scheme. To claim 0.5 hours for this podcast, go to the Episode 120 page of the InsTech London website, or email [email protected].

Transcript

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0:00.0

That's a supply chain, digital supply chain attack against a company that provides service to a large portion of the Fortune 500, many U.S. and other government agencies, and has a sophisticated nation-state threat actor that sits behind that attack.

0:37.4

Well, we are well into 2021 now, and here in the UK, winter is most definitely upon us. But having spoken to many of you

0:38.7

around the world in the last couple of weeks, does look like hope is in sight. And if you're in the

0:42.6

southern hemisphere, a lot warmer too. And congratulations to those of you in Israel. Not only are

0:48.1

you great innovation. Looks like you've proved the most efficient at getting your vaccine out. Well done.

0:54.0

Matthew Grant here, host of the London podcast, back in the hot seat this week with Pascal

0:58.4

Amelia, who returns after I interviewed him for episode 28 back in May 2019, and still

1:04.0

well worth a listen, by the way.

1:05.8

Now, Cyber may not be making the headlines quite so much in the last few months, well,

1:09.3

apart from the recent Solo Winds attack, I'm going to be talking about that shortly, but the risk is growing,

1:15.3

both affirmative, that's where cyber is an explicit cover and where losses are triggered

1:19.5

by a cyber event, but also in other classes of business where it's not explicitly written

1:25.0

into the cover, but may impact the losses, something that regulators

1:28.5

and rating agencies are paying more attention to. Pascal is about to give us an update on how

1:34.0

CyberCube has expanded since we last spoke to him, including successfully rolling out a new product

1:38.9

for brokers. We talk at length about how insurers are pricing risk and managing their cyber

1:43.6

exposures.

1:47.9

Now, if you're joining us for the first time, it's a real pleasure to have you along.

1:52.5

Thank you. And if you're one of our old friends, well, of course, we really appreciate your time.

1:53.5

Now, here's Pascal.

2:01.6

Pascal, it's great to have you back as another guest on the Instat London podcast. It's great to be back.

2:02.6

Now, last time we spoke, I don't think you'd really got into podcasting at all in the last 18 months, because it was May 2019 when we spoke.

...

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