Disrupting the cybersecurity insurance market through a technology and business model play

“十年前，如果你想买汽车保险，你可以去商业街的经纪人那里填写一份纸质表格。尽管风险定价往往很低，但经纪人和承销商通常都能获得可观的利润。如今，汽车保险已经高度自动化。风险，特别是年轻司机的风险，通过一个车载黑匣子“个性化”，允许良好的驾驶行为以透明的方式得到奖励，从而降低双方的风险。老式的经纪人已经不复存在，现在大部分市场都是直接的，新的商业模式，如“比较市场”，导致更少的参与者以更高的利润进行交易。网络保险是当今最具活力和增长最快的保险领域之一。然而，当一家公司申请网络保险时，它仍然需要填写一份问卷（纸质或电话），提供通用信息。年保费与公司当前的风险关系不大，不能说明动态变化。由于保费很高，许多人选择不投保或发现自己投保不足/不涵盖特定风险。我们相信，汽车保险发生的事情即将发生在网络保险市场，我们打算引领这一转变。我们的项目将人工智能/数据技术（“网络数学”）应用于英国网络保险市场。我们已经开发了一种网络风险检测产品，可以从商业设备收集风险数据。我们将对这些数据应用人工智能，使英国保险公司能够更好地定价网络风险保费，并通过降低保险费来奖励良好的网络风险管理。保险是一个全球市场，英国在其中处于领先地位。我们相信：* 我们的软件和数据驱动的商业模式转型可以帮助英国捍卫和发展其在网络保险领域的地位;* 我们值得InnovateUK的支持，因为我们需要在创新方面超越一些来自远东和亚洲的大型保险公司，这些保险公司正在开始开拓境外市场。如果我们想摆脱这些挑战，我们必须引入新的模式，并且在为时已晚之前这样做;并且 * 一种有助于减少英国遭受网络攻击的产品是一种净公共产品，并且在流氓国家将非对称非常规攻击作为政策工具的时代越来越重要。"

"A decade ago, if you wanted car insurance you went to a high street broker and completed a paper form. Even though the risk was often badly priced, both the broker and the underwriter typically made a healthy margin. Today, automotive insurance is highly automated. Risk, particularly for younger drivers is 'personalised' via an on-board black-box that allows good driving behaviour to be rewarded in a transparent way that reduces risk for both parties. The old-style brokers are gone, much of the market is now direct and new business models such as 'compare the market' result in fewer players transacting on finer margins.Cyber insurance is one of the most dynamic and fastest growing areas of insurance today. Yet, when a company applies for cyber insurance, it is still required to complete a questionnaire (paper or phone) providing generic information. The annual premium bears little relation to the company's current risk and cannot not account for dynamic changes. As premiums are high, many elect not to insure or find themselves under-insured/not covered for a particular risk.We believe that what happened to car insurance is about to happen to the cyber insurance market and we intend leading this transformation. Our project applies AI/data techniques ('cybermatics') to the UK cyber insurance market.We have already developed a cyber risk detection product which collects risk data from business devices. We will apply AI to this data to enable UK insurers to better price cyber risk premiums and reward good cyber risk management through reductions in insurance premiums.Insurance is a global market in which the UK has led the world. We believe that:* our software and data-enabled transformation of the business model can help the UK defend and grow its position in cyber insurance;* we merit InnovateUK's support because of the need to out-innovate some of the massive insurers from the Far East and Asia who are beginning to exploit markets beyond their borders. If we want to see off these challenges, we have to bring in new models, and do so before it is too late; and* a product that helps reduce the UK's exposure to cyber-attack is a net public good, and increasingly crucial in an age where asymmetric non-conventional attacks as an instrument of policy are prevalent by rogue states."