01 May 2017
30 April 2019
Cyberinsurance can fulfill a key role in improving cybersecurity within companies by providing incentives for them to improve their security, requiring certain minimum protection standards. Unfortunately, so far cyberinsurance has not been widely adopted. CYBECO focuses on two aspects to fill this gap:
Who is the project designed for?
CYBECO includes a detailed analysis of the cyberinsurance (and cybersecurity) ecosystem as well an exploitation plan.
We identify the following markets:
In short, we aim at making society more cybersecure.
Last, but not least, researchers in various areas (technology management, IT security, insurance, risk analysis, behavioural economics, cyber-psychology) would also benefit from our advances.
How is your project benefitting the end-user?
On the supply side, end-users benefit from better founded and designed cyberinsurance products and cyber risk management frameworks. On the demand side, end-users benefit from a well-founded tool that allows them to determine their optimal cyber security investments, including the appropriate cyber insurance product.
Globally, society as whole benefits since the project helps create a more secure environment.
In a nutshell, by properly modelling and combining decision-making behaviour surrounding cyber threats (risk generation), the decision-making behaviour of insurance companies (risk assessment) and the decision-making behaviour of IT owners (which includes cyber insurance), we aim to help mitigate cyber risks at the global level.
Please briefly describe the results your project achieved so far
What are the next steps for your project?