Howden Re’s cyber specialists have highlighted the need for improved data and updated models in response to a changing cyber threat environment. In an article published by Intelligent Insurer for Monte Carlo Today, Luke Foord-Kelcey, Head of Global Cyber at Howden Re, and Harriet Gruen, Head of Threat Intelligence at Howden Re, discussed how both threat actors’ techniques and industry responses are advancing.
Foord-Kelcey and Gruen agree that models must adapt to new risks, with stronger data and proactive strategies necessary for resilience. The company aims to help clients use the evolving threat landscape as an opportunity to refine risk strategies.
Gruen emphasized the importance of updating risk assessment tools: “Some of the tools that have been historically used to assess risk, or some of the controls seen as a minimum standard, won’t necessarily be effective against all of these attack factors. Minimum standards therefore need recalibrating.”
Foord-Kelcey explained the role of cyber reinsurers in staying ahead: “As the threat landscape evolves, our role is to ensure the industry does not just keep pace but stays ahead. By strengthening data inputs and constantly challenging assumptions, we can turn volatility into resilience, for insureds, carriers and, ultimately, the wider economy.”
The article notes that better data leads to stronger models and that current methods require updates as threats change.