Aviva, a British insurer, has partnered with CyberCube, a cyber risk analytics company, to enhance its cyber risk management strategy using artificial intelligence (AI) capabilities. The partnership aims to help Aviva understand cyber threats and their targets by utilizing CyberCube’s Portfolio Threat Actor Intelligence solution. This solution leverages large language models to extract threat intelligence from digital forensics data and data breaches associated with ransomware groups.
The insights gained from this service will enable Aviva to identify specific vulnerabilities within its commercial portfolio and tailor its exposure management accordingly. Aviva will integrate the tool into its exposure management processes on a recurring basis, with plans to use the service quarterly. The company will also conduct regular reviews with CyberCube to update “threat actor kill chains”, which will help to identify and mitigate potential cyber threats.
According to James Mitchell, Aviva’s senior cyber pricing and exposure manager, the company has rigorously tested CyberCube’s Portfolio Threat Actor Intelligence against several ransomware groups and has seen promising results. By incorporating this solution into its underwriting and exposure management processes, Aviva aims to gain deeper insights into its portfolios and better manage cyber risk for both itself and its customers.
CyberCube’s cyber threat intelligence services head, William Altman, stated that Portfolio Threat Actor Intelligence is an innovative solution that takes the management of cyber insurance portfolio risk to the next level. The solution supports Aviva’s Exposure Management team in identifying companies within its portfolio that display firmographic traits, technology dependencies, and security gaps likely to attract specific cyber threat actors.
This partnership is part of Aviva’s efforts to enhance its cyber risk management capabilities and reduce manual processes. Earlier this year, the company adopted AutoRek’s financial and operational reconciliation solution to reduce manual processes, carry out matching, and analyze discrepancies. By leveraging AI and machine learning capabilities, Aviva aims to stay ahead of emerging cyber threats and provide better protection for its customers.