DeNexus has launched a series of ever-improving cyber models, which are aimed at helping industrial organizations, insurance underwriters, reinsurers and ILS investors fully understand the real risks associated with cyber breaches - creating a level playing field for all the stakeholders.
Here are the people behind the technology working to develop credible modeling in order to quantify cyber risk and develop a cyber-ILS market.
We are proud to introduce George Mawsdley, Head of Risk Solutions at DeNexus.
1. What was your career journey that led you to joining DeNexus?
I’ve worked for 15 years in the risk transfer business (most recently at Securis Investment Partners) because I enjoy the challenge of identifying, pricing and finding the most suitable home for risk. Cyber risk represents one of the greatest challenges but also a huge opportunity for the insurance industry.
However, for the cyber insurance industry to reach its full potential, I believe significant innovation is required – from the ground-up – so that the risk can be better understood. A better understanding of the risk will unlock the capital markets and ease the bottlenecks in capacity that are currently stifling the market.
I’ve joined DeNexus as I believe the company possesses the advanced technologies and the foresight to act as a key innovator in how cyber risk is assessed, structured and passed through the value chain. The current status quo is not working, and I want to be part of the story that creates a more sustainable cyber insurance market.
2. Where will you be based?
I’m currently based in London, UK.
3. What is an average day in the life of a Head of risk solutions?
Make sure we continue along our roadmap for building a risk transfer business.
4. How does your role fit into DeNexus’ mission to become the global standard of industrial cyber risk quantification for insurance agencies, shareholders, investors, boards and risk transfer market?
We aim to re-build the insurance value chain with DeNexus and our platform, DeRISK, at the center. The industrial cyber risk insights provided by DeRISK enables us to bring tremendous value to the cyber insurance ecosystem and significantly enhance the risk transfer process. In doings so, we will create a product that is easily understood and transferred to the capital markets. The unlocking of the capital markets is seen as a key requirement to achieving a sustainable cyber insurance market.
By building a sustainable cyber insurance market, DeNexus and DeRISK will become the gold standard for any industrial risk looking to buy insurance.
5. What is the riskiest things you’ve ever done?
High on the list is ski touring in Kashmir, Himalayas. This included the risk of avalanches, rides in helicopters that were passed their prime time, and homebrewed beer.