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Aon beefs up its cyber insurance portfolio with acquisition

Clint Boulton | Nov. 9, 2016
The risk management firm has acquired Stroz Friedberg, which AON says will help it better meet clients’ requirements for managing their responses to cyberattacks.

Next stop: real-time analytics

Bruno says Aon may acquire more companies as it seeks to add real-time data analytics capabilities to anticipate attacks or address them as they are happening, automating what has traditionally been a manual assessment process. Bruno says this will become more critical as the internet of things expands into more industries.

Another big focus for Aon includes using sentiment analysis capabilities to anticipate actions of a rogue employees who may show patterns of becoming disgruntled over time. Perhaps no incident is more famous than former NSA contractor Edward Snowden pilfering classified documents and sharing them online.

"People don't wake up one-day and decide to go rogue," Bruno says. "It usually happens over a period of time and are there ways and things that we can, through behavioral sciences, data and analytics, and sentiment analysis ..." due to preempt bad actors.

Bruno also says Aon aims to partner with large vendors such as Symantec, Hewlett Packard Enterprise, Cisco, IBM and Microsoft, to certify their technology for insurability. Ideally, this would make it easier for CIOs unaccustomed to purchasing cyber policies to embrace a solution.

“If they deploy in a certain way and work in a certain framework we can bring their clients cover they might not have otherwise,” Bruno says.

Stroz' more than 550 employees will join Aon, which has created a Cyber Risk Management Advisory Group. Stroz CEO Michael Patsalos-Fox will become the CEO and co-chair of Aon's Cyber Solutions Group. Bruno will join Patsalos-Fox as co-chair of this new group.

 

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